Shares of Nutanix (NTNX - Get Report) were soaring Thursday after the cloud-computing software company posted better-than-expected fiscal fourth-quarter results.

The company posted an adjusted loss of 57 cents in its fiscal fourth quarter vs. a loss of 11 cents a year earlier. Wall Street analysts were expecting a loss of 64 centsa share.

Nutanix reported revenue of $300 million in the quarter, compared with $304 million a year ago, but beat analysts' expectations of $293 million.

Adjusted gross margins were 80% for the three-month period vs. 77.7% a year ago.

The company forecast it would post fiscal first-quarter revenue in the range $290 million to $300 million, with margins of around 80%.

"We delivered a solid fourth quarter and believe our performance reflects our execution improvements and the meaningful progress we have made transitioning our business to a subscription model," said Nutanix CEO Dheeraj Pandey in a statement.

Shares were rising 27.19% to $24.93 in trading Thursday.

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Constable owns none of the securities listed in this story.