Stock Monitor: iCAD Inc. Post Earnings Reporting
LONDON, UK / ACCESSWIRE / April 12, 2018 / Active-Investors.com has just released a free earnings report on Nutanix, Inc. (NASDAQ: NTNX). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/'symbol=NTNX. The Company reported its second quarter fiscal 2018 operating and financial results on March 01, 2018. The enterprise cloud platform services provider reported better than expected revenues and earnings results, and added record customers during the quarter. Additionally, the Company provided guidance for the upcoming quarter. Register today and get access to over 1000 Free Research Reports by joining our site below:
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Active-Investors.com is currently working on the research report for iCAD, Inc. (NASDAQ: ICAD), which also belongs to the Technology sector as the Company Nutanix. Do not miss out and become a member today for free to access this upcoming report at:
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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Nutanix most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
www.active-investors.com/registration-sg/'symbol=NTNX
Earnings Highlights and Summary
For the second quarter of the fiscal year 2018, ended January 31, 2018, Nutanix's revenues surged 44% to $286.7 million compared to $199.2 million in Q2 FY17, reflecting the elimination of approximately $14 million in hardware revenues in the reported quarter, as the Company executed its shift towards increasing software revenues. The Company's revenue numbers beat analysts' estimates of $283 million.
During Q2 FY18, Nutanix's billings totaled $355.9 million, growing 57% from $227.4 million in Q2 FY17.
For Q2 FY18, Nutanix reported a GAAP gross profit of $178.2 million, up 46% compared to $122.4 million in Q2 FY17. The Company's non-GAAP gross profit surged 45% to $182.2 million in the reported quarter from $126.0 million in the prior year's same quarter.
Nutanix's GAAP net loss was $62.6 million, or $0.39 loss per share, in Q2 FY18 compared to a GAAP net loss of $76.4 million, or $0.54 loss per share, in Q2 FY17. For Q2 FY18, Nutanix's non-GAAP net loss was $23.2 million, or $0.14 loss per share, compared to a non-GAAP net loss of $23.0 million, or $0.16 loss per share, in Q2 FY17. The Company's reported results were better than Wall Street's estimates for a loss of $0.21 per share.
Operating Results
Nutanix ended Q2 FY18 with 8,870 end-customers, adding a record 1,057 new end-customers during the reported quarter. The Company's Q2 FY18 customer wins included Arca Continental, DB Systel, JetBlue Airways, Multi Commodity Exchange of India Ltd (MCX), Nexen, and Schroders.
During Q2 FY18, Nutanix's accelerated number of $1 million+ deals was 57 customers with deals over $1 million, up 104% on a y-o-y basis. The Company signed five software and support deals worth more than $3 million in the reported quarter, of which three were worth more than $5 million, and all were with Global 2000 customers.
Cash Matters
At the end of Q2 FY18, Nutanix's cash and short-term investments soared 159% to $918.3 million on a y-o-y basis, primarily as a result of $509 million in net proceeds from its 0% 5-year Convertible Senior Notes issued in the reported quarter. For the reported quarter, the Company had deferred revenues of $478.0 million, up 57% on a y-o-y basis.
For Q2 FY18, Nutanix's operating cash flow totaled $46.4 million compared to $19.8 million in Q2 FY17. The Company's free cash flow came in at $32.4 million versus $7.1 million in the prior year's same quarter.
Financial Outlook
For the third quarter of the fiscal year 2018, Nutanix is forecasting revenues to be between $275 million and $280 million, assuming the elimination of approximately $45 million in pass-through hardware revenues. The Company is estimating non-GAAP gross margin to be between 67% and 68%, and non-GAAP operating expenses to be between $218 million and $220 million. For Q3 FY18, Nutanix is projecting non-GAAP net loss per share to be between $0.19 and $0.21, using 167 million weighted shares outstanding.
Stock Performance Snapshot
April 11, 2018 - At Wednesday's closing bell, Nutanix's stock was slightly down 0.02%, ending the trading session at $52.29.
Volume traded for the day: 2.25 million shares.
Stock performance in the last month - up 1.57%; previous three-month period - up 40.26%; past twelve-month period - up 181.43%; and year-to-date - up 48.21%
After yesterday's close, Nutanix's market cap was at $8.93 billion.
The stock is part of the Technology sector, categorized under the Technical & System Software industry.
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