Nutanix Reports Third Quarter Fiscal 2021 Financial Results
Nutanix (NTNX) announced strong financial results for Q3 FY2021, highlighting Annual Contract Value (ACV) billings of $159.9 million, an 18% increase year-over-year.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Nutanix, Inc. (NASDAQ: NTNX), a leader in private, hybrid and multicloud computing, today announced financial results for its third quarter ended April 30, 2021.
“I am delighted with our strong quarterly results. For the third quarter in a row, we delivered outperformance across all guided metrics and demonstrated our ability to execute consistently,” said Rajiv Ramaswami, President and CEO of Nutanix. “We are also pleased with our progress on key priorities, including bolstering our ecosystem with our extended partnership with Lenovo, continued momentum with our core cloud software platform and an increased attach rate of our emerging products.”
“We saw record ACV billings, with growth accelerating to 18 percent year-over-year, while our disciplined spending delivered operating expenses below our guidance,” said Duston Williams, CFO of Nutanix. “Our growing renewals pipeline will help to drive future top line growth, offer substantial sales and marketing efficiencies, and increase the predictability in our business.”
Third Quarter Fiscal 2021 Financial Summary
|
Q3 FY’21 |
Q3 FY’20 |
Y/Y Change |
Annual Contract Value (ACV)1 Billings |
|
|
|
Run-rate Annual Contract Value (ACV)2 |
|
|
|
Average Contract Term3 |
3.3 years |
3.8 years |
(0.5) year |