Nutanix reported revenue of $327.9 million for its fourth quarter of fiscal 2020, up 9% year-over-year from $299.9 million in the fourth quarter of fiscal 2019. GAAP gross margin was 79.6%, up from 77.0% in the fourth quarter of fiscal 2019. There was a GAAP net loss of $185.3 million, compared to a GAAP net loss of $194.3 million in the fourth quarter of fiscal 2019; Non-GAAP net loss was $79.0 million, compared to a non-GAAP net loss of $105.8 million in the fourth quarter of fiscal 2019.
- Expanded Customer Base: Nutanix ended the fourth quarter of fiscal 2020 with 17,360 end-customers.
- During the quarter, the company launched Nutanix Hybrid Cloud Infrastructure on Amazon Web Services:
- Reached 88 Percent of Billings from Subscription: Nutanix continued its transition to a subscription-based business model, with subscription billings up 29% year-over-year to $341 million, representing 88% of total billings, and subscription revenue up 46% year-over-year to $285 million, representing 87% of total revenue.
“I am thrilled to report strong results to close the year, a performance all the more impressive given the uncertainty of the global market environment we are facing today,” said Dheeraj Pandey, Chairman, Co-Founder and CEO of Nutanix. “We have demonstrated growth in the midst of a pandemic and have now generated $1.6 billion in annual billings. In addition, the $750 million investment from Bain Capital Private Equity validates the market opportunity in front of us and positions us well with enhanced financial flexibility and resources to further scale, gain share and remain at the forefront of innovation in our industry. The strategic value of IT is clear as customers increasingly value our software and solutions in a rapidly changing work environment. Our biggest product news of the quarter was launching our solution on bare metal with AWS, creating a new type of HCI: hybrid cloud infrastructure.”
Nutanix also announced that Bain Capital Private Equity will make an investment of $750 million in convertible notes. Nutanix plans to use the investment to support the company’s growth initiatives.
