To supplement our preliminary calculation of total revenue, which is prepared and presented in accordance with GAAP, this press release also contains information relating to preliminary software and support revenue (or TCV revenue) and preliminary software and support billings (or TCV billings), each of which are non-GAAP financial measures. We use these non-GAAP financial measures for financial and operational decision-making and as a means to evaluate period-to-period comparisons. Nutanix, Inc. announced financial results for the second quarter of fiscal 2020 ended January 31, 2020.
Nutanix, the Nutanix logo, and all Nutanix product and service names mentioned herein are registered trademarks or trademarks of Nutanix, Inc. in the United States and other countries. Nutanix does not control these sites and disclaims all responsibility for the content or accuracy of any external site. Nutanix executives will discuss the company’s third quarter fiscal 2020 financial results on a conference call at 4:30 p.m. Eastern Time/1:30 p.m. Pacific Time on Wednesday, May 27, 2020. “Thanks to the dedication, teamwork, and excellent customer service demonstrated by our employees and our partner community, we expect to meet our third quarter guidance for TCV billings and TCV revenue,” said Duston Williams, CFO of Nutanix. As we said we would in our last earnings call, we have been proactively and prudently managing expenses to help ensure the long-term health of our business during this pandemic.
Nutanix (NASDAQ: NTNX), a leader in enterprise cloud computing, today announced it has been named a Leader in The Forrester Wave™: Hyperconverged Infrastructure, Q3 2020, published by Forrester Research, Inc.The report evaluated 11 HCI vendors on Current Offering, Market Presence, and Strategy, and Nutanix was positioned as a leader with among the highest scores across these three … Subscription revenue, subscription billings, and professional services billings are performance measures that we believe provide useful information to our management and investors as they allow us to better track the growth of the subscription-based portion of our business, which is a critical part of our business plan. However, these non-GAAP financial measures have limitations as analytical tools and you should not consider them in isolation or as substitutes for analysis of our final results as reported under GAAP. Non-GAAP gross margin, non-GAAP operating expenses, non-GAAP net loss, and non-GAAP net loss per share are financial measures which we believe provide useful information to investors because they provide meaningful supplemental information regarding our performance and liquidity by excluding certain expenses and expenditures such as stock-based compensation expense that may not be indicative of our ongoing core business operating results.
The conference ID is 1473679. Similar to the preliminary, unaudited financial measures provided in this press release, the reconciliation provided in the below table is also preliminary and unaudited, and is subject to adjustment during our regular quarterly close process. We urge you to review the reconciliation of our preliminary non-GAAP financial measures to the most directly comparable preliminary GAAP financial measures included below in the table captioned “Reconciliation of Preliminary Software and Support Revenue (TCV Revenue) to Preliminary Software and Support Billings (TCV Billings),” and not to rely on any single financial measure to evaluate our business.