Nutanix Q2 2023 Earnings Report
Key Takeaways
Nutanix reported a solid Q2 financial performance with a 23% year-over-year growth in ACV billings and a record free cash flow margin. The company is dealing with an audit committee investigation regarding the use of third-party software, which has led to a delay in filing the 10-Q and an inability to provide expense information.
ACV billings grew by 23% year-over-year.
Annual Recurring Revenue (ARR) increased by 32% year-over-year.
The company is undergoing an audit committee investigation regarding the use of third-party software.
Fiscal year 2023 revenue and ACV billings guidance were raised.
Nutanix
Nutanix
Nutanix Revenue by Segment
Forward Guidance
Nutanix provided revenue guidance of $430 - $440 million and ACV Billings of $220 - $225 million for Q3 2023. For fiscal year 2023, Nutanix provided revenue guidance of $1.80 - $1.81 billion and ACV Billings of $905 - $915 million.
Positive Outlook
- Reaffirming free cash flow guidance of $100 to $125 million for fiscal year 2023.
Revenue & Expenses
Visualization of income flow from segment revenue to net income