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) has unveiled its new fleet-level architecture, Evergreen//Flex, at the Pure//Accelerate® techfest22 in Los Angeles. This innovative system enhances storage efficiency by allowing enterprises to optimize stranded storage capacity, promoting flexibility and effective resource utilization. The expansion reinforces Pure's Evergreen portfolio, including Evergreen//Forever and Evergreen//One, which focus on subscription-based models to simplify data storage management. With over 10,000 non-disruptive upgrades to date, Pure emphasizes modern consumption-based storage solutions for organizations.
Pure Storage (NYSE: PSTG) has announced the launch of AIRI//S, a next-generation AI-ready infrastructure developed in collaboration with NVIDIA. This innovative platform simplifies and scales AI data pipelines, enabling enterprises to enhance their AI initiatives. AIRI//S features advanced performance, power efficiency, and scalability, supporting diverse workloads from startups to large organizations. With Evergreen models for flexible consumption, this solution addresses the common challenges of traditional AI infrastructures, driving faster insights and greater efficiency.
At Pure//Accelerate techfest22, Pure Storage (NYSE: PSTG) honored six customers with the Breakthrough Awards for their exceptional use of Pure's data storage technology. Companies like Barclays, Ford, and SiriusXM were recognized for innovation and success amidst global challenges, emphasizing sustainability. Notable achievements include SiriusXM's total migration to Pure's infrastructure, Barclays' 99.9999% storage uptime, and Ford's cloud-native strategies using Portworx. The awards highlight how Pure's offerings empower organizations to enhance performance and efficiency.
Pure Storage (PSTG) reported a remarkable 50% year-over-year revenue growth for its fiscal Q1 2023, totaling $620.4 million. Subscription services revenue rose by 35% to $219.2 million, while Subscription Annual Recurring Revenue (ARR) increased 29% to $899.8 million. The company raised its FY23 revenue outlook to $2.66 billion. Despite a GAAP operating loss of $(4.6) million, non-GAAP operating income reached $85.4 million. Pure also returned $66 million to stockholders in Q1 through share repurchases.
Pure Storage (NYSE: PSTG) announced advancements to its Portworx portfolio aimed at enhancing data services for DevOps teams. Key updates include the general availability of Portworx Data Services, the first Kubernetes Database-as-a-Service platform, and the next generation of Portworx Enterprise, a comprehensive data management solution for Kubernetes applications. Additionally, Portworx Backup-as-a-Service has been launched to simplify data protection for various Kubernetes services. These developments are expected to improve operational efficiency and support critical databases.
Pure Storage (NYSE: PSTG) has announced a conference call set for June 1, 2022, at 1:30 p.m. PT, to discuss its financial results for the first fiscal quarter ending May 8, 2022. This follows the upcoming release of their financial figures. The call will be accessible via the Pure Storage Investor Relations website, with a replay available for two weeks post-call. Additionally, Pure Storage will participate in several investor conferences, showcasing its commitment to transparency and investor engagement.
Pure Storage (NYSE: PSTG) and Snowflake (NYSE: SNOW) announced a partnership aimed at enhancing data accessibility for customers managing on-premises data. The solution combines Pure Storage FlashBlade's capabilities with the Snowflake Data Cloud, allowing users to analyze multiple data sources without creating separate data copies. This collaboration is expected to commence public preview in the second half of 2022, helping organizations leverage local data while utilizing advanced analytics and governance features from Snowflake.
Pure Storage (NYSE: PSTG) highlights its pivotal role in electronic design automation (EDA) for semiconductor companies, announcing that 50% of the top 10 semiconductor firms utilize its FlashBlade storage solution. This technology enhances chip design efficiency by delivering performance improvements of up to 5x faster workload completion through high concurrency capabilities. Additionally, customers experience 2.5:1 data reduction and significant reductions in runtime for complex tasks. The company emphasizes its commitment to driving innovation across the semiconductor industry.
Pure Storage (NYSE: PSTG) announced that over 10 leading autonomous vehicle software development companies are utilizing its FlashBlade platform to meet the demands of storing and processing unstructured data. FlashBlade enhances performance while simplifying IT operations, driving efficiency and reducing costs. Companies are employing this technology for various applications, such as training automated vehicle systems and managing critical engineering data. This collaboration marks a significant milestone as Pure's presence in the autonomous vehicle sector reaches an all-time high.
Pure Storage (NYSE: PSTG) has released its inaugural Environmental, Social, and Governance (ESG) report, detailing its benchmarks and future goals for sustainability. The report emphasizes Pure's commitment to reducing data center carbon emissions, with customers potentially achieving up to 80% reduction in direct carbon usage through its products. Key goals include a 50% reduction in Scope 1 and 2 greenhouse gas emissions per employee by FY30, and achieving net zero emissions by FY40.
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