Hyper-converged infrastructure pioneer Nutanix this afternoon reported fiscal Q4 revenue and profit that both topped Wall Street’s expectations, and an outlook that for billings for the current quarter that was higher as well.
Nutanix shares rose 2% in late trading.
CEO Rajiv Ramaswami called the quarter “a strong end to an excellent fiscal year, which was marked by consistent execution and solid progress across both financial and strategic objectives.”
Added Ramaswami, “We have entered our fiscal 2022 with good momentum and a solid plan for growth, executing on the model we laid out at Investor Day and delivering on our vision of making clouds invisible.”
CFO Duston Williams remarked that “We achieved records across a number of key metrics in the fourth quarter, including ACV billings and revenue, which grew 26 and 19 percent year over year, respectively,” adding, “In fiscal 2022, we expect our growing base of low-cost renewals will drive further improvements in top and bottom line performance.”
Revenue in the three months ended in July rose 19%, year over year, to $390.7 million, yielding a net loss of 26 cents a share, excluding some costs.
Analysts had been modeling $363 million and a 42-cent loss per share.
Nutanix’s annualized recurring revenue rose by 83% to $878.7 million.
Nutanix’s billings for its annual contract value, or “ACV,” rose by 26% to $176.3 million, it said. That was higher than Wall Street’s average estimate for $171.9 million.
For the current quarter, the company expects its annual contract value billings to be in a range of of $172 million to $177 million. That compares to consensus for $169.3 million.