Slide 1: Q3 FY2023 Earnings
Q3 FY2023 Earnings May 24, 2023
Slide 2: Safe Harbor: Non-GAAP Financial Measures
Safe Harbor Non-GAAP Financial Measures and Other Key Performance Measures To supplement our consolidated financial statements, which are prepared and presented in accordance with GAAP, this presentation includes the following non-GAAP financial and other key performance measures: non-GAAP gross mar
Slide 3: Safe Harbor: Forward Looking Statements
Safe Harbor Forward Looking Statements This presentation and the accompanying oral commentary contain express and implied forward-looking statements, including, but not limited to, statements regarding: our business plans, strategies, initiatives, vision, objectives, and outlook (including our growt
Slide 4: Q3 FY2023 Company Highlights
Q3 FY2023 Company Highlights Delivers Outperformance Across ACV Billings of $240 million were up 17% year-over-year and revenue of All Fiscal Q3’23 Guided Metrics $449 million was up 11% year-over-year. Investor Day 2023 will be held in New York City on September 26, 2023. Announced Webcast Informat
Slide 5: Management Commentary
Management Commentary Our business performed well in the third Our third quarter results continued to quarter against an uncertain macro backdrop, demonstrate a good balance of growth and as the value proposition of our cloud platform profitability, resulting in year-to-date ACV continued to resonat
Slide 6: Q3 FY2023 Financial Summary
Q3 FY2023 Financial Summary1 Q3’23 Results Y/Y Change Q3’23 Guidance ACV Billings $239.8M 17% $220–$225M Annual Recurring Revenue $1.47B 32% N/A Average Contract Term 3.0 Years (0.2) Year N/A Revenue $448.6M 11% $430–$440M Non-GAAP Gross Margin 84.0% 70 bps N/A Non-GAAP Operating Expenses $359.8M 5%
Slide 7: Annual Recurring Revenue
Annual Recurring Revenue +32% Y/Y $ Millions $1,467 $1,378 $1,281 $1,202 $1,114 $1,042 $953 $879 $762 Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Note: See Appendix for definition of Annual Recurring Revenue. There is no GAAP measure that is comparable to Annual Recurring Revenue, so the C
Slide 8: ACV Billings
ACV Billings $ Millions +17% $268 Y/Y $240 $232 $218 $205 $193 $176 $183 $160 Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Note: ACV Billings exclude amounts related to professional services and hardware. See Appendix for definition of ACV Billings. There is no GAAP measure that is comparab
Slide 9: Customer Growth
Customer Growth Q3’23 Highlights Cumulative Customer Count(2) 23,620 24,050 23,130 9% 22,600 21,400 21,980 20,130 20,700 (1) 19,430 Total Customers Y/Y Growth 24.0(2) G2K Lifetime ACV Repeat Purchase Multiple 90 NPS 7-Year Average Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 1. The cumulati
Slide 10: Over $1M Customer Growth
Over $1M Customer Growth Q3’23 Highlights Cumulative End-Customers with 2,085 Lifetime Bookings (LTB) > $1M 1,841 1,918 2,013 1,442 +18% Y/Y (1) Customers 1,747 1,662 $1–$3M in LTB 1,580 1,512 1,433 301 +19% Customers Y/Y $3–$5M in LTB 209 +20% Customers $5–$10M in LTB Y/Y 133 +30% Customers >$10M i
Slide 11: Q4'23 Financial Guidance
Q4’23 Financial Guidance Q4’23 Guidance ACV Billings $240 – $250M Revenue $470 – $480M Non-GAAP Gross Margin ~84% Non-GAAP Operating Margin 9% to 10% Weighted Average Shares ~282M Outstanding (Diluted) Note: Q4’23 guidance is as of May 24, 2023. See Appendix for definition of ACV Billings. There is
Slide 12: FY'23 Financial Guidance
FY’23 Financial Guidance Modeling Assumptions: 1. The Company is seeing continued new and expansion opportunities for its solutions despite the uncertain macro environment. However, similar to last quarter, the Company has seen a modest elongation of sales cycles likely due to increased deal inspect
Slide 13: Appendix
Appendix NUTAND<
Slide 14: Nutanix Reporting Model
Nutanix Reporting Model Product Type Product Mix Term Revenue Recognized Term-based Subscription 1, 3, or 5 Years Upfront Subscription SaaS Subscription Monthly up to 5 Years Ratable Support and Entitlements 1, 3, or 5 Years Ratable Software License Attached Non-Portable Software Life of the Device
Slide 15: Endnote and Definitions
Endnote and Definitions Endnote 1. This earnings presentation corrects a prior version published on May 24, 2023. Subsequent to the issuance of its third quarter earnings presentation issued on May 24, 2023, Nutanix, Inc. determined that a total of $10.2 million of withholding taxes due upon the ves
Slide 16: GAAP to Non-GAAP Reconciliations
GAAP to Non-GAAP Reconciliations Q3’22 Q4’22 Q1’23 Q2’23 Q3’23 Gross Margin (GAAP) 80.2% 79.3% 81.0% 82.2% 81.6% Stock-Based Compensation Expense 2.3 2.4 1.7 2.1 1.9 Amortization of Intangible Assets 0.8 0.9 0.7 0.5 0.5 Gross Margin (Non-GAAP) 83.3% 82.6% 83.4% 84.8% 84.0% Operating Expenses (GAAP)
Slide 17: GAAP to Non-GAAP Reconciliations
GAAP to Non-GAAP Reconciliations Q3’22 Q4’22 Q1’23 Q2’23 Q3’23 Net Loss (GAAP) $(112.0) $(151.3) $(99.5) $(70.8) $(71.0) Stock-Based Compensation Expense 84.5 80.1 81.0 85.3 72.9 Amortization of Intangible Assets 4.0 4.1 3.1 2.7 2.6 Early Exit of Leased-Related Assets – 0.6 0.9 0.8 – Restructuring C
Slide 18: Thank You
NUTAND< Thank You