Nutanix Files Q3 2024 10-Q

TL;DR

Nutanix 10-Q filed for Q3 2024, check financials.

AI Summary

Nutanix, Inc. filed its 10-Q for the period ending April 30, 2024, reporting on its financial performance. The filing details various financial statement line items, including property, plant, and equipment, accrued liabilities, and other noncurrent liabilities. It also references specific accounting standards and disclosures related to fair value measurements and equity instruments.

Why It Matters

This filing provides investors with a detailed look at Nutanix's financial health and operational status for the third quarter of fiscal year 2024.

Risk Assessment

Risk Level: low — This is a routine quarterly financial filing with no immediate red flags.

Key Numbers

• 20240430 — Reporting Period End Date (Indicates the end of the fiscal quarter covered by the report.)
• 0731 — Fiscal Year End (Specifies the end date of Nutanix's fiscal year.)

Key Players & Entities

• Nutanix, Inc. (company) — Filer of the 10-Q
• 20240430 (date) — End of the reporting period
• 0000950170-24-071318 (document_id) — Accession number for the filing

FAQ

Key Financial Figures

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

Filing Documents

• ntnx-20240430.htm (10-Q) — 3431KB
• ntnx-ex10_1.htm (EX-10.1) — 31KB
• 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
• 0000950170-24-071318.txt ( ) — 13023KB
• ntnx-20240430.xsd (EX-101.SCH) — 1619KB
• ntnx-20240430_htm.xml (XML) — 2617KB

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 52 Item 4

Controls and Procedures

Controls and Procedures 52 PART II. OTHER INFORMATION Item 1

Legal Proceedings

Legal Proceedings 55 Item 1A

Risk Factors

Risk Factors 55 Item 2 Unregistered Sales of Equity Securities and Use of Proceeds 56 Item 3 Defaults Upon Senior Securities 56 Item 4 Mine Safety Disclosures 56 Item 5 Other Information 56 Item 6 Exhibits 56 EXHIBIT INDEX 57

SIGNATURES

SIGNATURES 58 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 investment in our growth over the long-run, including the development of our solutions and investing in sales and marketing; improving our operating cash flow performance, including by focusing on go-to-market efficiencies and taking steps to manage our expense; our intent and measures to reduce our overall sales and marketing spend as a percentage of revenue; sustaining profitable growth; fluctuations in our overall spending, including sales and marketing, research and development, and general and administrative expenses; expected sales productivity; the recent evolution of our sales pipeline and its expected effect on our new and expansion business; fluctuations in hardware revenue and cost of product revenue; fluctuations in our operating and free cash flow during the next 12 months; su

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 April 30, 2024 7 Condensed Consolidated Statements of Operations for the Three and Nine Months Ended April 30 , 2023 and 2024 8 Condensed Consolidated Statements of Comprehensive Income (Loss) for the Three and Nine Months Ended April 30, 2023 and 2024 9 Condensed Consolidated Statements of Stockholders' Deficit for the Three and Nine Months Ended April 30, 2023 and 2024 10 Condensed Consolidated Statements of Cash Flows for the Nine Months Ended April 30, 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 Income (Loss) Per Share 32 Note 13: Segment Information 33 Note 14: Subsequent Event 33 6 Table of Contents NUTANIX, INC. CONDENSED CONSOLIDA TED BALANCE SHEETS (Unaudited) As of July 31, 2023 April 30, 2024 (in thousands, except per share data) Assets Current assets: Cash and cash equivalents $ 512,929 $ 598,027 Short-term investments 924,466 1,053,354 Accounts receivable, net of allowances of $ 733 and $ 1,619 , respectively 157,251 225,301 Deferred commissions—current 120,001 148,435 Prepaid expenses and other current assets 147,087 114,123 Total current assets 1,861,734 2,139,240 Property and equipment, net 111,865 114,785 Operating lease right-of-use assets 93,554 96,895 Deferred commissions—non-current 237,990 204,357 Intangible assets, net 4,893 6,019 Goodwi

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View this 10-Q filing on SEC EDGAR