Nutanix reached a negative landmark, with losses exceeding revenues in its latest quarter, but financial analysts are happy with its progress.
Revenues were $378.52 million in its first fiscal 2022 quarter, which ended October 31, up 21 per cent annually, for a loss of $419.8 million. For every dollar it earned Nutanix spent $1.11 — it bought its growth. The year-ago quarter’s loss was $265 million. In the previous quarter it dropped 92 cents in costs for every dollar of revenue. Things have got worse.
President and CEO Rajiv Ramaswami’s results statement read: “Our first quarter was a good start to our fiscal year, demonstrating strong year-over-year top and bottom line improvement.” The “bottom line” term certainly did not refer to GAAP net income.
CFO Duston Williams said: “We achieved record ACV billings, which grew 33 per cent year-over-year, and saw 21 per cent year-over-year revenue growth, our highest growth in over three…