And despite creating a lot of buzz around HCI, Nutanix has never had a profitable year; and has only had one profitable quarter ever. It reported a loss of $207.2 million in fiscal 2023 and is on track to be in the red for fiscal 2024, which ends in July. Plus, with annual revenue at roughly $1.8 billion, Nutanix remains a relatively small player in a sea of behemoths, making it vulnerable to a takeover. Nutanix stock jumped almost 25% last December on takeover rumors, but to date no clear suitor has emerged.
What does Nutanix offer today?
Enterprises moving forward with digital transformation initiatives are looking to modernize their IT infrastructure to boost performance, increase agility and availability, improve ease of use and lower costs. For many enterprises, this means moving to software-defined infrastructure that has the flexibility to support bare-metal, virtualized, and container-based environments.
“Nutanix enables customers to modernize their data centers, unify all their clouds, and run any business critical and other application at any scale on software-defined infrastructure,” according to IDC.
The company’s core HCI platform scores high marks in evaluations from Gartner and Forrester.
Nutanix is a Visionary in Gartner’s Magic Quadrant for file and object storage. Gartner says: “Nutanix Files and Nutanix Objects are integrated with the Nutanix Cloud Platform to provide a unified storage offering. Nutanix’s Unified Storage platform appeals to customers looking for a single, multiprotocol platform that can be deployed either at the edge, in the data center or in the cloud.”
Nutanix was identified as a leader in the 2023 Forrester Wave for HCI. “The Nutanix vision focuses on building a hybrid and multi-cloud platform for business applications, easing adoption of cloud-native architecture. Nutanix is a good fit for customers looking for a simple, scalable hyperconverged platform designed to enable cloud-native architecture in or out of the public cloud,” says Forrester.
