NTNX Nutanix (NTNX) Q2 FY26 earnings call
Nutanix delivered strong Q2 FY26 results, exceeding revenue guidance and achieving robust bookings and new customer additions, bolstered by a strategic AI partnership with AMD. However, persistent supply chain constraints for server components are delaying revenue recognition and free cash flow conversion, leading to a revised near-term outlook. The company is actively mitigating these timing issues through customer choice and flexible licensing, maintaining confidence in its long-term growth trajectory.
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NTNX operating KPIs by quarter
| KPI | This call Jan 2026 Q2 FY26 | Apr 2026 Q3 FY26 | Jul 2026 Q4 FY26 | Change vs prior quarter |
|---|---|---|---|---|
| Annual recurring revenue (ARR) | — | $2.435BARR at the end of Q3 was $2.435 billion, representing year-over-year growth of 15%.Source: earnings call transcript | $2.549BARR at the end of Q4 was $2.549 billion.Source: earnings call transcript | +4.7% |
| Net revenue retention rate | 107%NRR, or net dollar-based retention rate at the end of Q2 was 107%.Source: earnings call transcript | 106%NRR, our net dollar-based retention rate at the end of Q3 was 106%.Source: earnings call transcript | 106%NRR or net dollar-based retention rate at the end of Q4 was 106%, flat quarter-over-quarter.Source: earnings call transcript | 0 pt |
| Average contract duration | 3.1 yearsIn Q2, average contract duration was 3.1 years, largely consistent with our expectations.Source: earnings call transcript | 3.4 yearsIn Q3, average contract duration was 3.4 years, slightly higher than our expectations.Source: earnings call transcript | 3.3 yearsIn Q4, average billings contract duration was 3.3 years, slightly lower than our expectations.Source: earnings call transcript | -2.9% |
Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.
Inve summary of the company's earnings call; see how call summaries are prepared. Not investment advice.