Nutanix Reports Fourth Quarter and Fiscal 2024 Financial Results

About this update from Nutanix, Inc.

[{"type":"text","content":"\nReports 22% YoY ARR Growth and Strong Free Cash Flow for Fiscal 2024\n\n\nDelivers Outperformance Across All Fourth Quarter Guided Metrics\n\n\n SAN JOSE, Calif.--(BUSINESS WIRE)--\nNutanix, Inc. (NASDAQ: NTNX), a leader in hybrid multicloud computing, today announced financial results for its fourth quarter and fiscal year ended July 31, 2024.\n\nThis press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240828409461/en/\n“Our fourth quarter was a solid finish to a fiscal year that showed good progress on our financial model with solid top line growth and sharp year-over-year improvement in profitability,” said Rajiv Ramaswami, President and CEO of Nutanix. “In fiscal 2024, we also made notable progress on partnerships, signing new or enhanced agreements with Cisco, NVIDIA and Dell, and continued to innovate towards our goal of being the leading platform for running applications and managing data, anywhere.”\n\n\n“Our fiscal 2024 results demonstrated a good balance of top and bottom line performance with 22% year-over-year ARR growth, strong free cash flow generation and our first full year of positive GAAP operating income,” said Rukmini Sivaraman, CFO of Nutanix. “We remain focused on delivering sustainable, profitable growth.”\n\n\nFourth Quarter Fiscal 2024 Financial Summary\n\n\n\n\n \n\n\n\n\n\n\nQ4 FY’24\n\n\n\n\n\n\nQ4 FY’23\n\n\n\n\n\n\nY/Y Change\n\n\n\n\n\n\n\n\nAnnual Contract Value (ACV)1 Billings\n\n\n\n\n\n\n$338.0 million\n\n\n\n\n\n\n$278.7 million\n\n\n\n\n\n\n21%\n\n\n\n\n\n\n\n\nAnnual Recurring Revenue (ARR)2\n\n\n\n\n\n\n$1.91 billion\n\n\n\n\n\n\n$1.56 billion\n\n\n\n\n\n\n22%\n\n\n\n\n\n\n\n\nAverage Contract Duration3\n\n\n\n\n\n\n3.1 years\n\n\n\n\n\n\n3.0 years\n\n\n\n\n\n\n0.1 year\n\n\n\n\n\n\n\n\nRevenue\n\n\n\n\n\n\n$548.0 million\n\n\n\n\n\n\n$494.2 million\n\n\n\n\n\n\n11%\n\n\n\n\n\n\n\n\nGAAP Gross Margin\n\n\n\n\n\n\n85.2%\n\n\n\n\n\n\n83.7%\n\n\n\n\n\n\n150 bps\n\n\n\n\n\n\n\n\nNon-GAAP Gross Margin\n\n\n\n\n\n\n86.9%\n\n\n\n\n\n\n85.8%\n\n\n\n\n\n\n110 bps\n\n\n\n\n\n\n\n\nGAAP Operating Expenses\n\n\n\n\n\n\n$479.2 million\n\n\n\n\n\n\n$425.1 million\n\n\n\n\n\n\n13%\n\n\n\n\n\n\n\n\nNon-GAAP Operating Expenses\n\n\n\n\n\n\n$405.5 million\n\n\n\n\n\n\n$360.6 million\n\n\n\n\n\n\n12%\n\n\n\n\n\n\n\n\nGAAP Operating Loss\n\n\n\n\n\n\n$(12.2...

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