Nutanix’s Revenue by Segment (2017-2022)

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This statistic highlights Nutanix’s Revenue by Segment, split across Product and Support, entitlements and other services segments.
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This statistic highlights Nutanix’s Revenue by Segment, split across Product and Support, entitlements and other services segments.

Nutanix’s Revenue by Segment

Segment Q1 2021 Q4 2021 Q1 2022 Contribution in Q1 2022
Product $155.75 $203.14 $180.10 48%
Support, entitlements, and other services $157.00 $188.21 $198.41 52%
Total $312.75 $391.35 $378.51  100%

(All figures are in millions, except percentages)

The total revenue of Nutanix Inc. increased from $312.75 million in Q1 2021 to $378.51 million in Q1 2022, marking a 21.02% growth on a year-on-year basis. It decreased by 3.28% as compared to $391.35 million earned in Q4 2021.

Nutanix’s revenue is further bifurcated into two segments, namely: Product and Support, entitlements & other services.

Product

Software and hardware revenue make up product revenue. The sale of their enterprise cloud operating system generates the majority of product revenue. Renewals of already acquired software licenses and SaaS products are also available. Revenue from their software products is generally recognized when control is transferred to the customer, which is typically upon shipment for hardware appliance sales, upon making the software available, when not sold with equipment, or as services with SaaS offers, to the consumer.

They consider themselves to be the primary in transactions where the hardware appliance is acquired directly from Nutanix, and they record revenue and costs of goods sold on a gross basis. They believe that revenue allocated to hardware is equivalent to the cost of the hardware purchased. Hardware revenue is often recognized when control is handed over to the client.

The 15.63% increase in product revenue in Q1 2022 was primarily due to increases in software revenue as a result of increased product adoption, partially offset by the impact of the continued transition to selling subscription term-based licenses, which have a shorter average term than those that can be used over the life of the associated appliance. It decreased almost by 12% as compared to $203.14 million earned in Q4 2021.

Support, entitlements, and other services

The key sources of revenue for Nutanix’s support, entitlements, and other services are software entitlements and support subscriptions, which include the right to software upgrades and enhancements as well as technical assistance.  The majority of product sales are done in conjunction with one- to five-year software entitlement and support subscriptions.

Professional services are sometimes sold in tandem with their products. Revenue from software entitlement and maintenance contracts is recognized ratably during the contractual service period, which normally begins when control of the associated goods is transferred to the client. They track revenue from professional services as they are delivered.

As the end customer base grew, so did the corresponding software entitlement and support, subscription contracts, and support, entitlements, and other services revenue jumped 26.37% year over year in fiscal 2022. It decreased by 4.30% as compared to $188.21 million earned in Q4 2021. In Q1 2022, the major contribution to the company’s revenue, of 52% was made by the support, entitlements, and other services segment.

Prior Trend

Before fiscal 2019, they supplied the majority of the solutions on an appliance, therefore revenue comprised both the appliance and the non-portable software that was included with the appliance and lasted for the life of the connected appliance. However, as a result of the business model shift toward software-only sales, more customers began purchasing appliances directly from OEMs while separately purchasing licenses for software solutions from or via one of the channel partners beginning in fiscal 2018.

Furthermore, as a result of the shift to a subscription-based business model, more customers began acquiring individually sold subscription term-based licenses that could be installed on several hardware platforms beginning in fiscal 2019. They expect a higher share of their products to be delivered through subscription term-based licenses or cloud-based SaaS subscriptions as they continue to shift to a subscription-based business model.

About the Company

Nutanix, Inc. was founded in September 2009 in the state of Delaware. Nutanix, Inc. is based in San Jose, California, and has operations in North America, Europe, Asia Pacific, the Middle East, Latin America, and Africa through wholly-owned subsidiaries.

Nutanix, Inc. offers the Nutanix Cloud Platform, a leading enterprise cloud platform that consists of software solutions and cloud services that power customers’ corporate infrastructure. Nutanix solutions run in private, hybrid, and multi-cloud environments, allowing businesses to seamlessly “lift and shift” workloads such as enterprise applications, high-performance databases, end-user computing, and virtual desktop infrastructure (“VDI”) services, cloud-native workloads, and analytics applications between clouds.

The company is traded at the NASDAQ under the ticker symbol NTNX.

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