Nutanix (NTNX) Morgan Stanley Technology, Media & Telecom Conference 2026 summary

Core business and value proposition

• Provides a platform for modernizing infrastructure, enabling application and data management across on-prem, edge, and public clouds.

• Supports both traditional and modern cloud-native applications, with a focus on simplifying operations.

• Positioned to support emerging AI and agentic applications across hybrid environments.

Recent performance and supply chain dynamics

• Bookings remained strong in Q2, but revenue outlook was cut due to ongoing supply chain challenges affecting hardware availability.

• Customers are placing software orders to secure pricing and queue for hardware despite longer lead times.

• Internal expectations for full-year bookings have increased, but revenue recognition is delayed.

Customer flexibility and product evolution

• Offers customers choice of server platforms and now supports external storage, allowing use of existing hardware.

• Nutanix Cloud Clusters (NC2) enables running software on public cloud bare metal, increasing deployment options.

• Commercial mechanisms like future start dates for licenses help align with customer procurement cycles.