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 launched Pure Fusion, an autonomous storage platform designed for seamless integration in multi-cloud environments. With features like infinite scale-out and cloud self-service, Pure Fusion aims to eliminate manual backend processes and optimize workload management. This innovative platform will be available for preview by the end of 2021, with general availability expected in the first half of 2022. Pure Fusion is positioned to enhance the speed and flexibility IT leaders seek, providing a storage-as-code experience that aligns with modern enterprise needs.
Pure Storage (NYSE: PSTG) announced the appointment of Mallun Yen to its Board of Directors on September 14, 2021. Yen, known for her diverse experience in SaaS and IP, will also join the nominating and corporate governance committee. Charles Giancarlo, Chairman and CEO, emphasized Yen's leadership skills, noting the company's strong execution and innovation cycle. Previously, Yen was the COO at SaaStr and held significant roles at Cisco. She aims to contribute to Pure's growth while continuing its customer-focused innovation.
Pure Storage (NYSE: PSTG) announced that DC BLOX has adopted FlashBlade, its unified fast file and object storage solution, delivered via Pure as-a-Service. This partnership aims to address the storage demands of regional life sciences organizations, enabling them to process large genomic workloads efficiently. DC BLOX's customers require rapid access to vast data volumes, and FlashBlade provides a resilient, cost-effective infrastructure for this purpose. Furthermore, DC BLOX will utilize Evergreen Storage to upgrade its infrastructure seamlessly.
Pure Storage (NYSE: PSTG) announced details for its 2021 Financial Analyst Day, now a live webcast, on September 28, 2021, from 12:00 pm PT to 2:00 pm PT (3:00 pm ET to 5:00 pm ET). The leadership team will discuss the company's vision, strategy, and financial outlook, followed by a Q&A session. Interested participants can register for the event on the company's website, and a replay will be available for 90 days post-event. Pure Storage focuses on delivering a modern data experience and achieving high customer satisfaction.
Pure Storage (NYSE: PSTG) announced that Olympus, a leader in medical devices, selected its AIRI architecture for AI development. This decision enhances Olympus's capability to manage large datasets efficiently for AI and machine learning applications. The infrastructure, combining FlashBlade and NVIDIA DGX-1, supports scalable, high-performance data management. Key benefits include on-demand storage provisioning, improved resource efficiency, and rapid development environment setup, which accelerates time to market for healthcare innovations.
Pure Storage (NYSE: PSTG) reported strong financial results for Q2 fiscal 2022, ending August 1, 2021. Revenue reached $496.8 million, up 23% year-over-year, with subscription services revenue at $171.9 million, a 31% increase. The GAAP operating loss was $(33.9) million, while non-GAAP operating income stood at $46.6 million. Operating cash flow was $123.4 million and free cash flow $95.7 million. Guidance for Q3 is $530 million in revenue and $40 million in non-GAAP operating income.
Pure Storage (NYSE: PSTG) will hold a conference call on August 25, 2021, to discuss its financial results for the fiscal second quarter ended August 1, 2021. The call will follow the release of these results, which are significant for investors looking for insights on the company's performance. A live broadcast of the call will be available on the Pure Storage Investor Relations website. The company is also set to host its Financial Analyst Day on September 28, 2021, featuring presentations on its vision and strategy.
Pure Storage (NYSE: PSTG) announced its upcoming Financial Analyst Day on September 28, 2021, starting at 9:30 am PT / 12:30 pm ET. The event will take place at the New York Stock Exchange and will also be available via live webcast. Attendees can expect presentations by the leadership team on company strategy, vision, and financial outlook, followed by a Q&A session. Registration details can be found on Pure Storage's website. A replay of the event will be accessible for 90 days post-event.
Pure Storage (NYSE: PSTG) has announced an expansion of its subscription services portfolio with the introduction of FlashStack as-a-Service and Portworx Cloud Consumption. These offerings aim to enhance customer flexibility in a multi-cloud environment. FlashStack integrates on-premises and multi-cloud infrastructures, while Portworx allows customers to purchase usage hours rather than fixed licenses, reducing costs. The demand for flexible consumption models is increasing, with Pure's as-a-Service solutions meeting evolving business needs.
On July 13, 2021, Pure Storage (NYSE: PSTG) announced significant growth in its Evergreen™ Storage program, with over 2,700 customers having completed non-disruptive storage upgrades. The average number of upgrades has increased by 38% year-over-year for five years. In FY 2022 Q1, subscription services revenue rose by 35%. Evergreen simplifies storage upgrades and reduces costs, aligning with the shift towards subscription-based storage as-a-service solutions, which enhance operational agility and minimize planned maintenance impacts.
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