Nutanix beats Q4 FY2026 targets with $757M revenue, eyes growth from external storage and AI by 2027

Nutanix reported strong Q4 FY2026 results, exceeding guidance with $757 million in revenue, 16% growth in annual recurring revenue to $2.54 billion, and $841 million in free cash flow. The company is expanding its market through partnerships in external storage, which management expects to be the largest growth driver by fiscal year 2027. Additionally, artificial intelligence presents a longer-term revenue opportunity. The stock is considered undervalued at a forward P/E of 29.17, supported by customer migration away from VMware and platform expansion.