Short answer
Nutanix Inc (NTNX) filed its fiscal 2019 10-K annual report with the SEC on Sep 24, 2019. It reported revenue of $1.2B (+7.0% year over year) and net income of −$621M.
- Top risk flagged: Privacy regulation: CCPA effective January 1, 2020, adding disclosure and opt-out obligations as Nutanix expands cloud services
FY2019 key financial metrics · XBRL
- Revenue
- $1.2B
- +7.0% YoY
- Net income
- −$621M
- −109.0% YoY
- Operating margin
- -48.4%
- −24.1 pp YoY
- Gross margin
- 75.4%
- +8.8 pp YoY
- ROE
- -332.4%
- −241.4 pp YoY
- Operating cash flow
- $42M
- −54.4% YoY
Source: XBRL data from the Nutanix Inc (NTNX) FY2019 10-K on SEC EDGAR. USD.
Nutanix Inc FY2019 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Enterprise cloud platform software, converging compute, virtualization, storage, networking, desktop and security across private and public clouds
- New Xi Cloud Services suite, including Xi IoT, Xi Leap, Xi Frame and Xi Beam
- Strategic shift from hardware appliances to software, with subscription billings reaching 60.5% of total billings
- Subscription revenue $648.4 million, up 96.1% year over year
- End customers grew from approximately 10,610 to 14,180, including approximately 810 Global 2000 enterprises
Management Discussion & Analysis
- Revenue $1.236B, up 7.0% YoY, with subscription revenue $648.4M, up 96.1%
- Gross margin 75.4% vs 66.6%, operating margin (48.4%) vs (24.3%), net loss $621.2M
- Best segment: support, entitlements and services revenue $403.7M, up $136.3M; product revenue worst, down $55.6M to $832.4M
- Operating cash flow $42.2M, free cash flow outflow $76.3M, capex $118.5M, no buybacks or dividends disclosed
- Outlook: continued subscription transition and sales investment, with unpredictable sales cycles and potential near-term profitability pressure
Risk Factors
- Privacy regulation: CCPA effective January 1, 2020, adding disclosure and opt-out obligations as Nutanix expands cloud services
- International exposure: 45% of fiscal 2019 revenue from international customers, with Chinese import tariffs and Brexit uncertainty
- Supply chain: Super Micro and Flextronics assemble NX appliances without minimum commitments or price assurances
- Competitive disruption: Dell’s majority ownership of VMware could produce unified offerings competing directly with Nutanix
- Financial risk: $379.6 million fiscal 2017, $297.2 million fiscal 2018 and $621.2 million fiscal 2019 net losses, with $1.6 billion accumulated deficit
Generated from the filing text; verify against the original. How to read a 10-K
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