Nutanix (NTNX) Tops Q1 EPS by 9c, Beats on Revenues; Offers 2Q EPS Guidance Above Consensus, Q2 Revenue Mid-Point Outlook Below Consensus

Nutanix (NASDAQ: NTNX) reported Q1 EPS of ($0.17), $0.09 better than the analyst estimate of ($0.26). Revenue for the quarter came in at $275.6 million versus the consensus estimate of $266.9 million.

Q2 Fiscal 2018 Financial Outlook

For the second quarter of fiscal 2018, Nutanix expects:

• Revenues between $280 and $285 million; assuming the elimination of approximately $12 million in pass-through hardware sales;
• Non-GAAP gross margin between 62.5% and 63.5%;
• Non-GAAP operating expenses of approximately $210 million;
• Non-GAAP net loss per share between $0.20 and $0.22, using 161 million weighted shares outstanding.

GUIDANCE:

Nutanix sees Q2 2018 EPS of ($0.22)-($0.20), versus the consensus of ($0.25). Nutanix sees Q2 2018 revenue of $280-285 million, versus the consensus of $282 million.

First Quarter Fiscal Year 2018 Financial Highlights

• Revenue: $275.6 million, growing 46% year-over-year from $188.6 million in the first quarter of fiscal 2017
• Billings: $315.3 million, growing 32% year-over-year from $239.8 million in the first quarter of fiscal 2017
• Net Loss: GAAP net loss of $61.5 million, compared to a GAAP net loss of $140.3 million in the first quarter of fiscal 2017; non-GAAP net loss of $24.7 million, compared to a non-GAAP net loss of $26.0 million in the first quarter of fiscal 2017
• Net Loss Per Share: GAAP net loss per share of $0.39, compared to a GAAP net loss per share of $1.89 and a pro forma GAAP net loss per share of $1.09 in the first quarter of fiscal 2017; non-GAAP net loss per share of $0.16, compared to a pro forma non-GAAP net loss per share of $0.20 in the first quarter of fiscal 2017
• Cash and Short-term Investments: $365.9 million, up 5% from the first quarter of fiscal 2017
• Deferred Revenue: $408.8 million, up 48% from the first quarter of fiscal 2017
• Operating Cash Flow: $10.1 million, compared to $4.2 million in the first quarter of fiscal 2017
• Free Cash Flow: $(7.9) million, compared to $(7.8) million in the first quarter of fiscal 2017

For earnings history and earnings-related data on Nutanix (NTNX) click here.

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