Press release
CORRECTING and REPLACING: Nutanix Reports Third Quarter Fiscal 2023 Financial Results
Delivers Outperformance Across All Fiscal Q3’23 Guided Metrics Completes Audit Committee Investigation and Files Form 10-Q for Fiscal Q2’23 SAN JOSE,
About this update from Nutanix, Inc.
[{"type":"text","content":"\nDelivers Outperformance Across All Fiscal Q3’23 Guided Metrics\n\n\nCompletes Audit Committee Investigation and Files Form 10-Q for Fiscal Q2’23\n\n\n SAN JOSE, Calif.--(BUSINESS WIRE)--\nThis press release corrects a prior version published on May 24, 2023. Subsequent to the issuance of its third quarter earnings release issued on May 24, 2023, Nutanix, Inc. determined that a total of $10.2 million of withholding taxes due upon the vesting of certain employee RSUs which were satisfied by net share settlement on a one-time basis was incorrectly recorded as expense for the fiscal quarter ended April 30, 2023 ($9.3 million of which was incorrectly recorded as operating expense and $0.9 million of which was incorrectly recorded as cost of revenue) instead of a reduction to additional paid-in capital as of April 30, 2023. This corrected press release reflects corrections to address this error.\n\nThis press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230524005344/en/\nThe updated release reads:\n\n\nNUTANIX REPORTS THIRD QUARTER FISCAL 2023 FINANCIAL RESULTS\n\n\nDelivers Outperformance Across All Fiscal Q3’23 Guided Metrics\n\n\nCompletes Audit Committee Investigation and Files Form 10-Q for Fiscal Q2’23\n\n\nNutanix, Inc. (NASDAQ: NTNX), a leader in hybrid multicloud computing, today announced financial results for its third quarter ended April 30, 2023.\n\n\n“Our business performed well in the third quarter against an uncertain macro backdrop, as the value proposition of our cloud platform continued to resonate with customers,” said Rajiv Ramaswami, President and CEO of Nutanix. “We are also pleased to have completed the Audit Committee investigation regarding third-party software usage and to have filed our Form 10-Q for our second quarter of fiscal 2023.”\n\n\n“Our third quarter results continued to demonstrate a good balance of growth and profitability, resulting in year-to-date ACV Billings growth exceeding 20%, combined with strong year-to-date free cash flow generation,” said Rukmini Sivaraman, CFO of Nutanix. “We continue to execute on our growing base of subscription renewals and remain focused on sustainable, profitable growth.”\n\n\nAdditionally, upon conclusion of its investigation related to third-party software usage, the Audit Committee determined that evaluati...