Nimble Storage has had a rough go of it lately. Their third quarter earnings were below expectations, which pulled down its stock price and didn’t do any favors to other tech stock prices such as Pure Storage’s. Then last month Nimble was hit with a series of class action lawsuits around their poor stock performance. Nimble released their fourth quarter earnings today and fell in line with analyst estimates both in earnings per share (EPS) and Nimble’s revenue also beat analyst expectations.
Nimble Storage has had a rough go of it lately. Their third quarter earnings were below expectations, which pulled down its stock price and didn’t do any favors to other tech stock prices such as Pure Storage’s. Then last month Nimble was hit with a series of class action lawsuits around their poor stock performance. Nimble released their fourth quarter earnings today and fell in line with analyst estimates both in earnings per share (EPS) and Nimble’s revenue also beat analyst expectations.
Image courtesy of Yahoo Finance
While hitting expectations or coming in above is good news, Nimble is still reporting a loss. The adjusted loss is $0.12/share, which is what analysts were expecting. The loss for the year was $120.1 million or $1.52/share. Analysts were expected a quarterly revenue of $88.4 million and Nimble was most likely happy to report a revenue of $90.1 million. Their revenue was up 42% from this same time last year, now being $322.2 million versus $227.7 Million. Though the news wasn’t as bad as it was expected to be last quarter, after hours trading showed Nimble’s stock taking a dramatic drop from $8.25 to $7.20 before rebounding some.
Nimble is down but certainly not out. They have released their strategy for future revenue growth that revolves around acquiring new customers, driving repeat business, spreading their customer base over a larger field, and going after larger transactions. Nimble is also projecting the next quarterly loss between $0.25-$0.27/share and revenue of $83-$86 million.
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