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 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.
Pure Storage (PSTG) announced the appointment of John Murphy, former CFO of Adobe, to its Board of Directors on December 1, 2021. Murphy brings a wealth of experience from his roles at Adobe, Qualcomm, and DIRECTV, which is expected to enhance Pure's growth trajectory as the company expands its storage as-a-service model. Concurrently, board members Mark Garrett and Anita Sands will step down on December 15, 2021, after six years of service. Pure Storage acknowledges their contributions during its formative years and is optimistic about the future.
Pure Storage (NYSE: PSTG) reported a robust Q3 FY22 with revenue reaching $562.7 million, up 37% year-over-year. Subscription Services revenue also showed strong growth at $187.8 million, a 38% increase. The company's Annual Recurring Revenue (ARR) climbed to $788.3 million, up 30%. GAAP gross margin stood at 66.6%, while non-GAAP operating income was $69.5 million. The company maintained a leading position in the Gartner Magic Quadrant for storage solutions. Guidance for Q4 predicts revenue of $630 million.
Pure Storage (NYSE: PSTG) announced that TrialStat Corporation has adopted its FlashArray and Evergreen Storage subscriptions to enhance clinical trial research. This transition allows TrialStat to achieve 300 times faster page load times compared to its previous storage solution, with access times dropping to milliseconds. The upgrade not only accelerates data management but also supports ongoing innovations, enabling real-time data analysis for clinical trials, crucial for expediting medical treatments. The Evergreen Subscription ensures uptime and seamless upgrades, reinforcing TrialStat's competitive edge in the market.
Pure Storage (NYSE: PSTG) announced its partnership with Microsoft Azure and Equinix to enhance chip design efficiency. This collaboration introduces FlashBlade at Equinix with Azure for Engineering Design Automation (EDA) workloads, providing cloud-adjacent storage capabilities. The solution addresses the increasing demand for high-performance computing amid the global chip shortage. Key benefits include simplified cloud adoption, enhanced scalability, and robust data security, enabling organizations to leverage public cloud resources while maintaining control over their data.
Pure Storage (NYSE: PSTG) announced a conference call on November 23, 2021 at 1:30 p.m. PT to discuss its financial results for the fiscal third quarter ended October 31, 2021. The company expects Q3 results to meet or exceed previous guidance. Notably, Chief Revenue Officer Dominick Delfino is leaving, with Dan FitzSimons appointed as his successor. Pure will also participate in several upcoming investor conferences, including the Wells Fargo Virtual TMT Summit on November 30, 2021. For more details, visit Pure Storage's Investor Relations website.
Ivanti has established a new CISO Advisory Board comprising top C-suite leaders to enhance its cybersecurity measures. This initiative aims to share best practices and insights to combat evolving threats. CEO Jeff Abbott emphasized the importance of securing customer environments and aims to drive product innovation. The board will advise on new technologies, acquisitions, and provide valuable guidance based on their extensive experience in global cybersecurity. This strategic move reinforces Ivanti's commitment to creating a secure and adaptive workplace.
Pure Storage (NYSE: PSTG) has been recognized as a Leader in the Gartner Magic Quadrant for Primary Storage for the eighth consecutive year, reaffirming its strong position in the storage market. The company was noted for its robust ability to execute and comprehensive vision. Recent innovations include enhanced FlashArray solutions, new ransomware protection features, and greater leadership in as-a-Service offerings. In October 2021, Pure was also named a leader in the Magic Quadrant for Distributed File Systems & Object Storage, underscoring its significant advancements and customer satisfaction.
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