Nutanix (NTNX) Revenue by Segment

Shows revenue by business line or product group—such as software subscriptions, support/services, appliances, or cloud offerings—helping investors see which parts of Nutanix drive growth and margins. Shifts between segments indicate strategy execution, margin pressure, or successful moves toward higher‑value, recurring software sales.

Product revenue has accelerated and now approaches parity with Support (recurring) revenue, reflecting large external‑storage, NC2 and AI deal momentum that is driving lumpy but higher‑value bookings. That shift can boost topline and gross margins, but it raises exposure to the server supply constraints, higher hardware prices and payment‑plan timing risks management warned about; FY27 guidance already bakes in delayed start dates and more payment flexibility. Services still provide the recurring backbone, so the key investor watch is whether Nutanix can convert product bookings without sustained supply‑driven revenue volatility.