Nimble Storage Reports Financial Results for Fourth Quarter and Fiscal Year 2015
finance.yahoo.com
- Fourth Quarter Revenues Up 64% year-over-year to $68.3M. Fiscal Year 2015 Revenues Up 81% year-over-year to $228M
- Rapid Adoption of Fibre Channel Product; over 10% of Fourth Quarter Deals
- New Customer Acquisition at Very Strong Pace with Record Average Deal Sizes
- Record Pace of Customer Acquisition of Global 5000 Enterprises and Cloud Service Providers in the Fourth Quarter
- Achieved Free Cash Flow Break Even in Fourth Quarter with Positive Operating Cash Flow for Fourth Quarter and for Fiscal Year 2015
"Our pace of innovation has further extended our technology leadership over established and emerging competitors, positioning us well as a leading contender in the minds of customers and channel partners that are looking for alternatives to legacy storage infrastructure," said Suresh Vasudevan, chief executive officer, Nimble Storage. "As we look back on fiscal year 2015 and Q4 of 2015 in particular, we are convinced that we are now reaching an inflection point as enterprises of all sizes and service providers are concluding that the economic benefits of a modern architecture justify the risks of moving away from long-standing incumbent vendor relationships. We see this as the beginning of a secular share shift that presents a massive growth opportunity for us over the next several years."
"FY15 was a year of very strong financial execution. We achieved revenue of $227.7 million, up 81% from FY14. We had our highest ever share of bookings from deals over $100K and deals over $250K in Q4FY15, which drove further increases in average deal sizes from already record levels in Q3FY15. We saw an improvement in Gross and Operating Margins during FY15 as a result of economies of scale, the efficiencies of our Adaptive Flash platform, and increased operating leverage," said Anup Singh, chief financial officer. "Cash flow from operations increased by $12.1 million, from negative $6.7 million in FY14 to positive $5.4 million in FY15. During the fourth quarter, we generated positive free cash flow for the first time in our history and remain on track to achieve profitability on a non-GAAP basis by the end of FY16." |
