Filing Flows › Nutanix (NTNX) › How it makes money
How Nutanix (NTNX) makes money
Nutanix (NTNX) made $757M of revenue in the fourth quarter fiscal 2026 (Q4 FY26). Subscription and Circulation brought in $719M (95%); Professional Services brought in $38.0M (5%). Of every dollar of revenue, 86¢ was left as gross profit, 9¢ was left as operating profit, 168¢ was left as net earnings.
Drawing the Sankey…
Revenue by segment, Q4 FY26
| Segment | Revenue | Share | Q/Q | Y/Y |
|---|---|---|---|---|
| Subscription and Circulation | $719M | 95.0% | +8% | — |
| ↳ Subscriptionand Circulation Software Termbased Licenses | $370M | 48.9% | +8% | — |
| ↳ Subscriptionand Circulation Software Entitlementand Support Subscription | $349M | 46.1% | +8% | — |
| Professional Services | $38.0M | 5.0% | -0.8% | — |
Where each dollar of revenue goes
| Line | Q4 FY26 | % of revenue |
|---|---|---|
| Revenue | $757M | 100.0% |
| Cost of revenue | $106M | 14.0% |
| Gross profit | $651M | 86.0% |
| Operating expenses | $581M | 76.8% |
| Operating profit | $70.0M | 9.2% |
| Net earnings | $1.3B | 167.7% |
| Operating cash flow | $315M | 41.6% |
| Free cash flow | $278M | 36.7% |
Revenue, quarter by quarter
| Quarter | Revenue | Y/Y |
|---|---|---|
| Q4 FY26 | $757M | +16% |
| Q3 FY26 | $703M | +10% |
| Q2 FY26 | $723M | +10% |
| Q1 FY26 | $671M | +14% |
| Q4 FY25 | $653M | +19% |
| Q3 FY25 | $639M | +22% |
| Q2 FY25 | $655M | +16% |
From Nutanix's 10-K filed Sep 18, 2026 (on EDGAR).
Questions
How does Nutanix make money?
Nutanix (NTNX) made $757M of revenue in the fourth quarter fiscal 2026 (Q4 FY26). Subscription and Circulation brought in $719M (95%); Professional Services brought in $38.0M (5%). Of every dollar of revenue, 86¢ was left as gross profit, 9¢ was left as operating profit, 168¢ was left as net earnings.
What is Nutanix's biggest business?
Subscription and Circulation: $719M in the fourth quarter fiscal 2026, 95% of revenue.
What is Nutanix's profit margin?
Net earnings were $1.3B, 167.7% of revenue, in the fourth quarter fiscal 2026; the operating margin was 9.2%.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.