Slide 1: Q1 FY2026 Earnings
Q1 FY2026 Earnings November 25, 2025
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, including our continued progress with our partners; the impact of the revenue shift from Q1 into
Slide 4: Q1 FY2026 Company Highlights
Q1 FY2026 Company Highlights Q1 revenue of $670.6 million was up 13% year-over-year and ARR(1) of Reports Q1'26 Results $2.284B increased 18% year-over-year. We also generated Free Cash Flow of $174.5 million, up 15% year-over-year. Another Solid Quarter of New Our total customer count grew to 29,93
Slide 5: Management Commentary
Management Commentary We saw solid demand for our cloud platform in Bookings in our first quarter were slightly higher our first quarter, with bookings that were slightly than expected. However, late in the quarter, we ahead of our expectations, ARR growth of 18% saw some revenue shift from Q1 into
Slide 6: Q1 FY2026 Financial Summary
Q1 FY2026 Financial Summary Q1’26 Results Y/Y Change Q1’26 Guidance Annual Recurring Revenue(1) $2.28B 18% N/A Average Contract Duration 3.1 Years 0.0 Year N/A Revenue $670.6M 13% $670 – $680M Non-GAAP Gross Margin 88.0% 50 bps N/A Non-GAAP Operating Expenses $458.0M 15% N/A Non-GAAP Operating Incom
Slide 7: Annual Recurring Revenue
Annual Recurring Revenue(1) +18% Y/Y $ Millions $2,284 $2,202 $2,119 $2,027 $1,943 $1,873 $1,801 $1,726 $1,628 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 1. Beginning with the first quarter of fiscal 2026, our methodology for calculating ARR was updated to align more closely with the timi
Slide 8: Customer Growth
Customer Growth Q1’26 Highlights Cumulative Customer Count 29,930 29,290 28,490 27,870 (1) 27,160 26,530 25,860 24,930 25,370 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Note: The cumulative customer count reflects standard adjustments/consolidation to certain customer accounts within our
Slide 9: Q2'26 Financial Guidance
Q2’26 Financial Guidance Q2’26 Guidance Revenue $705 – $715M Non-GAAP Operating Margin 20.5% to 21.5% Weighted Average Shares ~296M Outstanding (Diluted)(1) 1. Weighted average share count used in computing diluted non-GAAP net income per share. 9 Note: Q2’26 guidance is as of November 25, 2025.
Slide 10: FY'26 Financial Guidance
Guidance Commentary: FY’26 Financial Guidance 1. It is important to note that the Company’s full-year bookings growth expectations remain unchanged relative to its last earnings call. The Company is also pleased to raise its free cash flow guidance for the full year. However, as the Company saw late
Slide 11: Appendix
Appendix NUTAND<
Slide 12: 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 13: Definitions
Definitions Annual Recurring Revenue(1), or ARR, is defined as the sum of ACV for all subscription contracts from all customers in effect as of the end of a specific period, assuming any subscription contract that expires is renewed on its existing terms. ARR excludes the value of professional servi
Slide 14: GAAP to Non-GAAP Reconciliations
GAAP to Non-GAAP Reconciliations Q1’25 Q2’25 Q3’25 Q4’25 Q1’26 Gross Margin (GAAP) 86.0% 87.0% 87.0% 87.2% 87.0% Stock-Based Compensation Expense 1.4 1.2 1.1% 1.1% 1.0% Amortization of Intangible Assets 0.1 0.1 0.1% – – Gross Margin (Non-GAAP) 87.5% 88.3% 88.2% 88.3% 88.0% Operating Expenses (GAAP)
Slide 15: GAAP to Non-GAAP Reconciliations
GAAP to Non-GAAP Reconciliations Q1’25 Q2’25 Q3’25 Q4’25 Q1’26 Net Income (GAAP) $29.9 $56.4 $63.4 $38.7 $62.1 Stock-Based Compensation Expense 88.7 93.4 84.2 85.2 77.7 Amortization of Intangible Assets 0.9 0.9 0.6 0.1 0.2 Litigation-Related Costs 1.3 1.6 3.5 3.0 4.6 Amortization and Conversion of D
Slide 16: Thank You
NUTAND< Thank You