There are big moves happening at hyperconverged infrastructure all-star Nutanix, from its new partnership with Cisco Systems, its shift to cash-positive financials and stock buyback, as well as the market share it said it hopes to gain as customers look for VMware alternatives.
The company will hold a non-binding vote for shareholders on Dec. 8 that will determine whether Nutanix public owners will give their blessing to the $31.1 million in cash and stock that the board gave the greenlight to award its top four corporate officers.
[RELATED: Nutanix CEO Calls Cisco Partnership, Broadcom-VMware Deal A ‘Tailwind’ In Filing]
Nutanix generated $207 million in free cash flow on the back of $1.5 billion in revenue in its fiscal year 2023. The San Jose, Calif.-based company underlined its confidence during its Aug. 30, 2023, year-end earnings call with an announced $350 million stock buyback.
The company’s new partnership with Cisco gives Nutanix reach into the networking giant’s customer base. Meanwhile, Broadcom’s move to purchase VMware has been providing a steady pipeline of concerned customers who are interested in how Nutanix stacks up versus the Palo Alto, Calif. virtualization powerhouse.
It’s adding up to what Nutanix CEO Rajiv Ramaswami called a “tailwind” that should propel the cloud infrastructure leader to $3 billion in revenue and $700 million to $900 million in free cash flow by 2027.
Even so, the company does have its challenges, including the fact that Nutanix is still losing money on a GAAP basis. In fiscal year 2023, the company reported a net loss of $254.6 million, down from a net loss of $1 billion two years before.
The named executive’s total compensation this year are weighted with more securities than cash.
The following is a list of Nutanix’s top compensated executives in fiscal year 2023.
LEARN MORE: HCI
O’Ryan Johnson is a veteran news reporter. He covers the data center beat for CRN and hopes to hear from channel partners about how he can improve his coverage and write the stories they want to read. He can be reached at [email protected]..
RELATED CONTENT
Nutanix To Miss SEC Deadline Amid Internal Software ProbeNutanix Execs Talk VMware-Broadcom, Layoffs As Stock SpikeseGroup Gets Equity, Plans Acquisitions As It Eyes Growth TO TOPADVERTISEMENT
https://368bb54c0aa3175b505b390a35fbad80.safeframe.googlesyndication.com/safeframe/1-0-40/html/container.html
TRENDING STORIES
- SEC: SolarWinds, CISO Tim Brown ‘Defrauded’ Investors Before Cyberattack | CRN
- Intel Offloads Silicon Photonics Product Line To Jabil | CRN
- Broadcom Misses VMware Deal Closing Date, Pledges It Will Close ‘Soon’ | CRN
- Amazon Q3 2023 Results: CEO Jassy Highlights Partner Role In AWS Growth In Cloud, AI | CRN
- 2023 Next-Gen Solution Provider Leaders | CRN