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VMware Reports Fiscal Year 2022 First Quarter Results www.ir.vmware.com/websites/vmware/English/2120/us-press-release.html Date : 27 May 2021 Total Revenue growth of 9 % year - over - year Subscription and SaaS revenue growth of 29 % year - over - year PALO ALTO , Calif .-- ( BUSINESS WIRE ) -- VMware , Inc. ( NYSE : VMW ) , a leading innovator in enterprise software , today announced financial results for the first quarter of fiscal year 2022 : • Revenue for the first quarter was $ 2.99 billion , an increase of 9 % from the first quarter of fiscal 2021 . The combination of subscription and SaaS and license revenue was $ 1.39 billion , an increase of 12 % from the first quarter of fiscal 2021 . ● • Subscription and SaaS revenue for the first quarter was $ 741 million , an increase of 29 % year - over - year . • GAAP net income for the first quarter was $ 425 million , or $ 1.01 per diluted share , compared to $ 386 million , or $ 0.92 per diluted share , for the first quarter of fiscal 2021. Non - GAAP net income for the first quarter was $ 744 million , or $ 1.76 per diluted share , up 16 % per diluted share compared to $ 640 million , or $ 1.52 per diluted share , for the first quarter of fiscal 2021 . • GAAP operating income for the first quarter was $ 559 million , an increase of 34 % from the first quarter of fiscal 2021. Non - GAAP operating income for the first quarter was $ 923 million , an increase of 13 % from the first quarter of fiscal 2021 . Operating cash flow for the first quarter was $ 1.27 billion . Free cash flow for the first quarter was $ 1.20 billion . • RPO for the first quarter totaled $ 11.0 billion , up 9 % year - over - year . " We are pleased with our Q1 financial performance as we delivered solutions for cu hers in strategic areas like multi - cloud , application modernization and digital workspaces , while focusing on providing a broader set of consumption choices with our Subscription and SaaS offerings , " said Zane Rowe , CFO and Interim CEO , VMware . " We are excited to welcome Raghu Raghuram as the next CEO of VMware . This milestone , along with the proposed Dell spin - off , sets the stage for the company's next innovative chapter . " Business Highlights & Strategic Announcements • The VMware Special Committee of independent directors and Dell Technologies have agreed to terms in which VMware will be spun - off from Dell Technologies . The terms include significant simplification to the corporate ownership structure and an $ 11.5B to $ 12.0B special cash dividend recommended by the independent Special Committee and declared by the VMware Board to all VMware stockholders immediately prior to the spin - off and subject to the satisfaction of all closing conditions . The two companies have also finalized a commercial agreement that preserves and enhances their strategic partnership to deliver joint customer value . • VMware unveiled VMware Cloud , a distributed , multi - cloud platform that enables organizations to accelerate application modernization across the data center , edge , and any cloud . With the launch of VMware Cloud , VMware announced new offerings that bring a more integrated experience to customers , including VMware Cloud Universal , a flexible subscription that simplifies the purchase and consumption of VMware multi - cloud infrastructure and management services . • VMware announced innovations across its VMware vRealize Cloud Management portfolio of on - premises and Software as a Service ( SaaS ) solutions . The new and enhanced capabilities combine to enable customers to more securely deploy and operate their hybrid and multi - cloud environments . • VMware announced portfolio updates to help customers modernize their applications and infrastructure . The new releases of vSphere 7 and vSAN 7 will help IT teams support new and existing applications with infrastructure that is developer and Al - ready ; scales without compromise ; boosts infrastructure and data security ; and simplifies operations . This includes the next step in our collaboration with NVIDIA to deliver an Al - Ready Enterprise platform that combines the industry - leading compute virtualization software of VMware vSphere and the innovation of NVIDIA AI Enterprise suite . • VMware unveiled expanded cloud workload protection capabilities to deliver better security for containers and Kubernetes . The new solution will help increase visibility , enable compliance and enhance security for containerized applications from build to production in public cloud and on - premises environments . • VMware announced VMware Anywhere Workspace , a solution designed to help customers deliver a distributed workforce environment . The offering enables customers to manage multi - modal employee experiences , better secure the distributed edge and automate their workspace . • VMware launched the Customer Lifecycle Incentives Program to help partners facilitate the end - to - end digital transformation for their customers . The program will help partners drive increased profitability through new and expanded customer engagement , a simplified experience , optimized incentive return on investment , and partner - to - partner cooperation rewards . The company will host a conference call today at 1:30 p.m. PT / 4:30 p.m. ET to review financial results and business outlook . A live web broadcast of the event will be available on the VMware investor relations website at http://ir.vmware.com . Slides will accompany the web broadcast . The replay of the webcast and slides will be available on the website for two months . In addition , six quarters of historical data for unearned revenue will also be made available at http://ir.vmware.com in conjunction with the conference call . About VMware VMware software powers the world's complex digital infrastructure . The company's cloud , app modernization , networking , security , and digital workspace offerings help customers deliver any application on any cloud across any device . Headquartered in Palo Alto , California , VMware is committed to being a force for good , from its breakthrough technology innovations to its global impact . For more information , please visit https://www.vmware.com/company.html 1/15