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Here's What Key Metrics Tell Us About Nutanix (NTNX) Q4 Earnings
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For the quarter ended July 2023, Nutanix (NTNX - Free Report) reported revenue of $494.21 million, up 28.2% over the same period last year. EPS came in at $0.24, compared to -$0.17 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $475.64 million, representing a surprise of +3.91%. The company delivered an EPS surprise of +60.00%, with the consensus EPS estimate being $0.15.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Nutanix performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Annual Contract Value Billings (ACV Billings): $278.70 million versus $246.56 million estimated by seven analysts on average.
Disaggregation of billings - Professional services billings: $29.92 million compared to the $23.46 million average estimate based on four analysts.
Disaggregation of billings - Subscription billings: $504.19 million compared to the $465.73 million average estimate based on three analysts.
Total Billings: $544.84 million compared to the $497.94 million average estimate based on three analysts.
Disaggregation of billings - Non-portable software billings: $10.38 million versus $8.43 million estimated by three analysts on average.
Total end customers: 24550 compared to the 24880.13 average estimate based on two analysts.
Revenue- Product: $240.50 million compared to the $231.82 million average estimate based on six analysts. The reported number represents a change of +42.5% year over year.
Revenue- Support, entitlements and other services: $253.72 million compared to the $244.20 million average estimate based on six analysts. The reported number represents a change of +17% year over year.
Disaggregation of Revenue- Professional services revenue: $24.02 million compared to the $23.71 million average estimate based on four analysts. The reported number represents a change of +3.9% year over year.
Disaggregation of Revenue- Hardware revenue: $0.35 million versus the four-analyst average estimate of $0.59 million. The reported number represents a year-over-year change of +3.2%.
Disaggregation of Revenue- Subscription revenue: $459.46 million compared to the $443.91 million average estimate based on four analysts. The reported number represents a change of +31% year over year.
Disaggregation of Revenue- Non-portable software revenue: $10.38 million versus the four-analyst average estimate of $7.45 million. The reported number represents a year-over-year change of -9.3%.
Shares of Nutanix have returned +5.8% over the past month versus the Zacks S&P 500 composite's -1.3% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
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Here's What Key Metrics Tell Us About Nutanix (NTNX) Q4 Earnings
For the quarter ended July 2023, Nutanix (NTNX - Free Report) reported revenue of $494.21 million, up 28.2% over the same period last year. EPS came in at $0.24, compared to -$0.17 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $475.64 million, representing a surprise of +3.91%. The company delivered an EPS surprise of +60.00%, with the consensus EPS estimate being $0.15.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Nutanix performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Annual Contract Value Billings (ACV Billings): $278.70 million versus $246.56 million estimated by seven analysts on average.
- Disaggregation of billings - Professional services billings: $29.92 million compared to the $23.46 million average estimate based on four analysts.
- Disaggregation of billings - Subscription billings: $504.19 million compared to the $465.73 million average estimate based on three analysts.
- Total Billings: $544.84 million compared to the $497.94 million average estimate based on three analysts.
- Disaggregation of billings - Non-portable software billings: $10.38 million versus $8.43 million estimated by three analysts on average.
- Total end customers: 24550 compared to the 24880.13 average estimate based on two analysts.
- Revenue- Product: $240.50 million compared to the $231.82 million average estimate based on six analysts. The reported number represents a change of +42.5% year over year.
- Revenue- Support, entitlements and other services: $253.72 million compared to the $244.20 million average estimate based on six analysts. The reported number represents a change of +17% year over year.
- Disaggregation of Revenue- Professional services revenue: $24.02 million compared to the $23.71 million average estimate based on four analysts. The reported number represents a change of +3.9% year over year.
- Disaggregation of Revenue- Hardware revenue: $0.35 million versus the four-analyst average estimate of $0.59 million. The reported number represents a year-over-year change of +3.2%.
- Disaggregation of Revenue- Subscription revenue: $459.46 million compared to the $443.91 million average estimate based on four analysts. The reported number represents a change of +31% year over year.
- Disaggregation of Revenue- Non-portable software revenue: $10.38 million versus the four-analyst average estimate of $7.45 million. The reported number represents a year-over-year change of -9.3%.
View all Key Company Metrics for Nutanix here>>>Shares of Nutanix have returned +5.8% over the past month versus the Zacks S&P 500 composite's -1.3% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.