Slide 1: Q3 FY2024 Earnings
Q3 FY2024 Earnings May 29, 2024
Slide 2: Safe Harbor: Non-GAAP Financial Measures and Other Key Performance 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 contains express and implied forward-looking statements, including, but not limited to, statements regarding: our business momentum and prospects, our fourth quarter fiscal 2024 outlook, and our fiscal 2024 outlook. These forward-looking state
Slide 4: Q3 FY2024 Company Highlights
Q3 FY2024 Company Highlights Delivers Outperformance Across ACV Billings of $288.9 million were up 20% year-over-year and revenue of All Q3’24 Guided Metrics $524.6 million was up 17% year-over-year. FY’24 outlook raised for ACV Billings, Non-GAAP Operating Margin, Non- Raises Most FY’24 Guided Metr
Slide 5: Management Commentary
Management Commentary We delivered solid third quarter results Our third quarter results demonstrated a good reflecting disciplined execution and the balance of top and bottom line performance strength of our business model. Our recent with 24% year-over-year ARR growth and announcements around mode
Slide 6: Q3 FY2024 Financial Summary
Q3 FY2024 Financial Summary Q3’24 Results Y/Y Change Q3’24 Guidance ACV Billings $288.9M 20% $265 – $275M Annual Recurring Revenue $1.82B 24% N/A Average Contract Duration 3.0 Years 0.0 Years N/A Revenue $524.6M 17% $510 – $520M Non-GAAP Gross Margin 86.5% 250 bps ~85% Non-GAAP Operating Expenses $3
Slide 7: Annual Recurring Revenue
Annual Recurring Revenue +24% Y/Y $ Millions $1,820 $1,737 $1,664 $1,562 $1,467 $1,378 $1,281 $1,202 $1,114 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Note: See Appendix for definition of Annual Recurring Revenue. There is no GAAP measure that is comparable to Annual Recurring Revenue, so
Slide 8: ACV Billings
ACV Billings $ Millions +20% $329 Y/Y $287 $289 $279 $268 $232 $240 $205 $193 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 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 Q3’24 Highlights Cumulative Customer Count 25,370 25,860 24,550 24,930 23,620 24,050 22,600 23,130 21,980 (1) Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Note: The cumulative customer count reflects standard adjustments/consolidation to certain customer accounts within our
Slide 10: Q4'24 Financial Guidance
Q4’24 Financial Guidance Q4’24 Guidance ACV Billings $295 – $305M Revenue $530 – $540M Non-GAAP Gross Margin 85% to 86% Non-GAAP Operating Margin 9% to 10% Weighted Average Shares ~302M Outstanding (Diluted)(1) 1. See endnote 1 in the Appendix. Note: Q4’24 guidance is as of May 29, 2024. See Appendi
Slide 11: FY'24 Financial Guidance
FY’24 Financial Guidance Modeling Assumptions: 1. The Company is seeing continued and significant new and expansion opportunities for its solutions. However, the Company continues to see a higher mix of larger deals in its pipeline, which is driving greater variability in its new and expansion busin
Slide 12: Appendix
Appendix NUTAND<
Slide 13: Nutanix Reporting Model
Nutanix Reporting Model Product Type Product Mix Contract Duration Revenue Recognized Term-based 1, 3, or 5 Years Upfront Subscription Subscription SaaS Subscription Monthly up to 5 Years Ratable Support and 1, 3, or 5 Years Ratable Entitlements Professional Services for Professional Services Variou
Slide 14: Endnote and Definitions
Endnote and Definitions Endnote 1. Weighted average share count used in computing diluted non-GAAP net income per share. Definitions Annual Contract Value, or ACV, is defined as the total annualized value of a contract. The total annualized value for a contract is calculated by dividing the total va
Slide 15: Transition to Net Share Settlement
Transition to Net Share Settlement During Q2’24, Nutanix began funding withholding taxes due on the vesting of employee RSUs by net share settlement rather than our previous “sell-to-cover” approach. What Does This Mean? • When employee RSUs vest each quarter, Nutanix withholds shares that would be
Slide 16: GAAP to Non-GAAP Reconciliations
GAAP to Non-GAAP Reconciliations Q3’23 Q4’23 Q1’24 Q2’24 Q3’24 Gross Margin (GAAP) 81.6% 83.7% 84.0% 85.6% 84.8% Stock-Based Compensation Expense 1.9 1.7 1.7 1.6 1.6 Amortization of Intangible Assets 0.5 0.4 0.2 0.1 0.1 Gross Margin (Non-GAAP) 84.0% 85.8% 85.9% 87.3% 86.5% Operating Expenses (GAAP)
Slide 17: GAAP to Non-GAAP Reconciliations
GAAP to Non-GAAP Reconciliations Q3’23 Q4’23 Q1’24 Q2’24 Q3’24 Net (Loss) Income (GAAP) $(71.0) $(13.3) $(15.9) $32.8 $(15.6) Stock-Based Compensation Expense 72.9 72.6 84.0 86.0 82.3 Amortization of Intangible Assets 2.6 2.2 1.2 0.8 0.8 Restructuring Charges – – – (0.2) – Litigation-Related Costs 0
Slide 18: Thank You
NUTAND< Thank You