Nutanix Shares Off 7%, Q1 Results Offset By Slowing Annual Recurring Revenue, Federal Vertical Weakness
Nutanix Shares Off 7%, Q1 Results Offset By Slowing Annual Recurring Revenue, Federal Vertical Weakness
Cikos highlights that Nutanix's early success with new go-to-market partnerships and share gains from M&A disruption contributed to strong results in the first quarter of fiscal 2025.$Nutanix (NTNX.US)$ shares are off 7% on Wednesday, following its Q1 2025 earnings report. It showed the company's annual recurring revenue grew 18%, while revenue jumped 16%.
$Nutanix (NTNX.US)$ 周三，股价下跌7%， 根据2025财年Q1季度财报显示，年度营收增长18%，营业收入增长16%。
On Wednesday, analysts changed ratings and price forecasts.
周三，分析师改变了评级和价格预测。
Needham analyst Mike Cikos reiterated the Buy rating on Nutanix, raising the price forecast to $90 from $80. He raised the fiscal 2025 estimate from $1.36 to $1.42.
Needham分析师Mike Cikos重申对Nutanix的买入评级，将价格预测从80美元上调至90美元。他将2025财年的盈利预测从1.36美元上调至1.42美元。
Cikos highlights that Nutanix's early success with new go-to-market partnerships and share gains from M&A disruption contributed to strong results in the first quarter of fiscal 2025.
Cikos强调，Nutanix与新的市场合作伙伴取得了初期成功，并从并购扰动中获得了份额增长，这为2025财年第一季度的强劲业绩做出了贡献。
Despite revenue guidance being above projections for the second quarter of fiscal 2025, management kept its outlook unchanged, which the analyst views as a conservative approach.
尽管2025财年第二季度的营收指导高于预期，管理层仍保持其观点不变，分析师认为这是一种保守的做法。
Cikos also notes Nutanix's strong track record in setting expectations. Operating margin expansion provides flexibility for continued investment in sales and marketing and R&D, he added.
Cikos还指出Nutanix在设定预期方面具有较好的记录。营业利润率的扩张为持续投资于销售和市场营销以及研发提供了灵活性，他补充道。
Northland Capital Markets analyst Nehal Chokshi reiterated the Market Perform rating on Nutanix, raising the price forecast to $77 from $74.
Northland Capital Markets分析师Nehal Chokshi重申对Nutanix的市场表现评级，并将价格预测从74美元上调至77美元。
The analyst notes that Nutanix added 630 customers in the quarter — a 66% year-over-year increase. This indicated a re-acceleration in customer acquisition after a three-year lull.
分析师指出，Nutanix在本季度新增了630名客户，同比增长了66%。这表明在三年的低迷之后，客户获取再次加速。
This growth is attributed to a focus on SMBs and the impact of Broadcom Inc.'s (NASDAQ:AVGO) purchase of VMW (NYSE:VMW).
这种增长归功于对中小型企业的关注以及Broadcom公司（纳斯达克：AVGO）收购VMW（纽约交所：VMW）的影响。
Despite strong revenue, operating profit, and free cash flow results, the analyst observes a slowdown in annual recurring revenue (ARR) growth to 18% year-over-year, down from 22% in the previous quarter.
尽管营业收入、营业利润和自由现金流表现强劲，但分析师观察到年度循环收入（ARR）增长放缓至同比18%，低于上个季度的22%。
The weak incremental ARR of $58 million, a 43% year-over-year decline, is primarily driven by underperformance in the federal vertical, linked to delayed government spending resolutions.
5800万美元的弱增量ARR，同比下降了43%，主要是由于在联邦垂直领域表现不佳，这与政府支出延迟有关。
Additionally, the analyst suggests that the elongation of large deals is contributing to the disappointing drop in incremental ARR, as reflected in the deterioration of NRR from 123% in fiscal 2023 to 110% in the first quarter of 2025.
此外，分析师建议，大额交易的延长导致递增ARR下降，这在未来反映在从2023财年的123%下降到2025财年第一季度的110%的NRR恶化中。
