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) and Equinix (Nasdaq: EQIX) have partnered to introduce Pure Storage on Equinix Metal, enhancing storage as a service in a multi-cloud environment. This new offering streamlines infrastructure management, allowing enterprises to shift to a more flexible IT model without owning data centers. With 57% of businesses opting for hybrid IT, this solution promises to reduce costs and operational risks. The service is accessible in 18 global locations and supports various applications, including high-volume and cloud-native workloads.
Portworx by Pure Storage has partnered with IBM to deliver OpenShift-based data services for hybrid cloud environments. This collaboration enables clients to utilize IBM Cloud Satellite for secure and efficient management of workloads across diverse settings. IBM aims to invest $1 billion over three years in its ecosystem initiative to enhance cloud capabilities. The partnership emphasizes the importance of edge computing and data sovereignty, providing clients with tools for data protection and security. Portworx ensures data integrity for Kubernetes applications, addressing industry needs for agile and consistent cloud services.
Pure Storage (NYSE: PSTG) announced strong financial results for its fiscal Q4 and full year ending January 31, 2021. Q4 revenue reached $502.7 million, a 2.2% increase year-over-year, while full-year revenue was $1.684 billion, up 2.5%. GAAP operating loss in Q4 was $46.8 million. However, non-GAAP operating income for the quarter was $36.7 million. Pure's remaining performance obligations rose 24% to $1.1 billion. For Q1 FY22, the company expects revenue of $405 million, indicating 14%-15% growth.
On February 22, 2021, Pure Storage (NYSE: PSTG) announced its partnership with Multiview, a leading B2B digital publisher, to aid in their transition to a hybrid cloud infrastructure. Multiview, with over 1,200 partnerships, required enhanced performance, low latency, and robust disaster recovery solutions to scale its operations. By choosing Pure FlashBlade and FlashRecover, Multiview aims for efficient data replication and faster recovery times. The collaboration promises operational flexibility and financial savings, reinforcing Pure's commitment to future-proof data solutions.
On February 16, 2021, Pure Storage (NYSE: PSTG) announced major enhancements to its unified storage portfolio, reinforcing its leadership in the enterprise storage market. Key updates include improvements to the Purity software for FlashBlade and FlashArray, which boost performance for Windows applications and enhance ransomware protection. The new features support hybrid storage, with capabilities like SafeMode snapshots and tier-1 application performance, promising up to 50% reduced latency. These innovations are part of Pure's Evergreen subscription model, ensuring no additional costs for customers.
Pure Storage (NYSE: PSTG) will host a conference call on February 24, 2021, at 2:00 p.m. PT, to discuss its financial results for the fourth quarter and full year ended January 31, 2021. The call follows the release of its financial results and will be available for live audio on the Pure Storage Investor Relations website. A replay will be available post-call for two weeks. Pure Storage is known for providing a modern data experience and has been recognized as a leader in the 2020 Gartner Magic Quadrant for Primary Storage Arrays.
Pure Storage (NYSE: PSTG) has partnered with Halifax Health, a Florida-based hospital system, to enhance clinical workflows and ensure the high availability of crucial applications, including the MEDITECH EHR system. This collaboration aims to improve patient outcomes and operational efficiency, particularly during natural disasters and the COVID-19 pandemic. By implementing Pure Storage FlashArray™, Halifax Health has significantly reduced recovery time objectives and cut storage management time by 75%. This strategic move allows for better resource management and a more resilient IT infrastructure.
Pure Storage (NYSE: PSTG) has appointed Ajay Singh as Chief Product Officer, effective immediately. Singh, with over 25 years of experience, will oversee all business units and Global Alliances, enhancing the company's product portfolio and customer experience. CEO Charles Giancarlo emphasized that Singh's leadership will further Pure’s innovation and industry leadership in storage management. Previously at VMware, Singh is expected to bring significant expertise to the role, driving growth and maintaining customer satisfaction.
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