Nutanix Inc
For the period ended Jul 31, 2024. Filed Sep 19, 2024.
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FY2024 · Filed Sep 19, 2024
NTNX$59.29-0.3%Stored close · as of Nov 10, 2026
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Item 8. Consolidated Statements of Cash Flows
| Fiscal Year Ended July 31, | |||
|---|---|---|---|
| 2022 | 2023 | 2024 | |
| (in thousands) | |||
| Cash flows from operating activities: | |||
| Net loss | $(798,946) | $(254,560) | $(124,775) |
| Adjustments to reconcile net loss to net cash provided by operating activities: | |||
| Depreciation and amortization | 87,952 | 76,388 | 73,199 |
| Stock-based compensation | 343,246 | 311,745 | 333,833 |
| Change in fair value of derivative liability | 198,038 | — | — |
| Loss on debt extinguishment | 64,910 | — | — |
| Amortization of debt discount and issuance costs | 40,233 | 42,636 | 41,600 |
| Conversion of convertible senior notes attributable to debt discount and issuance costs | — | — | 107,877 |
| Operating lease cost, net of accretion | 36,905 | 35,357 | 31,462 |
| Early exit of lease-related assets | 597 | (1,040) | — |
| Gain on Frame divestiture | — | (10,957) | — |
| Non-cash interest expense | 19,270 | 19,757 | 18,550 |
| Other | 9,282 | (11,388) | (13,312) |
| Changes in operating assets and liabilities: | |||
| Accounts receivable, net | 60,998 | (25,885) | (53,811) |
| Deferred commissions | (24,170) | 9,599 | (820) |
| Prepaid expenses and other assets | (36,166) | (59,243) | 46,623 |
| Accounts payable | (1,461) | (9,600) | 14,749 |
| Accrued compensation and benefits | (19,674) | (6,027) | 51,923 |
| Accrued expenses and other liabilities | 5,457 | 53,191 | (82,632) |
| Operating leases, net | (46,773) | (40,257) | (30,475) |
| Deferred revenue | 127,845 | 142,687 | 258,940 |
| Net cash provided by operating activities | 67,543 | 272,403 | 672,931 |
| Cash flows from investing activities: | |||
| Maturities of investments | 1,058,116 | 965,040 | 774,237 |
| Purchases of investments | (1,081,246) | (955,330) | (871,259) |
| Sales of investments | 17,999 | — | 706,363 |
| Proceeds from Frame divestiture | — | 5,909 | — |
| Payments for acquisitions, net of cash acquired | — | — | (4,500) |
| Purchases of property and equipment | (49,058) | (65,404) | (75,252) |
| Net cash (used in) provided by investing activities | (54,189) | (49,785) | 529,589 |
| Cash flows from financing activities: | |||
| Repayment of convertible notes | — | (145,704) | (817,633) |
| Payments of debt extinguishment costs | (14,709) | — | — |
| Proceeds from unwinding of convertible note hedges | 39,880 | — | — |
| Payments for unwinding of warrants | (18,390) | — | — |
| Proceeds from sales of shares through employee equity incentive plans | 67,826 | 46,501 | 51,571 |
| Taxes paid related to net share settlement of equity awards | — | (10,214) | (161,552) |
| Proceeds from the issuance of convertible notes, net of issuance costs | 88,687 | — | — |
| Repurchases of common stock | (58,570) | — | (131,139) |
| Payment of finance lease obligations | (1,089) | (3,292) | (3,876) |
| Net cash provided by (used in) financing activities | 103,635 | (112,709) | (1,062,629) |
| Net increase in cash, cash equivalents and restricted cash | $116,989 | $109,909 | $139,891 |
| Cash, cash equivalents and restricted cash—beginning of period | 288,873 | 405,862 | 515,771 |
| Cash, cash equivalents and restricted cash—end of period | $405,862 | $515,771 | $655,662 |
| Restricted cash (1) | 3,012 | 2,842 | 392 |
| Cash and cash equivalents—end of period | $402,850 | $512,929 | $655,270 |
| Supplemental disclosures of cash flow information: | |||
| Cash paid for income taxes | $20,353 | $30,781 | $23,647 |
| Supplemental disclosures of non-cash investing and financing information: | |||
| Purchases of property and equipment included in accounts payable and accrued and other liabilities | $17,139 | $15,754 | $19,275 |
| Forfeited paid-in-kind interest recognized in equity upon note conversion | $— | $— | $6,019 |
(1)
Included within other assets—non-current in the consolidated balance sheets.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
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