Nutanix reported revenue of $299.9 million for its fourth quarter and fiscal year ended July 31, 2019, down from $303.7 million in the fourth quarter of fiscal 2018, reflecting the reduction of pass-thru hardware from $35.9 million in the fourth quarter of fiscal 2018 to $13.0 million in the fourth quarter of fiscal 2019, and the revenue compression from the company’s ongoing transition to subscription. Billings amounted to $371.7 million, down from $395.1 million in the fourth quarter of fiscal 2018.
GAAP net loss was $194.3 million, compared to a GAAP net loss of $87.4 million in the fourth quarter of fiscal 2018. Non-GAAP net loss was $105.8 million, compared to a non-GAAP net loss of $19.0 million in the fourth quarter of fiscal 2018.
Software and support revenue amounted to $286.9 million, up 7% year-over-year from $267.9 million in the fourth quarter of fiscal 2018, reflecting the revenue compression from the company’s ongoing transition to subscription.
“We delivered a solid fourth quarter and believe our performance reflects our execution improvements and the meaningful progress we have made transitioning our business to a subscription model,” said Dheeraj Pandey, Chairman, Founder and CEO of Nutanix. “We are encouraged by our record gross margins, strengthening pipeline, progress in sales hiring, and recent large customer wins. We have a strong set of tenured sales leaders in place and continue to lead the industry as an innovator with technology at the forefront of hybrid cloud transformation.”
“We are pleased by our Q4 results, and that the actions we have taken to strengthen lead generation and enhance sales execution are generating positive results. Our subscription transition continues to be ahead of schedule with subscriptions growing from 52% of total billings in the fourth quarter of fiscal 2018 to 71% in the fourth quarter of fiscal 2019,” said Duston Williams, CFO of Nutanix. “In addition, 26%1 of our deals included a product outside our core offering, as new and existing customers increasingly look to Nutanix to guide them on their journey to hybrid cloud.”
