Pure Storage Inc Stock Price, News & Analysis

Pure Storage has unveiled its new modular architecture, the FlashBlade//S family, designed to accommodate diverse workloads with enhanced scalability, performance, and power efficiency. The platform separates compute from capacity, allowing upgrades without interruptions and meeting modern storage demands effectively. The FlashBlade//S emphasizes sustainability with improvements in space efficiency, and future-proofing through its Evergreen subscription model. General availability is set for Q2 FY23.

Pure Storage (NYSE: PSTG) has unveiled its new fleet-level architecture, Evergreen//Flex, at the Pure//Accelerate® techfest22 in Los Angeles. This innovative system enhances storage efficiency by allowing enterprises to optimize stranded storage capacity, promoting flexibility and effective resource utilization. The expansion reinforces Pure's Evergreen portfolio, including Evergreen//Forever and Evergreen//One, which focus on subscription-based models to simplify data storage management. With over 10,000 non-disruptive upgrades to date, Pure emphasizes modern consumption-based storage solutions for organizations.

Pure Storage (NYSE: PSTG) has announced the launch of AIRI//S, a next-generation AI-ready infrastructure developed in collaboration with NVIDIA. This innovative platform simplifies and scales AI data pipelines, enabling enterprises to enhance their AI initiatives. AIRI//S features advanced performance, power efficiency, and scalability, supporting diverse workloads from startups to large organizations. With Evergreen models for flexible consumption, this solution addresses the common challenges of traditional AI infrastructures, driving faster insights and greater efficiency.

At Pure//Accelerate techfest22, Pure Storage (NYSE: PSTG) honored six customers with the Breakthrough Awards for their exceptional use of Pure's data storage technology. Companies like Barclays, Ford, and SiriusXM were recognized for innovation and success amidst global challenges, emphasizing sustainability. Notable achievements include SiriusXM's total migration to Pure's infrastructure, Barclays' 99.9999% storage uptime, and Ford's cloud-native strategies using Portworx. The awards highlight how Pure's offerings empower organizations to enhance performance and efficiency.

Pure Storage (PSTG) reported a remarkable 50% year-over-year revenue growth for its fiscal Q1 2023, totaling $620.4 million. Subscription services revenue rose by 35% to $219.2 million, while Subscription Annual Recurring Revenue (ARR) increased 29% to $899.8 million. The company raised its FY23 revenue outlook to $2.66 billion. Despite a GAAP operating loss of $(4.6) million, non-GAAP operating income reached $85.4 million. Pure also returned $66 million to stockholders in Q1 through share repurchases.

Pure Storage (NYSE: PSTG) announced advancements to its Portworx portfolio aimed at enhancing data services for DevOps teams. Key updates include the general availability of Portworx Data Services, the first Kubernetes Database-as-a-Service platform, and the next generation of Portworx Enterprise, a comprehensive data management solution for Kubernetes applications. Additionally, Portworx Backup-as-a-Service has been launched to simplify data protection for various Kubernetes services. These developments are expected to improve operational efficiency and support critical databases.

Pure Storage (NYSE: PSTG) has announced a conference call set for June 1, 2022, at 1:30 p.m. PT, to discuss its financial results for the first fiscal quarter ending May 8, 2022. This follows the upcoming release of their financial figures. The call will be accessible via the Pure Storage Investor Relations website, with a replay available for two weeks post-call. Additionally, Pure Storage will participate in several investor conferences, showcasing its commitment to transparency and investor engagement.

Pure Storage (NYSE: PSTG) and Snowflake (NYSE: SNOW) announced a partnership aimed at enhancing data accessibility for customers managing on-premises data. The solution combines Pure Storage FlashBlade's capabilities with the Snowflake Data Cloud, allowing users to analyze multiple data sources without creating separate data copies. This collaboration is expected to commence public preview in the second half of 2022, helping organizations leverage local data while utilizing advanced analytics and governance features from Snowflake.