Here Are Nutanix’s Most Highly Compensated Execs In 2023
Nutanix’s top four executives reported more than $31 million in total compensation in fiscal year 2023 in a year in whcih the company says it generated $1.56 billion in annual recurring revenue.
There are big moves happening at hyperconverged infrastructure all-star Nutanix, from its new partnership with Cisco Systems, its shift to cash-positive financials and stock buyback, as well as the market share it said it hopes to gain as customers look for VMware alternatives.
The company will hold a non-binding vote for shareholders on Dec. 8 that will determine whether Nutanix public owners will give their blessing to the $31.1 million in cash and stock that the board gave the greenlight to award its top four corporate officers.
Nutanix generated $207 million in free cash flow on the back of $1.5 billion in revenue in its fiscal year 2023. The San Jose, Calif.-based company underlined its confidence during its Aug. 30, 2023, year-end earnings call with an announced $350 million stock buyback.
The company’s new partnership with Cisco gives Nutanix reach into the networking giant’s customer base. Meanwhile, Broadcom’s move to purchase VMware has been providing a steady pipeline of concerned customers who are interested in how Nutanix stacks up versus the Palo Alto, Calif. virtualization powerhouse.
It’s adding up to what Nutanix CEO Rajiv Ramaswami called a “tailwind” that should propel the cloud infrastructure leader to $3 billion in revenue and $700 million to $900 million in free cash flow by 2027.
Even so, the company does have its challenges, including the fact that Nutanix is still losing money on a GAAP basis. In fiscal year 2023, the company reported a net loss of $254.6 million, down from a net loss of $1 billion two years before.
The named executive’s total compensation this year are weighted with more securities than cash.
The following is a list of Nutanix’s top compensated executives in fiscal year 2023.