Posted on Wednesday, Nov 25th 2020
Earlier this week, enterprise cloud computing player Nutanix (Nasdaq: NTNX) reported its first quarter results that surpassed market expectations. Better than expected financial performance for the quarter sent the stock soaring 10% in the after-hours session. Nutanix continues to invest in its cloud-focused strategy, assuring investors of continuing growth.
For the first quarter, revenues dropped 0.6% to $312.8 million, ahead of the market’s forecast of $298.4 million. ACV billings grew 10% over the year to $137.8 million. Net loss was $265.05 million, compared with a loss of $229.3 million reported a year ago.
By segment, Nutanix’s Product revenues fell 19.02% to $155.8 million while revenues from support, entitlements, and other services grew 30% to $157 million.
For the second quarter, Nutanix forecast ACV billings of $145-$148 million compared with the market’s estimates of $134.4 million.
Nutanix’s Cloud Expansion
During the quarter, Nutanix announced the general availability of its Hybrid Cloud Infrastructure (HCI) on AWS. With the availability of its products on AWS, Nutanix is now able to extend the simplicity and ease-of-use of its software to the public cloud. This move is part of its plan to making computing seamless across multiple clouds – public or private.
As part of the same focus, it announced a partnership with Microsoft, bringing its product portfolio to Azure. Nutanix plans to leverage these cloud partnerships to become an infrastructure software company with a bring-your-own-license approach that will help its customers with their hybrid computing journey.
As part of its cloud focus, Nutanix recently announced
Elevate, a new global partner program that will simplify engagement for Nutanix’s entire partner ecosystem using a consistent set of tools, resources, and marketing platforms to take advantage of cloud business models. Under a single integrated architecture, Elevate will allow Value Added Resellers, Value Added Distributors, Service Providers, and other cloud partners to grow their business with hybrid and multi-cloud solutions. Nutanix’s Kubernetes PaaS
Besides focusing on the cloud, Nutanix is also expanding its product portfolio. It continued to innovate its core platform and product by adding new capabilities and recently announced the launch of its kubernetes-based PaaS solution known as Karbon Platform Services (KPS). KPS will help democratize containers beyond DevOps for IT operators.
KPS has been built for the multi-cloud environment and offers developers simple, open abstractions of services to accelerate the development and deployment of applications, ranging from basic, containerized applications to complex web-scale applications. It features a global SaaS control plane for multi-cloud management while offering system-wide security. Developers will be able to securely connect to their existing data lakes in any cloud using the built-in data interfaces with multiple cloud services including AWS S3, Azure Blob Storage, and GCP CloudStorage.
Its stock is currently trading at $28.21 with a market capitalization of $5.8 billion. It was trading at a 52-week high of $37.86 in February this year. It fell to a 52-week low of $11.31 in March this year amid the turmoil.
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Splunk on the Right Track with Cloud and PaaS . Veeva Sets an Example, Transitions to a Public Benefit Corporation . BlackLine is Targeting A/R Automation Market . Okta Targets $25B Customer Identity Market with Acquisition . Teradata Trying to Reinvent Itself on the Cloud . Dropbox Acquires, But Competition Remains Stiff . Smartsheet Focuses on Partners, and not on ISVs . MongoDB has Huge Room to Grow in $97B Market . Cloud and Platform Expansion Continues at Nutanix . Rapid7 Targets $1B ARR by 2025 . DocuSign Exploring Unprecedented Digital Signature Offerings . Tenable Continues its Acquisition Spree . SolarWinds Attack Driving Zscaler's Stellar Performance . Zoom Should Report Developer Ecosystem Metrics . DigitalOcean Goes Public with a Strong ISV PaaS Strategy . Dynatrace Competing with Rivals by Simplifying DevOps . Talend Becomes a Private Firm, Once Again . Everbridge Focuses on the Government Sector . Analysis of Fastly’s Signal Sciences Acquisition . 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DocuSign Sees Digital Signature Trends Here to Stay . Market Leader Tenable Leverages Acquisitions for Growth . Analysis of Zscaler's Recent Two Acquisitions . Analysis of Rapid7's Velocidex Acquisition . Dropbox Expands in International eSignature Market . MongoDB Rides High on Five Years of Atlas . RingCentral Leverages Partnerships for Growth . BlackLine Remains Focused on SAP . ON24 Expands Marketing Offerings . Analysis of Magnite's Spot X Acquisition . PagerDuty Focuses on Integrations . Analysis of Bill.com's Divvy Acquisition . C3.ai Doubles Down on Partnerships . Analysis of Coupa's Pana Acquisition . BigCommerce Eyes a Bigger Marketshare Through Walmart Tie-up . Analysis of Everbridge's xMatters Acquisition . Adobe's Digital Solutions Drive Stellar Growth . CrowdStrike Leads in Endpoint Security Through Tie-ups . Snowflake Focuses on Expanded Partner Program to Drive Growth . Analysis of Sumo Logic's Sensu Acquisition . 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RingCentral Cashing in on the Hybrid Work Environment . Splunk Tackles Decelerating Growth with Product Upgrades . MongoDB's Atlas Capabilities Expand to the Government Sector . Analysis of Bill.com's Invoice2Go Acquisition . DocuSign Banks on Agreement Cloud . Smartsheet's Expanding Use Cases . Analysis of Salesforce's Servicetrace Acquisition . Zscaler Focuses on Federal Agencies . Coupa Launches PaaS Strategy . Analysis of BlackLine’s Kyriba Partnership . PagerDuty's Expanding Integration Portfolio . Analysis of Tenable's Accurics Acquisition . Upstart’s Improving AI Algorithm in FinTech Consumer Lending . Analysis of C3.ai's Growing Partnerships . Analysis of Veeva's Learnaboutgmp Acquisition . Analysis of Adobe's Frame.io Acquisition . Snowflake Focuses on the Financial Services Sector . CrowdStrike Expands Government Offerings . Zoom Focuses on Expanding Reseller Offerings . Dropbox Focuses on Content Creators with New Product . Analysis of Okta's atSpoke Acquisition . Sumo Logic Leverages Red Hat Marketplace . Analysis of Dynatrace's SpectX Acquisition . Tuya Prepares to Address the Chip Shortage . Analysis of Appian's Lana Labs Acquisition . Analysis of Qualtrics's $1.125B Clarabridge Acquisition . Fastly Addresses Latency Issues for Developers . Alarm.com Leverages AI for Growth . Analysis of IBM's Rego Acquisition . Analysis of Unity's Parsec Acquisition . UiPath Envisions Advanced ML Capabilities . Microsoft Teams Lags Far Behind Zoom . Analysis of ServiceNow's Gekkobrain Acquisition . Google Attempts to Gain Ground in Cloud and AI . Atlassian Expands Beyond IT Offerings . Amazon Addresses Margin Pressures Through Product Upgrades . Twilio Leverages Segment Platform for Product Expansion . Shopify Expands PaaS Integrations . Analysis of Zendesk's $4.1B Momentive Acquisition . HubSpot Becomes a Stickier Platform . Analysis of Alteryx's Acquisitions . Wix Focuses on Fitness Services Providers . Pure Storage Partners with Microsoft Azure to Address Chip Shortage Concerns . Analysis of Salesforce's LevelJump Acquisition . Qualys Expands Solutions to Address Ransomware . Veeva Eyes Data Cloud . Splunk Expands Partner Capabilities . Coupa Continues to Build on its PaaS . MongoDB Focuses on Winning Government Contracts . DocuSign Targets $50B Market Opportunity in Agreement Cloud . Smartsheet Focuses on PaaS Growth . C3.ai Expands Enterprise and Public Sector Presence