Nutanix sells software that helps organizations run applications and manage data across private data centers, public clouds and edge locations. Its platform includes virtualization, storage, cloud management, Kubernetes and enterprise AI capabilities.
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3 reports in this collection
| Report period | Filed with SEC | Form | Source |
|---|---|---|---|
| Jul 31, 20240000950170-24-108159 | Sep 19, 2024 | 10-K | Open 10-Ksec.gov |
| Jul 31, 20250001193125-25-213801 | Sep 24, 2025 | 10-K | Open 10-Ksec.gov |
| Jul 31, 20260001193125-26-394793 | Sep 18, 2026 | 10-K | Open 10-Ksec.gov |
Dates describe the filing metadata. Figures and reporting periods should be checked against the original statement. SEC links open in a new tab.
Nutanix’s operating business improved in fiscal 2026, but its headline profit substantially overstates the recurring earnings improvement. Revenue rose 12% to $2.854 billion and GAAP operating income reached $274.0 million; net income of $1.507 billion included a $1.208 billion noncash tax-allowance release. Operating cash flow increased to $916.7 million. Subscriptions dominate sales, but much license revenue is recognized upfront, making contract length, software delivery and billing arrangements important to interpretation. VMware customer migrations offer an opportunity, not committed demand, while existing-customer net expansion slowed. Cash and short-term investments totaled $2.361 billion at July 31, 2026, alongside convertible debt, purchase commitments and restructuring obligations. Subsequent filings describe a commercial-leadership transition and an executed advisory agreement, not new operating results.
Sources: 10-K · 2026-07-31 · 8-K · 2026-09-24 · 8-K · 2026-10-05
Nutanix operates as one reporting segment and sells primarily through partners and equipment manufacturers. Subscriptions generated approximately 95% of FY2026 revenue, but subscription licenses are generally recognized upfront; support and SaaS revenue are recognized over time. Average contract duration increased from 3.1 to 3.2 years, so reported revenue can change independently of customer additions. The top two distributors accounted for 39% of revenue, although no individual end customer exceeded 10%.
Management attributes growth to renewals, customer acquisition and expansion. It sees VMware licensing and ecosystem changes as an opportunity, but migration costs, existing commitments and hardware-refresh schedules can delay or prevent sales. External-storage support expands deployment options but could replace some core hyperconverged-infrastructure sales. AI revenue and profitability are not separately disclosed. NetApp ONTAP integration remained in limited availability and NKP Metal in early access, rather than full general availability.
Sources: 10-K · 2026-07-31
The September 18, 2026 annual filing covers August 1, 2025–July 31, 2026. Revenue reached $2,853.545 million, with GAAP operating income of $273.970 million versus $172.541 million a year earlier. Operating margin increased from 6.8% to 9.6% because expenses grew more slowly than revenue—not because annual spending fell. Gross margin stayed at 86.8%: better product margins were offset by weaker support and services margins.
Net income of $1,506.837 million included a $1,208.2 million deferred-tax valuation-allowance release. This was not a cash refund; management’s assessment depended on recent U.S. profitability and expected future taxable earnings. Pretax income was $327.108 million. Non-GAAP operating income of $675.360 million excluded $357.667 million of stock-based compensation, plus restructuring and other specified costs. Those exclusions do not make employee compensation economically costless.
Net dollar-based retention fell from 109% to 106%, indicating slower net expansion among beginning-of-period subscription customers without separately identifying churn, pricing or expansion volumes. Reported ARR uses a revised FY2026 methodology, with displayed prior periods conformed; it assumes renewal on existing terms and is neither GAAP revenue nor a forecast. Hardware shortages affected deployment timing, while a third-quarter change allowed certain NX customers to buy software independently of hardware delivery. Their individual revenue effects are unquantified. An equipment useful-life extension takes effect only in FY2027 and therefore did not cause FY2026 margin improvement.
Sources: 10-K · 2026-07-31
Operating cash flow was $916.688 million. Company-defined non-GAAP free cash flow was $840.675 million after $76.013 million of cash capital expenditure. Cash generation benefited from deferred revenue and the noncash stock-compensation add-back, partly offset by working-capital uses. Free cash flow is not profit and does not deduct financing-classified outflows, including $195.534 million of equity-award withholding taxes, $483.543 million of share repurchases or finance-lease principal.
Revenue increasingly preceded billing: current and noncurrent contract assets reached $97.0 million and $96.4 million from immaterial balances a year earlier. These are conditional rights to consideration, not cash. Falling billed receivables cannot by itself establish better collection because the cash-flow statement shows a receivables cash use without a complete reconciliation. Purchase commitments totaled $248.3 million. Lease disclosures also contain an unresolved approximately $15.2 million difference, preventing a single reconciled total commitment figure.
The approximately 5% workforce reduction was announced in August 2026, after year-end, but $27.638 million of charges were recognized in FY2026 and remained unpaid at July 31. Management expected another $5.4–15.4 million of FY2027 charges; completed implementation and realized savings were not established.
Sources: 10-K · 2026-07-31
At July 31, 2026, cash and equivalents were $777.308 million and short-term investments were $1,584.155 million. Some investments have contractual maturities beyond one year but are classified as short term because management intends and is able to use them for current operations. Convertible principal comprised $500 million due October 1, 2027 and $862.5 million due December 15, 2029. Conversion and cash-or-share settlement remain subject to contractual terms.
The $500 million secured revolver was undrawn at year-end, when Nutanix reported covenant compliance. It is not cash. Its February 2030 maturity can occur earlier under specified circumstances; actual covenant headroom and full contractual conditions are not established here. Management expected liquidity, operating cash generation and available borrowing capacity to cover at least 12 months of anticipated needs, not guaranteed funding under all circumstances.
AMD’s completed May 2026 purchase of newly issued shares provided $150 million of financing, not software revenue. Despite repurchases, year-end shares increased from 269.045 million to 270.829 million. The completed $300 million accelerated repurchase is already included in annual repurchases, not an additional use. Remaining repurchase authorization of approximately $728.9 million did not oblige Nutanix to spend it.
Sources: 10-K · 2026-07-31
Hardware availability and longer large-enterprise and federal sales cycles can delay revenue and collections. Cybersecurity, third-party integrations and AI introduce operational and compliance risks; management’s statement that past cybersecurity threats had not materially affected the company is not assurance against future incidents. The DOJ procurement investigation remained ongoing. Management could not estimate a potential loss, although it did not then expect a material adverse effect. Tessell-related proceedings also remained unresolved; the defamation action was stayed pending arbitration, not dismissed, and no loss range was supplied.
Sources: 10-K · 2026-07-31
The September 24, 2026 filing announced Tarkan Maner’s decision to step down as President and Chief Commercial Officer effective October 2, with sales, marketing and customer-experience oversight to transition to CEO Rajiv Ramaswami. An advisory arrangement was then only under discussion. The October 7 filing confirmed an agreement executed that day: a twelve-month term subject to earlier termination, at $37,500 monthly, terminable for cause or by either party on 30 days’ notice.
The agreement provides no new severance, make-whole payments, equity awards or accelerated vesting, but continued service preserves eligibility to satisfy existing awards’ vesting requirements. Neither a guaranteed total payout nor total compensation cost is established. The full agreement was expected with the quarter-ending October 31, 2026 Form 10-Q. Separately, Craig Conway notified Nutanix on October 5 that he would not seek re-election; he would remain a director until the annual meeting. Nutanix attributed that decision to no disagreement. No quantified business effect of these transitions was disclosed.
Sources: 8-K · 2026-09-24 · 8-K · 2026-10-05
USD 2.853545 bn
FY2026 · GAAP · consolidated · Attribution: consolidated · Reported currency
| Fiscal year | Value | YoY |
|---|---|---|
| 2026 | USD 2.853545 bn | 12.4% |
| 2025 | USD 2.537927 bn | 18.1% |
| 2024 | USD 2.148816 bn | — |
Consolidated revenue, net of sales and withholding taxes.
Sources: 10-K · 2026-07-31
USD 188.366 m
FY2025 · GAAP · consolidated · Attribution: consolidated · Reported currency
| Fiscal year | Value | YoY |
|---|---|---|
| 2025 | USD 188.366 m | Turned profitable |
| 2024 | USD -124.775 m | — |
Consolidated net income after income taxes; negative denotes loss.
Sources: 10-K · 2026-07-31
USD 1.506837 bn
FY2026 · GAAP · consolidated · Attribution: consolidated · Reported currency
| Fiscal year | Value | YoY |
|---|---|---|
| 2026 | USD 1.506837 bn | — |
Consolidated net income after income taxes, including the FY2026 deferred-tax valuation-allowance release.
Sources: 10-K · 2026-07-31
USD 916.688 m
FY2026 · GAAP · consolidated · Attribution: consolidated · Reported currency
| Fiscal year | Value | YoY |
|---|---|---|
| 2026 | USD 916.688 m | 11.6% |
| 2025 | USD 821.456 m | 22.1% |
| 2024 | USD 672.931 m | — |
Net operating cash flow under the consolidated statement of cash flows.
Sources: 10-K · 2026-07-31
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