On this page of StockholderLetter.com we present the latest annual shareholder letter from Nutanix, Inc. — ticker symbol NTNX. Reading current and past NTNX letters to shareholders can bring important insights into the investment thesis.
Proxy Statement and Annual Report 2025

2025 k 8

Letter from Our President and Chief Executive Officer Dear Stockholders, December 2025 will mark the end of my fifth year as CEO of Nutanix. My commitments when I took on this role were to complete our subscription transformation, drive strong multi-year top line growth and profitability, simplify our product portfolio, and expand our partnerships. I m pleased we have largely achieved those outcomes. During this period, Nutanix has transformed from a hyperconverged infrastructure pioneer to a broader cloud platform company with a vision to become the de facto platform for running apps and AI and managing data anywhere. This evolution, combined with our strong subscription business model, has helped us become a rule-of-40+(1) company with revenue of more than $2.5 billion and free cash flow of $750 million. We ve come a long way as a company and yet in many ways, there is so much more to accomplish in the years to come. Expanding our Addressable Opportunity In the modern IT environment, customers are running a number of workloads from traditional applications to modern containerized applications and building a whole new set of applications that embed generative AI, and they are running these applications and storing their associated data across data centers, edges and multiple public clouds. In anticipation of these trends, Nutanix has transformed itself to be a hybrid multicloud platform company, providing our customers the ability to operate across all these environments. We are happy that a leading industry analyst recognized this by identifying us as a leader in the Distributed Hybrid Infrastructure space along with industry giants. While we are pleased with this evolution, there is a broader shift underway where we are seeing customers build modern apps (AI or otherwise) by adopting a container-based approach. About 18 months ago, we made an acquisition to augment our existing Kubernetes offering with substantial capabilities on container management. Our teams have been hard at work to further build an integrated and differentiated solution in the marketplace. Our Kubernetes platform is upstream open-source based, allowing customers ultimate portability for their applications, while integrating a full set of additional open-source capabilities such as networking, security, observability and load balancing that provide companies a turnkey solution to run their modern applications, with enterprise-grade security and resiliency, across multiple cloud environments. We are seeing early signs of growing adoption of the Nutanix Kubernetes Platform across customer segments, regions, and industry verticals. Kubernetes is becoming the primary technology of choice for enterprise AI workloads. Our growing leadership in Kubernetes and container management platforms has also been recognized by industry analysts, validating our strategy and accelerating momentum in this space. We are continuing to build on our offerings that support external storage for those customers who have invested heavily in three-tier architectures and are looking for in-place replacement of their infrastructure software stack as an intermediate step before moving to more modern architectures like HCI or hybrid cloud. Our initial offering on Dell PowerFlex has had good traction with some significant wins already in the few months since the solution became generally available. Since then, we ve expanded these offerings by partnering with and supporting Pure Storage. That solution is expected to be generally available later this calendar year. We also recently announced that we are working with Dell to support their PowerStore platform. We expect to continue expanding our addressability of the external storage market by supporting more partners in the future. 2025 Proxy Statement 01
 • shareholder letter icon 10/22/2025 Letter Continued (Full PDF)
 • stockholder letter icon 10/23/2023 NTNX Stockholder Letter
 • stockholder letter icon 10/22/2024 NTNX Stockholder Letter
 • stockholder letter icon More "Application Software" Category Stockholder Letters
 • Benford's Law Stocks icon NTNX Benford's Law Stock Score = 99


NTNX Shareholder/Stockholder Letter Transcript:

Proxy Statement
and Annual Report
2025


2025


k                8                                         


Letter from Our President and
Chief Executive Officer
Dear Stockholders,
December 2025 will mark the end of my fifth year as CEO of Nutanix. My commitments when I took on this role were to
complete our subscription transformation, drive strong multi-year top line growth and profitability, simplify our product
portfolio, and expand our partnerships. I   m pleased we have largely achieved those outcomes. During this period,
Nutanix has transformed from a hyperconverged infrastructure pioneer to a broader cloud platform company with a
vision to become the de facto platform for running apps and AI and managing data anywhere. This evolution,
combined with our strong subscription business model, has helped us become a rule-of-40+(1) company with revenue of
more than $2.5 billion and free cash flow of $750 million. We   ve come a long way as a company and yet in many ways,
there is so much more to accomplish in the years to come.
Expanding our Addressable Opportunity
In the modern IT environment, customers are running a number of workloads     from traditional applications to
modern containerized applications     and building a whole new set of applications that embed generative AI, and they
are running these applications and storing their associated data across data centers, edges and multiple public clouds.
In anticipation of these trends, Nutanix has transformed itself to be a hybrid multicloud platform company, providing
our customers the ability to operate across all these environments. We are happy that a leading industry analyst
recognized this by identifying us as a leader in the Distributed Hybrid Infrastructure space along with industry giants.
While we are pleased with this evolution, there is a broader shift underway where we are seeing customers build
modern apps (AI or otherwise) by adopting a container-based approach. About 18 months ago, we made an acquisition
to augment our existing Kubernetes offering with substantial capabilities on container management. Our teams have
been hard at work to further build an integrated and differentiated solution in the marketplace. Our Kubernetes
platform is upstream open-source based, allowing customers ultimate portability for their applications, while
integrating a full set of additional open-source capabilities such as networking, security, observability and load
balancing that provide companies a turnkey solution to run their modern applications, with enterprise-grade security
and resiliency, across multiple cloud environments.
We are seeing early signs of growing adoption of the Nutanix Kubernetes Platform across customer segments, regions,
and industry verticals. Kubernetes is becoming the primary technology of choice for enterprise AI workloads. Our
growing leadership in Kubernetes and container management platforms has also been recognized by industry
analysts, validating our strategy and accelerating momentum in this space.
We are continuing to build on our offerings that support external storage for those customers who have invested
heavily in three-tier architectures and are looking for in-place replacement of their infrastructure software stack as an
intermediate step before moving to more modern architectures like HCI or hybrid cloud. Our initial offering on Dell
PowerFlex has had good traction with some significant wins already in the few months since the solution became
generally available. Since then, we   ve expanded these offerings by partnering with and supporting Pure Storage. That
solution is expected to be generally available later this calendar year. We also recently announced that we are working
with Dell to support their PowerStore platform. We expect to continue expanding our addressability of the external
storage market by supporting more partners in the future.
2025 Proxy Statement
01



shareholder letter icon 10/22/2025 Letter Continued (Full PDF)
 

NTNX Stockholder/Shareholder Letter (Nutanix, Inc.) | www.StockholderLetter.com
Copyright © 2023 - 2025, All Rights Reserved

Nothing in StockholderLetter.com is intended to be investment advice, nor does it represent the opinion of, counsel from, or recommendations by BNK Invest Inc. or any of its affiliates, subsidiaries or partners. None of the information contained herein constitutes a recommendation that any particular security, portfolio, transaction, or investment strategy is suitable for any specific person. All viewers agree that under no circumstances will BNK Invest, Inc,. its subsidiaries, partners, officers, employees, affiliates, or agents be held liable for any loss or damage caused by your reliance on information obtained. By visiting, using or viewing this site, you agree to the following Full Disclaimer & Terms of Use and Privacy Policy.