2023-03-07 07:05:24 ET
- Cloud computing software company Nutanix ( NASDAQ: NTNX ) fell more than 7% in premarket trading on Tuesday even as the company reported fiscal second-quarter results that topped estimates.
- For the period ending January 31, Nutanix ( NTNX ) said revenue rose 17.8% year-over-year to $486.5M, topping estimates of $464.07M. The San Jose, California-based company said it generated 23% year-over-year annual contract value, or ACV, billings growth and a record free cash flow margin.
- Looking ahead, it expects third-quarter ACV billings to be between $220M and $225M, with revenue between $430M and $440M.
- For the full-year, it expects ACV billings to be between $905M and $915M, with revenue between $1.8B and $1.81B. Nutanix ( NTNX ) also expects to generate between $100M and $125M in free cash flow for fiscal 2023.
- On the company's earnings call, Nutanix ( NTNX ) CEO Rajiv Ramaswami went into detail on what the company is seeing with demand, especially in light of the pending VMware acquisition .
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Nutanix tumbles even as Q2 sales top estimates