Nutanix Q4 Beats Across the Board: 16% ARR Growth, $840M FY26 Free Cash Flow, and FY27 Guidance Above Consensus
NTNX sits 95% above its 52-week low of $34.01.
Summary
Nutanix delivered a strong Q4 and FY26: 16% ARR growth, $840.7M in FY26 free cash flow, and FY27 guidance that implies double-digit revenue growth with expanding margins.
Key Events · Earnings and Guidance · NTNX
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Q4 Revenue Up 16% to $757.1M
Fourth-quarter revenue grew 16% year-over-year to $757.1 million, with ARR reaching $2.55 billion, also up 16%.
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FY26 Free Cash Flow of $840.7M
Full-year free cash flow rose to $840.7 million from $750.2 million in FY25, with Q4 free cash flow of $277.6 million.
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Non-GAAP Operating Margin Expands 790 bps
Q4 non-GAAP operating margin reached 26.2%, up from 18.3% a year ago, while GAAP operating income more than doubled to $70.0 million.
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FY27 Guidance: $3.18B–$3.23B Revenue
Fiscal 2027 guidance calls for revenue of $3.180–$3.230 billion, non-GAAP operating margin of 24–25%, and free cash flow of $850–$950 million.
Analysis · NTNX · Technology
Nutanix closed fiscal 2026 with accelerating momentum. Q4 revenue grew 16% year-over-year to $757.1 million, ARR reached $2.55 billion (also up 16%), and free cash flow hit $277.6 million for the quarter and $840.7 million for the full year. Non-GAAP operating margin expanded 790 basis points year-over-year to 26.2% in Q4. The company guided fiscal 2027 revenue to $3.180–$3.230 billion with 24–25% non-GAAP operating margin and $850–$950 million in free cash flow — a range that implies roughly 11–13% top-line growth and continued margin expansion. The headline GAAP net income of $1.27 billion for Q4 is inflated by a one-time $1.2 billion deferred tax asset valuation allowance release, so the non-GAAP figures are the better read on operating performance. This comes three weeks after the company announced a 5% workforce reduction, suggesting the restructuring is already contributing to the margin story.
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At the time of this filing, NTNX was trading at $66.30 on NASDAQ in the Technology sector, with a market capitalization of approximately $18B. The 52-week trading range was $34.01 to $82.42. This filing was assessed with positive market sentiment and an importance score of 8 out of 10.