How Recent IPOs Have Fared In Their First Publicly Reported Quarters

Nutanix Inc NTNX shares were trading in the red, despite reporting a beat-and-raise quarter in its first quarterly report as a public company.

The enterprise cloud computing firm, which went public in late September, reported narrower-than-expected loss for the first quarter and guided second quarter above consensus.

But, shares were down more than 5 percent as Street estimates were modest, as is frequently the case with the debut quarter of a company. Further, the loss was wider than last year.

Following is a gist of Nutanix’s first-quarter results:

• Nutanix reports Q1 EPS $(0.37), beating estimates by $0.07.
• The $(0.37) number was wider than $(0.27) in the year-ago quarter.
• Revenues came in at $166.8 million, beating by $14.55 million.
• Nutanix is expecting Q2 EPS in the $(0.35)–(0.36) range, with estimated revenues at $175 million–180 million vs. $168.38 million consensus estimate.

Other Recent IPOs

Against this backdrop, let’s take a look at how recent IPOs have fared in their first quarterly report as a public company:

Shares of Acacia Communications, Inc. ACIA, which went public in May, have surged 41 percent following its strong second-quarter results in August, which was its debut quarter.

Camping World Holdings Inc CWH shares gained more than 9 percent after beating analyst estimates on earnings and revenue in the company’s third quarter, its first release as a public company. The company went public in October.

On the other hand, Valvoline Inc VVV’s debut quarter saw the company’s EPS missing estimates but sales topping the Street. On the news, shares plunged as much as 13 percent following its quarterly results issued in early November. Valvoline made its trading debut in September.

A Look Ahead

On the upcoming earnings front, Blackline Inc BL will provide its first quarterly report as a public company on Wednesday after the close. Blackline, a provider of cloud-based solutions for Finance & Accounting (F&A), went public in late October.

Coupa Software Inc COUP, which provides a cloud-based spend management platform, is set to report its debut quarterly numbers on December 5. Analysts expect earnings of $(0.49) and revenue of $31.24 million for the third quarter. The company went public in October.