Pure as-a-Service Sees Strong Customer Adoption Across Geographies, Industry Segments, and Use Cases

Rhea-AI Summary

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.

Positive

• Annual subscription services revenue exceeded $500M, representing 33% year-over-year growth.
• Acquisition of new customers, including one with a Pure as-a-Service commitment over $10M.
• The introduction of the Service Catalog enhances customer experience and reduces costs.

Negative

• None.

MOUNTAIN VIEW, Calif., April 14, 2021 /PRNewswire/ -- Today Pure Storage^® (NYSE: PSTG), the IT pioneer that delivers storage as-a-service in a multi-cloud world announced continued growth of its Pure as-a-Service subscription offerings.

Throughout the last year, Pure saw increased customer adoption in every key market globally. In Q4 alone, new Pure as-a-Service customers included major clouds, financial institutions, hospitals, telecommunications companies, and more, including a customer with a Pure as-a-Service commitment of more than $10M. Pure's annual subscription services revenue, which includes Pure as-a-Service and Evergreen and makes up more than 30% of total revenues, exceeded $500M in FY21, representing 33% year-over-year growth.

Pure has continued to advance its subscription services platform, reducing complexity by eliminating additional licenses and support costs, and delivering new levels of transparency not seen before in the storage industry. Pure's Service Catalog, introduced in Q4, mirrors a public cloud experience, with increased granularity, and lower entry points designed to easily scale. Now, customers can use the new Cost Calculator to estimate their Pure as-a-Service monthly cost, making it even simpler for customers to choose the right storage service level for each workload.

"Only Pure delivers a true enterprise class utility with flexible storage consumption; a cloud experience on premise; an easy path to move data to the cloud at any time; and aligns spend with actual consumption. As customers continue to face dynamic business demands, Pure as-a-Service delivers the flexibility, simplicity and reliability they need." -- Prakash Darji, VP and GM, Digital Technology Services Group, Pure Storage

"Pure's vision of storage as code proved its worth during the pandemic, enabling our customers to scale storage capacity to stay in step with rapidly changing demands. With Pure as-a-Service, our customers could pay for the exact capacity they needed while still getting the same performance and availability they'd have in a traditional cloud desktop." -- Robert Green, President, Co-Founder, and CTO, Dizzion

"Pure was the only supplier to offer us a flexible, innovative, and scalable offering with Pure as-a-Service, which was the deciding factor. We were won over by its fully OpEx model, consumption-based billing, and short-term contracts." -- Fabrice Joffre, Technical Director, Hopps

"We've found that with Pure as-a-Service we get all the benefits of a flexible consumption model without having to compromise on security." -- Jo Verstappen, Chief Executive Officer, Open Line

Learn more at purestorage.com/pure-as-a-service.

About Pure Storage

Pure Storage (NYSE: PSTG) gives technologists their time back. Pure delivers a modern data experience that empowers organizations to run their operations as a true, automated, storage as-a-service model seamlessly across multiple clouds. One of the fastest-growing enterprise IT companies in history, Pure helps customers put data to use while reducing the complexity and expense of managing the infrastructure behind it. And with a certified customer satisfaction score in the top one percent of B2B companies, Pure's ever-expanding list of customers are  among the happiest in the world. For more information, visit www.purestorage.com.

Analyst Recognition: Pure Storage has been named a Leader in the 2020 Gartner Magic Quadrant for Primary Storage Arrays.

Connect with Pure
Blog
LinkedIn
Twitter
Facebook

Pure Storage, the Pure P Logo, Portworx, and the marks on the Pure Trademark List at www.purestorage.com/legal/productenduserinfo.html are trademarks of Pure Storage, Inc. Other names are trademarks of their respective owners. 

 

View original content to download multimedia:http://www.prnewswire.com/news-releases/pure-as-a-service-sees-strong-customer-adoption-across-geographies-industry-segments-and-use-cases-301268653.html

SOURCE Pure Storage

FAQ

What are the recent developments for Pure Storage (PSTG) in 2021?

Pure Storage has announced strong growth in its Pure as-a-Service subscription offerings, with significant revenue increases and customer adoption.

What is Pure Storage's subscription services revenue for FY21?

Pure Storage's subscription services revenue exceeded $500M in FY21, marking a 33% increase year-over-year.

How has customer adoption of Pure as-a-Service changed recently?

In the last year, customer adoption of Pure as-a-Service has increased significantly across various industries and geographies.

What new features did Pure Storage introduce to enhance its services?

Pure Storage introduced a Service Catalog that simplifies the selection of storage services and reduces costs for customers.

What was the customer commitment reported by Pure Storage for its services?

Pure Storage reported a commitment of over $10M from one new customer for its Pure as-a-Service offerings.