Pure as-a-Service Sees Strong Customer Adoption Globally, Underscores Pure's Commitment to Delivering Simple, Flexible, and Transparent Storage Solutions

Rhea-AI Summary

Pure Storage (NYSE: PSTG) reported robust growth in its subscription services, with Pure as-a-Service contributing 33% to total revenue, exceeding $738 million in fiscal year 2022, reflecting a 37% year-over-year increase. The service, launched in 2018, has gained global traction, making it a preferred choice for major companies like a leading logistics firm and the City of Denver. Enhancements to pricing transparency through Pure1 and customer satisfaction further bolster Pure's market position.

Positive

• Subscription services revenue reached over $738 million, accounting for 33% of total revenue.
• 33% year-over-year growth in subscription services revenue.
• Expanded customer adoption globally, including major organizations.
• Enhanced pricing transparency and self-service capabilities added to Pure1.

Negative

• None.

MOUNTAIN VIEW, Calif., March 22, 2022 /PRNewswire/ -- Pure Storage® (NYSE: PSTG), the IT pioneer that delivers the world's most advanced data storage technology and services, today announced continued growth and customer adoption of its Pure as-a-Service subscription offering.

Unveiled in 2018 as the first true consumption-based service model for storage, Pure as-a-Service delivers flexibility, transparency, and simplicity, along with proactive monitoring and non-disruptive upgrades while satisfying performance and usage Service Level Agreements (SLAs).

Throughout the last year, Pure saw increased customer adoption in key markets globally, including one of the world's leading shipping and logistics companies, which selected Pure as-a-Service to build a secure data infrastructure for its new offering. As a result of customer growth, in fiscal year 2022, Pure's subscription services revenue made up 33% of total revenue, exceeding $738 million and representing 37% year-over-year growth. Pure as-a-Service's momentum, combined with the growth of Pure's Evergreen Storage subscription and Pure Cloud Block Store, which provides seamless data mobility across on-premises and cloud environments, is a testament to Pure's expanding and unified subscription strategy.

Pure has continued to advance Pure as-a-Service to provide better pricing transparency and granularity by building an additional layer of self-service for customers. Customers can now take advantage of an extended version of Pure's Cost Calculator, which has been built directly in Pure1, Pure's AI-driven data-services platform for storage management. With the added ability to conduct advanced workload modeling, to request a quote, and to make purchases directly through the platform, Pure is providing customers with unrivaled price transparency for their storage needs.

Global organizations are continuing to benefit from the flexibility and simplicity of Pure as-a-Service, including the City and County of Denver, Wobcom GmbH, and Matrix Solutions:

"With the storage-as-a-service solution, we're no longer guessing at what we might need in three to five years, investing in capacity and performance that may or may not meet our needs down the road. The OPEX model gives us a stable cost structure while avoiding time-consuming procurement processes and forklift upgrades." – Sean Greer, IT Director of Service Delivery, City and County of Denver

"With Pure as-as-Service, we were able to choose the storage capacity we needed to start with, knowing we can scale easily to expand at any time." – Giovanni Coppa, Head of Data Center and Cloud Innovation, Wobcom GmbH

"Pure as-a-Service eliminates capital expenditure surprises and enables us to scale up or down accordingly. I can redirect my attention and resources to cybersecurity and other strategic and high growth opportunities." – Anthony Ridley-Smith, Managing Director & Founder, Matrix Solutions

Learn more at www.purestorage.com/products/staas/pure-as-a-service.html

About Pure Storage

Pure Storage  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.  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.

Analyst Recognition:

Leader in the 2021 Gartner Magic Quadrant for Primary Storage Arrays
Leader in the 2021 Gartner Magic Quadrant for Distributed File Systems & Object Storage

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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.

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SOURCE Pure Storage

FAQ

What is the significance of Pure Storage's subscription services growth for PSTG?

Pure Storage's subscription services growth indicates strong customer adoption, significantly contributing to the company's total revenue and enhancing its financial stability.

What percentage of total revenue did Pure as-a-Service represent for PSTG?

Pure as-a-Service represented 33% of Pure Storage's total revenue, exceeding $738 million in fiscal year 2022.

Which companies have adopted Pure as-a-Service?

Companies like a leading shipping and logistics firm and the City and County of Denver have adopted Pure as-a-Service for their data infrastructure needs.

How has Pure Storage improved its pricing transparency for customers?

Pure Storage has improved pricing transparency by building an extended version of its Cost Calculator directly into Pure1, allowing advanced workload modeling and self-service purchases.