Nutanix, Inc. (NASDAQ:NTNX) Q4 2023 Earnings Call Transcript

And our public convert, we pay 25 basis points on those, and they are not due for another few years. And so it made sense for us to think about that more holistically and sort of we believe that doing the share repurchase authorization is sort of the best use of our cash, given all of the other options available to us.

Nehal Chokshi: So, what’s your anticipation of the pace of utilization of that buyback authorization then?

Rukmini Sivaraman: We have not given a specific timeframe, Nehal, and authorization does not have an expiration date. And so the timing and amounts will depend on a variety of factors, as you can imagine, right, including just business conditions, stock prices and other factors and so I will leave that there.

Nehal Chokshi: Would it be fair to say that you want to return a certain percentage of free cash flow on a go-forward basis?

Rukmini Sivaraman: We are not giving out sort of a certain percentage at this point, Nehal. But we will just talk more generally about capital allocation and how we plan to use our cash at our Investor Day as well, right. So, I would be happy to sort of take more – we talk more about that then. But at this point, we are not committing to a specific percentage.

Nehal Chokshi: Okay. Great. Thank you and congrats.

Rukmini Sivaraman: Thank you.

Operator: Thank you. And I am showing no further questions. This concludes today’s conference call. Thank you for participating. You may now disconnect.