: Nutanix appoints new revenue chief, expects earnings to come in at high end of forecasts

Nutanix Inc. shares rallied in the extended session Monday after the hyperconverged-infrastructure company appointed a new chief revenue officer and said it expects to perform at the high end of its expectations.

On Monday, Nutanix

appointed Andrew Brinded as CRO, effective immediately, to succeed Dominick Delfino, who the company said has stepped down “to pursue a new opportunity at another technology company.”

Brinded recently served as chief operating officer of worldwide sales. Delfino had just been appointed CRO three quarters ago.

The company said it expects to perform at the high end of most metrics forecast in its last earnings report. Shares were up about 6% after hours, following a 0.5% rise to close the regular session at $15.21.

In late May, Nutanix forecast annual contract value billings of $175 million to $185 million, revenue of $340 million to $360 million, gross margins of 79% to 80%, and adjusted operating expenses of $360 million to $365 million.

“Revenue, ACV billings and non-GAAP gross margin are expected to be at or above the high end of the respective prior ranges, and non-GAAP operating expenses are expected to be in line with the prior ranges,” the company said in a statement Monday.

Analysts surveyed by FactSet expect a fourth-quarter loss of 40 cents a share, revenue of $350.5 million and ACV billings of $179.5 million. The company is expected to report results at the beginning of September.

Nutanix shares are down 58% over the past 12 months, compared with a 6% decline by the S&P 500 index
and a 16% fall by the tech-heavy Nasdaq Composite Index

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