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Apr 30, 2020
Nutanix Q3 2020 Earnings Report
Increased remote work and demand for “zero touch” IT drove TCV revenue growth year-over-year and subscription billings represented 84% of total billings during continued transition to subscription business model.
Key Takeaways
Nutanix reported a solid third quarter, driven by increased remote work and demand for "Zero Touch" IT, with TCV revenue growth of 18% year-over-year. The company's transition to a subscription-based business model continued, with 84% of billings coming from subscriptions. Proactive operating expense management also aided bottom-line results.
TCV revenue increased 18% year-over-year.
Subscription billings were up 43% year-over-year, representing 84% of total billings.
GAAP gross margin improved to 77.3%, up from 73.9% in the third quarter of fiscal 2019.
Nutanix ended the third quarter with 16,580 end-customers.
Nutanix
Nutanix
Nutanix Revenue by Segment
Revenue by Segment
Subscription Revenue
CapyFin.comProfessional Services Revenue
CapyFin.comNon-Portable Software Revenue
CapyFin.com Forward Guidance
Given the uncertainty created by the COVID-19 pandemic, Nutanix has withdrawn its guidance for fiscal 2020 as well as its business model targets for calendar 2021. Nutanix plans to resume providing formal guidance when visibility improves.
Revenue & Expenses
Visualization of income flow from segment revenue to net income