Record Revenue of $192 Million Up 67 Percent
YOY; Record Number of Large Deals; Expanding Market Opportunity
with HPE and IBM Hardware
Nutanix, Inc. (NASDAQ:NTNX), a
leader in enterprise cloud computing, today announced financial
results for its third quarter of fiscal 2017, ended April 30,
2017.
This Smart News Release features multimedia.
View the full release here:
http://www.businesswire.com/news/home/20170525005851/en/
Nutanix Fiscal Q3'17 Earnings Infographic
(Graphic: Business Wire)
Third Quarter Fiscal Year 2017 Financial Highlights
- Revenue: $191.8 million, growing
67% year-over-year from $114.7 million in the third quarter of
fiscal 2016
- Billings: $234.1 million,
growing 47% year-over-year from $159.5 million in the third quarter
of fiscal 2016
- Net Loss: GAAP net loss of
$112.0 million, compared to a GAAP net loss of $46.8 million in the
third quarter of fiscal 2016; Non-GAAP net loss of $60.8 million,
compared to a non-GAAP net loss of $40.4 million in the third
quarter of fiscal 2016
- Net Loss Per Share: GAAP net
loss per share of $0.78, compared to a pro forma GAAP net loss per
share of $0.39 in the third quarter of fiscal 2016; Non-GAAP net
loss per share of $0.42, compared to a pro forma non-GAAP net loss
per share of $0.33 in the third quarter of fiscal 2016
- Cash and Short-term Investments:
$350.3 million, up 83% from the third quarter of fiscal 2016
- Deferred Revenue: $463.0
million, up 102% from the third quarter of fiscal 2016
- Operating Cash Flow: $(16.0)
million, compared to $2.4 million in the third quarter of fiscal
2016, reflecting a $(9.6) million outflow of operating cash related
to the purchase of ESPP shares
- Free Cash Flow: $(29.2) million,
compared to $(11.0) million in the third quarter of fiscal 2016,
also reflecting a $(9.6) million outflow of operating cash related
to the purchase of ESPP shares
Reconciliations between GAAP and non-GAAP financial measures and
key performance measures are provided in the tables of this press
release.
“We continue to execute on our strategy of building a cloud
operating system that provides our customers maximum choice of
hardware platforms. We recently established a partnership with IBM®
to bring to market the industry’s first hyperconverged solution on
Power Systems, and introduced support for HPE® ProLiant® and Cisco
UCS® blade servers,” said Dheeraj Pandey, CEO, Nutanix. “Our third
quarter results reflect our continued focus on the Global 2000 as
well as a measurable improvement in the number of larger deals in
the quarter, particularly in North America.”
Recent Company Highlights
- Continued Customer Growth:
Nutanix ended the third quarter of fiscal 2017 with 6,172
end-customers, adding approximately 790 new end-customers during
the quarter. Third quarter customer wins included Caterpillar Inc.,
KYOCERA Communication Systems Co., Ltd., MobileIron, SAIC
Volkswagen, Société Générale, and Sprint.
- Added Support for New Hardware
Platforms: The company announced plans to expand the supported
hardware platforms for its enterprise cloud OS Software to include
Hewlett Packard Enterprise (HPE) ProLiant rackmount servers and
Cisco UCS B-Series blade servers, allowing customers greater choice
of hardware.
- Partnered with IBM for New HCI
Solution: New partnership between Nutanix and IBM® will bring a
turnkey hyperconverged solution combining Nutanix’s software and
IBM Power Systems™ targeting high-performance workloads and
one-click private clouds for large enterprises.
- Expanded Economic Consumption Model
with Nutanix Go: Nutanix Go offers qualified U.S. customers a
new pricing model that enables enterprises to build their cloud,
from hardware to software, using operating budgets. This innovative
economic model allows customers to break free of long-term capital
budget commitments and align with the purchasing experience of the
public cloud.
- Increased Number of $1 Million+
Deals: 34 customers with over $1 million in the quarter as a
result of an increased focus on large deals.
- Announced Extensive Speaker Line-Up
for Third Annual .NEXT Conference: Broad range of industry
luminaries including Bill McDermott, CEO, SAP; Diane Greene, SVP
Google Cloud; Adena Friedman, President and CEO, Nasdaq; Ashok
Belani, Executive Vice President, Technology, Schlumberger; Chad
Sakac, Dell EMC President, VCE - Converged Platform Division; Kirk
Skaugen, EVP and President, Lenovo Datacenter Group; and Virginia
Gambale, JetBlue Board Member.
Q4 Fiscal 2017 Financial Outlook
For the fourth quarter of fiscal 2017, Nutanix expects:
- Revenues between $215 and $220
million;
- Non-GAAP gross margin of approximately
58%;
- Non-GAAP net loss per share of $0.38,
using 152 million weighted shares outstanding.
Supplementary materials to this earnings release, including the
company’s third quarter fiscal 2017 investor presentation, can be
found at http://ir.nutanix.com/company/financial/.
All forward-looking non-GAAP financial measures contained in
this section titled "Q4 Fiscal 2017 Financial Outlook" exclude
stock-based compensation expense, and may also exclude, as
applicable, other special items. The company has not reconciled
guidance for non-GAAP gross margin and non-GAAP loss per share to
their most directly comparable GAAP measures because such items
that impact these measures are not within its control and are
subject to constant change. While the actual amounts of such items
will have a significant impact on the company’s non-GAAP gross
margin and non-GAAP loss per share, a reconciliation of the
non-GAAP financial measure guidance to the corresponding GAAP
measures is not available without unreasonable effort.
Webcast and Conference Call Information
Nutanix executives will discuss the company’s third quarter
fiscal 2017 financial results on a conference call at 4:30 p.m.
Eastern time/1:30 p.m. Pacific time today. To listen to the call
via telephone, dial 1-877-201-0168 in the United States or
1-647-788-4901 from outside the United States. The conference ID is
12015922. This call is being webcast live and is available to all
interested parties on our Investor Relations website at
ir.nutanix.com. Shortly after the conclusion of the conference
call, a replay of the audio webcast will be available on the
Nutanix Investor Relations website. A telephonic replay will be
available for one week following the conference call at
1-800-585-8367 or 1-416-621-4642, conference ID 12015922.
Non-GAAP Financial Measures and Other Key Performance
Measures
To supplement our condensed consolidated financial statements,
which are prepared and presented in accordance with GAAP, we use
the following non-GAAP financial and other key performance
measures: billings, non-GAAP gross margin percentage, non-GAAP net
loss, pro forma non-GAAP net loss per share, and free cash flow. In
computing these non-GAAP financial measures, we exclude certain
items such as stock-based compensation and the related income tax
impact, costs associated with our acquisitions (such as
amortization of acquired intangible assets, revaluation of
contingent consideration, income tax related impact, and other
acquisition-related costs), loss on debt extinguishment, and
changes in the fair value of our preferred stock warrant liability.
Billings is a performance measure which our management believes
provides useful information to investors because it represents the
amounts under binding purchase orders received by us during a given
period that have been billed, and we calculate billings by adding
the change in deferred revenue between the start and end of the
period to total revenue recognized in the same period. Free cash
flow is a performance measure that our management believes provides
useful information to management and investors about the amount of
cash generated by the business after necessary capital
expenditures, and we define free cash flow as net cash (used in)
provided by operating activities less purchases of property and
equipment. We use these non-GAAP financial and key performance
measures for financial and operational decision-making and as a
means to evaluate period-to-period comparisons. Our management
believes that these non-GAAP financial and key performance measures
provide meaningful supplemental information regarding our
performance and liquidity by excluding certain expenses and
expenditures such as stock-based compensation expense that may not
be indicative of our ongoing core business operating results.
However, these non-GAAP financial and key performance measures have
limitations as analytical tools, and you should not consider them
in isolation or as substitutes for analysis of our results as
reported under GAAP. Billings, non-GAAP gross margin percentage,
non-GAAP net loss, pro forma non-GAAP net loss per share, and free
cash flow are not substitutes for total revenue, gross profit, net
loss, net loss per share, or net cash (used in) provided by
operating activities, respectively. In addition, other companies,
including companies in our industry, may calculate non-GAAP
financial measures and key performance measures differently or may
use other measures to evaluate their performance, all of which
could reduce the usefulness of our non-GAAP financial measures and
key performance measures as tools for comparison. We urge you to
review the reconciliation of our non-GAAP financial measures and
key performance measures to the most directly comparable GAAP
financial measures included below in the tables captioned
“Reconciliation of Revenue to Billings,” “Reconciliation of GAAP to
Non-GAAP Profit Measures,” and “Reconciliation of GAAP Net Cash
(Used In) Provided By Operating Activities to Non-GAAP Free Cash
Flow,” and not to rely on any single financial measure to evaluate
our business.
Forward Looking Statements
This press release contains express and implied forward-looking
statements, including but not limited to statements relating to our
competitive differentiation, our plans and expectations relating to
our relationship with IBM and the deployment of our software on,
and interoperability of our software with, IBM Power Systems, HPE
ProLiant servers, and Cisco UCS B-Series blade servers, and
anticipated future financial results, including but not limited to
our guidance on estimated revenues, non-GAAP gross margin, and
non-GAAP net loss per share for future fiscal periods. These
forward-looking statements are not historical facts, and instead
are based on our current expectations, estimates, opinions and
beliefs. Consequently, you should not rely on these forward-looking
statements. The accuracy of such forward-looking statements
depends upon future events, and involves risks, uncertainties and
other factors beyond our control that may cause these statements to
be inaccurate and cause our actual results, performance or
achievements to differ materially and adversely from those
anticipated or implied by such statements, including, among others:
the rapid evolution of the markets in which we compete; our ability
to sustain or manage future growth effectively; factors that could
result in the significant fluctuation of our future quarterly
operating results, including, among other things, our revenue mix,
the timing and magnitude of orders, shipments and acceptance of our
solutions in any given quarter, our ability to attract new and
retain existing end-customers, changes in the pricing of certain
components of our solutions, and fluctuations in demand and
competitive pricing pressures for our solutions; the introduction,
or acceleration of adoption of, competing solutions, including
public cloud infrastructure; failure to develop, or unexpected
difficulties or delays in developing, new product features or
technology on a timely or cost-effective basis; and other risks
detailed in our Quarterly Report on Form 10-Q for the quarter ended
January 31, 2017, filed with the SEC on March 10, 2017. Additional
information will also be set forth in our Form 10-Q that will be
filed for the quarter ended April 30, 2017, which should be read in
conjunction with these financial results. Our SEC filings are
available on the Investor Relations section of the company’s
website at ir.nutanix.com and on the SEC's website at www.sec.gov.
These forward-looking statements speak only as of the date of this
press release and, except as required by law, we assume no
obligation to update forward-looking statements to reflect actual
results or subsequent events or circumstances.
About Nutanix
Nutanix makes infrastructure invisible, elevating IT to focus on
the applications and services that power their business. The
Nutanix Enterprise Cloud Platform leverages web-scale engineering
and consumer-grade design to natively converge compute,
virtualization and storage into a resilient, software-defined
solution with rich machine intelligence. The result is predictable
performance, cloud-like infrastructure consumption, robust
security, and seamless application mobility for a broad range of
enterprise applications. Learn more at www.nutanix.com or follow us
on Twitter @nutanix.
© 2017 Nutanix, Inc. All rights reserved. Nutanix®, the
Enterprise Cloud Platform™ and the Nutanix logo are trademarks of
Nutanix, Inc., registered or pending registration in the United
States and other countries. Hewlett Packard Enterprise®, HPE® and
ProLiant® are the registered trademarks of Hewlett Packard
Enterprise Development LP and/or its affiliates. Cisco® and Cisco
UCS® are the registered trademarks of Cisco Technology, Inc. IBM®
and Power Systems™ are the trademarks of International Business
Machines (IBM) and/or its affiliates. Nutanix is not associated
with, sponsored or endorsed by HPE or Cisco. All other brand names
mentioned herein are for identification purposes only and may be
the trademarks of their respective holder(s).
NUTANIX, INC.
CONDENSED CONSOLIDATED BALANCE
SHEETS
(In thousands, unaudited)
As of
July 31, April 30, 2016 2017
Assets
Current assets: Cash and cash equivalents $ 99,209 $ 200,774
Short-term investments 85,991 149,571 Accounts receivable—net
110,659 170,335 Deferred commissions—current 17,864 22,260 Prepaid
expenses and other current assets 16,138 44,313 Total
current assets 329,861 587,253 Property and equipment—net 42,218
53,545 Deferred commissions—non-current 19,029 28,039 Intangible
assets—net — 26,609 Goodwill — 16,636 Other assets—non-current
7,978 6,225 Total assets $ 399,086 $ 718,307
Liabilities, Convertible Preferred Stock and
Stockholders’ (Deficit) Equity Current liabilities: Accounts
payable $ 52,111 $ 83,869 Accrued compensation and benefits 24,547
56,834 Accrued expenses and other liabilities 5,537 9,018 Deferred
revenue—current 130,569 207,018 Total current
liabilities 212,764 356,739 Deferred revenue—non-current 165,896
255,982 Senior notes 73,260 — Convertible preferred stock warrant
liability 9,679 — Early exercised stock options liability 2,320
1,185 Other liabilities—non-current 1,103 9,163 Total
liabilities 465,022 623,069 Commitments and
contingencies Convertible preferred stock 310,379 —
Stockholders’ (deficit) equity: Common stock 1 4 Additional paid-in
capital 65,629 904,507 Accumulated other comprehensive loss (12 )
(96 ) Accumulated deficit (441,933 ) (809,177 ) Total stockholders’
(deficit) equity (376,315 ) 95,238 Total liabilities,
convertible preferred stock and stockholders’ (deficit) equity $
399,086 $ 718,307
NUTANIX, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (In
thousands, except share and per share data, unaudited)
Three Months Ended Nine Months
Ended April 30, April 30, 2016
2017 2016 2017 Revenue: Product $
89,957 $ 143,142 $ 241,582 $ 411,307 Support and other services
24,733 48,621 63,561 129,460 Total
revenue 114,690 191,763 305,143 540,767
Cost of revenue: Product (1) 33,427 62,593 91,061 173,206 Support
and other services (1) 9,966 20,613 25,347
56,608 Total cost of revenue 43,393 83,206
116,408 229,814 Gross profit 71,297 108,557
188,735 310,953 Operating expenses: Sales and
marketing (1) 75,849 128,007 200,576 368,026 Research and
development (1) 31,390 74,607 81,271 220,802 General and
administrative (1) 8,761 15,610 23,976 60,463
Total operating expenses 116,000 218,224
305,823 649,291 Loss from operations (44,703 )
(109,667 ) (117,088 ) (338,338 )
Other income (expense)—net
(2,106 ) 303 (331 ) (25,830 ) Loss before provision for
income taxes (46,809 ) (109,364 ) (117,419 ) (364,168 )
Provision for income taxes
11 2,613 1,151 3,190 Net loss $ (46,820
) $ (111,977 ) $ (118,570 ) $ (367,358 ) Net loss per share
attributable to common stockholders—basic and diluted $ (1.05 ) $
(0.78 ) $ (2.72 ) $ (3.07 ) Weighted-average shares used in
computing net loss per share attributable to common
stockholders—basic and diluted 44,441,954 144,054,432
43,643,451 119,851,586 (1) Includes the
following stock-based compensation expense: Product cost of sales $
98 $ 610 $ 311 $ 2,424 Support cost of sales 230 2,471 764 8,210
Sales and marketing 2,029 15,726 6,111 65,145 Research and
development 1,519 27,041 4,760 89,826 General and administrative
1,168 4,503 3,434 28,081 $ 5,044 $
50,351 $ 15,380 $ 193,686
NUTANIX, INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (In
thousands, unaudited) Nine Months
Ended
April 30,
2016 2017 Cash flows from operating
activities: Net loss $ (118,570 ) $ (367,358 )
Adjustments to reconcile net loss to net
cash provided by operating activities:
Depreciation and amortization 18,975 27,934 Stock-based
compensation 15,380 193,686 Loss on debt extinguishment — 3,320
Change in fair value of convertible preferred stock warrant
liability (567 ) 21,133 Other (187 ) 777 Changes in operating
assets and liabilities: Accounts receivable—net (24,295 ) (58,841 )
Deferred commission (14,190 ) (13,406 ) Prepaid expenses and other
assets (421 ) (29,628 ) Accounts payable (3,551 ) 32,468 Accrued
compensation and benefits 4,819 32,000 Accrued expenses and other
liabilities (2,147 ) 5,291 Deferred revenue 126,024 160,527
Net cash provided by operating activities 1,270 7,903
Cash flows from investing
activities:
Purchases of property and equipment (33,419 ) (37,797 ) Purchases
of investments (85,740 ) (156,420 ) Maturities of investments
66,613 59,542 Sale of investments — 32,640 Payments for business
acquisitions, net of cash acquired — (184 ) Net cash used in
investing activities (52,546 ) (102,219 )
Cash flows from
financing activities: Proceeds from initial public offering,
net of underwriting discounts and commissions — 254,455 Payments of
offering costs, net (2,791 ) (1,609 ) Proceeds from sales of shares
through employee equity incentive plans, net of repurchases 2,747
26,662 Repayment of senior notes — (75,000 ) Debt extinguishment
costs — (1,580 ) Payment of debt in conjunction with a business
acquisition — (7,124 ) Proceeds from long-term debt - net of
issuance costs 73,319 — Other 836 77 Net cash
provided by financing activities 74,111 195,881 Net
increase in cash and cash equivalents 22,835 101,565 Cash and cash
equivalents—beginning of period 67,879 99,209 Cash
and cash equivalents—end of period $ 90,714 $ 200,774
Supplemental disclosures of cash flow information: Cash paid
for income taxes $ 2,093 $ 3,559 Cash paid for
interest $ — $ 1,271
Supplemental disclosures of
non-cash investing and financing information: Vesting of early
exercised stock options $ 2,658 $ 1,293 Purchases of property and
equipment included in accounts payable $ 2,932 $ 4,496 Offering
costs included in accounts payable $ 980 $ 51 Conversion of
convertible preferred stock to common stock, net of issuance costs
$ — $ 310,379 Reclassification of convertible preferred stock
warrant liability to additional paid-in capital $ — $ 30,812
Issuance of common stock for business acquisitions $ — $ 27,063
Reconciliation of Revenue to Billings (In
thousands, unaudited) Three Months
Ended April 30, Nine Months Ended April 30,
2016 2017 2016 2017 Total
revenue $ 114,690 $ 191,763 $ 305,143 $ 540,767
Change in deferred revenue, net of acquisitions (1) 44,815
42,384 126,024 160,527 Billings $ 159,505 $
234,147 $ 431,167 $ 701,294
(1) Excludes $6.0 million of deferred
revenue assumed in the PernixData acquisition.
Reconciliation of GAAP to Non-GAAP Profit
Measures (In thousands, except share and per share data,
unaudited) GAAP Non-GAAP
Adjustments Non-GAAP Three Months
Three Months Ended April
Ended April 30,
30, 2017
(1)
(2)
(3)
(4)
2017
Gross profit $ 108,557 $ 3,081 $ 358 $ — $ — $ 111,996
Gross margin
56.6 % 1.6 % 0.2 % — 58.4 % Operating expenses: Sales and marketing
$ 128,007 $ (15,726 ) $ (250 ) $ — $ 112,031 Research and
development 74,607 (27,041 ) — — 47,566 General and administrative
15,610 (4,503 ) — 296
11,403 Total operating expenses $ 218,224 $ (47,270 )
$ (250 ) $ 296 $ — $ 171,000 Loss from operations $ (109,667 ) $
50,351 $ 608 $ (296 ) $ — $ (59,004 ) Net loss $ (111,977 ) $
50,351 $ 608 $ (296 ) $ 513 $ (60,801 ) Weighted-shares
outstanding, basic and diluted 144,054,432 144,054,432
Net loss per share, basic and diluted $ (0.78 ) $ 0.35 $
0.01 $ — $ — $ (0.42 )
(1) Stock-based compensation
expense (2) Amortization of intangible assets (3)
Change in fair value of contingent consideration assumed in the
PernixData acquisition (4) Tax effect of stock-based
compensation expense GAAP
Non-GAAP Adjustments Non-GAAP Three
Months Three Months Ended April Ended
April 30, 2016
(1)
(2) 30, 2016 Gross profit $ 71,297 $ 328 $ — $
71,625 Gross margin 62.2 % 0.3 % — % 62.5 % Operating expenses:
Sales and marketing $ 75,849 $ (2,029 ) $ — $ 73,820 Research and
development 31,390 (1,519 ) — 29,871 General and administrative
8,761 (1,168 ) — 7,593 Total operating
expenses $ 116,000 $ (4,716 ) $ — $ 111,284 Loss from operations $
(44,703 ) $ 5,044 $ — $ (39,659 ) Net loss $ (46,820 ) $ 5,044 $
1,337 $ (40,439 ) Weighted-shares outstanding, basic and diluted
44,441,954 44,441,954 Pro forma adjustment 76,319,511
76,319,511 Pro forma weighted-shares outstanding, basic and
diluted 120,761,465 120,761,465 Net loss per share,
basic and diluted $ (1.05 ) Pro forma net loss per share, basic and
diluted $ (0.39 ) $ 0.05 $ 0.01 $ (0.33 )
(1) Stock-based compensation
expense
(2) Change in fair value of preferred stock warrant
liability GAAP
Non-GAAP Adjustments Non-GAAP
Nine MonthsEnded April30,
2017
(1) (2) (3) (4)
(5) (6) (7)
Nine MonthsEnded April30,
2017
Gross profit $ 310,953 $ 10,634 $ 956 $ — $ —
$ — $ — $ — $ 322,543 Gross margin 57.5 % 2.0
% 0.2 % — % — % — % — % — % 59.7 % Operating expenses: Sales and
marketing $ 368,026 $ (65,145 ) $ (665 ) $ — $ — $ — $ — $ — $
302,216 Research and development 220,802 (89,826 ) — — — — — —
130,976 General and administrative 60,463 (28,081 ) —
(176 ) (672 ) — — —
31,534 Total operating expenses $ 649,291 $ (183,052 ) $
(665 ) $ (176 ) $ (672 ) $ — $ — $ — $ 464,726 Loss from operations
$ (338,338 ) $ 193,686 $ 1,621 $ 176 $ 672 $ — $ — $ — $ (142,183 )
Net loss $ (367,358 ) $ 193,686 $ 1,621 $ 176 $ 672 $ 21,133 $
3,320 $ (1,721 ) $ (148,471 ) Weighted-shares outstanding, basic
and diluted 119,851,586 119,851,586 Pro forma adjustment 18,171,312
18,171,312 Pro forma weighted-shares outstanding,
basic and diluted 138,022,898 138,022,898 Net loss
per share, basic and diluted $ (3.07 ) Pro forma net loss per
share, basic and diluted $ (2.66 ) $ 1.40 $ 0.01 $ — $ 0.01 $ 0.15
$ 0.02 $ (0.01 ) $ (1.08 )
(1)
Stock-based compensation
expense
(2)
Amortization of intangible
assets
(3)
Change in fair value of contingent
consideration assumed in the PernixData acquisition
(4)
Acquisition-related costs
(5)
Change in fair value of preferred stock
warrant liability
(6)
Loss on debt extinguishment
(7)
Partial release of valuation allowance
from the PernixData acquisition and tax effect of stock-based
compensation expense
GAAP Non-GAAP
Adjustments Non-GAAP
Nine MonthsEnded April
30,2016
(1) (2)
Nine MonthsEnded April30,
2016
Gross profit $ 188,735 $ 1,075 $ — $ 189,810 Gross margin
61.9 % 0.3 % — % 62.2 % Operating expenses: Sales and marketing $
200,576 $ (6,111 ) $ — $ 194,465 Research and development 81,271
(4,760 ) — 76,511 General and administrative 23,976 (3,434 )
— 20,542 Total operating expenses $ 305,823 $
(14,305 ) $ — $ 291,518 Loss from operations $ (117,088 ) $ 15,380
$ — $ (101,708 ) Net loss $ (118,570 ) $ 15,380 $ (567 ) $ (103,757
) Weighted-shares outstanding, basic and diluted 43,643,451
43,643,451 Pro forma adjustment 76,319,511 76,319,511
Pro forma weighted-shares outstanding, basic and diluted
119,962,962 119,962,962 Net loss per share, basic and
diluted $ (2.72 ) Pro forma net loss per share, basic and diluted $
(0.99 ) $ 0.13 $ — $ (0.86 )
(1) Stock-based compensation
expense
(2) Change in fair value of
preferred stock warrant liability
Reconciliation of GAAP Net Cash
Provided By (Used in) Operating Activities to Non-GAAP Free Cash
Flow
(In thousands, unaudited)
Three Months Ended April 30, Nine Months Ended April
30, 2016 2017 2016
2017 Net cash provided by (used in) operating activities $
2,413 $ (16,009 ) $ 1,270 $ 7,903 Purchase of property and
equipment (13,398 ) (13,181 ) (33,419 ) (37,797 ) Free cash flow $
(10,985 ) $ (29,190 ) $ (32,149 ) $ (29,894 )
View source
version on businesswire.com: http://www.businesswire.com/news/home/20170525005851/en/
Nutanix, Inc.Investor Contact:Tonya Chin,
408-560-2675tonya@nutanix.comorMedia Contact:Raj Badarinath,
650-200-0725raj.badarinath@nutanix.com
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