Q4 2024 Nutanix Inc Earnings Call Transcript
Key Points
- Nutanix Inc (NTNX) exceeded all guided metrics for Q4 2024, with revenue of $548 million, up 11% year over year.
- The company saw strong free cash flow generation, with $224 million in Q4 and $598 million for the full fiscal year, almost three times higher than the previous year.
- Nutanix Inc (NTNX) achieved significant new or enhanced partnerships with Cisco, Dell, and NVIDIA, expanding their addressable market.
- The company launched innovative products like GPT-in-a-Box and Nutanix Data Services for Kubernetes, enhancing their cloud platform.
- Nutanix Inc (NTNX) reported a Rule of 40 score of 43 for fiscal year 2024, indicating strong growth and profitability.
- The land and expand business underperformed relative to internal expectations due to longer-than-expected sales cycles.
- Average sales cycles have modestly elongated compared to historical levels, impacting deal closures.
- The company faces challenges in migrating customers from three-tier infrastructure to HCI, often requiring hardware refreshes.
- There is variability and unpredictability in the timing and outcome of larger deals, which can affect revenue recognition.
- Nutanix Inc (NTNX) expects a $20 million to $25 million headwind in operating expenses for fiscal year 2025 due to payments related to a partnership agreement.
Thank you for standing by and welcome to Nutanix fourth-quarter 2024 earnings conference call. (Operator Instructions) As a reminder, today's program is being recorded. And now I'd like to introduce your host for today's program, Rich Valera, Vice President of Investor Relations.
Good afternoon, and welcome to today's conference call to discuss Nutanix's fourth-quarter and fiscal year 2024 financial results. Joining me today are Rajiv Ramaswami, Nutanix's President and CEO; and Rukmini Sivaraman, Nutanix's CFO. After the market closed today, Nutanix issued a press release announcing fourth quarter and fiscal year 2024 financial results. If you'd like to read the release, please visit the press releases section of our IR website.
During today's call, management will make forward-looking statements, including financial guidance. These forward-looking statements involve risks and uncertainties, some of which are beyond our control, which could cause actual results to differ materially and adversely from those anticipated
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