Q1 2026 Nutanix Inc Earnings Call Transcript
Key Points
- Nutanix Inc (NTNX) reported quarterly revenue of $671 million, within the guidance range, representing a year-over-year growth rate of 13%.
- Annual Recurring Revenue (ARR) grew 18% year-over-year to $2.28 billion, indicating strong demand for Nutanix's solutions.
- The company saw healthy new logo additions and solid free cash flow generation, with free cash flow in Q1 at $175 million, representing a margin of 26%.
- Nutanix Inc (NTNX) continues to receive industry recognition, being named a leader in the 2025 Gartner Magic Quadrant for distributed hybrid infrastructure.
- The company is expanding its partnerships, with plans to support Dell's Power Store and Pure Storage FlashArray, enhancing its product offerings.
- Revenue recognition was impacted by a larger-than-expected proportion of bookings with future start dates, resulting in a shift of some revenue from Q1 into future periods.
- The company's full-year revenue guidance was reduced due to the timing of revenue recognition, despite unchanged bookings growth expectations.
- There is a growing proportion of business through third-party OEM partners, which delays revenue recognition until partners ship an appliance.
- Supply chain constraints and potential component shortages could impact the business going forward, although they were not a significant factor in Q1.
- The net dollar-based retention rate (NRR) was flat quarter-over-quarter, indicating challenges in expanding existing customer accounts.
Good day, everyone, and welcome to Nutanix First Quarter 2026 Earnings Conference Call. (Operator Instructions) This conference is being recorded. Now it's my pleasure to turn the call over to Nutanix' Vice President of Investor Relations, Rich Valera. Please go ahead.
Good afternoon, and welcome to today's conference call to discuss first quarter fiscal year 2026 financial results. Joining me today are Rajiv Ramaswami, Nutanix' President and CEO; and Rukmini Sivaraman, Nutanix' CFO. After the market closed today, Nutanix issued a press release announcing first quarter fiscal year 2026 financial results. You'd like to read the release, please visit the Press Releases section of our IR website. During today's call, management will make forward-looking statements, including financial guidance.
These forward-looking statements involve risks and uncertainties, some of which are beyond our control, which could cause actual results to differ materially and adversely from those anticipated by these
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