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) announced a conference call scheduled for March 2, 2022, at 2:30 p.m. PT to discuss its financial results for the fiscal fourth quarter and full year ending February 6, 2022. The call follows the release of the company's financial results. Investors can access the live audio broadcast on the Pure Storage Investor Relations website. Following the call, a replay will be available. Pure Storage will also participate in multiple upcoming investor conferences, enhancing investor engagement and visibility.
Kyndryl (NYSE: KD) and Pure Storage (NYSE: PSTG) have announced a global alliance to enhance IT solutions for enterprises. This partnership aims to combine Kyndryl’s IT infrastructure expertise with Pure Storage’s advanced technology for mission-critical applications. By integrating their capabilities, they intend to tackle challenges related to multicloud management and automation, providing cyber resiliency at the storage layer. The offerings will be available as-a-service, promoting flexible consumption models to optimize data management and modernization initiatives.
Pure Storage (NYSE: PSTG) announced its partnership with Meta for the AI Research SuperCluster (RSC), expected to be the world's fastest AI supercomputer. This collaboration aims to bolster Meta's AI development by enabling rapid data analysis across various formats and languages. Pure will provide essential storage solutions, including FlashArray and FlashBlade, which promise high performance and reliability for AI workloads. The partnership builds on their long-standing relationship since 2017, aiming to support Meta's vision for AI-driven applications in the metaverse.
On January 19, 2022, Pure Storage (NYSE: PSTG) emphasized the critical importance of robust backup and recovery strategies to combat rising ransomware threats, with potential global damages estimated at $265 billion by 2031. The company showcased its advanced data protection solutions, including Pure SafeMode™, Pure FlashRecover™, and Portworx PX-Backup, designed to help organizations safeguard data and ensure rapid recovery post-attack. Industry leaders reflected on how these technologies enhance security, protect reputations, and support business continuity, underscoring the necessity of effective data protection strategies today.
Pure Storage (NYSE: PSTG) has enhanced its Partner Program to align with its services-led strategy, supporting flexibility and growth for partners. Key updates include tailored selling options for cloud-native solutions, tier-based rewards for specialized partners, and simplified program requirements. The changes aim to accelerate partner success and reflect Pure's commitment to a 100% channel-led model. A webinar is scheduled for January 19, 2022, to provide further details on the updated program.
Pure Storage (NYSE: PSTG) announced that TeleMessage is utilizing Portworx Enterprise to enhance its data management and archiving services. This transition to a Kubernetes-based infrastructure aids in securing communications amid the rise of BYOD practices. TeleMessage has improved its encryption and compliance capabilities with support from Portworx and HashiCorp. The implementation, completed in three months, enables redundancy and minimizes the risk of service downtime. TeleMessage's upgraded services ensure secure data handling in compliance with various regulations including GDPR and HIPAA.
Pure Storage (NYSE: PSTG) announced significant growth within the U.S. public sector, with more than 175 federal agencies utilizing its services. The company's public sector business achieved record highs in Q3, with new clients from the Department of Treasury and Homeland Security adopting its innovative storage solutions. Demand is driven by trends in cloud transformation, ransomware, cybersecurity, and AI, supported by government relief programs. Pure's offerings position it as a leader in infrastructure modernization for federal and state agencies, enhancing their operational resilience and performance.
Pure Storage (NYSE: PSTG) announced that FlashBlade has been recognized as a leader in the 2021 Coldago Research Maps for file and object storage. This recognition reinforces FlashBlade's capability to handle unstructured data and meet enterprise needs efficiently. Notably, FlashBlade has surpassed $1 billion in sales and serves nearly 200 customers, with over 25% of Fortune 100 companies utilizing the platform. The reports evaluated 26 vendors for file storage and 17 for object storage, ranking them based on execution ability and strategic vision.
Pure Storage (NYSE: PSTG) has launched the FlashArray//XL, a new enterprise storage solution aimed at high-demand applications, demonstrating a significant 80% improvement in IOPS. This system offers up to 5.78 PB effective capacity and maintains 99.9999% availability. FlashArray//XL is designed for seamless integration with Pure Fusion, allowing for rapid app deployment and efficient workload management. The product addresses the needs of enterprises transitioning from legacy systems, as evidenced by strong pre-release orders.
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