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NUTANIX . Nutanix Reports Third Quarter Fiscal 2021 Financial Results May 26 , 2021 Delivers Record ACV Billings Aided by Strong Emerging Product Attach Rate Drives Outperformance Across All Guided Metrics with Consistent Execution SAN JOSE , Calif .-- ( BUSINESS WIRE ) -- Nutanix , Inc. ( NASDAQ : NTNX ) , a leader in private , hybrid and multicloud computing , today announced financial results for its third quarter ended April 30 , 2021 . This press release features multimedia . View the full release here : https://www.businesswire.com/news/home/20210526005995/en/ " I am delighted with our strong quarterly results . For the third quarter in a row , we delivered outperformance across all guided metrics and demonstrated our ability to execute consistently , " said Rajiv Ramaswami , President and CEO of Nutanix . " We are also pleased with our progress on key priorities , including bolstering our ecosystem with our extended partnership with Lenovo , continued momentum with our core cloud software platform and an increased attach rate of our emerging products . " " We saw record ACV billings , with growth accelerating to 18 percent year - over - year , while our disciplined spending delivered operating expenses below our guidance , " said Duston Williams , CFO of Nutanix . " Our growing renewals pipeline will help to drive future top line growth , offer substantial sales and marketing efficiencies , and increase the predictability in our business . " Third Quarter Fiscal 2021 Financial Summary Q3 FY'21 Annual Contract Value ( ACV ) 1 Billings $ 159.9 million Run - rate Annual Contract Value ( ACV ) ² $ 1.45 billion Average Contract Term³ Revenue4 3.3 years $ 344.5 million Q3 FY'20 $ 135.3 million $ 1.15 billion 3.8 years $ 318.3 million Y / Y Change 18 % 25 % ( 0.5 ) year 8 % GAAP Gross Margin Non - GAAP Gross Margin 78.4 % 81.7 % 77.3 % 80.7 % 110 bps 100 bps GAAP Operating Expenses Non - GAAP Operating Expenses Free Cash Flow $ 450.6 million $ 361.5 million $ ( 71.5 ) million $ 476.2 million $ 390.3 million ( 5 ) % ( 7 ) % $ ( 117.5 ) million $ 46.0 million Reconciliations between GAAP and non - GAAP financial measures and key performance measures are provided in the tables of this press release .