Nutanix Inc (NASDAQ: NTNX) reported a fourth-quarter loss per share of 57 cents on Wednesday, beating Street estimates of a loss of 64 cents.
The software company's quarterly sales of $299.9 million beat a $293.86-million estimate.
Nutanix posted $1.24 billion in revenue in fiscal 2019, up from $1.16 billion in the prior year.
The stock was rallying by more than 10% to $21.67 in the after-hours session. Nutanix shares were higher by 2.51% at $19.60 at the close of Wednesday's regular trading session.
The company added 990 new customers in the fourth quarter for a total of 14,180 end customers, including 31 from the Global 2000, according to Nutanix.
The company guided to a non-GAAP net loss per share of about 75 cents in the first quarter of fiscal 2020.
“We delivered a solid fourth quarter and believe our performance reflects our execution improvements and the meaningful progress we have made transitioning our business to a subscription model,” Dheeraj Pandey, the chairman, founder and CEO of Nutanix, said in a statement.
Nutanix also announced Wednesday that it has achieved an In Process designation from the Federal Risk and Authorization Management Program for its Xi Government Cloud product, which it said "allows customers to make strategic workload placement decisions for some of the most sensitive U.S. government workloads."
Nutanix Q4 Earnings Outlook
Bullish Analysts Brush Aside Near-Term Impact From Nutanix's Subscription Transition
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