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 a conference call on November 30, 2022, at 2:00 p.m. PT to discuss its financial results for the fiscal third quarter ending November 6, 2022. The live audio broadcast will be available on the Pure Storage Investor Relations website. A replay will be accessible for two weeks after the call. The company also highlighted its participation in several investor conferences in December, which includes presentations by key executives. Pure's commitment to sustainability and customer satisfaction continues to set it apart in the data storage industry.
Pure Storage (NYSE: PSTG) reported strong growth in its Financial Services sector, increasing over 30% year-over-year in FY'22. The demand for its all-flash storage solutions continues to rise as leading financial organizations modernize their data management. Nine of the top ten global investment banks and numerous asset management firms utilize Pure's innovative technologies, including FlashArray and FlashBlade, to improve performance and operational efficiency. The Evergreen architecture further enhances customer flexibility and reduces the need for costly upgrades, solidifying Pure Storage's role as a pivotal player in the financial sector.
Pure Storage (NYSE: PSTG) announced its positioning as a Leader in Gartner's Magic Quadrant for Distributed File Systems and Object Storage, recognized for both its Completeness of Vision and Ability to Execute. This recognition reflects Pure's commitment to innovative data storage solutions, particularly through its FlashBlade platform, which is utilized by over 25% of the Fortune 100. Recent achievements include the launch of FlashBlade//S, which offers improved performance and energy efficiency, alongside notable customer satisfaction ratings.
Pure Storage announced at KubeCon North America 2022 the launch of a fully managed service for Portworx Enterprise, enhancing operations for Kubernetes applications. The new service enables DevOps teams to deploy Kubernetes apps in seconds with improved scalability and reliability. Key features include the PX-Fast capability for low latency workloads, Near-Sync DR for minimal downtime, and an Object Storage Service for seamless integration with Kubernetes. Additionally, a free tier of Portworx Backup is offered to protect up to 1TB of data.
Pure Storage (NYSE: PSTG) has been recognized as a Leader in the Gartner Magic Quadrant for Primary Storage for the ninth consecutive year, solidifying its position in the enterprise storage industry. The company has excelled in both the Ability to Execute and Completeness of Vision axes. Recent product introductions include FlashArray//XL, which offers a significant performance boost, and Pure Fusion, enhancing self-service data management. The company also emphasizes energy efficiency, claiming up to 84.7% energy savings compared to competitors.
Pure Storage (NYSE: PSTG) reported a 30% year-over-year revenue growth for Q2, reaching $646.8 million. The company achieved a record operating profit, with a non-GAAP operating income of $106 million and a non-GAAP operating margin of 16.4%. Subscription services revenue grew by 35% to $232.2 million, and the Annual Recurring Revenue (ARR) rose to $955 million. The FY23 revenue outlook is raised to $2.75 billion.
Pure Storage (NYSE: PSTG) announced a conference call for August 31, 2022, at 1:30 p.m. PT to discuss its Q2 fiscal results ending August 7, 2022. The results will be released prior to the call, available live on the Pure Storage Investor Relations website. A replay will also be accessible post-call.
Pure Storage is recognized for its innovative data storage solutions, and it aims to reduce data center emissions through sustainable practices. The company has been awarded leader status in the Gartner Magic Quadrant for Primary Storage Arrays and Distributed File Systems & Object Storage.
Pure Storage has unveiled its new modular architecture, the FlashBlade//S family, designed to accommodate diverse workloads with enhanced scalability, performance, and power efficiency. The platform separates compute from capacity, allowing upgrades without interruptions and meeting modern storage demands effectively. The FlashBlade//S emphasizes sustainability with improvements in space efficiency, and future-proofing through its Evergreen subscription model. General availability is set for Q2 FY23.
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