Nutanix reported revenue of $385.5 million for its fourth quarter ended July 31, 2022, down 1% from a year earlier. Full year revenue amounted to $1.58 billion, up 13% from the preceding year.
Annual Contract Value (ACV) billings for Q4 was $193.2 million, up 10% compared to a year earlier.
“Our fourth quarter capped off a fiscal year that showed strong year-over-year top and bottom line improvement,” said Rajiv Ramaswami, President and CEO of Nutanix. “Fiscal 2022 was an important data point in demonstrating the long-term benefits of our subscription business model transition. We expect these benefits to compound further in the coming years as renewals become a bigger share of our business.”
“Our Fiscal 2022 results reflect strong progress on our subscription model with 27% year-over-year ACV billings growth and achievement of positive free cash flow, which we expect to be sustainable on an annual basis,” said Rukmini Sivaraman, CFO of Nutanix. “We continue to see good execution on our building base of subscription renewals and remain focused on driving towards profitable growth.”
