Slide 1: Q4 FY2024 Earnings
Q4 FY2024 Earnings August 28, 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 plan to continue innovating towards our goal of being the leading platform for running appli
Slide 4: Q4 and FY'24 Company Highlights
Q4 and FY’24 Company Highlights Delivered Outperformance FY’24 Revenue of $2.15 billion was up 15% year-over-year and FY’24 Free Across All Q4’24 and FY’24 Cash Flow (FCF) was $598 million, almost 3x higher than FY’23. Guided Metrics FY’24 Revenue growth of 15% plus a FY’24 FCF Margin of 28% resulte
Slide 5: Management Commentary
Management Commentary Our fourth quarter was a solid finish to a fiscal Our fiscal 2024 results demonstrated a good year that showed good progress on our balance of top and bottom line performance financial model with solid top line growth and with 22% year-over-year ARR growth, strong sharp year-ov
Slide 6: Q4 FY2024 Financial Summary
Q4 FY2024 Financial Summary Q4’24 Results Y/Y Change Q4’24 Guidance ACV Billings $338.0M 21% $295 – $305M Annual Recurring Revenue $1.91B 22% N/A Average Contract Duration 3.1 Years 0.1 Year N/A Revenue $548.0M 11% $530 – $540M Non-GAAP Gross Margin 86.9% 110 bps 85% to 86% Non-GAAP Operating Expens
Slide 7: Annual Recurring Revenue
Annual Recurring Revenue +22% Y/Y $ Millions $1,908 $1,820 $1,737 $1,664 $1,562 $1,467 $1,378 $1,281 $1,202 Q4'22 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 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 +21% Y/Y $329 $338 $287 $289 $279 $268 $232 $240 $193 Q4'22 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 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 Q4’24 Highlights Cumulative Customer Count 26,530 25,860 25,370 24,930 (1) 24,550 24,050 23,620 23,130 22,600 Q4'22 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Note: The cumulative customer count reflects standard adjustments/consolidation to certain customer accounts within our
Slide 10: Q1'25 Financial Guidance
Q1’25 Financial Guidance Q1’25 Guidance Revenue $565 – $575M Non-GAAP Operating Margin 14.5% to 15.5% Weighted Average Shares ~287M Outstanding (Diluted)(1) 1. See endnote 1 in the Appendix. 10 Note: Q1’25 guidance is as of August 28, 2024.
Slide 11: FY'25 Financial Guidance
FY’25 Financial Guidance Guidance Commentary: 1. As previously mentioned at the Company’s 2023 Investor Day, the Company is streamlining its metrics by not guiding or disclosing ACV Billings starting in FY25. ACV Billings was intended as a transitional metric during the Company’s subscription evolut
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 Q4’23 Q1’24 Q2’24 Q3’24 Q4’24 FY’24 Gross Margin (GAAP) 83.7% 84.0% 85.6% 84.8% 85.2% 84.9% Stock-Based Compensation Expense 1.7 1.7 1.6 1.6 1.6 1.6 Amortization of Intangible Assets 0.4 0.2 0.1 0.1 0.1 0.2 Gross Margin (Non-GAAP) 85.8% 85.9% 87.3% 86.5% 86.9% 86.7%
Slide 17: GAAP to Non-GAAP Reconciliations
GAAP to Non-GAAP Reconciliations Q4’23 Q1’24 Q2’24 Q3’24 Q4’24 FY’24 Net (Loss) Income (GAAP) $(13.3) $(15.9) $32.8 $(15.6) $(126.1) $(124.8) Stock-Based Compensation Expense 72.6 84.0 86.0 82.3 81.6 333.8 Amortization of Intangible Assets 2.2 1.2 0.8 0.8 0.9 3.7 Restructuring Charges – – (0.2) – –
Slide 18: Thank You
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