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.
On April 26, 2023, Pure Storage (NYSE: PSTG) announced the opening of its new East Coast sales headquarters in New York City. This initiative aims to enhance the company's capacity to meet growing customer demands, reflecting increased adoption across key markets, with over 11,000 customers globally. The new office, located at One Penn Plaza, will foster collaboration among employees, customers, and partners. Pure Storage’s commitment to innovation and customer service is emphasized by this expansion, which aligns with its strategy of modernizing data handling through industry-leading solutions. Additionally, the company promotes community engagement through philanthropic efforts, including a donation to Rewriting the Code, an initiative supporting women's advancement in tech.
Pure Storage (NYSE: PSTG) has launched File Services for FlashArray™, allowing organizations to utilize a unified storage service with both block and file data management. This advancement aims to reduce total cost of ownership (TCO) by up to 58% over three years, backed by Enterprise Strategy Group. Key features include:
- Global Storage Pools: Simplifies storage growth without pre-planning.
- Unified Policy Management: Streamlines management, reducing admin time.
- VM-Aware Storage: Offers granular visibility for virtual machines.
- Broad Use Case Support: Compatible with common applications like VMware and NFS.
Customer experiences indicate significant reductions in data center units and operation complexities.
Pure Storage has partnered with EV Group to enhance storage management, significantly improving efficiency and sustainability. The collaboration allows EVG to reduce storage management and maintenance time by 90% and energy consumption by 85%. EVG, a major player in semiconductor production, chose Pure Storage's tools, including FlashArray, Evergreen//Forever, and Pure1, to accelerate product development and establish a competitive edge. Pure Storage solutions have enabled EVG to manage data more effectively, reduce costs related to power consumption, and facilitate data protection. The partnership aims to foster continuous growth in the competitive semiconductor market.
Pure Storage (NYSE: PSTG) announced that the Australian Genome Research Facility (AGRF), Australia's leading genomics service provider, has adopted FlashBlade, Pure's unified fast file and object storage solution. This transition aims to enhance data performance and reduce genomic pipeline turnaround times for AGRF's global clients. AGRF typically generates over 10 terabytes of raw data weekly, which has increased four-fold post-sequencing. With FlashBlade, AGRF has achieved up to an 86% reduction in clinical genome sequencing times, down from 28 days to just 10 days. This advancement allows for faster decision-making in critical projects, improving overall workflow efficiency.
On March 1, 2023, Pure Storage announced the launch of FlashBlade//E, an advanced scale-out unstructured data repository designed to meet the demands of exponential data growth. This new product offers a competitive acquisition cost of under $0.20 per GB, including three years of service, and boasts energy efficiency that consumes up to 5x less power than traditional disk systems. FlashBlade//E aims to simplify data management with reliability and non-disruptive upgrades, providing a sustainable solution for organizations facing increasing storage needs. General availability is expected by the end of April 2023.
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