Nutanix (NTNX) Tops Q2 EPS by 2c; Guides Below

Nutanix (NASDAQ: NTNX) reported Q2 EPS of ($0.23), $0.02 better than the analyst estimate of ($0.25). Revenue for the quarter came in at $335.4 million versus the consensus estimate of $331.3 million.

“Our product portfolio is coming together really well as we double down on simplicity and reliability. On a trailing four quarter basis, Q2 saw a record 40 percent adoption of AHV, and 21 percent of deals included Essentials and Enterprise product offerings beyond the Core,” said Dheeraj Pandey, Chairman, Founder and CEO of Nutanix. “We also saw growing momentum toward a recurring revenue model, delivering 57 percent of billings from subscriptions this quarter. And we are also pleased to announce the promotion of Chris Kaddaras to lead our sales organization in the Americas region in addition to his existing EMEA responsibilities.”

“We were pleased with our large deal activity and our progress in moving toward a subscription model,” said Duston Williams, CFO of Nutanix. “Looking ahead, our third quarter guidance reflects the impact of inadequate marketing spending for pipeline generation and slower than expected sales hiring. We took a critical look at these areas and have taken actions to address them.”

GUIDANCE:

Nutanix sees Q3 2019 EPS of ($0.60), versus the consensus of ($0.28). Nutanix sees Q3 2019 revenue of $290-300 million, versus the consensus of $349.2 million.

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

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