MEDIUMOutside partyCustomer
39%
top two distributors
“10-K Item 1: 'Our top two distributors to our end customers represented 47%, 41% and 39% of our total revenue for fiscal 2024, 2025 and 2026, respectively'”
NTNX · Concentration risk · 10-K extracted
Nutanix (NTNX) concentration risks
Updated
The most significant concentration Nutanix discloses is top two distributors at 39%, classified MEDIUM by disclosed size. Below: the full set from the latest 10-K — verbatim quotes, filing references, and a synthesis of what these exposures mean together.
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Source: Nutanix’s SEC Form 10-K filed — view the filing on SEC EDGAR ↗
At a glance
Disclosed-size breakdown · 2 disclosed concentrations
HIGH0
MEDIUM2
LOW0
Disclosed concentrations
Each card carries a disclosed-size chip (HIGH / MEDIUM / LOW — how large the exposure is as a share of revenue, not how dangerous it is) and a nature tag: Built-in(the company’s own model, geography, or products) or Outside party (an external customer, supplier, or distributor it relies on).
MEDIUMOutside partySupplier
Super Micro Computer NX hardware manufacturing
“10-K Item 1: 'The Nutanix-branded NX series hardware platforms are manufactured by Super Micro Computer, Inc.'”
TrendMatrix Research · concentration synthesis
What these concentrations mean together
updated 2026-10-18Nutanix has a distribution-channel dependency that has been easing. Its top two distributors to end customers represented 39% of total revenue in the latest year, down from 41% a year earlier and 47% two years earlier. That is a medium-share dependency, and the downward drift is a mildly positive sign even though the channel remains concentrated in just two counterparties. The supply side is a separate, idiosyncratic dependency. The Nutanix-branded NX series hardware platforms are manufactured by Super Micro Computer, Inc., a medium-share dependency with no disclosed percentage. Because it covers one product family built by one named manufacturer, a disruption there would affect that hardware line directly, though the sources do not say how much revenue it carries. Netting these out, both exposures are dependencies and neither is a structural feature of the model. The distributor concentration is the larger quantified item, and its steady decline reduces how much it could move the verdict, while the Super Micro relationship remains the supplier-specific shock point.
For the engine’s reasoning on NTNX’s current verdict — including which dimensions drove the score — see the per-dimension breakdown.
Industry peers · Software - Infrastructure
Peer concentration profile
| Symbol | Name | HIGH | MEDIUM | LOW | Total |
|---|---|---|---|---|---|
| APPN | Appian Corporation | 2 | 2 | 0 | 4 |
| AI | C3.ai, Inc. | 1 | 2 | 0 | 3 |
| AEVA | Aeva Technologies, Inc. | 1 | 0 | 0 | 1 |
| NTNX● | Nutanix, Inc. | 0 | 2 | 0 | 2 |
| ACIW | ACI Worldwide, Inc. | 0 | 0 | 0 | 0 |
| AKAM | Akamai Technologies, Inc. | 0 | 0 | 0 | 0 |
Concentration counts reflect items disclosed in each peer’s most recent 10-K; disclosed-size classification uses TrendMatrix’s internal 10-K extraction taxonomy.