Correct! It was a typo. Should read 34.1%. Apologies in advance, sometimes I type on my phone.
On a side note, found a few interesting tidbits in the 10k. Disclosure, I mostly skimmed, and some of this is in the investor presentations, but nonetheless interesting.
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“The number of end customers grew from over 7,000 as of July 31, 2017 to over 10,600 as of July 31, 2018.” That is 51% growth. In Q4 they added 1,000 new customers alone.
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“Additionally, end customers who have been with us for 18 months or longer have total lifetime orders, including the initial order, to date in an amount that is more than 4.1x greater, on average, than their initial order.”
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“Our product revenue during fiscal 2018 was also impacted by the reduction of hardware revenue from transactions where the hardware was not sold by us. We estimate that if we had sold the hardware in these transactions, our product revenue for the fiscal year ended July 31, 2018 would have been approximately $168.9 million higher.” Meaning total revenue would have been $1,324, or 56.5% YOY growth (another way of looking at it, although probably best to use software billings or deferred revenue as a better measure).
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Likewise, “the number of our full-time employees increased from approximately 2,800 as of July 31, 2017 to approximately 4,000 as of July 31, 2018.”
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“We have significantly increased our sales and marketing personnel, which grew by approximately 42% from July 31, 2017 to July 31, 2018. We estimate, based on past experience, that sales team members typically become fully ramped up around the start of their fourth quarter of employment with us, and as our newer employees ramp up, we expect their increased productivity to contribute to our revenue growth. As of July 31, 2018 , we considered approximately 59% of our global sales team members to be fully ramped, while the remaining approximately 41% of our global sales team members are in the process of ramping up.”
All in all, more data points that NTNX is growing, and growing fast. There are not many companies at this scale that are growing this quickly…and all this doesn’t really speak to future growth of their new offerings.