Nutanix Posts $103M Net Income in Q2 FY2026, Nearly Doubling Prior Year

Nutanix, Inc. (NASDAQ: NTNX), a cloud computing and virtualization software company, reported net income of $103.0 million for the three months ending January 31, 2026, up 83% from $56.4 million in the same quarter a year earlier. For the six months ending January 31, 2026, net income reached $165.1 million, up 91% from $86.4 million in the prior-year period. Read more earnings reports.

Total revenue for the quarter climbed 10% to $722.8 million from $654.7 million a year earlier. For the first half of fiscal 2026, revenue rose 12% to $1.39 billion from $1.25 billion.

Gross profit for the quarter was $631.6 million, up from $569.4 million in the year-ago quarter, yielding a gross margin of 87%. Operating income for the three months ending January 31, 2026 came in at $84.1 million compared to $65.4 million a year earlier. For the six-month period, operating income reached $133.5 million versus $92.7 million in the prior year.

Operating expenses increased to $547.4 million in the second quarter of fiscal 2026 from $504.0 million a year earlier. Research and development spending rose to $202.3 million from $182.8 million. For the six-month period, operating expenses totaled $1.08 billion compared to $985.0 million in the first half of fiscal 2025.

Diluted earnings per share for the quarter were $0.36, compared to $0.19 a year earlier. For the six months, diluted EPS stood at $0.57 versus $0.30 in the prior-year period. Weighted average diluted shares outstanding were 291.9 million for the quarter and 294.2 million for the six-month period.

Cash and cash equivalents stood at $603.4 million as of January 31, 2026, down from $769.5 million six months earlier and $1.07 billion a year earlier. Cash from operations for the first half of fiscal 2026 totaled $394.2 million, up slightly from $383.4 million in the prior-year period.

Cash used in investing activities was $67.3 million for the six months ending January 31, 2026, compared to $375.5 million in the prior-year period. Cash used in financing activities was $492.9 million, reversing a $408.8 million cash inflow from financing activities in the first half of fiscal 2025.

Total assets were $3.28 billion as of January 31, 2026, compared to $3.28 billion six months earlier. Total liabilities increased to $4.11 billion from $3.98 billion. Stockholders' deficit stood at $831.3 million as of January 31, 2026, compared to a deficit of $694.5 million six months earlier. Retained deficit expanded to $4.99 billion from $4.90 billion.

The company had 265.6 million common shares outstanding as of January 31, 2026, down from 269.0 million six months earlier.

Financial Summary

Six-Month Financial Summary