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Nutanix reported its first quarter financial results Thursday, beating market expectations.
The company reported a non-GAAP net loss of $24.7 million, or 16 cents per share. That’s compared to a non-GAAP net loss of $26 million, or 20 cents per share, in Q1 of fiscal 2017. Revenue came to $275.6 million, up 46 percent year-over-year from $188.6 million in Q1 2017.
Wall Street was looking for an adjusted loss of 26 cents a share on revenue of $266.9 million.
Billings for the quarter totaled $315.3 million, growing 32 percent year-over-year. Nutanix added more than 760 new end-customers during the quarter, ending Q1 with 7,813 end-customers. The company had 49 customers with deals over $1 million in the quarter, up 36 percent year-over-year. The company touted its growing federal sales, as well as Q1 wins with major customers like ConocoPhillips, Scholastic and Toyota Motor North America.
In a statement, CEO Dheeraj Pandey touted the company’s “strong instinct for go-to-market” and its differentiated roadmap for hybrid cloud.
“Over the coming quarters we will thoughtfully adopt a software-centric strategy,” he said. “Customers will continue to experience the same simple purchasing process and high-quality customer service.”
For the second quarter of fiscal 2018, Nutanix expects a non-GAAP net loss per share between 20 cents and 22 cents on revenues between $280 million and $285 million.
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