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NUTANIX . Nutanix Reports First Quarter Fiscal 2022 Financial Results November 23 , 2021 Delivers 33 % YoY ACV Billings Growth and 21 % YoY Revenue Growth Drives Outperformance Across All Guided Metrics With Continued Execution on Hybrid Multicloud Vision SAN JOSE , Calif .-- ( BUSINESS WIRE ) -- Nutanix , Inc. ( NASDAQ : NTNX ) , a leader in hybrid multicloud computing , today announced financial results for its first quarter ended October 31 , 2021 . This press release features multimedia . View the full release here : https://www.businesswire.com/news/home/20211123006039/en/ Q1 FISCAL 2022 EARNINGS SUMMARY DATA AS OF OCTOBER 31 , 2021 Q1 FINANCIALS $ 1.398 $ 953M WORLD - CLASS NPS AHV $ 379M 90 Net 90 $ 183M Promoter Score + 67 % + 23 % + 33 % Annual PARTNERSHIP UPDATE LARGE CUSTOMERS 1,580 Nutanix and Citrix Formed Strategic Partnership with Cit Power the Future of Work 57 % AHV Adoption a of NX Cores + dpts Y / Y CUSTOMERS NUTANIX . A Customers with Lifetime Bookings 20,700 560 of > $ 1M Total New Nutanix Q1 Fiscal 2022 Earnings Summary ( Graphic : Business Wire ) " Our first quarter was a good start to our fiscal year , demonstrating strong year - over - year top and bottom - line improvement , " said Rajiv Ramaswami , President and CEO of Nutanix . " We continued to execute towards our targets of free cash flow break - even in the second half of calendar 2022 and a 25 percent - plus ACV billings CAGR through fiscal 2025. " " In our first quarter , we achieved record ACV billings , which grew 33 percent year - over - year , and saw 21 percent year - over - year revenue growth , our highest growth in over three years , " said Duston Williams , CFO of Nutanix . " With the continued progress we've made on our subscription model , we believe it's now appropriate to provide annual guidance . Additionally , having gained a better understanding of potential fluctuations in our average contract term lengths , we are guiding to revenue , on both a quarterly and annual basis . " First Quarter Fiscal 2022 Financial Summary Annual Contract Value ( ACV ) 1 Billings Annual Recurring Revenue ( ARR ) ² Q1 FY'22 $ 183.3 million $ 952.6 million Run - rate Annual Contract Value ( ACV ) ³ $ 1.59 billion Q1 FY'21 $ 137.8 million $ 569.5 million $ 1.29 billion Y / Y Change 33 % 67 % 23 % Average Contract Term4 Revenue5 3.1 years $ 378.5 million 3.5 years $ 312.8 million ( 0.4 ) year 21 % GAAP Gross Margin Non - GAAP Gross Margin GAAP Operating Expenses Non - GAAP Operating Expenses Free Cash Flow 78.5 % 82.1 % $ 434.3 million $ 352.6 million $ ( 1.9 ) million 78.3 % 81.9 % 20 bps 20 bps $ 426.9 million $ 341.2 million $ ( 16.3 ) million 2 % 3 % $ 14.4 million Reconciliations between GAAP and non - GAAP financial measures and key performance measures , to the extent available , are provided in the tables of this press release . Recent Company Highlights • Formed Strategic Partnership with Citrix to Power the Future of Work : Nutanix and Citrix announced a strategic partnership to provide secure , on - demand , and elastic access to apps , desktops , and data from any device , in any location , at any scale through Nutanix hyperconverged infrastructure ( HCI ) and hybrid multicloud deployments of Citrix DaaS and Virtual Apps and Desktops services . • Received Recognition from Gartner for Both Core and Emerging Products 6 : Nutanix was named as a leader in Gartner , Inc.'s Magic Quadrant for Hyperconverged Infrastructure for the fifth time in a row . Nutanix was also named for the