Q1 Fiscal 2026 Financial Results May 28, 2025 Forward Looking Statements and Non-GAAP Information This presentation contains forward-looking statements regarding our products, business and operations, including but not limited to our views relating to our opportunity relating to hyperscale and AI environments, our ability to meet hyperscalers' performance and and price requirements, our ability to meet the needs of hyperscalers for the entire spectrum of their online storage use cases, the timing and magnit ...

Core Insights - Pure Storage reported a total revenue growth of 12% year-over-year for Q1 FY26, reaching $778.5 million [1][8] - The company's Storage as a Service offerings saw a significant TCV sales growth of 70% [1] - Subscription services revenue increased by 17% year-over-year, totaling $406.3 million, with an annual recurring revenue (ARR) of $1.7 billion, up 18% [8] Financial Highlights - Q1 FY26 non-GAAP operating income was $82.7 million, with a non-GAAP operating margin of 10.6% [8] - The company provided guidance for Q2 FY26 revenue at $845 million, reflecting a year-over-year growth rate of 10.6% [5] - For FY26, Pure Storage anticipates total revenue of $3.515 billion, representing an 11% year-over-year growth [5] Leadership Update - Kevan Krysler, the CFO, announced his departure after over five years, contributing to the growth of the business to over $3 billion in revenue [3][4] Cash Flow and Shareholder Returns - Operating cash flow for Q1 FY26 was $283.9 million, with free cash flow of $211.6 million [8][29] - The company returned approximately $120 million to shareholders through share repurchases of 2.5 million shares [8] Key Performance Metrics - Remaining performance obligations (RPO) increased by 17% year-over-year, totaling $2.7 billion [8] - GAAP gross margin was reported at 68.9%, while non-GAAP gross margin stood at 70.9% [8]