Business
Nutanix Reports Third Quarter Fiscal 2020 Financial Results
-- Increased Remote Work and Demand for “Zero Touch” IT Drove 18% YoY TCV Revenue Growth -- Delivered 84% of Billings from Subscription During Continued
About this update from Nutanix, Inc.
[{"type":"text","content":"\n-- Increased Remote Work and Demand for “Zero Touch” IT Drove 18% YoY TCV Revenue Growth \n\n\n-- Delivered 84% of Billings from Subscription During Continued Transition to Subscription Business Model with 340 Basis Point YoY Improvement in Gross Margins \n\n\n-- Proactive Operating Expense Management Aided Bottom-Line Results\n\n SAN JOSE, Calif.--(BUSINESS WIRE)--\nNutanix, Inc. (NASDAQ: NTNX), a leader in enterprise cloud computing, today announced financial results for the third quarter of fiscal 2020 ended April 30, 2020.\nThis press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200527005785/en/Nutanix Q3 FY'20 Earnings Infographic (Graphic: Business Wire)\n\nQ3 Fiscal 2020 Financial Highlights\n\n\n\nRevenue: $318.3 million, up 11% year-over-year from $287.6 million in the third quarter of fiscal 20191\n\n\nBillings: $383.5 million, up 11% year-over-year from $346.0 million in the third quarter of fiscal 20191\n\n\nSoftware and Support (TCV)2 Revenue: $314.5 million, up 18% year-over-year from $265.8 million in the third quarter of fiscal 2019\n\n\nSoftware and Support (TCV)2 Billings: $379.7 million, up 17% year-over-year from $324.2 million in the third quarter of fiscal 2019\n\n\nGross Margin: GAAP gross margin of 77.3%, up from 73.9% in the third quarter of fiscal 2019; Non-GAAP gross margin of 80.7%, up from 77.1% in the third quarter of fiscal 2019\n\n\nNet Loss: GAAP net loss of $240.7 million, compared to a GAAP net loss of $209.8 million in the third quarter of fiscal 2019; Non-GAAP net loss of $135.2 million, compared to a non-GAAP net loss of $103.0 million in the third quarter of fiscal 2019\n\n\nNet Loss Per Share: GAAP net loss per share of $1.23, compared to a GAAP net loss per share of $1.15 in the third quarter of fiscal 2019; Non-GAAP net loss per share of $0.69, compared to a non-GAAP net loss per share of $0.56 in the third quarter of fiscal 2019\n\n\nCash and Short-term Investments: $732.1 million, down from $940.8 million in the third quarter of fiscal 2019\n\n\nDeferred Revenue: $1.12 billion, up 34% from the third quarter of fiscal 2019\n\n\nOperating Cash Flow: Use of $84.9 million, compared to use of $36.5 million in the third quarter of fiscal 2019\n\n\nFree Cash Flow: Use of $117.5 million, compared to use of $58.9 million in the third quarte...