Virtualized infrastructure company Nutanix this afternoon reported fiscal Q2 revenue that topped analysts’ expectations, and smaller-than-expected net loss, and an outlook for its annual billings that was above consensus.
The report sent Nutanix shares up about 5% in late trading.
Recently appointed CEO Rajiv Ramaswami called the quarter “strong,” noting the company exceeded its own forecast “on all metrics,” and had “continued our momentum with key customer wins and solid execution.”
CFO Duston Williams added that the company “continued to make progress on our transition to subscription and maintained our disciplined approach to managing operating expenses, which were lower than expected this quarter.”
Added Williams, “We look forward to continuing to execute on our transformation and are confident Nutanix is well positioned for long-term value creation.”
Revenue in the three months ended in January were roughly flat with the prior-year period at $346 million, yielding a net loss of 37 cents a share.
Analysts had been modeling $327 million and a 48-cent loss per share.
Nutanix noted that the Annual Contract Value, or ACV, which it defines as “the total annualized value of a contract, excluding amounts related to professional services and hardware,” had billings that rose 14%, year over year, to $159.2 million.
For the current quarter, the company forecast annual contract value billings of $150 million to $155 million, which is higher than a consensus for $144 million.