Welcome to our dedicated page for Pure Storage news (Ticker: PSTG), a resource for investors and traders seeking the latest updates and insights on Pure Storage stock.
Pure Storage, Inc. (NYSE: PSTG) is a pioneering IT company that revolutionizes data storage technology and services, aiding innovators worldwide. Headquartered in Santa Clara, California, Pure Storage provides cutting-edge data solutions designed for SaaS companies, cloud service providers, enterprises, and public sector customers. These solutions enable secure, real-time data delivery for mission-critical production, DevOps, and modern analytics across multi-cloud environments.
As one of the fastest-growing enterprise IT companies, Pure Storage allows customers to rapidly adopt next-generation technologies, including Artificial Intelligence (AI) and Machine Learning (ML), maximizing the value of their data for competitive gain. The company's offerings include a comprehensive range of subscription services, highlighted by Evergreen Storage subscriptions, Pure as-a-Service, Cloud Block Store, and Portworx. These services are enhanced by professional consulting for seamless installation and implementation.
Pure Storage's innovative data platform strategy is transforming the storage industry by unifying fragmented data environments into cohesive, efficient systems. This strategy ensures enterprises are prepared for AI, hybrid cloud, and modern application deployment, all while maintaining Flash reliability and performance at competitive price points.
Financially robust, Pure Storage reported strong growth in its fiscal year 2024, with significant contributions from its unique storage solutions and expanding subscription services. The company anticipates continued double-digit revenue growth in FY25, driven by their differentiated data storage platform and the success of their Evergreen and Portworx offerings.
Pure Storage's commitment to customer satisfaction is evident in their Satmetrix-certified NPS customer satisfaction score, ranking in the top one percent of B2B companies. This high satisfaction rate is a testament to their customer-first philosophy, further reflected in their strategic share repurchase programs and dedicated investor relations initiatives.
Environmental sustainability is a core value for Pure Storage. The company actively designs products and solutions that help customers reduce their carbon and energy footprints, striving to make a significant impact on reducing data center emissions globally.
With accolades such as being named a leader in the 2023 Gartner Magic Quadrant for both Primary Storage and Distributed File Systems & Object Storage, Pure Storage is a recognized leader in the industry. The company's forward-looking strategies and continuous innovation positions them as a key player in the evolving IT landscape, helping businesses navigate and leverage technological advancements effectively.
Pure Storage (NYSE: PSTG) and Kioxia have announced a strategic collaboration to develop advanced storage technology for hyperscale data centers. The partnership combines Pure Storage's data storage platform with Kioxia's QLC flash memory to address the limitations of traditional HDD-based storage solutions.
The collaboration aims to deliver three key benefits: increased performance through ultra-fast, low-latency capabilities for data-intensive workloads; improved cost efficiency with optimized storage costs and lower TCO; and reduced environmental impact through significantly lower energy consumption compared to traditional HDDs.
Pure Storage (NYSE: PSTG) reported strong Q3 FY2025 financial results, with revenue reaching $831.1 million, up 9% year-over-year. Subscription services revenue grew 22% to $376.4 million, with subscription ARR hitting $1.6 billion. The company achieved a significant milestone with an industry-first design win from a top-four hyperscaler for their DirectFlash technology.
Key financial metrics include a non-GAAP gross margin of 71.9%, operating income of $167.3 million, and operating margin of 20.1%. The company maintained a strong balance sheet with $1.6 billion in cash and equivalents, returning $182 million to stockholders through share repurchases. For Q4 FY25, Pure Storage projects revenue of $867M with 9.7% YoY growth.
Pure Storage (NYSE: PSTG) announced two major AI-focused innovations: the new Pure Storage GenAI Pod and the certification of FlashBlade//S500 with NVIDIA DGX SuperPOD. The GenAI Pod is a full-stack solution providing turnkey designs for simplified deployment of generative AI projects, expected to launch in first half of 2025. The solution includes partnerships with industry leaders like Arista, Cisco, KX, Meta, NVIDIA, Red Hat, SuperMicro, and WWT. Initial applications target drug discovery, trade research, and RAG frameworks. The FlashBlade//S500 certification aims to accelerate enterprise AI training with high-performance Ethernet-based storage.
Pure Storage (NYSE: PSTG) announced a strategic investment and partnership with CoreWeave, making Pure Storage's platform available within CoreWeave Cloud. The collaboration aims to accelerate AI cloud services innovation by combining Pure Storage's flash technology expertise with CoreWeave's specialized cloud environments.
The partnership offers customers access to Pure Storage's unified storage platform with 99.9999% reliability across file, object, and block storage, integrated into CoreWeave's AI supercomputer environments. This integration enables organizations to customize their storage solutions and scale infrastructure according to their AI workload requirements.
Pure Storage (NYSE: PSTG) has announced it will release its third quarter fiscal 2025 financial results, followed by a conference call on Tuesday, December 3 at 2:00 p.m. PT. The company will also participate in two upcoming investor conferences: the Wells Fargo 8th Annual TMT Summit on December 4, 2024, and the 27th Annual Needham Growth Conference on January 16, 2025. Both events will be webcast live and archived on Pure Storage's Investor Relations website.
Pure Storage (NYSE: PSTG) has announced Pure Storage Cloud for Microsoft Azure VMware Solution (AVS), a pioneering fully-managed block storage-as-a-service offering for AVS. This Azure Native integration service allows customers to use services against existing Microsoft Azure Consumption Commitments while providing seamless management across Azure Portal and Pure Storage environments.
The solution enables enterprises to migrate VMware workloads to Azure cloud with potential cost savings of up to 40%. Key features include support for VMware vSphere Storage APIs, improved cost efficiencies, enterprise-grade data resilience with Pure Storage SafeMode Snapshots, and reduced storage complexity through decoupled compute and storage.
Pure Storage has announced the modernization of AC Milan's IT infrastructure, enabling significant improvements in content production and AI capabilities. The football club implemented Pure Storage Platform to enhance fan engagement through its Media House and improve team performance through data analytics. Key achievements include 10x faster content production and delivery, reaching over 500 million global fans through enhanced digital experiences. The solution provides enhanced data security with ActiveDR™ and SafeMode™ Snapshots for ransomware protection. The platform also supports AI analysis of training footage and player data, contributing to a comprehensive data lake for performance optimization.
Pure Storage (NYSE: PSTG) has been named a Leader in the 2024 Gartner Magic Quadrant for File and Object Storage Platforms for the fourth consecutive year. The company's platform addresses the challenges of managing unstructured data in the era of AI, analytics, and IoT. Key features include:
1. Efficient and reliable platform with up to 5x less energy consumption and 95% less e-waste than disk-based systems.
2. Real-Time Enterprise File services for dynamic adaptation to modern application demands.
3. FlashBlade//S100, an AI-ready platform for entry-level enterprise use cases.
4. AI-powered anomaly detection for identifying threats and unusual activity.
5. Expanded cyber recovery and resilience SLA through Evergreen//One.
Pure Storage boasts a 4.7/5 rating on Gartner Peer Insights, with 96% of reviewers willing to recommend the platform.
Rubrik (NYSE: RBRK) and Pure Storage (NYSE: PSTG) have partnered to offer a comprehensive cyber resilience solution that combines primary storage, data security, and long-term retention. This partnership addresses challenges faced by organizations due to exponential data growth, including performance bottlenecks, lack of data visibility, and increasing cyber threats.
The solution provides a three-layered defense strategy:
- Rapid Recovery: Pure Storage Platform uses immutable snapshots for near-zero Recovery Time Objective
- Data Security: Rubrik Security Cloud offers a cyber resilience platform with additional capabilities
- Archival Location: Pure Storage Platform supports cost-effective, scalable storage for extended periods
This partnership aims to strengthen defenses and provide businesses with a robust, adaptive framework for true cyber resilience in an increasingly complex cybersecurity landscape.
Pure Storage (NYSE:PSTG) has announced new innovations to its storage platform, including Real-time Enterprise File, a dynamic file service that adapts in real-time to meet modern application demands. The company also introduced a VM assessment tool and Universal Credits, extending its Storage-as-a-Service (STaaS) leadership.
Key features of Real-time Enterprise File include:
- Real-time agility across all storage resources
- Zero-Move Tiering for performance adjustments without data movement
- Non-disruptive upgrades for hardware and software
- New FlashBlade//S100 for cost-sensitive workloads
- Cloud-like operations and AI Copilot for simplified management
The VM Assessment offers performance monitoring and optimization recommendations, while Universal Credits provide financial flexibility across various Pure Storage services.
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