Customer Challenge: NMSU, a renowned academic institution serving as a NASA Space-Grant College and home to the first Honors College in New Mexico, serves a diverse student body across four campuses, a satellite learning center in Albuquerque, and 12 agricultural research and science centers. The University has quickly become a vital stepping stone to success for countless students. To further its commitment to delivering seamless student services, NMSU recognized the need to modernize its IT environment du ...

Pure Storage, Inc (PSTG) is continuing its upward trajectory, with a surge of 137.1% in the past year compared with the S&P 500 Composite's 26.3% growth. Headquartered in Mountain View, CA, Pure Storage provides software-defined all-flash solutions that are uniquely fast and cloud-capable for customers. Its primary offerings are FlashArray and FlashBlade products, which include FlashArray//C, FlashArray//XL, FlashArray File Services, FlashBlade//S and FlashBlade//E. The company offers its products and servi ...

In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $1.55 per share and a revenue of $3.13 billion, indicating changes of +9.15% and +10.5%, respectively, from the former year. Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Pure Storage. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's busines ...

Pure Cloud Block Store drives agility and performance for Ampersand in a hybrid cloud environment SANTA CLARA, Calif., May 14, 2024 /PRNewswire/ -- Pure Storage® (NYSE: PSTG), the IT pioneer that delivers the world's most advanced data storage technologies and services, announced that Ampersand, the TV industry's largest source of combined multiscreen TV inventory and viewership insights, is leveraging Pure Storage's platform to increase data resilience, flexibility, and performance in support of its hybrid ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended February 4, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______ to _______ Commission File Number 001-37570 Pure Storage, Inc. (Exact Name of Registrant as Specified in its Charter) (State or other jurisdiction of incorp ...

Financial Performance - FY24 Revenue reached $2.83 billion, a 3% year-over-year growth[133] - Q4 FY24 Subscription Annual Recurring Revenue (ARR) was $1.37 billion, representing a 25% year-over-year growth[133] - The company achieved a non-GAAP operating margin of 16.2% in FY24[133] - Total Remaining Performance Obligations (RPO) grew by 31% year-over-year in Q4, exceeding $2.3 billion[133] Gross Profit and Margin (Non-GAAP) - Total gross profit and margin (non-GAAP) was 69.4%[18] - Product gross profit and margin (non-GAAP) was 73.4%[258] - Subscription services gross profit and margin (non-GAAP) was 74.1%[360] Operating Expenses (Non-GAAP) - R&D (non-GAAP) expenses for EY24 were $556.3 million, representing 19.7% of revenue[28] - S&M (non-GAAP) expenses for EY24 were $863.6 million, representing 30.5% of revenue[28] - G&A (non-GAAP) expenses for EY24 were $195.1 million, representing 6.9% of revenue[28] Cash Flow - Operating cash flow for FY24 was $678 million[182] - Free cash flow for FY24 was $483 million[197] Guidance - The company projects FY25 revenue to reach $3.1 billion, representing a 10.5% year-over-year growth rate[223]

Financial Data and Key Metrics Changes - For FY '24, total revenue grew by 2.8%, with expectations adjusted to over 7% when accounting for strong Evergreen/One and Evergreen/Flex sales and a noncancelable product sale [25][26] - Operating margin for FY '24 was approximately 16%, exceeding the original guidance of 15% [26] - Subscription services annual recurring revenue (ARR) grew 25% to approximately $1.4 billion, comprising 42% of total revenue [28][29] Business Line Data and Key Metrics Changes - Subscription services revenue during Q4 was $329 million, growing 24% [28] - Total contract value (TCV) sales for Evergreen/One and Evergreen/Flex exceeded $400 million, more than doubling over the prior year [14][24] - FlashBlade sales exceeded $2 billion since launch, indicating strong product and platform innovation [14][15] Market Data and Key Metrics Changes - U.S. revenue for Q4 was $522 million, while international revenue was $268 million [29] - New customer acquisition grew by 349 customers during Q4, including 6 new Fortune 500 customers, with Pure now serving slightly over 60% of the Fortune 500 [29] Company Strategy and Development Direction - The company is focused on consolidating data storage using a single operating and management environment, which is seen as more efficient than managing multiple disparate systems [16][17] - The Evergreen technology allows for an always modern environment without application disruption, enhancing customer value [22][23] - The company aims to return to double-digit revenue growth in FY '25, with expectations of 10.5% growth to $3.1 billion [43][44] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism about the macroeconomic environment, noting signs of improvement [41] - The company is confident in its platform strategy and the opportunity to lead the market, particularly in AI-related storage solutions [41][40] - Management anticipates that the growth of subscription services will continue to drive revenue, with a goal of increasing operating margin to 17% in FY '25 [44][70] Other Important Information - The company repurchased nearly 4.7 million shares in FY '24, returning approximately $136 million to shareholders [30] - Capital expenditures for FY '24 were nearly $200 million, representing approximately 6.9% of revenue [30] Q&A Session Summary Question: What is resonating with customers regarding Evergreen/One? - Management highlighted the SaaS-like model of Evergreen/One, which simplifies storage management and allows customers to pay only for what they use [35][46] Question: What is the outlook for RPO growth? - Management noted that the unbilled RPO component grew by 93% year-over-year, driven by strong subscription offerings [47][49] Question: How does the company view the AI market? - Management sees significant opportunities in AI, emphasizing the need for modernized data environments to support AI applications [61][124] Question: What are the expectations for FY '25 revenue growth? - Management expects to return to double-digit revenue growth, with a forecast of 10.5% growth for FY '25 [43][44] Question: How is the company positioned in the GPU cloud provider market? - Management confirmed strong engagement with a major GPU cloud provider, focusing on AI training workflows and data preparation [98][126]

Pure Storage Announces Fiscal Fourth Quarter and Full Year 2024 Financial Results FY24 TCV sales growth of Evergreen//One and Evergreen//Flex offerings exceeding 100% Q4 RPO growing 31% year-over-year SANTA CLARA, Calif. – February 28, 2024 – Today Pure Storage (NYSE: PSTG), the IT pioneer that delivers the world's most advanced data storage technology and services, announced financial results for its fiscal fourth quarter and full year 2024 ended February 4, 2024. "Our data platform strategy is revolutioni ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended November 5, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-37570 Pure Storage, Inc. (Exact Name of Registrant as Specified in its Charter) (State or other jurisdiction of incorporation or organization) FOR ...

Pure Storage, Inc. (NYSE:PSTG) Q3 2024 Earnings Conference Call November 29, 2023 5:00 PM ET Company Participants Paul Ziots - VP, IR Charlie Giancarlo - CEO Kevan Krysler - CFO Rob Lee - Chief Technology Officer Conference Call Participants Amit Daryanani - Evercore Aaron Rakers - Wells Fargo Meta Marshall - Morgan Stanley Tim Long - Barclays Krish Sankar - TD Cowen Sidney Ho - Deutsche Bank Mehdi Hosseini - Susquehanna Simon Leopold - Raymond James Nehal Chokshi - Northland Capital Market Wamsi Mohan - Ba ...