Summary by Futu AI
Nutanix announced robust financial results for fiscal year 2024, with total revenue reaching $2.15 billion, a 15.3% increase year-over-year. The company's subscription revenue grew 16.5% to $2.02 billion, while annual recurring revenue (ARR) surged 22.2% to $1.91 billion. Gross margin improved to 84.9%, up from 82.2% in the previous year.Operating income turned positive at $7.6 million, compared to a loss of $207.2 million in FY2023. However, net loss remained at $124.8 million, primarily due to a $107.9 million interest expense related to the conversion of convertible notes. Cash flow from operations significantly improved to $672.9 million, up from $272.4 million in the prior year.Nutanix continued to expand its customer base, reaching over 26,000 end customers by fiscal year-end. The company maintained a strong financial position with $994.8 million in cash, cash equivalents, and short-term investments. Looking ahead, Nutanix plans to focus on profitable growth, investing in research and development while improving operational efficiencies, particularly in sales and marketing.
