Nutanix, Inc. (NTNX) is up 4.19% in the after-hours trading session at the price of $38.50 after the release of the fourth quarter and fiscal 2021 financial results. NTNX is a global leader in cloud software and a pioneer in hyper-converged infrastructure solutions, making clouds invisible.
NTNX Reported Fourth Quarter and Fiscal 2021 Financial Results
On 1st September 2021, NTNX reported financial results for its fourth quarter and fiscal year ended 31st July 2021. CEO of NTNX, Rajiv Ramaswami, remarked that their fourth quarter was a great end to an excellent fiscal year. They have observed consistent execution and solid progress across both financial and strategic objectives. They have entered their fiscal 2022 with good momentum and a solid growth plan. They are working on the model they laid out at Investor Day and delivering on their vision of making clouds invisible. They have achieved records across several key metrics in the fourth quarter. Their ACV billings and revenue grew 26 and 19 percent year over year, respectively. They anticipate their growing base of low-cost renewals will drive further improvements in top and bottom-line performance in fiscal 2022, he concluded.
Fourth Quarter Fiscal 2021 Financial Highlights
NTNX reported revenue of $1.39 million for the fourth quarter ended 31st July 2021. It represents a 19% year-over-year gain from $327.9 million in the fourth quarter of 2020. Operating expenses during fourth quarter of 2021 were $454.1 million. It represents an increase of 5% from $432.3 million in the same quarter ended 31st July 2020.
Fiscal 2021 Financial Summary
NTNX reported revenue of $390.7 million for the fiscal year ended 31st July 2021. It represents a 7% year-over-year gain from $1.31 billion in fiscal 2020. Operating expenses during fiscal 2021 were $1.76 billion. It represents a drop of 5% from $1.85 billion in the fiscal year ended 31st July 2020.
NTNX Scheduled Leading Hybrid Multi-cloud Conference
On 31st August 2021, NTNX announced the speakers and programming for its NEXT Digital Experience conference. The conference is scheduled virtually from 20-23rd September 2021. This event will bring together IT and cloud professionals from all around the world. They will collaborate to explore the latest trends, solutions, and best practices in hybrid multi-cloud technology. The event will feature fresh perspectives on topics that include hybrid multi-cloud, HCI and private cloud, and app modernization. NTNX will deliver insightful keynotes from experts and thought leaders. They will discuss the latest breakthroughs in data center and cloud technologies.