Financial Data and Key Metrics Changes - Revenue for Q3 FY25 was $831 million, representing a 9% year-over-year growth, exceeding guidance [35] - Operating profit was $167 million with an operating margin of 20.1%, positively impacted by revenue overachievement and strong gross margin performance [35][40] - Subscription services annual recurring revenue (ARR) grew 22% to $1.57 billion, while total remaining performance obligations (RPO) grew 16% year-over-year to $2.4 billion [38] Business Line Data and Key Metrics Changes - Strong demand for the //E family and FlashArray//C solutions contributed to higher product revenues, while total contract value (TCV) sales for storage-as-a-service offerings during Q3 was $96 million [36] - The conversion of larger Evergreen//One opportunities valued over $5 million remained consistent, while smaller opportunities under $5 million saw a meaningful increase in conversions to traditional sales [37] Market Data and Key Metrics Changes - U.S. revenue for Q3 was $562 million, while international revenue was $269 million, with new customer acquisition growing by 340 customers during the quarter [39] - The overall IT spending environment remains muted, with customers facing higher software, SaaS, and cloud costs, impacting operating budgets [29] Company Strategy and Development Direction - The company signed a significant design win with a top four hyperscaler, marking a pivotal opportunity to provide flash storage for standard hyperscaler environments [8][14] - A deepening collaboration with Kioxia aims to support the expected increase in flash demand for the hyperscale industry [11] - The introduction of Pure Fusion aims to transform enterprise data management by enabling organizations to create their own data cloud environments [21][27] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's positioning across all segments despite the muted IT spending environment [29] - The design win is expected to contribute significantly to revenue and operating margin expansion starting in FY 2027, with early field trial buildouts anticipated next year [46][47] - The company remains focused on execution while navigating challenges in the current economic landscape [48] Other Important Information - The company repurchased 3.6 million shares, returning approximately $182 million to shareholders, with $213 million remaining on existing repurchase authorizations [42] - Cash flow from operations during the quarter was $97 million, reflecting a large upfront payment for new software technology [41] Q&A Session Summary Question: What drove the decision by the hyperscaler to choose Pure Storage? - The hyperscaler chose Pure Storage due to unmatched reliability, significant power savings, and accelerated time to value, among other factors [55][56] Question: Can you elaborate on the financial mechanics of the licensing engagement? - The licensing involves both software and hardware design, with revenue primarily coming from licensing fees, software fees, and support fees [70] Question: What is the expected revenue contribution from the hyperscaler design win? - The revenue contribution is expected to be meaningful starting in FY 2027, with the design win being a significant milestone [61][63] Question: How does the Evergreen subscription model trend in the current environment? - There has been a shift towards traditional sales due to pressures on OpEx budgets, but the company expects growth in subscription services to resume [92][130] Question: What is the nature of the CoreWeave partnership? - The partnership expands the availability of Pure Storage technology within the CoreWeave dedicated cloud, enhancing service offerings for AI customers [101][104]

For the quarter ended October 2024, Pure Storage (PSTG) reported revenue of $831.07 million, up 8.9% over the same period last year. EPS came in at $0.50, compared to $0.50 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $814.77 million, representing a surprise of +2.00%. The company delivered an EPS surprise of +16.28%, with the consensus EPS estimate being $0.43.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and ...

Pure Storage (PSTG) came out with quarterly earnings of $0.50 per share, beating the Zacks Consensus Estimate of $0.43 per share. This compares to earnings of $0.50 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 16.28%. A quarter ago, it was expected that this data storage company would post earnings of $0.38 per share when it actually produced earnings of $0.44, delivering a surprise of 15.79%.Over the last four quarters, th ...

SANTA CLARA, Calif., Dec. 3, 2024 /PRNewswire/ -- Pure Storage® (NYSE: PSTG), the IT pioneer that delivers the world's most advanced data storage technology and services, today announced a collaboration with Kioxia Corporation ("Kioxia"), a world leader in memory solutions, to develop cutting-edge technology that addresses the growing demand for high-performance, scalable storage infrastructure among today's hyperscale environments.Industry Significance:Traditional storage solutions, particularly those rely ...

Pure Storage (PSTG) stock rocketed higher late Tuesday after the enterprise data storage company reported third-quarter earnings and sales that beat expectations. The company also said it had won a "design win" with a top-four hyperscale cloud provider for its DirectFlash data storage technology. Pure Storage said in a news release that it earned an adjusted 50 cents per share on sales of $831 million for its quarter that ended Nov. 3. Analysts polled by FactSet projected the Santa Clara, Calif.-based compa ...

| --- | --- | --- | |----------------|-------|-------| | | | | | | | | | | | | | | | | | Q3 Fiscal 2025 | | | Note about 52/53 week fiscal year: We use a 52/53 week fiscal year ending on the first Sunday after January 30. The FY22 period presented contains 53 weeks whereas all other fiscal year periods presented contain 52 weeks. Forward Looking Statements and Non-GAAP Information This presentation contains forward-looking statements regarding our products, business and operations, including but not limited ...

Awarded industry-first design win from a top-four hyperscalerSANTA CLARA, Calif., Dec. 3, 2024 /PRNewswire/ -- Today Pure Storage (NYSE: PSTG), the IT pioneer that delivers the world's most advanced data storage technologies and services, announced financial results for its third quarter fiscal year 2025 ended November 3, 2024."Pure Storage has achieved another industry first in our journey of data storage innovation with a transformational design win for our DirectFlash technology in a top-four hyperscaler ...

Pure Storage, Inc (PSTG) is scheduled to report third-quarter fiscal 2025 earnings on Dec. 3, after the closing bell.Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.PSTG expects revenues to be $815 million for the quarter, implying an increase of 6.8% from the year-ago figure. The Zacks Consensus Estimate is pegged at $814.8 million, indicating an improvement of 6.8% from the prior-year level.The Zacks Consensus Estimate for earnings is pegged at 43 cents per share, suggesting a dec ...

Analysts on Wall Street project that Pure Storage (PSTG) will announce quarterly earnings of $0.43 per share in its forthcoming report, representing a decline of 14% year over year. Revenues are projected to reach $814.77 million, increasing 6.8% from the same quarter last year.Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted downward by 1.5% to its current level. This demonstrates the covering analysts' collective reassessment of their initial projections during this peri ...

Pure Storage TodayPSTGPure Storage$53.75 +2.09 (+4.05%) 52-Week Range$31.00▼$70.41P/E Ratio134.38Price Target$67.95Add to WatchlistPure Storage Inc. NYSE: PSTG is a leading enterprise data storage provider specializing in all-flash storage solutions using solid-state drives (SSDs). Their FlashArray is designed for low latency, scalable and reliable storage for applications requiring high-speed access to massive datasets like machine learning (ML), real-time analytics, virtual machines and high-performance ...