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) unveiled the enhanced Pure1 Digital Experience at Pure//Accelerate™ Digital on May 13, 2021. This upgrade offers automated monitoring, AI-driven recommendations, and self-service management to streamline IT management. The AI-engine Meta provides predictive service management, ensuring proactive issue resolutions. Customers gain improved control over their resources, including on-premises and hybrid cloud storage. The new features are designed to optimize user experience and operational efficiency. Access to Pure1 is available at no extra cost.
Pure Storage (NYSE: PSTG) announced new channel incentives aimed at enhancing subscription sales at its Pure//Accelerate™ Digital event. Key updates include a 5% rebate for partners on closed Pure as-a-Service deals, potentially earning up to US$100,000 per contract. With the transition of Portworx to a 100% channel model, partners can now expand offerings for cloud-native applications. Additionally, Pure1 has been upgraded for partners to manage customer subscriptions, fostering transparency and operational efficiency.
On May 13, 2021, Pure Storage (NYSE: PSTG) announced the launch of Portworx Enterprise 2.8 at Pure//Accelerate™ Digital. This release enhances Kubernetes scalability with dynamic storage provisioning and improved management features. Key updates include unified observability through Pure1, accelerated backup and recovery with FlashBlade, and support for VMware Tanzu. Gartner forecasts that hybrid cloud storage adoption will rise significantly by 2025, highlighting the relevance of this solution. The release aims to provide a seamless hybrid cloud experience and is available from June 2021.
Pure Storage (NYSE: PSTG) will host a conference call on May 26, 2021 at 2:00 p.m. PT to discuss its financial results for the fiscal first quarter ended May 2, 2021. This follows the release of its financial results. The call will be accessible via the Pure Storage Investor Relations website, and a replay will be available afterwards. Additionally, Pure Storage is participating in multiple investor conferences in June, featuring presentations by key executives.
Pure Storage (NYSE: PSTG) announced the release of PX-Backup 2.0, enhancing capabilities for protecting Kubernetes applications. Key features include role-based access control, an Activity Timeline Dashboard for data protection intelligence, and improved application grouping for usability. The platform also extends support to various ecosystems, including VMware Tanzu and Microsoft Azure, and is now available on AWS Marketplace. This release addresses the challenges of protecting modern applications in complex, distributed environments.
Genesys announced the addition of Arthur P. Johnson, Jr. to its operating committee, enhancing its governance with his extensive experience in corporate strategy and finance. Johnson's appointment comes after a strong fiscal year for Genesys, which saw accelerated cloud growth and aims to redefine customer engagement through its Experience as a Service initiative. Johnson, currently the chief strategy officer at Pure Storage (PSTG), is expected to provide strategic guidance as Genesys navigates its next growth phase.
On April 23, 2021, Pure Storage (NYSE: PSTG) announced that its FlashBlade was recognized as a leader in the GigaOm Radar for High-Performance Object Storage. The report praised FlashBlade for its maturity and effectiveness in meeting enterprise storage needs, highlighting features such as multi-protocol support and a user-friendly interface. FlashBlade is close to achieving $1 billion in sales and is utilized by over 25% of Fortune 100 companies. This recognition marks Pure Storage's fourth consecutive leadership position in GigaOm Radar reports for its storage solutions.
Pure Storage (NYSE: PSTG) announced continued growth in its Pure as-a-Service offerings, with significant adoption across key global markets. In FY21, subscription services revenue exceeded $500M, reflecting a 33% year-over-year increase. Notably, one new customer committed over $10M to Pure as-a-Service. The company has streamlined its platform to enhance transparency and reduce costs for customers, introducing a Service Catalog that simplifies storage service selection. Industry leaders highlighted the flexible consumption model of Pure as-a-Service as a crucial factor for their choice.
Pure Storage (NYSE: PSTG) has been recognized by CRN in its 2021 Partner Program Guide with a prestigious 5-Star rating. This accolade highlights Pure's commitment to providing exceptional partner programs, which enhance channel partner success through various innovations and rewards. Recent upgrades to the Pure Partner Program include increased incentives, new selling solutions, and enhanced marketing and training offerings. The guide will be featured in the April 2021 issue of CRN, emphasizing the program's strengths in supporting IT channel partners.
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