Nimble higher after FQ1 beat, solid FQ2 guidance

|About: Nimble Storage, Inc. (NMBL)|By:, SA News Editor

In addition to beating FQ1 estimates, Nimble Storage (NYSE:NMBL) is guiding for FQ2 revenue of $77M-$79M, mostly above a $77.1M consensus. EPS guidance of -$0.11 to -$0.12 compares with a -$0.12 consensus.

542 new customers were added in FQ1, down from 650 in seasonally stronger FQ4 but up from 450 a year ago. Nimble, which has been trying to move upmarket with the help of its recently-launched Fibre Channel arrays, also claims to have more than doubled its bookings from enterprise and service provider clients.

Financials: Gross margin rose 40 bps Q/Q and 140 bps Y/Y to 67.6%. GAAP operating expenses rose 51% Y/Y to $75.4M (compares with 53% rev. growth) - sales/marketing spend totaled $44.4M, R&D $21.7M, and G&A $9.3M. Nimble ended FQ1 with $201.5M in cash, and no debt.

NMBL +1.6% AH to $25.80.

FQ1 results, PR

Subscribe for full text news in your inbox