Nutanix Inc - Ordinary Shares - Class A

Strong Financial Performance: Nutanix reported Q4 2025 revenue of $653 million, exceeding the guidance range of $635-645 million and marking a 19% year-over-year growth. For the fiscal year 2025, total revenue stood at $2.54 billion, up 18% YOY. The company generated an impressive free cash flow of $750 million, representing a free cash flow margin of 30%, and achieved a ‘Rule of 40’ score of 48, indicating robust growth coupled with substantial cash generation.

Guidance for Q1 2026 and FY 2026: For Q1 2026, Nutanix expects revenue between $676 to $680 million and a non-GAAP operating margin of 19.5% to 20.5%. The guidance for the full fiscal year 2026 is set at $2.90 to $2.94 billion in revenue (15% growth at the midpoint), with a non-GAAP operating margin of 21% to 22%. Free cash flow is projected at $790 million to $830 million (27.7% margin at the midpoint). This indicates expectations of continued growth but reflects a more conservative outlook than prior periods.

New Customer Acquisition and Market Expansion: The company added over 2,700 new customers in FY 2025, with 50 new Global 2000 accounts, signifying robust demand and market penetration. The notable wins included significant contracts in Germany with Finance Informatic and expansions in the private cloud space for large financial services, pointing to Nutanix's reputation as a reliable partner amid industry consolidation.