After a Pause, Nutanix Signals IPO Plans Are Back on Track

Nutanix, a supplier of storage products for data centers, just updated its paperwork with the U.S. Securities and Exchange Commission, signaling that its plans for an initial public offering may no longer be on hold.

The new filing shows that Nutanix, based in San Jose, Calif., nearly doubled its revenue in the six-month period ended Jan. 31, to $190 million from $102 million in the year-ago period. It ran a net loss of nearly $72 million, which increased from $56 million a year ago. Operating expenses rose to $190 million from $112 million previously.

The company first filed for an IPO in December, but was reported to have put those plans on hold in February after markets turned south. After the Dell-owned security company SecureWorks, which is expected to offer about 20 percent of its shares in an IPO later this month, Nutanix would appear to be on track to be the second tech IPO of 2016.

Led by CEO Dheeraj Pandey, a former Oracle and Teradata exec, Nutanix specializes in a combined server and storage system sometimes described by the wonky phrase “hyper-converged infrastructure.” It basically eliminates the need for a storage array to run data-center applications more flexibly. It also makes it easier to expand the size of a data center quickly. Its equipment is designed based on techniques that Google and Facebook use in their own data centers.

The company has raised more than $312 million from investors including Sapphire Ventures, the investment arm of the German enterprise software company SAP, Lightspeed Venture Partners, Battery Ventures, Khosla Ventures, Goldman Sachs, Morgan Stanley and Riverwood Capital.

Correction: We initially misstated Nutanix’s six-month revenue figures.

This article originally appeared on Recode.net.

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