Investor Presentation

Transcription

1 Investor Presentation Suresh Vasudevan, Chief Executive Officer Anup Singh, Chief Financial Officer November 25, 2014

2 Safe Harbor This presentation and the accompanying oral presentation contain forward-looking statements that are based on our management s beliefs and assumptions and on information currently available to management. We intend for such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the U.S. Private Securities Litigation Reform Act of Forward-looking statements include all statements other than statements of historical fact contained in this presentation, including information concerning our financial outlook, business plans and objectives, potential growth opportunities, competitive position, industry environment and potential market opportunities. Forward-looking statements are subject to known and unknown risks, uncertainties, assumptions and other factors including, but not limited to, those related to our future financial performance, market acceptance of our solutions, our ability to increase sales of our solutions, including to attract and retain customers and to selling additional solutions to our existing customers, our ability to develop new solutions and bring them to market in a timely manner, pricing pressure (as a result of competition or otherwise), our ability to maintain, protect and enhance our brand and intellectual property, global economic conditions and our ability to continue to expand our business and manage our growth. Moreover, we operate in very competitive and rapidly changing environments, and new risks may emerge from time to time. It is not possible for our management to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements we may make. Further information on these and other factors that could affect our financial results are included in our filings we make with the Securities and Exchange Commission, and may cause our actual results, performance or achievements to differ materially and adversely from those anticipated or implied by our forward-looking statements. You should not rely upon forward-looking statements as predictions of future events. Although our management believes that the expectations reflected in our forward-looking statements are reasonable, we cannot guarantee that the future results, levels of activity, performance or events and circumstances described in the forward-looking statements will be achieved or occur. Moreover, neither we, nor any other person, assume responsibility for the accuracy and completeness of the forward-looking statements. We undertake no obligation to publicly update any forward-looking statements for any reason after the date of this presentation to conform these statements to actual results or to changes in our expectations, except as required by law. In addition to GAAP financial information, this presentation includes certain non-gaap financial measures. The non-gaap measures have limitations and you should not consider them in isolation or as a substitute for our GAAP financial information. There are limitations to the use of non-gaap measures. For example, bookings and free cash flow are not substitutes for revenues or cash provided by operations. In addition, non-gaap operating expenses exclude the impact of stock-based compensation expense, which is a recurring expense for us. See the Appendix for a reconciliation of these non-gaap financial measures to their nearest GAAP equivalent. 2

3 Overview

4 Customer Challenges Scaling and Simplifying Storage Management Exacerbating Trends Virtualization Cloud Computing Mobility Big Data Social and Collaboration Poor Application Performance Increasing Demands of Data Growth VM / Application Data Management Complexity Compute Network Storage 20X 10X Same %* CAGR CRM ERP ERP CRM *Source: IDC, The Digital Universe in 2020, sponsored by EMC 4

5 Founding Thesis 1980s DAS Networked Storage Today 2013 TAM: ~$40B Flash Cloud Connectivity Opportunity for a ground-up redesign of storage 5

6 Strong Market Adoption CASL Flash-optimized file system software Nimble Adaptive Flash Platform InfoSight Cloud-based management/support Cumulative Customer Base Diversified Workloads Diversified Verticals 4,319 2, Q3FY13 Q3FY14 Q3FY15 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% Legal Energy Other Mfg. 3% 4% 8% 24% 8% State/Local Government 8% Healthcare 13% 11% Financial 12% Service Providers 10% Hi-Tech Education 6

7 Our Value Proposition Nimble Adaptive Flash Platform CASL Flash-optimized file system software InfoSight Cloud-based management/support Efficiency Scale-to-Fit Integrated Protection Ease of Operations Significantly better performance/$ and capacity/$ Non-disruptive, flexible scaling to massive scale Rapid backup and recovery Predictive support and operational simplicity 7

8 Compelling Value Proposition Fortune 500 Engineering & Construction Company Challenges 80% physical servers; EMC & NetApp SAN Struggled with performance for Autonomy e-discovery & Oracle data warehouse Application backups taking over 10 hours Competitor Solution Performance up by 2X, despite using virtual servers Data reduction of 2.3X lowers $/GB substantially Snapshots -based backup eliminated backup window Replication for DR Nimble Advantage Power, cooling and space costs lower by $3,500/month Pre-Nimble Environment Primary SAN: 2 Racks Daily backup to tape 6U! 110TB with 2.3X data reduction 30 days of snapshots Prod (Houston) Nimble SmartStack Replication DR (Austin) DR with 90 days of replicated snapshots 8

9 Compelling Value Proposition Global Office Products Company Challenges Competitor Solution Nimble Solution 3 Racks of Tier 1 storage 2 CS 460 arrays SQL Server, SAP applications and other VMs using traditional Tier 1 Storage Core project drivers: Minimize data center costs like power, cooling Reduce storage capacity costs Reduce complexity 40TB Usable Storage in 126U Replaced With 59TB Usable Storage in 6U Nimble has given us much more flexibility with primary storage and data protection and a much more resilient infrastructure all at a much lower cost. IT Platform Lead 9X Reduction in Storage Costs 20X Reduction Footprint 50% Savings in Data Protection Costs Zero Impact to Performance 9

10 Rapid Growth Across All Customer Segments Mid Size Enterprise Customers Number of Mid Size Enterprise Customers Large Enterprise Customers* Number of Large Enterprises Cloud Service Provider Customers Number of Cloud Service Providers 3, , Q3FY13 Q3FY14 Q3FY15 Mid Size Enterprise Repeat Bookings 1.8X 1X Q3FY13 Q3FY14 Q3FY15 Large Enterprise Repeat Bookings 3.4X 1X Q3FY13 Q3FY14 Q3FY15 Cloud Service Provider Repeat Bookings 3.3X 1X Initial Sale Total: Year 1 and 2 Initial Sale Total: Year 1 and 2 Initial Sale Total: Year 1 and 2 *Company estimates of Global 5,000 customers 10

11 Global Presence International Expansion % International Bookings International North America 19% 12 months thru Q3FY15 81% International Bookings Growth +139 % TTM Q3FY14 TTM Q3FY15 Australia Belgium Canada China Denmark France Germany Hong Kong Israel Japan Netherlands New Zealand Singapore Sweden Switzerland S. Korea Taiwan UK 11

12 Nimble Storage Converged Infrastructure Solutions & Ecosystem VDI Applications Database Private Cloud SmartStack Converged Infrastructure Hypervisor Servers and Network Infrastructure Data Protection UCS & UCS Manager Cisco Network Switches Nimble Storage CS-Series 12

13 Nimble Storage Technology

14 Flash and Disk are Complementary Component Flash Disk Random IO/$ 100X 1X Sequential IO/$ 1X 3X Capacity/$ 1X 12X Write Endurance Poor Proven Need for Performance Varies Greatly Analytics VDI OLTP File Services Core design principles: Efficiency: Leverage flash and disk for their complementary characteristics Flexibility: Adapt to workloads, and as the merits of flash and disk evolve over time Low High 14

15 Flash Requires a Ground-Up Design Incumbent Key Decisions Response in Ground-Up Design Application Integration Data Management Compression Snapshots Thin provisioning Replication Others File System Software How do we: Leverage flash for performance, while overcoming endurance concerns? Leverage disk Tiering for capacity? Be media-agnostic and flexible as the merits of flash and disk evolve? Leapfrog incumbents on data management? Flash Arrays for High Performance 15

16 CASL: A Breakthrough File System Traditional File Systems / Tiering CASL Innovations Nimble Advantage Fixed blocks: No compression Inline Compression, using variable blocks Uses 30-70% less disk and flash resources Fast random writes need a flash tier Inline Serialization of all incoming write IO Uses low-cost HDDs to deliver SSD-like write performance Fast reads by migrating between tiers wastes flash More Flash More Disk Dynamic Caching to serve reads from flash SSD (Flash) Cache Disk Uses substantially less, lowcost flash to accelerate reads Copy-based snapshots waste capacity and degrade performance Pointer-Based Snapshots Integrated, rapid backup and recovery Scale-Up OR Limited Scale-Out Scale-to-Fit: Scale-up, deep and scale-out Non-disruptive scaling in least-cost increments CASL is more performance and capacity efficient and easy to scale, while delivering integrated data protection 16

17 Traditional Storage Management is Inefficient and Expensive 20% Upfront Capital Expenditure Total Cost of Ownership 80% Data protection Storage Management 17

18 Transformation in Data Protection Model D2D + Replication Snapshots + Replication Primary Backup Disaster Recovery Tier 3 (+Dedupe) No backup window Rapid local recovery Cost-effective, simple DR No Tapes 18

19 Complementing Data Protection: Provisioning and Managing Copies D2D + Replication Snapshots + Replication Primary Backup Disaster Recovery Tier 3 (+Dedupe) No backup window Rapid local recovery Cost-effective, simple DR Spaceefficient clones Instantaneous zero-copy clones (e.g., for test and dev instances) 19

20 Traditional Storage Management is Inefficient and Expensive #! #!??? #! #! #! Vendor In a connected world why can t vendors proactively monitor customer deployed systems? With modern data analytics tools can vendors predict and prevent problems before they occur? 20

21 InfoSight: Cloud-Based Management Nimble Approach Customer Benefits Comprehensive Telemetry Proactive Wellness Analysis and Automation Storage Management SaaS Offering Community Learning Leveraging pervasive network connectivity and big data analytics to automate support and enable cloud-based management 21

22 InfoSight Impact Proactive Support Prevents Problems * Predicting Customers Storage Expansion Needs * 92 % of the cases automatically opened by Nimble % of support cases auto-closed by Nimble customers expanded capacity customers expanded flash customers upgraded controllers * InfoSight case percentages and customer storage expansion needs based on 12 month period through Q3FY15 22

23 Market Landscape and Our Opportunity Industry Server Flash All Flash Arrays Pure, SolidFire XtremIO Hybrid / Disk Arrays EMC VNX NetApp FAS HP 3PAR Dell EQL/CML Real Time Analytics Workloads Performance Intensive Mainstream Applications Cheap and Deep High-Performance Computing Nimble Storage Adaptive Flash Platform Oracle / Sql VDI SAP VMware Server Flash Vertica Mongo DB Exchange SharePoint Archival Archival 23

24 Financial Overview

25 Financial Highlights Strong revenue growth with a significant land and expand opportunity Attractive and best-in-class gross margin profile Investments to expand differentiation and capitalize on large market opportunity Improving operating leverage and cash flow margins Attractive long term financial model 25

26 Rapid Revenue Growth Annual and YTD Revenue * $159.4 Quarterly Revenue $ 59.1 $ % $ 46.5 $ % $84.0 $ 28.5 $ 33.4 $ 41.7 $53.8 $ 20.2 $ 22.1 $ 14.6 $14.0 FY12 FY13 FY14 YTD FY14 YTD FY15 Product Revenue Support and Service Revenue *Fiscal year ends on January 31 Q3FY13 Q4FY13 Q1FY14 Q2FY14 Q3FY14 Q4FY14 Q1FY15 Q2FY15 Q3FY15 Product Revenue Support and Service Revenue 26

27 Growth Drivers: New Customers, Large Deals, International & Repeat Business New Customers & Large Deals International Expansion Repeat Business Cumulative Customer Base % International Bookings % New vs. Existing Customer Bookings 4,319 International 19% Existing customers 2, Q3FY13 Q3FY14 Q3FY15 North America 12 months thru Q3FY15 81% New customers 31 % 69% % Bookings > $100K International Bookings Bookings >$100k Bookings <$100k +139 % 12months thru Q3FY14 37% 38% 63% 62% 12 months thru Q3FY15 12 months thru Q3FY15 TTM Q3FY14 TTM Q3FY15 27

28 Best-in-Class Gross Margins Quarterly Gross Margin * Product and Support and Service Gross Margin * 69.0% 68.9% 66.4% 67.2% 66.2% 67.4% 67.1% 44.9% 56.0% Q3FY14 Q4FY14 Q1FY15 Q2FY15 Q3FY15 Q3FY14 Q3FY15 *Reflects Non-GAAP Gross Margin; see slide 32 for reconciliation Product Gross Margin Support and Service Gross Margin 28

29 Improving EBITDA, Operating And Cash Flow Margins Improving EBITDA & Operating Margin * FY13 FY14 YTD FY14 YTD FY15 Cash Flow From Operations, Cash Burn and Free Cash Flow % of Revenue ** Q4FY13 Q1FY14 Q2FY14 Q3FY14 Q4FY14 Q1FY15 Q2FY15 Q3FY15-23% -16% -19% v -1% -11% -27% -26% -29% -19% -23% -19% EBITDA Margin Operating Margin -26% -45% -47% Operating Cash Flow as % of Total Revenue Cash Burn as % of Total Revenue Free Cash Flow as % of Total Revenue * Reflects Non-GAAP Operating Margin, which excludes stock based compensation expense. See slide 32 for reconciliation ** Free cash flow is defined as net cash from operating activities minus capital expenditures 29

30 Target Operating Model FY13 FY14 Q3 FY15 How We Get There Long-Term Model Gross Margin * 62% 65% 67.1% Currently operating above target model 63% 65% R&D as % of Revenue * 28% 26% 26% Leverage from investments we have made in our rich product roadmap 11% 13% S&M as % of Revenue * 72% 57% 50% Continuously improving leverage from channel partners, ramp of sales teams to mature quota carrying levels, continued increase in repeat business from existing customer base 28% 31% G&A as % of Revenue * 9% 9% 8% Continuous efficiency and economies of scale 5% 6% Non-GAAP Operating -47% -27% -16% 16% 20% Margin *Reflects Non-GAAP Gross Margin, R&D, S&M, G&A and Operating Margin, see slide 32 for reconciliation Note: due to rounding, numbers presented above may not sum to total. 30

31 Our Strategic Priorities Customers Continue expansion into large enterprise and service provider customers Technology Platform Build on our broad technology foundation to further extend our differentiation and broaden feature coverage to address every workload in the enterprise Sales and Marketing Invest aggressively to deepen sales coverage within existing territories, expand internationally, and drive continued channel leverage People Build best-in-class company founded on recruiting and retaining the industry s best talent 31

32 GAAP to Non-GAAP Reconciliation ($ in thousands) FY12 FY13 FY14 Q3FY13 Q4FY13 Q1FY14 Q2FY14 Q3FY14 Q4FY14 Q1FY15 Q2FY15 Q3FY15 YTD Q3'FY14 YTD Q3'FY15 GAAP Product Gross Profit 7,880 32,499 76,581 8,624 12,218 13,151 17,240 20,564 25,626 28,224 32,326 34,716 50,955 95,266 % GAAP Product Gross Margin 60.1% 65.3% 67.9% 64.3% 65.6% 65.6% 67.0% 68.8% 69.0% 68.4% 68.6% 67.9% 67.4% 68.3% (+) Stock-based Compensation ,091 Non-GAAP Product Gross Profit 7,890 32,547 76,813 8,635 12,247 13,191 17,278 20,616 25,728 28,455 32,700 35,202 51,085 96,357 Non-GAAP Product Gross Margin 60.2% 65.4% 68.1% 64.4% 65.7% 65.8% 67.2% 69.0% 69.2% 69.0% 69.4% 68.9% 67.5% 69.1% GAAP Support and Service Gross Profit (145) 891 4, ,458 2,113 1,988 2,919 3,716 2,828 8,623 % GAAP Support and Service Gross Margin -16.1% 21.9% 38.2% 27.2% 12.6% 20.7% 34.1% 41.3% 46.4% 37.4% 44.0% 46.6% 33.8% 43.3% (+) Stock-based Compensation ,735 Non-GAAP Support and Service Gross Profit (114) 1,005 5, ,028 1,585 2,323 2,381 3,512 4,465 3,086 10,358 Non-GAAP Support and Service Gross Margin -12.7% 24.7% 41.9% 30.0% 14.9% 22.8% 37.3% 44.9% 51.0% 44.8% 52.9% 56.0% 36.9% 52.0% GAAP Gross Profit 7,735 33,390 81,522 8,936 12,413 13,581 18,180 22,022 27,739 30,212 35,245 38,432 53, ,889 % GAAP Gross Margin 55.2% 62.0% 64.8% 61.4% 61.5% 61.4% 63.8% 65.9% 66.5% 64.9% 65.6% 65.0% 64.0% 65.2% (+) Stock-based Compensation , ,826 Non-GAAP Gross Profit 7,776 33,552 82,222 8,978 12,479 13,664 18,306 22,201 28,051 30,836 36,212 39,667 54, ,715 % Non-GAAP Gross Margin 55.5% 62.3% 65.4% 61.7% 61.8% 61.8% 64.3% 66.4% 67.2% 66.2% 67.4% 67.1% 64.5% 66.9% GAAP Research and Development 7,903 16,135 35,247 4,300 5,120 6,318 8,058 9,361 11,510 14,217 17,417 19,679 23,737 51,313 (-) Stock-based Compensation , ,354 2,440 3,692 4,595 1,695 10,727 Non-GAAP Research and Development 7,635 15,261 32,198 4,069 4,825 5,951 7,511 8,580 10,156 11,777 13,725 15,084 22,042 40,586 GAAP Sales and Marketing 12,863 39,851 75,107 10,494 15,489 14,160 17,268 19,902 23,777 29,202 36,639 36,994 51, ,835 (-) Stock-based Compensation 244 1,029 3, ,703 4,921 8,664 7,575 1,971 21,160 Non-GAAP Sales and Marketing 12,619 38,822 71,433 10,219 15,132 13,662 16,645 19,052 22,074 24,281 27,975 29,419 49,359 81,675 GAAP General and Administrative 3,756 5,168 13,737 1,240 1,930 2,301 3,041 3,130 5,265 6,437 7,101 8,887 8,472 22,425 (-) Stock-based Compensation , ,572 1,846 4, ,419 Non-GAAP General and Administrative 3,489 4,629 12,011 1,101 1,766 2,094 2,710 2,675 4,532 4,865 5,255 4,886 7,479 15,006 GAAP Operating Expenses 24,522 61, ,091 16,034 22,539 22,779 28,367 32,393 40,552 49,856 61,157 65,560 83, ,573 (-) Stock-based Compensation 779 2,442 8, ,072 1,501 2,086 3,790 8,933 14,202 16,171 4,659 39,306 Non-GAAP Operating Expenses 23,743 58, ,642 15,389 21,723 21,707 26,866 30,307 36,762 40,923 46,955 49,389 78, ,267 GAAP Operating Loss (16,787) (27,764) (42,569) (7,098) (10,126) (9,198) (10,187) (10,371) (12,813) (19,644) (25,912) (27,128) (29,756) (72,684) % of Revenue -120% -52% -34% -49% -50% -42% -36% -31% -31% -42% -48% -46% -35% -46% (+) Stock-based Compensation 820 2,604 9, ,155 1,627 2,265 4,102 9,557 15,169 17,406 5,047 42,132 Non-GAAP Operating Loss (15,967) (25,160) (33,420) (6,411) (9,244) (8,043) (8,560) (8,106) (8,711) (10,087) (10,743) (9,722) (24,709) (30,552) % of Revenue -114% -47% -27% -44% -46% -36% -30% -24% -21% -22% -20% -16% -29% -19% Net Cash Provided by (Used in) Operating Activities (14,841) (18,754) (6,742) (5,115) (3,898) (4,876) (3,780) (271) 2, ,837 (6,522) (8,927) (3,233) % of Revenue % -35% -5% -35% -19% -22% -13% -1% 5% 1% 5% -11% -11% -2% (-) Property and Equipment, Net 1,303 3,954 13,613 1,202 1,424 1,884 1,542 4,726 5,461 3,728 4,179 4,933 8,152 12,840 Free Cash Flow (16,144) (22,708) (20,355) (6,317) (5,322) (6,760) (5,322) (4,997) (3,276) (3,276) (1,342) (11,455) (17,079) (16,073) % of Revenue % -42% -16% -43% -26% -31% -19% -15% -8% -7% -2% -19% -20% -10% 32

33 Customer Case Studies

34 Customer Case Study: Transforming Storage Efficiency at a Large Bank Challenges Competitor Hybrid Disk-Flash Solution VS. Nimble Nimble Advantage Storage costs were 30% of the capital budget Core project drivers: Performance scaling Storage budget Datacenter footprint 6 Racks Phase 1: Exchange ½ Rack 1.5x usable capacity and 50% lower capital costs 10x lower power and cooling costs Dramatically simpler storage management 3 Racks Phase 2: SQL Databases ¾ Rack 2.5x performance and 2x usable capacity at much lower capital costs 75% lower power and cooling costs Dramatically simpler storage management 34

35 Customer Case Study: Consolidation and Efficiency at Global Oil & Gas Leader Challenges Nimble VDI Solution Nimble Expanded Use Cases Global Energy leader with hundreds of remote sites Initial VDI project goal to consolidate thousands of employee desktops at hundreds of field locations XenDesktop deployment with incumbent storage experienced serious performance issues, prompting a competitive bake-off with Nimble 3000 VDI users 64TB and 30K IOPS on average Price-performance: 72% lower cost per IOPS Cost of capacity: 37% compression, coupled with low-cost, Nearline HDDs 50% lower recovery time for virtual PCs Calls to help desk reduced dramatically Phase 2: Exchange 11,500 mailboxes ~60TB used HA across two data centers Phase 3: ESX Farm 600 VMs Over 200 TBs across three data centers 35

36 Customer Case Study: Fortune 50 Telecommunications Company Challenges Nimble Solution Nimble Advantage Storage challenges in meeting the needs of a highperformance Vertica cluster - Constant trade-off between IO and capacity - Adding nodes to support storage was not cost effective - Lack of consolidated provisioning and management - Data protection difficult for separate storage pools Vertica cluster processing Billions of events / hour 170TB capacity Hourly snapshots for data protection Reduced cost by reducing the number of required HP Vertica nodes - Performance to meet the IO needs of the analytics workload - Scale-to-fit architecture allows for separately scaling IO or capacity Consolidated storage management Nimble snapshots, clones and replication improve data protection and eliminate risk 36

37 Customer Case Study: Global Managed Services Firm Situation Challenges Nimble Solution Global firm with over 19,000 professionals Managed Services focused on delivering hosted Microsoft Applications EMC storage deployed as core storage platform EMC VNX 7500 for 10,000 Exchange users Goals from an alternative solution: Lower capital costs Small foot-print to lower monthly data center costs of $14,000 Faster backup and recovery, to avoid traditional backup challenges Scalable platform for expansion 6U of Nimble storage replaced 2 racks of EMC Nimble Advantage: Much lower capital costs Data center and rack space cost savings of ~ $10,500/ month Compression of 1.5X Snapshots for backup and recovery Non-disruptive upgrades 37

38 Customer Case Study: Leading Cloud Services Provider Challenges Nimble SmartStack Nimble Advantage Service Provider with presence across the US Core drivers: Datacenter consolidation Rapid provisioning Performance scaling Large Telecom customer with scaling challenges prompted POC 10G iscsi 10G UCS VMWare + Cisco + Nimble Much higher performance at substantially lower capital costs: Compression savings of 50% site-wide High-density HDDs and more effective use of flash optimize both performance and capacity Much simpler management and faster on-boarding time Current environment comprises over 600 TB (pre-compression) hosting over 6000 VMs for hundreds of customers and a variety of workloads 38

39 Transforming Data Protection at a Global Consulting Firm Rethinking infrastructure at all of their 11 sites Challenges Aging storage infrastructure in their main data centers: Boston and Chicago Nimble Approach Inadequate data protection in 9 remote sites: Tapes for backup Offsite tape copies for disaster recovery Nimble chosen as the platform for all 11 sites Each site protected with hourly snapshots for rapid recovery Data replicated between offices for cost-effective and simple DR Significant savings on storage and bandwidth 9 Remote Sites Boston Data Center Chicago Data Center 39

40 BlueTie Leading SaaS Provider Hosting 800,000 mailboxes on Nimble Challenges Legacy Solution Nimble Solution ¼ Rack of SAN storage Aging $1.5M NAS solution nearing end of life Maintenance > $60K per year 3 ½ racks of storage leading to escalating power, cooling and rack space costs Replaced With Seamless transition from 3 ½ Racks of NAS storage NAS to SAN ¼ Rack of SAN storage Massive reduction in power, cooling and rack space costs Higher performance across 800,000 mailboxes TCO: Capital cost of Nimble with 5 years of maintenance cost less than two years of maintenance of previous solution 40

41 Wynit, a leading national brand product distributor chooses SmartStack Challenges EMC SAN could not support new applications, including VDI and ERP. Desktop management was complex and time consuming. No offsite business continuance solution in place. Nimble Approach Nimble SmartStack : Cisco UCS VDI and VMs ERP VDI and VMs ERP 12X reduction in footprint VMware Nimble arrays Exchange Exchange 20X better performance Workloads VMs, VDI ERP Replication 1/3 the cost 5 years of capacity MS Exchange Production Site DR Site 41

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