Nutanix, Inc. (NTNX) SEC Filings & Earnings Calls

Supply Chain and Hardware Cost Headwinds

“While we did face headwinds from increased hardware pricing, hardware availability and supply chain constraints that affected customer budgets and projects” · word for word

Equity Dilution from Share Reserve Increase

“total overhang, defined as outstanding awards plus shares available for future awards divided by shares outstanding, would increase from approximately 9.0% to approximately 11.5%” · word for word

TSR Performance Risk for PRSUs

“FY26-FY28 PRSU Performance Results ... Nutanix TSR (29.6)% ... Percentile Rank 36.3%” · word for word

Loss of a director and a senior executive; though transition is orderly and no disagreement cited, key personnel changes may affect strategic continuity.

“Craig Conway's decision not to stand for re-election; Tarkan Maner stepped down as President and Chief Commercial Officer.”

Departure of key commercial leader may disrupt sales and customer relationships

“President and Chief Commercial Officer stepping down; CEO to assume oversight of sales, marketing, and customer experience”

Hardware supply chain constraints

“Beginning in the latter half of the second quarter of fiscal 2026, constraints affecting the availability of certain hardware components at manufacturers became increasingly acute.” · word for word

Macroeconomic uncertainty

“Macroeconomic conditions, including inflation, fluctuations in interest rates, foreign currency fluctuations, tariffs or other trade restrictions, geopolitical issues, changes in government policy or spending, and other changes in economic conditions, may adversely affect the buying patterns of our customers and prospective customers.” · word for word

Competitive pressure and deal variability

“Over time, our sales pipeline has evolved to include a higher mix of larger deal opportunities, which often take longer to close and require more levels of review from the customer's executive team, involve greater competition, and have greater variability in timing, outcome and deal structure.” · word for word

Debt servicing risk

“As of July 31, 2026, we had outstanding $500.0 million aggregate principal amount of 0.25% convertible senior notes due 2027 and $862.5 million aggregate principal amount of 0.50% convertible senior notes due 2029.”

Gross margin slightly declined (GAAP -120bps, non-GAAP -60bps) due to mix shift or cost pressures.

“GAAP Gross Margin 86.0%, down 120 bps YoY; Non-GAAP Gross Margin 87.7%, down 60 bps YoY.”

Workforce reduction may impact employee morale and operational execution

“reduce its global workforce by approximately 5%” · word for word

Restructuring charges of $33M-$43M will impact near-term profitability

“aggregate pre-tax charges of approximately $33 million to $43 million” · word for word

Hardware supply chain disruption

“Beginning in the latter half of the second quarter of fiscal 2026, constraints affecting the availability of certain hardware components at manufacturers became increasingly acute. These constraints have resulted in higher hardware pricing in the market and extended hardware lead times, which vary across hardware vendors. Higher hardware pricing, together wi” · word for word

Customer retention and expansion slowdown

“As of April 30, 2026, our net dollar-based retention rate ("NRR") was 106%, compared to 110% as of April 30, 2025.” · word for word

Macroeconomic uncertainty

“Macroeconomic conditions, including inflation, fluctuations in interest rates, foreign currency fluctuations, tariffs or other trade restrictions, geopolitical issues, changes in government policy or spending, and other changes in economic conditions, may adversely affect the buying patterns of our customers and prospective customers, including the length of” · word for word

Gross margin slightly declined YoY (GAAP -10bps, non-GAAP -40bps), indicating potential cost pressure.

“GAAP Gross Margin 86.9% vs 87.0%; Non-GAAP Gross Margin 87.8% vs 88.2%.”

Free cash flow decreased YoY ($197.2M vs $203.4M), though still strong.

“Free Cash Flow $197.2 million vs $203.4 million.”

Dilution of existing shareholders.

“Issuance of 4,136,789 shares to AMD.”

Hardware supply chain delays

“In the latter half of the second quarter of fiscal of 2026, constraints affecting the availability of certain hardware components at manufacturers became increasingly acute, extending hardware lead times.” · word for word

NRR decline

“NRR was 107%, compared to 109% as of January 31, 2025.” · word for word

Supply chain constraints causing longer server lead times, delaying revenue and FCF recognition from strong bookings.

“we saw supply chain constraints driving longer server lead times for our customers. We expect this dynamic to have some impact on the timing of our near-term revenue and free cash flow.” · word for word

Macroeconomic Uncertainty

“Macroeconomic conditions, including inflation, fluctuations in interest rates, foreign currency fluctuations, tariffs or other trade restrictions, geopolitical issues, changes in government policy or spending, and other changes in economic conditions, may adversely affect the buying patterns of our customers and prospective customers” · word for word

Sales Cycle Variability

“Over time, our sales pipeline has evolved to include a higher mix of larger deal opportunities, which often take longer to close and require more levels of review from the customer's executive team, involve greater competition, and have greater variability in timing, outcome and deal structure.” · word for word

Declining NRR

“As of October 31, 2025, our net dollar-based retention rate ("NRR") was 109%, compared to 112% as of October 31, 2024.” · word for word

Revenue shift from Q1 to future periods due to timing; CFO expects dynamic to continue, factored into guidance.

“CFO: 'late in the quarter, we saw some revenue shift from Q1 into future periods... We expect this dynamic to continue and have factored it in our Q2 and updated full-year revenue guidance.'”