Nimble Storage (NMBL) saw its loss widen to $39.27 million, or $0.45 a share for the quarter ended Oct. 31, 2016. In the previous year period, the company reported a loss of $28.57 million, or $0.36 a share. On the other hand, adjusted net loss for the quarter widened to $15.67 million, or $0.18 a share from a loss of $11.04 million or $0.14 a share, a year ago.
Revenue during the quarter grew 26.40 percent to $102.04 million from $80.73 million in the previous year period. Gross margin for the quarter contracted 151 basis points over the previous year period to 63.75 percent. Operating margin for the quarter stood at negative 38.22 percent as compared to a negative 35.12 percent for the previous year period.
Operating loss for the quarter was $39 million, compared with an operating loss of $28.35 million in the previous year period.
However, the adjusted operating loss for the quarter stood at $15.40 million compared to operating loss of $10.82 million in prior year period.
"We executed well in Q3FY17, with strong momentum driven by All Flash arrays and growth in strategic customer segments. Our annualized AFA bookings run-rate is approximately $100M in just our second full quarter of shipping AFAs. Bookings from Large Enterprises grew 53% and Cloud Service Providers grew 65% over Q3FY16," said Suresh Vasudevan, chief executive officer. "The differentiation of our Predictive Flash platform is driving market-share gains and strong win-rates. A single architecture across All Flash and Adaptive Flash arrays is designed to accelerate every enterprise application. Our cloud-based predictive analytics delivers unmatched reliability and radically simplifies operations for customers."
For the fourth-quarter, Nimble Storage projects revenue to be in the range of $112 million to $115 million. The company projects adjusted operating loss to be in the range of $11 million to $13 million. On an adjusted basis, the company forecasts diluted loss per share to be in the range of $0.13 to $0.15.
Operating cash flow turns negativeNimble Storage has spent $23.68 million cash to meet operating activities during the nine month period as against cash inflow of $3.46 million in the last year period. The company has spent $19.41 million cash to meet investing activities during the nine month period as against cash outgo of $23.03 million in the last year period.
Cash flow from financing activities was $12.86 million for the nine month period, down 38.88 percent or $8.18 million, when compared with the last year period.
Cash and cash equivalents stood at stood at $180.74 million as at Oct. 31, 2016.
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