secwatch.observer — SEC 8-K summary
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Issuer:     Nutanix, Inc. (NTNX)
CIK:        0001618732
Form:       8-K/A
Filed at:   2023-06-02T23:59:59+00:00
Accession:  0001157523-23-000933
Event type: other_material
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Nutanix corrects Q3 earnings, discloses material weakness from software non-compliance, $11M estimated liability
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- Corrected $10.2M RSU tax withholding error; reduces Q3 operating expenses by $9.3M, cost of revenue by $0.9M.
- Audit committee investigation found non-compliant use of evaluation software from two vendors; material weakness in internal controls.
- Recorded cumulative $11M estimated expense for past non-compliant usage; ongoing annual impact low-single-digit millions.
- Corrected Q3 FY2023: revenue $448.6M (+11% YoY), ACV billings $239.8M (+17%), non-GAAP operating income $17.2M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1618732/000115752323000933/0001157523-23-000933-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1618732/000115752323000933/a53412748.htm
  HTML page:      https://secwatch.observer/filing/0001157523-23-000933

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