Nutanix, Inc. (NTNX): Modelo de negócios Canvas [Jan-2025 Atualizado]

No cenário em rápida evolução da computação em nuvem e da infraestrutura corporativa, a Nutanix, Inc. é uma força transformadora, reimaginando como as organizações gerenciam e implantam seus ecossistemas digitais. Ao criar uma solução revolucionária de infraestrutura hiperconvergente (HCI) que integra perfeitamente software, hardware e tecnologias em nuvem, a Nutanix se posicionou como inovadora que muda o jogo no mercado de tecnologia corporativa. Seu modelo de modelo de negócios exclusivo revela uma estratégia sofisticada que capacita as empresas para simplificar ambientes complexos de TI, reduzir custos operacionais e acelerar a transformação digital com flexibilidade e eficiência sem precedentes.

Nutanix, Inc. (NTNX) - Modelo de negócios: Parcerias -chave

Provedores de serviços em nuvem

Nutanix mantém parcerias estratégicas com os principais provedores de serviços em nuvem:

Provedor de nuvem	Detalhes da parceria	Ofertas de solução conjunta
Microsoft Azure	Integração da plataforma de nuvem Nutanix	Implantações híbridas em nuvem
Amazon Web Services (AWS)	Soluções de migração em nuvem	Serviços em nuvem corporativa
Plataforma do Google Cloud	Kubernetes e gerenciamento de contêineres	Infraestrutura de várias nuvens

Fabricantes de hardware

Nutanix colabora com os principais fabricantes de hardware:

Fabricante	Escopo da parceria	Certificação de hardware
Dell Technologies	Plataformas de hardware certificadas	Infraestrutura hiperconvergente da série XC
Lenovo	Enterprise Hardware Solutions	Série HX Thinkagile
Hewlett Packard Enterprise (HPE)	Infraestrutura hiperconvergente	Integração do servidor proliant

Integradores de sistemas e revendedores de valor agregado

A Nutanix faz parceria com os integradores globais de sistemas:

• Accenture
• Deloitte
• Kpmg
• Wipro
• Capgemini

Empresas de consultoria de tecnologia

As parcerias de consultoria em tecnologia estratégica incluem:

• Gartner
• IDC
• Forrester Research

Métricas de parceria a partir de 2024:

• Parceiros de hardware certificado total: 15+
• Rede Global de Integradores de Sistemas: 500 mais de parceiros
• Integrações de provedores de nuvem: 3 principais plataformas

Nutanix, Inc. (NTNX) - Modelo de negócios: Atividades -chave

Desenvolvendo soluções de infraestrutura hiperconvergente (HCI)

No ano fiscal de 2023, a Nutanix investiu US $ 569,1 milhões em pesquisa e desenvolvimento, focando nas soluções da HCI. A empresa mantém 1.378 patentes ativas em 30 de setembro de 2023.

Investimento em P&D	Portfólio de patentes	Participação de mercado da HCI
US $ 569,1 milhões (ano fiscal de 2023)	1.378 patentes ativas	Aproximadamente 15,3% do mercado global de HCI

Software em nuvem e engenharia de plataforma

A plataforma Nutanix Cloud suporta vários ambientes em nuvem com as principais métricas de engenharia:

• A plataforma em nuvem suporta 8+ principais provedores de nuvem pública
• Suporta implantações híbridas e de várias nuvens
• Gerencia mais de 20.000 clusters de clientes corporativos

Pesquisa e desenvolvimento de software corporativo

As áreas de foco em P&D incluem:

Área de tecnologia	Porcentagem de investimento
Tecnologias nativas da nuvem	37% do orçamento de P&D
Infraestrutura AI/ML	22% do orçamento de P&D
Aprimoramentos de segurança	18% do orçamento de P&D

Serviços de suporte e implementação do cliente

Nutanix fornece suporte abrangente com as seguintes métricas:

• Cobertura de suporte global 24/7
• Tempo médio de resposta: 30 minutos
• Suporte disponível em 15 idiomas
• Equipe de suporte técnico: 1.200 mais de engenheiros

Inovação contínua de produtos

Métricas de inovação para o ano fiscal de 2023:

Métrica de inovação	Valor
Novos lançamentos de produtos	6 atualizações principais da plataforma
Aprimoramentos de recursos	42 adições significativas de recursos
Melhorias orientadas ao cliente	28% dos novos recursos do feedback do cliente

Nutanix, Inc. (NTNX) - Modelo de negócios: Recursos -chave

Software proprietário e tecnologia de plataforma em nuvem

Plataforma de nuvem Hybrid (AHV) da Nutanix com receita total de licenciamento de software de US $ 536,9 milhões no primeiro trimestre do EF2024. Software total e receita de suporte: US $ 1,15 bilhão no EF2023.

Plataforma de tecnologia	Principais especificações
Plataforma Nutanix Cloud	Suporta mais de 21.000 clientes corporativos globalmente
Software de gerenciamento de prisma	Gerencia mais de 50.000 implantações de cluster em todo o mundo

Propriedade intelectual e patentes de software

Total de patentes concedidas: 1.350 em dezembro de 2023. Portfólio de patentes avaliado em aproximadamente US $ 250 milhões.

• Patentes de infraestrutura hiperconvergente
• Patentes de tecnologia de gerenciamento em nuvem
• Patentes de otimização de virtualização

Engenharia qualificada e força de trabalho técnica

Total de funcionários: 6.539 em janeiro de 2024. Força de trabalho de P&D: 2.187 funcionários.

Categoria de força de trabalho	Número de funcionários
Engenharia	1,642
Desenvolvimento de produtos	545

Data centers globais e infraestrutura em nuvem

Infraestrutura em nuvem abrangendo 18 regiões globais. Investimento total de infraestrutura: US $ 475 milhões no EF2023.

• América do Norte: 7 data centers principais
• Europa: 5 data centers principais
• Ásia-Pacífico: 6 data centers principais

Relacionamentos estratégicos do cliente

Base de clientes corporativos: 21.190 a partir do primeiro trimestre do ano fiscal de 2014. Receita recorrente anual (ARR): US $ 1,94 bilhão.

Segmento de clientes	Número de clientes
Fortune 500 empresas	1,250
Global 2000 Enterprises	2,750

Nutanix, Inc. (NTNX) - Modelo de Negócios: Proposições de Valor

Gerenciamento simplificado de nuvem corporativa e data center

A Nutanix oferece soluções de infraestrutura hiperconvergente (HCI) que simplificam o gerenciamento de data center através de recursos integrados de computação, armazenamento e rede. A partir do quarto trimestre 2023, Nutanix relatou:

Métrica	Valor
Total de clientes	24,460
Implantações corporativas globais	65% das empresas da Fortune 100
Simplificação média de infraestrutura do cliente	Redução de 40% na complexidade do gerenciamento

Soluções de infraestrutura escaláveis ​​e flexíveis

O Nutanix fornece plataformas de infraestrutura flexíveis com os seguintes recursos de escalabilidade:

• Arquitetura agnóstica em nuvem que suporta vários hipervisores
• Escalagem de infraestrutura modular de 3 a 64 nós
• Suporte para ambientes de nuvem pública, privada e híbrida

Reduziu a complexidade de TI e os custos operacionais

Métrica de eficiência de custos	Porcentagem/valor
Redução média de custo de infraestrutura de TI	35%
Economia anual de despesas operacionais	US $ 2,7 milhões por implantação corporativa
Redução de custos de energia e resfriamento	25%

Recursos de implantação híbrida e multi-nuvem unificados

A plataforma de nuvem Nutanix Unified fornece um gerenciamento abrangente de várias nuvens com:

• Integração nativa com a AWS, Azure e Google Cloud
• Gerenciamento consistente em mais de 15 plataformas de nuvem
• Recursos de migração de carga de trabalho em 99,9% de tempo de atividade

Recursos avançados de proteção de dados e segurança

Capacidade de segurança	Especificação
Padrões de criptografia	Criptografia de ponta a ponta AES de 256 bits
Proteção de ransomware	99,5% de taxa de detecção de ameaça
Certificações de conformidade	HIPAA, SOC 2, ISO 27001

Nutanix, Inc. (NTNX) - Modelo de Negócios: Relacionamentos do Cliente

Suporte ao cliente dedicado corporativo

Nutanix fornece suporte global de clientes globais 24/7 com várias camadas de suporte:

Suporte de suporte	Tempo de resposta	Cobertura
Suporte padrão	Próximo dia útil	Problemas básicos de hardware e software
Suporte premium	Resposta de 4 horas	Ambientes de missão crítica
Suporte de elite	Resposta de 1 hora	Cobertura corporativa abrangente

Portais e documentação on-line de autoatendimento

Nutanix oferece recursos digitais abrangentes:

• Portal de suporte a Nutanix com mais de 50.000 artigos da base de conhecimento
• Fóruns comunitários com mais de 250.000 usuários registrados
• Documentação técnica para download e guias de usuário

Serviços de consultoria e implementação técnica

As ofertas de serviço incluem:

• Serviços profissionais com mais de 500 consultores certificados
• Estratégias de implementação personalizadas
• Projeto de arquitetura e assistência de migração

Atualizações regulares de produtos e integração de feedback do cliente

Atualizar frequência	Versões do produto	Canais de feedback do cliente
Trimestral	Prism, aos, era	Conferências de usuários, pesquisas on -line, interações de suporte

Plataformas de compartilhamento de conhecimento orientadas pela comunidade

Nutanix mantém o engajamento ativo da comunidade:

• Nutanix .next Conference com mais de 5.000 participantes anuais
• Grupos de usuários on -line em mais de 30 países
• Programas de certificação técnica com mais de 20.000 profissionais certificados

Nutanix, Inc. (NTNX) - Modelo de Negócios: Canais

Equipe de vendas da empresa direta

A partir do quarto trimestre 2023, a Nutanix mantém uma força de vendas diretas globais de aproximadamente 750 representantes de vendas corporativas. A equipe de vendas cobre várias regiões geográficas:

Região	Representantes de vendas
América do Norte	375
EMEA	225
APAC	150

Plataforma online de comércio eletrônico

A plataforma de vendas digitais da Nutanix gerou US $ 54,3 milhões em receita on -line direta no ano fiscal de 2023. Os principais recursos da plataforma incluem:

• Configurador de preços automatizados
• Opções de compra de autoatendimento
• Geração de cotação instantânea

Rede de parceiros de tecnologia

Em 2023, o Nutanix colaborou com 450 parceiros de tecnologia, incluindo:

Categoria de parceiro	Número de parceiros
Fornecedores de hardware	120
Provedores de nuvem	85
Integradores de software	245

Marketing digital e comunicação baseada na Web

As despesas de marketing digital para Nutanix em 2023 foram de US $ 42,7 milhões, com a seguinte quebra de canal:

• Publicidade do LinkedIn: US $ 15,2 milhões
• Google ADS: US $ 12,5 milhões
• Campanhas de e -mail direcionadas: US $ 8,3 milhões
• Marketing de webinar e evento virtual: US $ 6,7 milhões

Conferências do setor e eventos de tecnologia

A Nutanix participou de 87 conferências e eventos de tecnologia em 2023, com um orçamento total de marketing de eventos de US $ 6,9 milhões. Grandes eventos incluídos:

Evento	Participantes	Gastos com marketing
.Next conferência	5,200	US $ 2,3 milhões
AWS Re: invente	3,800	US $ 1,5 milhão
Microsoft Ignite	4,100	US $ 1,7 milhão

Nutanix, Inc. (NTNX) - Modelo de negócios: segmentos de clientes

Grandes organizações empresariais

A partir do quarto trimestre 2023, a Nutanix atende aproximadamente 22.000 clientes corporativos globalmente. O segmento corporativo da empresa representa 65% de sua base de receita total.

Métricas do segmento corporativo	2023 dados
Total de clientes corporativos	22,000
Contribuição da receita	65%
Valor médio do contrato	$375,000

Negócios no meio do mercado

A Nutanix tem como alvo as empresas no meio do mercado com receitas anuais entre US $ 10 milhões e US $ 500 milhões, representando 25% de sua base de clientes.

• Total de clientes do mercado intermediário: 8.500
• Valor médio anual do contrato: US $ 125.000
• Contribuição da receita: 25%

Entidades do governo e do setor público

Os clientes do governo constituem 15% do portfólio total de clientes da Nutanix, com uma forte presença nas agências governamentais federais, estaduais e locais.

Detalhes do segmento do governo	2023 Estatísticas
Total de clientes do governo	3,200
Contribuição da receita	15%
Tamanho médio do contrato	$450,000

Provedores de serviços em nuvem

Os provedores de serviços em nuvem representam um segmento crescente para a Nutanix, representando 10% de sua base de clientes.

• Total de clientes fornecedores de nuvem: 1.500
• Contribuição da receita: 10%
• Valor médio anual do contrato: US $ 250.000

Instituições educacionais e de pesquisa

A Nutanix atende a aproximadamente 2.000 organizações educacionais e de pesquisa em todo o mundo, representando 5% de seus segmentos totais de clientes.

Métricas do segmento de educação	2023 dados
Total de clientes educacionais	2,000
Contribuição da receita	5%
Valor médio do contrato	$85,000

Nutanix, Inc. (NTNX) - Modelo de negócios: estrutura de custos

Despesas de pesquisa e desenvolvimento

Para o ano fiscal de 2023, Nutanix relatou despesas de pesquisa e desenvolvimento de US $ 545,1 milhões, representando 36,4% da receita total.

Ano fiscal	Despesas de P&D	Porcentagem de receita
2023	US $ 545,1 milhões	36.4%
2022	US $ 577,5 milhões	38.7%

Investimentos de vendas e marketing

A Nutanix alocou US $ 633,1 milhões para vendas e marketing no ano fiscal de 2023, representando 42,3% da receita total.

• Despesas de vendas e marketing para 2023: US $ 633,1 milhões
• Despesas de vendas e marketing para 2022: US $ 696,4 milhões
• Porcentagem de receita em 2023: 42,3%

Manutenção da infraestrutura em nuvem

A empresa investiu significativamente na manutenção da infraestrutura em nuvem, com custos específicos integrados às despesas operacionais.

Categoria de infraestrutura	Custo anual estimado
Infraestrutura em nuvem	US $ 150-200 milhões
Operações de data center	US $ 75-100 milhões

Compensação e benefícios dos funcionários

As despesas totais relacionadas aos funcionários para o ano fiscal de 2023 foram de aproximadamente US $ 812,3 milhões.

• Compensação total dos funcionários: US $ 812,3 milhões
• Custo médio do funcionário por funcionário: US $ 250.000 a US $ 300.000
• Número total de funcionários: aproximadamente 2.700

Custos de licenciamento de hardware e software

A Nutanix incorreu em aproximadamente US $ 120-150 milhões em despesas de licenciamento de hardware e software em 2023.

Categoria de licenciamento	Custo anual estimado
Licenciamento de software	US $ 80-100 milhões
Licenciamento de hardware	US $ 40-50 milhões

Nutanix, Inc. (NTNX) - Modelo de negócios: fluxos de receita

Assinaturas de licenciamento de software

A Nutanix registrou uma receita total de software e suporte de assinatura de US $ 1,59 bilhão para o ano fiscal de 2023, representando 84% da receita total.

Categoria de receita	Valor (2023)	Porcentagem da receita total
Receita de assinatura de software	US $ 1,59 bilhão	84%

Taxas de serviço da plataforma em nuvem

Os serviços de plataforma de nuvem da Nutanix geraram aproximadamente US $ 469 milhões em receita para o ano fiscal de 2023.

• Serviços de infraestrutura em nuvem híbrida
• Soluções de gerenciamento de várias nuvens
• Ofertas de plataforma em nuvem baseadas em assinatura

Serviços de Consultoria Profissional

A receita de serviços profissionais para Nutanix no ano fiscal de 2023 foi de US $ 108 milhões.

Tipo de serviço	Receita
Serviços de implementação	US $ 58 milhões
Consultoria avançada	US $ 50 milhões

Vendas de hardware e eletrodomésticos

As vendas de hardware contribuíram com US $ 209 milhões para a receita total da Nutanix no ano fiscal de 2023.

• Aparelhos de infraestrutura hiperconvergente
• Soluções de hardware físico
• Sistemas de computação e armazenamento integrados

Contratos de suporte e manutenção

A receita do contrato de apoio e manutenção foi de US $ 532 milhões para o ano fiscal de 2023.

Tipo de contrato	Receita anual
Contratos de suporte padrão	US $ 382 milhões
Contratos de suporte premium	US $ 150 milhões

Nutanix, Inc. (NTNX) - Canvas Business Model: Value Propositions

You're looking at the core reasons why enterprises are choosing Nutanix, Inc. now, especially as they navigate the shift to AI and hybrid cloud. Honestly, the value proposition centers on simplifying what has become incredibly complex in the data center and beyond.

Simplifying hybrid multicloud complexity with a single operating platform

Nutanix, Inc. is positioned as a leader in Distributed Hybrid Infrastructure, as noted in the 2025 Gartner Magic Quadrant for Distributed Hybrid Infrastructure. The Nutanix Cloud Platform (NCP) is the vehicle for this simplification, allowing you to run applications and manage data across environments, including support for Amazon Web Services (AWS), Microsoft Azure, and the public preview of Google Cloud. This unified management plane is key when you consider that over 80% of respondents in a recent Enterprise Cloud Index survey noted their current IT infrastructure needs improvement to support modern cloud native applications.

Providing a consistent cloud experience across on-prem and public clouds

The push toward cloud native is real; nearly 90% of organizations report having at least some containerized applications, and 94% agree that their organization benefits from adopting cloud native applications/containers. To address this, the Nutanix Kubernetes Platform (NKP) has seen rapid momentum, earning Nutanix a Leader position in The Forrester Wave: Multicloud Container Platforms, Q3 2025. This platform helps unify operations across hybrid multicloud environments, offering features like seamless, nondisruptive upgrades.

Enabling enterprise AI workloads with integrated NVIDIA solutions

The focus on Artificial Intelligence (AI) workloads is driving infrastructure decisions. Nutanix has deepened its integration with NVIDIA, releasing the latest version of Nutanix Enterprise AI (NAI) featuring enhanced integration with NVIDIA AI Enterprise. This is designed to let you orchestrate AI workflows optimized for GPU infrastructure and compliant with your policies. The platform supports deploying production-grade large language models (LLMs) with enhanced privacy and control by using NVIDIA's NeMo framework for guardrails.

Lowering total cost of ownership (TCO) through software-defined infrastructure

Cost optimization remains a major driver. An independent IDC study quantifying the business value of the Nutanix Cloud Platform showed customers achieved an average TCO savings of 43% compared to their previous infrastructure approach. Furthermore, that same study reported a five-year ROI of 356%. To be fair, you see this reflected in customer wins; for example, one energy technology company switched to Nutanix after seeing a 200% price increase with its incumbent provider.

Here's a quick look at the financial performance underpinning this value delivery as of late 2025:

Metric	Value (FY2025 Full Year)	Context
Revenue	$2.538 billion	Represents an 18% year-over-year growth rate
Non-GAAP Gross Margin	88.1%	A year-over-year increase of 140 basis points
Non-GAAP Operating Margin	21.1%	An increase of approximately 5 percentage points year-over-year
Total Customers	29,930	As of the end of the first fiscal 2026 quarter (October 31, 2025)
New Customers Added (FY2025)	Over 2,700	Demonstrates strength in landing new logos

Delivering mission-critical data services for cloud-native applications

Nutanix is extending its data services beyond traditional virtualization. They announced Cloud Native AOS to bring enterprise storage and advanced data services directly to Kubernetes environments, even without a hypervisor. This is supported by strategic alliances, such as the partnership with Pure Storage to deliver an integrated solution for mission-critical workloads, including AI. You also see this flexibility in the expansion of the NCP to support external storage arrays, with general availability expected for Dell PowerStore support in summer 2026.

The platform's focus on modern workloads is clear:

• Extending enterprise storage to Kubernetes environments.
• Enabling customers to deploy AI workloads.
• Supporting disaster recovery for virtual desktop infrastructure, where scalability is a key feature.
• Offering license portability across different machine locations.

Finance: draft 13-week cash view by Friday.

Nutanix, Inc. (NTNX) - Canvas Business Model: Customer Relationships

You're looking at how Nutanix, Inc. keeps its customers locked in and happy as they transition fully to a subscription model. The relationship focus is clearly on long-term value delivery, supported by dedicated teams and high-touch engagement for the biggest spenders.

Dedicated Customer Success and professional services teams are central to this strategy. The company has a Sales and Support organization comprising approximately 1,350 employees, representing about 29% of the total workforce of roughly 4,650 employees as of August 2025. Furthermore, the Customer Success organization actively guides customers through onboarding and adoption, using resources like the Customer Success Learning Plans (CSLP).

The financial commitment from customers reflects this focus on longevity. The long-term subscription contracts are showing increasing duration. The Average Contract Duration in the fourth quarter of fiscal year 2025 was 3.2 years. For the full fiscal year 2025, the Average Contract Duration was 3.1 years, an increase from 3.0 years in fiscal year 2024. The core of the revenue stream is subscription-based, with Subscription revenue reaching $2,410,751 thousand in fiscal year 2025 against total revenue of $2,537,927 thousand. This high percentage of subscription revenue underpins the importance of contract duration metrics.

For immediate assistance and knowledge transfer, Nutanix, Inc. supports its broad customer base through digital channels. The company reported a base of over 29,290 end customers as of July 31, 2025, marking a 10% growth in the customer base during fiscal year 2025.

• Self-service support and community via the Nutanix portal is available through resources like the Nutanix Support Portal.
• The Customer Success Learning Plans (CSLP) include courses, videos, and documentation for self-guided learning.

Engagement with the largest accounts remains a key driver for high-value deals. Nutanix, Inc. continues to focus on major accounts and large deals as a strategic investment area. While penetration figures can fluctuate, the company has historically served a significant portion of the largest US companies.

Customer Relationship Metric	Value (Latest Available)	Fiscal Period/Context
Total End Customers	29,290	As of July 31, 2025 (End of FY2025)
New Customers Added in FY2025	Over 2,700	Fiscal Year 2025
Average Contract Duration (Q4)	3.2 years	Q4 FY2025
Subscription Revenue	$2,410,751 thousand	Fiscal Year 2025
Sales and Support Headcount	Approximately 1,350 employees	As of August 2025
Fortune 500 Penetration (Reported)	60%	As of End of FY2023

The net dollar-based retention rate was 108% as of July 31, 2025, showing that existing customers are expanding their usage, which is a direct measure of relationship success.

Nutanix, Inc. (NTNX) - Canvas Business Model: Channels

You're looking at how Nutanix, Inc. gets its software and platform solutions into the hands of customers as of late 2025. It's a multi-pronged approach, heavily leaning on partners, which is clear when you look at the financial results for the fiscal year ending July 31, 2025.

The overall business performance shows this channel strategy is working, especially as the company shifts to a subscription-first model. For instance, in the fourth quarter of fiscal year 2025, Nutanix reported GAAP revenue of $653.3 million, which was a 19.2% increase year-over-year. The full fiscal year 2025 revenue landed at $2.538 billion, marking an 18.1% increase compared to fiscal year 2024. Subscription revenue was the engine, making up about 94.4% of total Q4 revenue, with Annual Recurring Revenue (ARR) reaching $2.22 billion, up 17% year-over-year. Honestly, that kind of growth, with a GAAP Gross Margin consistently hitting 87.2% in Q4, suggests the channel mix is driving efficient scale.

Financial Metric (As of Q4 FY2025)	Amount/Value	Year-over-Year Change
Full Year FY2025 Revenue	$2.538 billion	18.1%
Q4 FY2025 Revenue	$653.3 million	19.2%
Q4 FY2025 ARR	$2.22 billion	17%
Q4 FY2025 GAAP Gross Margin	87.2%	200 basis points increase
New Customers Added in Q4 FY2025	Over 2,700	N/A

Indirect sales through the global Elevate Reseller Partner Program

Nutanix has long maintained a channel-first philosophy; they've stated they've been 100% channel focused from day one. The Elevate Reseller Partner Program is the structure for this. For fiscal year 2025, the program was recognized with a 5 Star Rating in the 2025 CRN Partner Program Guide. This program is designed with tiered levels, including a Premier level that offers exclusive benefits like the Outperformance rebate for top performers. To give you a concrete example of incentive structure, a Channel-Led Rebate was structured to allow partners to earn up to 6% on deals closed within a specific period ending July 31, 2024, showing the tangible financial rewards built into the system.

The program focuses on rewarding competency and performance, with levels like Authorized and Professional requiring specific sales and technical skill sets. The success of this ecosystem is evident, as OEM and channel partners aided in strong new logo growth reported in Q1 fiscal 2025.

Direct sales force for large enterprise and strategic accounts

While the channel is broad, Nutanix still deploys a direct sales force. You use this team specifically when targeting the largest organizations or when a deal has strategic importance that requires deep, direct engagement from the vendor. The company has noted success in winning large customers and expanding its footprint in the Global 2000 segment. The pipeline for these larger deals, however, has sometimes led to uncertainty in timing, as management noted a modest elongation of average sales cycles relative to historical levels.

Cloud provider marketplaces (e.g., AWS, Google Cloud) for Cloud Clusters (NC2)

The Nutanix Cloud Clusters (NC2) offering is a key channel for hybrid cloud expansion, allowing customers to run the platform on public cloud infrastructure. In fiscal 2025, Nutanix signed new or enhanced agreements with both AWS and Google to bolster this channel. For instance, NC2 on AWS is available for software subscription via the AWS Marketplace, which simplifies procurement through the customer's existing AWS bill. For Google Cloud, the Nutanix Cloud Clusters solution entered early access in the summer of 2025. To put this in perspective, at the time of Q2 2025 reporting, AWS held a 30% market share and Google Cloud (GCP) held 13% of the worldwide cloud infrastructure services market, making these marketplaces significant routes to market.

• AWS Marketplace: Offers Nutanix Software Subscription for seamless migration to NC2 on AWS.
• Google Cloud: Nutanix Cloud Clusters entered early access in Summer 2025.

Original Equipment Manufacturer (OEM) partners for integrated hardware solutions

OEM partnerships represent a crucial, often high-volume, channel for Nutanix, especially for sales where the software is bundled with hardware. This is reflected in the financial reporting, where 'Non-portable software revenue' specifically includes sales delivered on a configured-to-order appliance by an OEM partner. The strength of this route was highlighted in Q3 fiscal 2025, where OEM partnerships contributed to a 22% year-over-year revenue gain. Key OEM relationships include those with Dell Technologies, where the Dell PowerFlex with Nutanix product saw 'decent traction' in the quarters leading up to late 2025, and agreements with Pure Storage for external storage sales. Growth through these third-party OEM partners was also cited as a factor influencing revenue timing in early fiscal Q1 2026 results.

If you're tracking this, remember that growth in OEM business can sometimes cause a 'revenue shift' in reporting, as seen when Nutanix noted increased customer demand for flexible start dates alongside growth through OEM partners in late 2025.

Nutanix, Inc. (NTNX) - Canvas Business Model: Customer Segments

You're looking at the customer base for Nutanix, Inc. as of late 2025. The company has successfully transitioned to a software-centric, subscription model, and its customer acquisition reflects this focus on hybrid multicloud platform adoption.

Nutanix, Inc. reports a broad and diverse base of over 29,000 end customers as of July 31, 2025. This base saw significant expansion in the fiscal year, adding over 2,700 new customers globally in FY25, which was the highest number of new customer additions in approximately four years. By the first quarter of fiscal 2026 (ended October 31, 2025), the total customer count had grown to 29,930. The stickiness of this customer base is evident, with 77% of end customers making repeat purchases, contributing to a net dollar-based retention rate of 108% as of July 31, 2025.

The overall market penetration across geographies for the full fiscal year 2025, which totaled $2.538 billion in revenue, shows where the bulk of the customer activity is concentrated:

Geographic Segment	FY2025 Revenue (Millions USD)
U.S. Market	$1,409.4 million
Europe, the Middle East, and Africa (EMEA)	$685.6 million
Asia Pacific (APAC)	$392.7 million
Other Americas	$50.2 million

This revenue distribution gives you a sense of the scale within the enterprise and mid-market segments that drive the majority of the business.

The customer base is segmented by the type of infrastructure modernization and compliance needs they address:

• Large enterprises and Fortune 500 companies seeking hybrid cloud solutions.
• Mid-market organizations focused on IT infrastructure modernization.
• Customers in highly regulated industries (e.g., financial services, government).
• Cloud Service Providers (CSPs) and Managed Service Providers (MSPs).

Customers in highly regulated industries form a core part of the Nutanix Cloud Platform (NCP) user base. The platform is deployed across sectors requiring stringent operational standards, including financial services, healthcare, the public sector, manufacturing, and retail. For instance, First Foundation Bank in California uses NCP to manage disaster recovery for its virtual desktop infrastructure, valuing the platform's scalability and license portability. The focus on data sovereignty and resilience, especially with the rise of AI workloads, drives adoption in these compliance-heavy environments.

For the mid-market and large enterprise segments, the driver is often the need to optimize Total Cost of Ownership (TCO) and manage the complexity of hybrid and multicloud environments, especially with the acceleration of GenAI workloads. The platform's ability to support containerization, with nearly 90% of organizations reporting at least some containerized applications, appeals to organizations modernizing their application development stacks.

While specific revenue attribution to CSPs and MSPs isn't itemized, the strategy involves extending the platform to support external storage from qualified partners and public clouds like AWS, Microsoft Azure, and Google Cloud. This partner ecosystem is crucial, as evidenced by the company signing new or enhanced agreements with partners like AWS, Pure Storage, and NVIDIA in fiscal 2025.

The focus on new logo additions, which grew more than 50% year-over-year in Q1 FY2025, suggests strong penetration across all target segments, often aided by industry consolidation events. Finance: draft a breakdown of the 2,700 new FY25 customers by estimated enterprise vs. mid-market size by next Tuesday.

Nutanix, Inc. (NTNX) - Canvas Business Model: Cost Structure

When you look at the Cost Structure for Nutanix, Inc. (NTNX), you see a company heavily weighted toward fueling future growth through its software platform. The most concrete figure you have for a recent period is the Non-GAAP operating expenses of $457.2 million in Q4 FY2025. That's the number that excludes things like stock-based compensation, which helps you see the core cash burn for operations in that quarter.

The investment in innovation is substantial. For the full fiscal year 2025, Research and Development (R&D) expenses totaled $0.737B. This is a clear indicator of the commitment to platform innovation, especially as they push their hybrid multicloud and AI-ready capabilities. To put that in perspective against the prior year, R&D was $0.639B in FY2024, showing a year-over-year increase of about 15.31% for the full fiscal year.

Driving that subscription growth requires significant muscle in the field. The largest single operating expense Nutanix carries is for Sales and Marketing (S&M) costs. For the trailing twelve months (TTM) ending July 31, 2025, S&M amounted to US$1.06b. Honestly, that figure represents about 52% of their total expenses for that TTM period. That's where a huge chunk of your cash goes-hiring engineers, sales reps, and support staff to land those new logos, which they added over 2,700 of in FY2025.

Personnel costs are the engine behind both R&D and S&M. While specific total personnel costs aren't broken out separately from the operating expense line, you can see the scale in executive compensation alone. For instance, President and CEO Rajiv Ramaswami's base salary for FY2025 was set at $800,000, and CFO Rukmini Sivaraman's was $520,000. These fixed costs are baked into the larger operating expense buckets. Infrastructure costs for cloud service consumption and internal operations are certainly present, but they are embedded within the GAAP and Non-GAAP operating expense reporting, not itemized separately in the high-level summaries available.

Here's a quick look at how the main operating expense categories stacked up in the fourth quarter:

Metric	Q4 FY2025 Amount	Q4 FY2024 Amount	Y/Y Change
Non-GAAP Operating Expenses	$457.2 million	$405.5 million	13%
GAAP Operating Expenses	$538.2 million	$479.2 million	12%

The focus on subscription revenue means the cost structure is geared toward acquiring and supporting long-term contracts. You should watch these key cost drivers:

• R&D Investment: Annual spend hit $0.737B in FY2025.
• Sales & Marketing Spend: The largest component, reaching $1.06b TTM.
• Operating Leverage: Non-GAAP Operating Margin improved to 18.3% in Q4 FY2025 from 12.9% in Q4 FY2024.
• Personnel Base: Engineering, sales, and support staff are the primary drivers of the high operating expense base.

If onboarding takes 14+ days, churn risk rises, which directly impacts the return on that heavy S&M spend.

Finance: draft 13-week cash view by Friday.

Nutanix, Inc. (NTNX) - Canvas Business Model: Revenue Streams

The revenue generation for Nutanix, Inc. centers heavily on its software-centric, subscription-based model. This shift is the core of the current financial structure.

Subscription software licensing revenue is the primary source, reflecting the company's transition away from perpetual licenses and hardware sales. This stream includes revenue from software entitlement subscriptions, support subscriptions, and cloud-based software-as-a-service, or SaaS, offerings. Revenue from software entitlement subscriptions is generally recognized upfront upon transfer of control to the customer, while support and SaaS offerings are recognized ratably over the contractual service period.

The scale of this recurring base is captured by the Annual Recurring Revenue (ARR) of $2.22 billion as of Q4 FY2025. This metric tracks the annualized value of all active subscription contracts. Also, the Total GAAP Revenue for FY2025 was $2.538 billion, derived from the reported figure of $2,537,927 thousand. This full-year revenue figure demonstrates the overall scale of the business for the period ending July 31, 2025.

To give you a clearer picture of the revenue mix, here is a look at the components from the fourth quarter of fiscal year 2025, which illustrates the current weighting of these streams:

Revenue Component	Q4 FY2025 Revenue (in thousands)
Subscription revenue	$609,663
Professional services revenue	$28,001
Other non-subscription product revenue	$1,319
Total Revenue (Q4 FY2025)	$638,983

Professional services and training fees form a smaller, supporting revenue stream. This revenue is recognized as the services are performed. For instance, in the fourth quarter of fiscal 2025, this component brought in $28,001 thousand.

The remaining revenue comes from non-portable software and minimal hardware revenue. This category is intentionally minimized as Nutanix focuses on its software-defined, subscription-first strategy. In Q4 FY2025, this 'Other non-subscription product revenue' amounted to $1,319 thousand. The company is actively enabling customers to use existing external storage hardware through new partnerships, which further shifts the revenue mix away from direct hardware sales.

You can see the subscription focus clearly when comparing the key metrics:

• Annual Recurring Revenue (ARR) as of Q4 FY2025: $2.22 billion.
• Total GAAP Revenue for FY2025: $2.538 billion.
• Net Dollar Retention Rate (NDR) at the end of Q4 FY2025 was 108%.
• Average Contract Duration at the end of Q4 FY2025 was 3.2 years.

Finance: confirm the FY2026 revenue guidance breakdown by subscription vs. services by next Tuesday.