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2024 Proxy Statement and Annual Report

2024 Proxy Statement and Annual Report Friday, December 13, 2024 t v v

Letter from Our President and Chief Executive Of cer Dear Stockholders, Fiscal year 2024 was a year of signi cant nancial milestones and achievements. We achieved GAAP operating pro tability for the full scal year, almost tripled our free cash ow from the previous scal year, and became a rule-of-40+(1) company again. All while growing annual recurring revenue at 20+% and extending our technology vision of becoming the leading platform for running all apps and managing data, anywhere. Challenging the Status Quo As we celebrate our 15-year anniversary, we take pride in the fact that we ve been challengers every step of the way. In our rst decade, we pioneered Hyperconverged Infrastructure (HCI) to help customers simplify and modernize their data centers away from legacy three-tier architectures. Along the way, we had to build an appliance to prove HCI s viability, de-risk customers with an enterprise-grade hypervisor, and transform ourselves into a subscriptionbased software vendor that runs on any hardware platform - challenging the conventional wisdom of its time on each of those dimensions. In just the rst half of our second decade of existence, we ve enabled our customers to run their workloads not just on-premises but also on major public cloud providers, giving them the exibility to get the best of both worlds in a hybrid multicloud world. We ve also created new routes to market for this platform by making it available through major server vendors as well as public cloud marketplaces. While we are proud of those accomplishments, we have higher aspirations as a company. Leading Platform for All Apps and Data With the disruption in the infrastructure market due to recent acquisitions, many companies are actively reevaluating their IT strategy. Many have invested heavily in three-tier architectures both from a hardware as well as a talent standpoint. Some of these organizations are looking at in-place replacements as an intermediate step before moving to more modern architectures like HCI or hybrid multicloud. For them, we recently announced that we are extending our platform to work with traditional three-tier setups with compute-only nodes connected to external IP-based storage. This will enable them to reuse their existing hardware while providing a staged migration to our modern hybrid multicloud platform. We expect to be in the market with our rst server and external storage partners next calendar year. 2024 Proxy Statement 01
 • shareholder letter icon 10/22/2024 Letter Continued (Full PDF)
 • stockholder letter icon 10/23/2023 NTNX Stockholder Letter
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NTNX Shareholder/Stockholder Letter Transcript:

2024
Proxy Statement
and Annual Report


2024
Proxy Statement
and Annual Report
Friday, December 13, 2024
                t                                                                                                                      v  v                


Letter from Our President and
Chief Executive Of   cer
Dear Stockholders,
Fiscal year 2024 was a year of signi   cant    nancial milestones and achievements. We achieved GAAP operating
pro   tability for the full    scal year, almost tripled our free cash    ow from the previous    scal year, and became a
rule-of-40+(1) company again. All while growing annual recurring revenue at 20+% and extending our technology
vision of becoming the leading platform for running all apps and managing data, anywhere.
Challenging the Status Quo
As we celebrate our 15-year anniversary, we take pride in the fact that we   ve been challengers every step of the way.
In our    rst decade, we pioneered Hyperconverged Infrastructure (HCI) to help customers simplify and modernize
their data centers away from legacy three-tier architectures. Along the way, we had to build an appliance to prove
HCI   s viability, de-risk customers with an enterprise-grade hypervisor, and transform ourselves into a subscriptionbased software vendor that runs on any hardware platform - challenging the conventional wisdom of its time on
each of those dimensions.
In just the    rst half of our second decade of existence, we   ve enabled our customers to run their workloads not just
on-premises but also on major public cloud providers, giving them the    exibility to get the best of both worlds in a
hybrid multicloud world. We   ve also created new routes to market for this platform by making it available through
major server vendors as well as public cloud marketplaces.
While we are proud of those accomplishments, we have higher aspirations as a company.
Leading Platform for All Apps and Data
With the disruption in the infrastructure market due to recent acquisitions, many companies are actively reevaluating
their IT strategy.
Many have invested heavily in three-tier architectures both from a hardware as well as a talent standpoint. Some of
these organizations are looking at in-place replacements as an intermediate step before moving to more modern
architectures like HCI or hybrid multicloud. For them, we recently announced that we are extending our platform to
work with traditional three-tier setups with compute-only nodes connected to external IP-based storage. This will
enable them to reuse their existing hardware while providing a staged migration to our modern hybrid multicloud
platform. We expect to be in the market with our    rst server and external storage partners next calendar year.
2024 Proxy Statement
01



shareholder letter icon 10/22/2024 Letter Continued (Full PDF)
 

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