Nutanix, Inc. (NASDAQ: NTNX) noticed its shares traveling sharply higher first thing Tuesday, on releasing financial results for the first quarter ending October 31.
The San Jose-based company, claiming to be a leader in enterprise cloud computing, reported revenues of $314.8 million, up from $313.3 million in the first quarter of fiscal 2019, reflecting revenue compression from the company’s ongoing transition to subscription and the significant reduction of hardware revenue from the prior year
GAAP gross margin proved to be 77.1%, up from 76.3% in the first quarter of fiscal 2019; Non-GAAP gross margin of 80.1%, up from 78.6% in the first quarter of fiscal 2019.
GAAP net loss of $229.3 million, compared to a GAAP net loss of $94.3 million in the first quarter of fiscal 2019; Non-GAAP net loss of $135.3 million, compared to a non-GAAP net loss of $23.7 million in the first quarter of fiscal 2019.
According to CEO Dheeraj Pandey, “Our solid Q1 performance, particularly in the Americas, gives us confidence that we have the right formula for global sales leadership as demonstrated by improved productivity and sales hiring over the last six months.”
Nutanix also trumpeted its inclusion in the 50 Companies to Watch in 2020 List, a complication developed by analysts at Bloomberg Intelligence, taking in such factors as revenue growth, margins, market share, debt, and other factors such as economic conditions.
Shares jumped $5.81, or 20.6%, to $34.67
