Incannex Healthcare stock tumbles after filing $100M offering
SAN JOSE, Calif. - Nutanix, Inc. (NASDAQ:NTNX), a leader in hybrid multicloud computing, reported second-quarter earnings that narrowly missed estimates but exceeded revenue expectations, sending its stock soaring 12.8% in after-hours trading.
The company posted adjusted earnings per share of $0.46, falling short of the $0.47 analyst consensus. However, revenue for the quarter came in at $654.7 million, surpassing the $641.5 million estimate and marking a significant increase from the same period last year.
Nutanix’s Annual Recurring Revenue (ARR) grew 19% YoY, demonstrating strong momentum in its subscription-based business model. The company also provided an optimistic outlook for the third quarter, projecting revenue between $620 million and $630 million, well above the $595.1 million analyst consensus.
"Our results are benefiting from the strength of the Nutanix Cloud Platform, demand from businesses looking for a trusted long-term partner committed to innovation and customer care, and go-to-market leverage from our partnerships and programs," said Rajiv Ramaswami, President and CEO of Nutanix.
CFO Rukmini Sivaraman highlighted the company’s focus on sustainable, profitable growth, noting strong year-to-date free cash flow generation. Nutanix also recently strengthened its balance sheet by issuing convertible notes and establishing a new revolving credit facility.
The company expects a non-GAAP operating margin of 17% to 18% for the upcoming quarter, indicating continued profitability improvements.
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