Nutanix, Inc. Files 10-Q for Period Ending January 31, 2024

TL;DR

<b>Nutanix, Inc. has filed its Q2 fiscal year 2024 10-Q report, detailing financial performance and position.</b>

AI Summary

Nutanix, Inc. (NTNX) filed a Quarterly Report (10-Q) with the SEC on March 7, 2024. Nutanix, Inc. filed its quarterly report (10-Q) on March 7, 2024, for the period ending January 31, 2024. The filing covers the second quarter of Nutanix's fiscal year. Key financial statement items referenced include Property, Plant, and Equipment Net, Accrued Liabilities Current, and Other Liabilities Noncurrent. The report details various financial instruments and accounts, including Convertible Debt, Common Class A stock, and Retained Earnings. Specific expense categories mentioned are Research and Development Expense, General and Administrative Expense, and Cost of Sales.

Why It Matters

For investors and stakeholders tracking Nutanix, Inc., this filing contains several important signals. This 10-Q filing provides investors with an updated view of Nutanix's financial health and operational performance for the second quarter of fiscal year 2024. The detailed financial information allows stakeholders to assess the company's progress, identify trends, and make informed investment decisions.

Risk Assessment

Risk Level: — Nutanix, Inc. shows moderate risk based on this filing. The filing is a standard 10-Q, which is a routine disclosure for public companies. While it contains detailed financial information, it does not inherently signal significant positive or negative events beyond normal business operations.

Analyst Insight

Review the detailed financial statements and management's discussion and analysis within the 10-Q to understand Nutanix's performance and outlook for the remainder of fiscal year 2024.

Key Numbers

• 2024-01-31 — Period End Date (Conformed Period of Report)
• 2024-03-07 — Filing Date (Filed as of date)

Key Players & Entities

• Nutanix, Inc. (company) — Filer name
• 0000950170-24-027936 (other) — Accession Number
• 20240131 (date) — Conformed Period of Report
• 20240307 (date) — Filed as of date
• San Jose, CA (location) — Business Address
• Rukmini Sivaraman (person) — Mentioned in context of financial data

FAQ

Industry Context

Nutanix operates in the software and cloud computing industry, providing hybrid cloud infrastructure solutions.

Regulatory Implications

The filing is made in accordance with the Securities Exchange Act of 1934, requiring public companies to submit regular financial disclosures.

What Investors Should Do

1. Analyze the detailed financial statements (balance sheets, income statements, cash flow statements) for the quarter ended January 31, 2024.
2. Review the Management's Discussion and Analysis of Financial Condition and Results of Operations section for insights into performance drivers and trends.
3. Examine any disclosed risk factors or legal proceedings that may impact the company's future operations.

Year-Over-Year Comparison

This is the 10-Q filing for the second quarter of fiscal year 2024, providing an update from previous filings.

Key Financial Figures

• $0.000025 — hich registered Class A Common Stock, $0.000025 par value per share NTNX Nasdaq Glo

Filing Documents

• ntnx-20240131.htm (10-Q) — 3323KB
• ntnx-ex3_1.htm (EX-3.1) — 66KB
• ntnx-ex10_3.htm (EX-10.3) — 120KB
• ntnx-ex31_1.htm (EX-31.1) — 15KB
• ntnx-ex31_2.htm (EX-31.2) — 15KB
• ntnx-ex32_1.htm (EX-32.1) — 8KB
• ntnx-ex32_2.htm (EX-32.2) — 7KB
• 0000950170-24-027936.txt (&nbsp;) — 13058KB
• ntnx-20240131.xsd (EX-101.SCH) — 1601KB
• ntnx-20240131_htm.xml (XML) — 2584KB

Financial Statements (Unaudited)

Financial Statements (Unaudited) 6 Item 2

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 34 Item 3

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 51 Item 4

Controls and Procedures

Controls and Procedures 51 PART II. OTHER INFORMATION Item 1

Legal Proceedings

Legal Proceedings 54 Item 1A

Risk Factors

Risk Factors 54 Item 2 Unregistered Sales of Equity Securities and Use of Proceeds 54 Item 3 Defaults Upon Senior Securities 54 Item 4 Mine Safety Disclosures 54 Item 5 Other Information 55 Item 6 Exhibits 55 EXHIBIT INDEX 56

SIGNATURES

SIGNATURES 57 3 Table of Contents SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS This Quarterly Report on Form 10-Q contains express and implied forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), which statements involve substantial risks and uncertainties. Other than statements of historical fact, all statements contained in this Quarterly Report on Form 10-Q, including statements regarding our future results of operations and financial position, our business strategy and plans and our objectives for future operations, are forward-looking statements. The words "believe," "may," "will," "potentially," "estimate," "continue," "anticipate," "plan," "intend," "could," "would," "expect," or words or expressions of similar substance or the negative thereof, that convey uncertainty of future events or outcomes are intended to identify forward-looking statements. Forward-looking statements included in this Quarterly Report on Form 10-Q include, but are not limited to, statements regarding: our future billings, revenue, cost of revenue and operating expenses, as well as changes in the cost of product revenue, component costs, contract durations, product gross margins and support, entitlements and other services revenue and changes in research and development, sales and marketing and general and administrative expenses; our business plans, strategies, initiatives, objectives and outlook, as well as our ability to execute such plans, strategies, initiatives and objectives successfully and in a timely manner, and the benefits and impact of such plans, initiatives and objectives on our business, operations, and financial results, including any impact on our revenue and product mix, average contract duration lengths and discounting behavior; our plans for, and the timing of, any current and future

FINANCI AL INFORMATION

PART I. FINANCI AL INFORMATION

Financial St atements (Unaudited)

Item 1. Financial St atements (Unaudited) Page Condensed Consolidated Balance Sheets as of July 31, 2023 and January 31, 2024 7 Condensed Consolidated Statements of Operations for the Three and Six Months Ended January 31 , 2023 and 2024 8 Condensed Consolidated Statements of Comprehensive Income (Loss) for the Three and Six Months Ended January 31, 2023 and 2024 9 Condensed Consolidated Statements of Stockholders' Deficit for the Three and Six Months Ended January 31, 2023 and 2024 10 Condensed Consolidated Statements of Cash Flows for the Six Months Ended January 31, 2023 and 2024 12 Notes to Condensed Consolidated Financial Statements 13 Note 1: Overview and Basis of Presentation 13 Note 2: Revenue, Deferred Revenue and Deferred Commissions 15 Note 3: Fair Value Measurements 17 Note 4: Balance Sheet Components 19 Note 5: Convertible Senior Notes 22 Note 6: Leases 26 Note 7: Commitments and Contingencies 28 Note 8: Stockholders' Equity 28 Note 9: Equity Incentive Plans 29 Note 10: Income Taxes 31 Note 11: Restructuring Charges 32 Note 12: Net Loss Per Share 32 Note 13: Segment Information 33 6 Table of Contents NUTANIX, INC. CONDENSED CONSOLIDA TED BALANCE SHEETS (Unaudited) As of July 31, 2023 January 31, 2024 (in thousands, except per share data) Assets Current assets: Cash and cash equivalents $ 512,929 $ 679,246 Short-term investments 924,466 964,714 Accounts receivable, net of allowances of $ 733 and $ 1,080 , respectively 157,251 189,046 Deferred commissions—current 120,001 138,606 Prepaid expenses and other current assets 147,087 108,825 Total current assets 1,861,734 2,080,437 Property and equipment, net 111,865 115,224 Operating lease right-of-use assets 93,554 97,307 Deferred commissions—non-current 237,990 214,555 Intangible assets, net 4,893 6,884 Goodwill 184,938 185,235 Other asset

View Full Filing

View this 10-Q filing on SEC EDGAR