We're also seeing a steady increase in deployment sizes across our commercial as well as enterprise customer base. Similarly bookings from our cloud service provider base over the last 12 months grew at 68% compared to the same period 12 months ago. We now have over 400 global enterprises within our customer base, and their bookings over the last 12 months grew at 65% over the previous 12-month period. We now have over 4,000 accredited system engineers within our channel partner community – a key source of leverage for us in growing our customer base.Įven as we grow our installed base steadily we continue to grow our large enterprises and cloud service provider base at a strong pace.
Nimble storage earnings driver#
During Q3 we acquired 617 new customers to end with an installed base of 6,828 customers.Ī key driver of our rapid pace of customer acquisition have been the strength of our channel ecosystem as the channel initiative bookings accounted for almost half of our total bookings during the quarter.
Nimble storage earnings drivers#
Secondly, the fundamental growth drivers we are focused on as a company are very much still in place. Underscoring the differentiation of our platform Gartner recognized us as a leader in the Gartner Magic Quadrant for general-purpose arrays, the only company built in the last two decades to be in the leader quadrant. Our adaptive flash platform offers a broadest approach to leveraging flash storage in the modern data center, while our InfoSight cloud-based management provides unmatched infrastructure visibility, resiliency and operational simplicity. We believe that this decrease investment led to slower growth than we would have seen had we maintained our previous pace of investment.ĭespite our Q3 results, we believe our business foundation remains extremely strong. This decreased investment affected areas such as the number of commercial teams and inside sales teams, demand generation program and channel incentives. Second, given an overall investment envelope, we shifted investments from our commercial segment to the large enterprise segment. First, our investments in building out large enterprise customer base is making solid progress, but these investments are taking longer to get fully productive. Specifically, there are two developments during the quarter that we believe impacted us. Given the backdrop of the storage market that's extremely competitive where storage vendors are investing heavily to defend market share, we now believe that this approach of constraining investments at the same time that we diversify our customer base may have impacted our growth. At the same time as we make this transformation, we've also been focused on achieving non-GAAP breakeven operating income in Q4 FY 2015 by balancing topline growth versus investments in the business. We have been executing a strategy of augmenting our traditional customer base of mid-sized enterprises by focusing on large enterprises. Although our Q3 FY 2016 revenue grew 37% compared to Q3 FY 2015 and we executed well on many operational dimensions, our Q3 FY 2016 results fell short of our expectations. Good afternoon and thank you for joining us on today’s call.
A reconciliation of GAAP to non-GAAP measures is available in our shareholder letter and earnings press release available on our Investor Relations website. For a more detailed description of these risks, refer to our earnings press release issued today and our Form 10-Q filed with the SEC.ĭuring this call, we will discuss GAAP and non-GAAP financial measures. These forward-looking statements involve risks and uncertainties, some of which are beyond our control, which could cause actual results to differ materially from those anticipated by these statements. The shareholder letter, earnings press release and a live webcast of this session are available on the Investor Relations page of our website at .Īs a reminder, during the course of this call, we will make forward-looking statements, including statements regarding our revenue and earnings per share guidance for our fiscal fourth quarter. Joining me are Suresh Vasudevan, Chief Executive Officer, and Anup Singh, Chief Financial Officer.Īfter the market closed today, Nimble Storage issued a press release and shareholder letter announcing the financial results for the third quarter.
Thank you for joining today’s conference call to discuss third quarter fiscal 2016 results for Nimble Storage.
Today’s conference is being recorded.Īt this time, I would like to turn the conference over to Edelita Tichepco, Nimble Storage Investor Relations. Welcome to the Nimble Storage Fiscal Third Quarter Earnings Conference Call. ( NYSE: NMBL) Q3 2016 Results Earnings Conference Call Novem5:00 PM ETīrent Bracelin - Pacific Crest Securities
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