It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.Predicts and prevents issues to help deliver 99.9999% guaranteed availability %22%3Ca%20href%3D%22https%3A%2F%2Fand resolves 86% of issues %22%3Ca%20href%3D%22https%3A%2F%2Fbefore you even know there’s a problem. The following information was filed by Nimble Storage Inc (NMBL) on Thursday, Novemas an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. Sustained investments in continuing to grow our large enterprise business, both in terms of go-to-market investments as well as R&D investments aimed at further broadening our Adaptive Flash platform toĪddress the broadest spectrum of workloads within large enterprises. Our commercial go-to-market engine is a core competence for theĬompany, and we believe that investments in our commercial business will drive future growth. Increased sales and marketing investments in our core commercial segment in order to aggressively capture the large market opportunity ahead of us. Leveraging our strengths, we plan to reaccelerate growth over the next few quarters by focusing on the following: Gartner named us as a Leader in the Gartner magic quadrant for general-purpose storage arrays the only company built in the last two decades to be in the Leader Quadrant. High customer satisfaction translates into a predictable pattern of repeat purchases by our customers, with repeat bookings accounting for 47% of total bookings in the last 12 however they are a relatively new player in the storage game with a small (but growing)client base. It is does some pretty clever stuff with SSD and snapshots for backup. A key enabler has been the growth in the mix of FibreĬhannel bookings (as a percentage of Fibre Channel + iSCSI), which grew to 23.5% from 17.4% during Q2FY16. Nimble Storage Im thinking of investing in Nimble Storage to replace our current FC SAN infrastructure. Across mid-sized and large enterprises, larger deployments resulted in new customer transaction value reaching record levels. Strong international growth, as international revenue during Q3 grew to a record 22% of total revenue. Our channel ecosystem continues to pay dividends as the portion of bookings initiated by channel partners was at the highest level in over six quarters.Ĭontinued strong growth in large enterprises and cloud service providers, with over 400 global enterprises and over 600 cloud service providers as part of our installed base. We have built a strong go-to-market engine that resulted in 617 new customers during Q3 as our installed base grew toĦ,828 customers. Highlights during Q3 include the following:Ĭontinued steady expansion of our customer base, leveraging our proven go-to-market engine. Through a major disruption with disk-centric architectures transitioning to flash-centric architectures. We also believe our market opportunity remains large as the $40B storage market goes Our Adaptive Flash platform offers the broadest approach to leveragingįlash storage in the modern data center, while our InfoSight cloud-based management provides infrastructure visibility, resiliency and operational simplicity. At the time when the storage market remains veryĬompetitive, this led to lower growth in our commercial business than we believe we could have achieved by maintaining our prior pace of investment in that segment of the market.ĭespite our Q3 results, we believe our business foundation remains extremely strong. Within this overall investment envelope, we increased our investments in the large enterprise business at the expense of investments in our commercial business. We have been managing our total sales and marketing investments in light of our goal of achieving non-GAAPīreakeven operating income in Q4FY16. The shift in investment from our commercial business to enterprise business impacted our growth. Those investments have helped us to acquire large enterprises at a strong pace and grow our enterprise business, the competitive intensity in the market is causing our enterprise investments to take longer than expected to achieve full productivity. Over the last several quarters, we have made significant investments aimed at accelerating large global enterprise customer growth. Our enterprise investments are taking longer to achieve full productivity. We believe there were two developments during the quarter that impacted our performance. Revenue of $80.7 million came in below our guidance of $86 to $88 million, resulting in non-GAAP operating loss of $10.8 million, which was greater than our guidance Q3FY16 Shareholder LetterĬompared to Q3FY15, our Q3FY16 financial results fell short of our expectations.
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