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Publication Date: 2025-09-05 07:00:00
Nutanix (NTNX) delivered a solid finish to fiscal 2025, exceeding all guidance metrics while demonstrating an ability to capture market share from VMware amid industry disruption.
The cloud infrastructure platform provider posted strong revenue growth, improved profitability, and robust free cash flow generation. However, shares are trading down 11% as investors digest mixed signals about future growth acceleration.
Nutanix reported fiscal Q4 revenue of $653 million, up 19% year-over-year and above the guided range of $635-$645 million.
For the full fiscal year, Nutanix achieved revenue of $2.54 billion, representing 18% growth, while annual recurring revenue (ARR) reached $2.22 billion with 17% year-over-year growth.
“We are pleased with our performance in fiscal year ’25, exceeding the high end of the guidance across all guided metrics” — Rukmini Sivaraman, CFO.
Here are three key factors that could drive Nutanix’s performance amid the VMware migration opportunity.
1. VMware Displacement Momentum Building Early
Nutanix is capitalizing on widespread customer uncertainty following Broadcom’s acquisition of VMware. The company added over 2,700 new customers in fiscal 2025, its highest count in four years, including more than 50 Global 2000…
