Nutanix (NTNX) Files for $200M IPO

Nutanix, Inc. (Nasdaq: NTNX) filed a registration with the U.S. SEC for an IPO of its common stock. The proposed maximum offering price is $200 million. The company plans to list on the Nasdaq under the symbol, NTNX.

Underwriters are Goldman, Sachs & Co., Morgan Stanley, J.P. Morgan, Credit Suisse, Baird, Needham & Company, Oppenheimer & Co., Pacific Crest Securities, Piper Jaffray, Raymond James, Stifel, and William Blair.

Financial commentary: We have experienced significant growth in recent periods, with total revenue of $30.5 million, $127.1 million and $241.4 million for fiscal 2013, fiscal 2014 and fiscal 2015, respectively, representing year-over-year growth of 316% and 90%, respectively. For the three months ended October 31, 2014 and 2015, our total revenue was $46.1 million and $87.8 million, respectively, representing year-over-year growth of 91%. We have continued to make significant investments as we scale our business, including in developing and improving our platform, expanding our sales and marketing capabilities and global coverage, and in expanding our general and administrative resources to support our growth. As a result, we had net losses of $44.7 million, $84.0 million and $126.1 million for fiscal 2013, fiscal 2014 and fiscal 2015, respectively, and $28.5 million and $38.5 million for the three months ended October 31, 2014 and 2015, respectively. Net cash used in operating activities was $29.1 million, $45.7 million and $25.7 million for fiscal 2013, fiscal 2014 and fiscal 2015, respectively, and $6.9 million and $5.6 million for the three months ended October 31, 2014 and 2015, respectively. As of October 31, 2015, we had an accumulated deficit of $312.0 million.

Nutanix provides a leading next-generation enterprise cloud platform that converges traditional silos of server, virtualization and storage into one integrated solution and can also connect to public cloud services.

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