Slide 1: Q4 FY2023 Earnings
Q4 FY2023 Earnings August 31, 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: Q4 FY2023 Company Highlights
Q4 FY2023 Company Highlights Delivers Outperformance Across ACV Billings of $279 million were up 44% year-over-year and revenue of All Fiscal Q4’23 Guided Metrics $494 million was up 28% year-over-year. Nutanix Simplifies Customer Announced Nutanix GPT-in-a-Box, a solution allowing customers to easi
Slide 5: Management Commentary
Management Commentary Our fourth quarter capped off a fiscal year that Our fiscal year 2023 results demonstrated a showed healthy year-over-year top line growth good balance of growth and profitability and and sharp year-over-year improvements in further strengthened our balance sheet. In profitabil
Slide 6: Q4 FY2023 Financial Summary
Q4 FY2023 Financial Summary Q4’23 Results Y/Y Change Q4’23 Guidance ACV Billings $278.7M 44% $240–$250M Annual Recurring Revenue $1.56B 30% N/A Average Contract Term 3.0 Years (0.2) Years N/A Revenue(1) $494.2M 28% $470–$480M Non-GAAP Gross Margin 85.8% 320 bps ~84% Non-GAAP Operating Expenses $360.
Slide 7: Annual Recurring Revenue
Annual Recurring Revenue +30% Y/Y $ Millions $1,562 $1,467 $1,378 $1,281 $1,202 $1,114 $1,042 $953 $879 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q4'23 Note: See Appendix for definition of Annual Recurring Revenue. There is no GAAP measure that is comparable to Annual Recurring Revenue, so the
Slide 8: ACV Billings
ACV Billings $ Millions +44% Y/Y $279 $268 $240 $232 $218 $205 $193 $176 $183 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q4'23 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 Q4’23 Highlights Cumulative Customer Count(1) 24,050 24,550 23,620 9% 22,600 23,130 21,400 21,980 20,130 20,700 (1) Total Customers Y/Y Growth 25.8(2) G2K Lifetime ACV Repeat Purchase Multiple 91 NPS 7-Year Average Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q4'23 1. The cumulati
Slide 10: Over $1M Customer Growth
Over $1M Customer Growth Q4’23 Highlights Cumulative End-Customers with 2,183 Lifetime Bookings (LTB) > $1M 2,013 2,085 1,498 +17% 1,918 Y/Y (1) 1,841 Customers 1,747 $1–$3M in LTB 1,662 1,580 1,512 326 +20% Customers Y/Y $3–$5M in LTB 217 +22% Customers $5–$10M in LTB Y/Y 142 +29% Customers >$10M i
Slide 11: Q1'24 Financial Guidance
Q1’24 Financial Guidance Q1’24 Guidance ACV Billings $260 – $270M Revenue $495 – $505M Non-GAAP Gross Margin ~84% Non-GAAP Operating Margin 9% to 11% Weighted Average Shares ~290M Outstanding (Diluted) Note: Q1’24 guidance is as of August 31, 2023. See Appendix for definition of ACV Billings. There
Slide 12: FY'24 Financial Guidance
FY’24 Financial Guidance Modeling Assumptions: FY’24 Guidance 1. The Company is seeing continued new and expansion opportunities for its solutions despite the uncertain macro environment. However, as mentioned previously, the Company ACV Billings $1.075 – $1.095B has seen a modest elongation of sale
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. Revenue was negatively impacted by a year-over-year decline in the average contract term, including as a result of Nutanix’s transition to a subscription-based business model. 2. G2K lifetime ACV repeat purchase multiple is defined as ACV of total lifetime purchase
Slide 16: GAAP to Non-GAAP Reconciliations
GAAP to Non-GAAP Reconciliations Q4’22 Q1’23 Q2’23 Q3’23 Q4’23 Gross Margin (GAAP) 79.3% 81.0% 82.2% 81.6% 83.7% Stock-Based Compensation Expense 2.4 1.7 2.1 1.9 1.7 Amortization of Intangible Assets 0.9 0.7 0.5 0.5 0.4 Gross Margin (Non-GAAP) 82.6% 83.4% 84.8% 84.0% 85.8% Operating Expenses (GAAP)
Slide 17: GAAP to Non-GAAP Reconciliations
GAAP to Non-GAAP Reconciliations Q4’22 Q1’23 Q2’23 Q3’23 Q4’23 Net Loss (GAAP) $(151.3) $(99.5) $(70.8) $(71.0) $(13.3) Stock-Based Compensation Expense 80.1 81.0 85.3 72.9 72.6 Amortization of Intangible Assets 4.1 3.1 2.7 2.6 2.2 Early Exit of Leased-Related Assets 0.6 0.9 0.8 – – Restructuring Ch
Slide 18: Thank You
NUTAND< Thank You