Nutanix, Inc.
For the period ended Jul 31, 2025. Filed Sep 24, 2025.
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FY2025 · Filed Sep 24, 2025
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, | |||
|---|---|---|---|
| 2023 | 2024 | 2025 | |
| (in thousands) | |||
| Cash flows from operating activities: | |||
| Net (loss) income | $(254,560) | $(124,775) | $188,366 |
| Adjustments to reconcile net (loss) income to net cash provided by operating activities: | |||
| Depreciation and amortization | 76,388 | 73,199 | 72,701 |
| Stock-based compensation | 311,745 | 333,833 | 351,590 |
| Amortization of debt discount and issuance costs | 42,636 | 41,600 | 3,877 |
| Conversion of convertible senior notes attributable to debt discount and issuance costs | — | 107,877 | — |
| Operating lease cost, net of accretion | 35,357 | 31,462 | 29,029 |
| Early exit of lease-related assets | (1,040) | — | — |
| Gain on Frame divestiture | (10,957) | — | — |
| Non-cash interest expense | 19,757 | 18,550 | — |
| Inducement expense from partial repurchase of the 2027 Notes | — | — | 11,347 |
| Other | (11,388) | (13,312) | (4,829) |
| Changes in operating assets and liabilities: | |||
| Accounts receivable, net | (25,885) | (53,811) | (71,886) |
| Deferred commissions | 9,599 | (820) | 16,517 |
| Prepaid expenses and other assets | (59,243) | 46,623 | (8,101) |
| Accounts payable | (9,600) | 14,749 | 30,018 |
| Accrued compensation and benefits | (6,027) | 51,923 | 33,286 |
| Accrued expenses and other liabilities | 53,191 | (82,632) | (4,269) |
| Operating leases, net | (40,257) | (30,475) | (29,954) |
| Deferred revenue | 142,687 | 258,940 | 203,764 |
| Net cash provided by operating activities | 272,403 | 672,931 | 821,456 |
| Cash flows from investing activities: | |||
| Maturities of investments | 965,040 | 774,237 | 476,173 |
| Purchases of investments | (955,330) | (871,259) | (1,359,593) |
| Sales of investments | — | 706,363 | 3,016 |
| Proceeds from Frame divestiture | 5,909 | — | — |
| Payments for acquisitions, net of cash acquired | — | (4,500) | — |
| Purchases of property and equipment | (65,404) | (75,252) | (71,283) |
| Net cash (used in) provided by investing activities | (49,785) | 529,589 | (951,687) |
| Cash flows from financing activities: | |||
| Repayment of convertible notes | (145,704) | (817,633) | — |
| Proceeds from sales of shares through employee equity incentive plans | 46,501 | 51,571 | 68,935 |
| Taxes paid related to net share settlement of equity awards | (10,214) | (161,552) | (256,636) |
| Proceeds from the issuance of convertible notes, net of issuance costs | — | — | 848,010 |
| Payment of third-party debt issuance costs | — | — | (3,448) |
| Partial repurchase of the 2027 Notes | — | — | (95,453) |
| Payment of revolver issuance costs | — | — | (2,794) |
| Repurchases of common stock | — | (131,139) | (307,900) |
| Payment of finance lease obligations | (3,292) | (3,876) | (4,628) |
| Deferred payment of purchases of property and equipment | — | — | (2,000) |
| Net cash (used in) provided by financing activities | (112,709) | (1,062,629) | 244,086 |
| Net increase in cash, cash equivalents and restricted cash | $109,909 | $139,891 | $113,855 |
| Cash, cash equivalents and restricted cash—beginning of period | 405,862 | 515,771 | 655,662 |
| Cash, cash equivalents and restricted cash—end of period | $515,771 | $655,662 | $769,517 |
| Restricted cash (1) | 2,842 | 392 | 15 |
| Cash and cash equivalents—end of period | $512,929 | $655,270 | $769,502 |
| Supplemental disclosures of cash flow information: | |||
| Cash paid for income taxes | $30,781 | $23,647 | $32,537 |
| Supplemental disclosures of non-cash investing and financing information: | |||
| Purchases of property and equipment included in accounts payable and accrued and other liabilities | $15,754 | $19,275 | $6,945 |
| Forfeited paid-in-kind interest recognized in equity upon note conversion | $— | $6,019 | $— |
| Unpaid taxes related to net share settlement of equity awards included in accrued expenses and other liabilities | $— | $— | $13,423 |
(1)
Included within other assets—non-current in the consolidated balance sheets.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
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