Slide 1: Preliminary Q2 FY2023 Earnings
PRELIMINARY Q2 FY2023 EARNINGS March 6, 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: free cash flow, An
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: Q2 Fiscal 2023 Company Highlights
Announced Availability of AOS™ 6.6: Nutanix announced the availability of its AOS™ 6.6 software release, bringing enhanced data services and simplified networking and security to the Nutanix Cloud Platform. Q2 Fiscal Announced Details for .NEXT 2023 User Conference: Nutanix announced the details of
Slide 5: Management Commentary
Management Commentary Rajiv Ramaswami, President and Chief Executive Officer “We delivered a solid second quarter financial performance against an uncertain macro backdrop, underpinned by the strength of our subscription-based business model. The value proposition of our platform is resonating with
Slide 6: Preliminary Q2'23 Financial Summary
Preliminary Q2’23 Financial Summary Q2’23 Results Y/Y Change Q2’23 Guidance ACV Billings $267.6M 23% $245 - $250M Annual Recurring Revenue $1.38B 32% N/A Average Contract Term 3.0 Years (0.1) Year N/A Revenue $486.5M 18% $460 - $470M Net Cash Provided by Operating Activities $74.1M $48.3M N/A Free C
Slide 7: Annual Recurring Revenue
Annual Recurring Revenue +32% Y/Y $1,378 $1,281 $1,202 $1,114 $1,042 $953 $879 $ Millions $762 $673 Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 (Preliminary) Note: See Appendix for definition of Annual Recurring Revenue. There is no GAAP measure that is comparable to Annual Recurring Reven
Slide 8: ACV Billings
ACV Billings +23% Y/Y $268 $232 $218 $205 $193 $183 $ Millions $176 $159 $160 Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 (Preliminary) Note: ACV Billings exclude amounts related to professional services and hardware. See Appendix for definitions of ACV and ACV Billings. There is no GAAP m
Slide 9: Customer Growth
Customer Growth Q2’23 Highlights 23,620 23,130 Cumulative Customer Count (1) 22,600 21,980 21,400 20,700 10% 20,130 Total Customers Y/Y Growth 19,430 18,770 (2) 22.8 G2K Lifetime ACV Repeat Purchase Multiple 90 NPS 7-Year Average Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 (1) The cumulati
Slide 10: Over $1M Customer Growth
Over $1M Customer Growth Q2’23 Highlights Cumulative End-customers 2,013 1,411 (1) 1,918 +22% with Lifetime Bookings (LTB) > $1M 1,841 Customers Y/Y $1-$3M in LTB 1,747 1,662 1,580 281 +14% 1,512 1,433 Customers Y/Y $3-$5M in LTB 1,358 196 +21% Customers Y/Y $5-$10M in LTB 125 +24% Customers Y/Y >$1
Slide 11: Q3'23 Financial Guidance
Q3’23 Financial Guidance Q3’23 Guidance ACV Billings $220 - $225M Revenue $430 - $440M Modeling Assumptions: 1. The topline guidance for Q3’23 assumes that supply chain dynamics for the Company’s server partners would remain more or less the same compared to Q2’23. It also assumes that contract dura
Slide 12: FY'23 Financial Guidance
FY’23 Financial Guidance FY’23 Guidance ACV Billings $905 - $915M Revenue $1.80 - $1.81B Free Cash Flow $100 - $125M Modeling Assumptions: 1. The Company is seeing continued new and expansion opportunities for its solutions despite the uncertain macro environment. However, as Rajiv mentioned, the Co
Slide 13: Appendix
Appendix
Slide 14: Nutanix Reporting Model
Nutanix Reporting Model Revenue Product Type Product Mix Term 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 Non-portable Software Life of the Device (LoD) Upf
Slide 15: Endnote and Definitions
Endnote and Definitions Endnote 1. G2K lifetime ACV repeat purchase multiple is defined as ACV of total lifetime purchase divided by ACV of initial purchase, for G2K customers that have been customers for over 18 months. G2K customers are customers who are listed on the Global 2000 list as reported
Slide 16: GAAP to Non-GAAP Reconciliation
GAAP to Non-GAAP Reconciliation Q2’22 Q3’22 Q4’22 Q1’23 Q2’23 Net cash provided by (used in) operating activities $25.8 $(3.2) $38.0 $66.5 $74.1 Purchases of property and equipment (8.6) (16.9) (14.8) (19.7) (11.1) Free cash flow (Non-GAAP) $17.2 $(20.1) $23.2 $45.8 $63.0 Note: All amounts in millio
Slide 17: Thank You
NUTAND<. THANK YOU &