$NTNX Nutanix Inc Deep Dive and 2024 Outlook

The hyperconverged infrastructure provider has transitioned from perpetual to subscription pricing

Nutanix is a private and hybrid cloud software provider founded in 2009 by Dheeraj Pandey, Mohit Aron, and Ajeet Singh. The company started as a hyper-converged infrastructure (HCI) pioneer and now markets its technology as a building block for private clouds. Nutanix offers a hardware-agnostic software platform that manages virtualized resources from a single application, integrating with various vendors like Dell, Lenovo, Cisco, Hewlett Packard Enterprise (HPE), and IBM.

The company's products include a central management hub, unified storage, database management, and virtual desktop infrastructure. Nutanix initially targeted VMware customers but expanded to support Microsoft Hyper-V and KVM hypervisors. The company's software works with many vendors, including OEM partners Dell and Lenovo, and integrates with cloud providers like Amazon Web Services (AWS) and Microsoft Azure. The company has pivoted towards hybrid cloud and monitoring solutions, launching products like Clusters for AWS and extending data services to container applications. Nutanix has also expanded its product portfolio to include remote and edge locations, and it has announced Project Beacon, which aims to deliver a data-centric platform as a service.

The big questions for Nutanix and the stock in 2024?

1. How will Nutanix navigate the competitive landscape?

2. What are the implications of larger deals on financials?

3. How will Nutanix leverage its enterprise AI and modern applications capabilities?

4. What are the key drivers of revenue growth in 2024?

5. How will Nutanix manage its transition to a software-centric, subscription-based business model?