Pure Storage(US:PSTG)2026-02-25 21:06Revenue Growth - Full year 2026 revenue surpassed $3.6 billion, representing a growth of 16% year-over-year[1] - Q4 revenue reached $1.1 billion, up 20% year-over-year, marking the first billion-dollar revenue quarter for the company[3] - For FY27, the company projects revenue between $4.3 billion and $4.4 billion, with a year-over-year growth rate of 17% to 20%[7] - Total revenue for fiscal year 2026 reached $3,662,843, an increase of 15.6% compared to $3,168,164 in fiscal year 2025[27] Profitability Metrics - Q4 GAAP gross margin was 69.9%, while non-GAAP gross margin was 71.4%[3] - Net income for the fourth quarter of fiscal year 2026 was $100,252, representing a 135.5% increase from $42,435 in the fourth quarter of fiscal year 2025[27] - Gross profit for fiscal year 2026 was $2,577,953, up 16.5% from $2,212,709 in fiscal year 2025[27] - The operating income for Q4 2026 was $87,198 thousand, with a non-GAAP operating margin of 8.2%, while in Q4 2025 it was $138,495 thousand with a margin of 21.3%[34] - Net income for Q4 2026 was $100,252 thousand, with diluted earnings per share of $0.29, compared to $153,208 thousand and $0.45 in Q4 2025[34] Cash Flow and Investments - Operating cash flow for FY26 was $880 million, with free cash flow of $616 million[3] - Free cash flow for Q4 2026 was $201,447 thousand, an increase from $152,422 thousand in Q4 2025[39] - The company reported net cash provided by operating activities of $267,999 thousand in Q4 2026, up from $208,508 thousand in Q4 2025[39] - The fiscal year 2026 saw net cash provided by operating activities of $880,085 thousand, compared to $753,598 thousand in fiscal year 2025[39] - The company experienced a net cash used in investing activities of $108,069 for fiscal year 2026, a decrease from $218,200 in fiscal year 2025[29] Assets and Liabilities - Total assets increased to $4,674,259 in fiscal year 2026, up 18% from $3,963,942 in fiscal year 2025[25] - Total liabilities rose to $3,228,591 in fiscal year 2026, an increase of 21.4% from $2,657,467 in fiscal year 2025[25] - The company reported a total stockholders' equity of $1,445,668 for fiscal year 2026, up from $1,306,475 in fiscal year 2025, marking an increase of 10.6%[25] Research and Development - Research and development expenses for fiscal year 2026 totaled $963,291, an increase of 19.7% compared to $804,405 in fiscal year 2025[27] New Initiatives - The company introduced the Enterprise Data Cloud (EDC), enhancing data management capabilities across various environments[8] - A definitive agreement was announced to acquire 1touch, aimed at advancing data management capabilities[8] Performance Obligations - Remaining performance obligations (RPO) grew to $3.7 billion, up 40% year-over-year[3]