Nimble Storage (NMBL) Posts Lower-than-Expected Q2 Loss
Shares of #NimbleStorage, Inc. NMBL were up nearly 2% yesterday following strong second quarter fiscal 2017 results. Nimble Storage reported second quarter loss of 47 cents a share that was narrower than the Zacks Consensus Estimate of a loss of 49 cents. Nimble reported non-GAAP loss (excluding stock based compensation) per share of 19 cents compared with a loss of 10 cents reported in the year-ago quarter.
The company added 133 AFA customers of which 79 customers came “with deal sizes substantially above our overall average.” Overall, the company added 700 new customers in the quarter, up 43% year over year, taking the total customer base to 8,850 customers.
The company’s revenues from products increased 16.3% to $77.7 million in the quarter, while the same from support and services business improved a robust 46% to $19.5 million.
The company’s gross margin (non-GAAP) was 67%, a decrease of 80 basis points (bps) from the year-ago quarter. Non GAAP operating loss widened to $15.5 million compared with $7.2 million reported in the prior-year quarter.
Nimble Storage exited the quarter with cash and cash equivalents of $194.2 million, compared with $211.2 million as of Jan 31, 2016.