Despite posting a strong quarter in terms of subscription revenue and billings growth, Nutanix (NTNX) saw their stock fall just under 10% the day after earnings. Q3 revenue and billings both grew 11% and came in ahead of expectations, though lower than expected profitability and no FY20 revenue guidance likely pushed the stock lower.
The company continues to move along their transition to a subscription based revenue model, shedding legacy hardware and license revenue streams. While this will ultimately make their revenue model more recurring and predictable, it has caused revenue growth to