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Jan 31, 2024
Nutanix Q2 2024 Earnings Report
Nutanix's Q2 2024 financial results were reported, showing a solid performance with significant ARR growth and free cash flow generation. The company achieved GAAP operating profitability for the first time.
Key Takeaways
Nutanix reported a strong second quarter in fiscal year 2024, marked by a 26% year-over-year increase in ARR and robust free cash flow. The company achieved GAAP operating profitability for the first time. Nutanix exceeded expectations across all guided metrics.
ARR grew by 26% year-over-year, reaching $1.74 billion.
GAAP operating income was $37.0 million, a significant improvement from the $(56.5) million loss in the same quarter last year.
Free cash flow was $162.6 million, compared to $63.0 million in the second quarter of fiscal year 2023.
Revenue increased by 16% year-over-year to $565.2 million.
Nutanix
Nutanix
Nutanix Revenue by Segment
Revenue by Segment
Subscription Revenue
CapyFin.comProfessional Services Revenue
CapyFin.com Forward Guidance
Nutanix provided the following outlook for the third quarter of fiscal year 2024: ACV Billings between $265 and $275 million; Revenue between $510 and $520 million; Non-GAAP Gross Margin of approximately 85%; Non-GAAP Operating Margin between 7.5% and 8.5%.
Positive Outlook
- ACV Billings between $265 and $275 million
- Revenue between $510 and $520 million
- Non-GAAP Gross Margin of approximately 85%
- Non-GAAP Operating Margin between 7.5% and 8.5%
- Weighted Average Shares Outstanding (Diluted) Approximately 301 million
Revenue & Expenses
Visualization of income flow from segment revenue to net income