Pure Storage Inc
NYSE:PSTG

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Pure Storage Inc
NYSE:PSTG
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Price: 71.2 USD 1.09% Market Closed
Market Cap: 23.4B USD

Pure Storage Inc
Investor Relations

Pure Storage Inc. emerged as a formidable force in the data storage industry, reshaping the landscape with its innovative approach to flash storage technology. The company was founded in 2009, with the mission to provide fast, reliable, and efficient data storage solutions. As opposed to traditional disk-based storage rivals, Pure Storage capitalized on the rapid advancements in flash memory, offering enterprise-grade storage solutions that drastically reduced latency and improved performance. By harnessing the power of solid-state drives (SSDs) and coupling them with sophisticated software to increase the efficiency of data handling, Pure Storage positioned itself as a trailblazer in the industry, providing businesses with the ability to manage large volumes of data more effectively and quickly.

The lifeblood of Pure Storage is its subscription-based business model, anchored in the sale and renewal of its cutting-edge FlashArray and FlashBlade products. These products are designed to cater to the growing demands of organizations for speed, agility, and scalability in managing data. Pure Storage integrates its offerings with cloud-based management and AI-driven predictive analytics, further enhancing its value proposition. This combination not only helps clients optimize their storage infrastructure but also ensures a sticky customer relationship, as businesses are encouraged to upgrade and expand their storage capacity within Pure's ecosystem. With a focus on innovation and customer-centric strategies, Pure Storage has successfully carved out a niche, consistently attracting enterprises looking for a modern approach to data storage in an increasingly data-driven world.

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Last Earnings Call
Fiscal Period
Q3 2026
Call Date
Dec 2, 2025
AI Summary
Q3 2026

Revenue Beat: Pure Storage reported Q3 revenue of $964 million, up 16% year-over-year, exceeding the high end of its guidance.

Strong Margins: Operating profit reached a record $196 million with a 20.3% margin, and total gross margin rose to 74.1%, driven by strong product mix and hyperscaler shipments.

Hyperscaler Momentum: The company surpassed its entire fiscal year forecast for hyperscaler shipments by the end of Q3 and expects continued momentum.

Raised Guidance: Full-year revenue and operating profit guidance for FY '26 were both increased, reflecting robust Q3 results and higher Q4 expectations.

Subscription Growth: Subscription services revenue was $430 million, up 14% year-over-year, accounting for 45% of total revenue.

AI and Cloud Expansion: Management highlighted strong demand for the Enterprise Data Cloud, continued AI-related growth, and the launch of Pure Storage Cloud for Azure.

Sustained Investment: The company plans to reinvest gains from hyperscaler revenue into R&D and sales to sustain growth, while maintaining margin expansion beyond FY '26.

Key Financials
Revenue
$964 million
Operating Profit
$196 million
Operating Margin
20.3%
Product Revenue
$534 million
Subscription Services Revenue
$430 million
Annual Recurring Revenue
$1.8 billion
Remaining Performance Obligations
$2.9 billion
Total Gross Margin
74.1%
Product Gross Margin
72.9%
Subscription Services Gross Margin
75.5%
Free Cash Flow
$53 million
Free Cash Flow Margin
5.5%
Operating Cash Flow
$116 million
Capital Investments
$63 million
Cash and Investments
$1.5 billion
Total New Customers Added
258
Fortune 500 Penetration
63%
Other Earnings Calls

Management

Mr. Charles H. Giancarlo
Chairman & CEO
No Bio Available
Mr. John Colgrove
Founder, Chief Visionary Officer & Director
No Bio Available
Mr. Kevan Krysler
Chief Financial Officer
No Bio Available
Mr. Ajay Singh
Chief Product Officer
No Bio Available
Mr. Dan FitzSimons
Chief Revenue Officer
No Bio Available
Mr. John M. Hayes
Founder & Advisor
No Bio Available
Mr. Matt Burr
Chief Operating Officer
No Bio Available
Ms. Mona Chu
VP & Chief Accounting Officer
No Bio Available
Mr. Robert Lee
VP & CTO
No Bio Available
Ms. Niki Armstrong J.D.
Chief Administrative & Legal Officer
No Bio Available

Contacts

Address
CALIFORNIA
Mountain View
650 Castro St Ste 400
Contacts
+18003797873.0
www.purestorage.com