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Nutanix Inc. (NTNX+2.20%) has submitted its 10-Q filing for the quarterly period ended January 31, 2025.
The filing reports total revenue of $654.7 million for the quarter, an increase from $565.2 million in the same quarter the previous year. Product revenue increased to $354.2 million, while support, entitlements, and other services revenue rose to $300.5 million.
Cost of revenue for the quarter was $85.3 million, resulting in a gross profit of $569.4 million, compared to $483.7 million in the previous year. Gross margin improved to 87.0% from 85.6% in the prior year.
Operating expenses increased to $504.0 million from $446.6 million in the previous year, driven by higher sales and marketing, research and development, and general and administrative expenses.
The company reported an income from operations of $65.4 million, up from $37.0 million in the previous year.
Other expenses, net, were $0.4 million, compared to other income of $2.1 million in the previous year. This decrease was primarily due to inducement expense related to the partial repurchase of convertible notes.
Net income for the quarter was $56.4 million, compared to $32.8 million in the previous year. Basic net income per share was $0.21, and diluted net income per share was $0.19.
Nutanix reported cash and cash equivalents of $1,072.2 million as of January 31, 2025, with short-term investments of $670.7 million.
The company highlighted its continued investment in sales and marketing, research and development, and its focus on leveraging partnerships to drive growth.
Nutanix's subscription-based business model continues to provide flexibility to customers, with average contract durations increasing to approximately 3.0 years.
The filing also discusses the company's recent issuance of $862.5 million in convertible senior notes due 2029 and the establishment of a $500.0 million revolving credit facility.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Nutanix Inc. quarterly 10-Q report dated March 6, 2025. To report an error, please email earnings@qz.com.