Pure Storage Inc Stock Price, News & Analysis

Pure Storage (NYSE: PSTG) announced that over 10 leading autonomous vehicle software development companies are utilizing its FlashBlade platform to meet the demands of storing and processing unstructured data. FlashBlade enhances performance while simplifying IT operations, driving efficiency and reducing costs. Companies are employing this technology for various applications, such as training automated vehicle systems and managing critical engineering data. This collaboration marks a significant milestone as Pure's presence in the autonomous vehicle sector reaches an all-time high.

Pure Storage (NYSE: PSTG) has released its inaugural Environmental, Social, and Governance (ESG) report, detailing its benchmarks and future goals for sustainability. The report emphasizes Pure's commitment to reducing data center carbon emissions, with customers potentially achieving up to 80% reduction in direct carbon usage through its products. Key goals include a 50% reduction in Scope 1 and 2 greenhouse gas emissions per employee by FY30, and achieving net zero emissions by FY40.

Pure Storage (NYSE: PSTG) reported robust growth in its subscription services, with Pure as-a-Service contributing 33% to total revenue, exceeding $738 million in fiscal year 2022, reflecting a 37% year-over-year increase. The service, launched in 2018, has gained global traction, making it a preferred choice for major companies like a leading logistics firm and the City of Denver. Enhancements to pricing transparency through Pure1 and customer satisfaction further bolster Pure's market position.

Pure Storage (NYSE: PSTG) announced impressive financial results for its fiscal fourth quarter and full year ending February 6, 2022. Q4 revenue reached $708.6 million, marking a 41% increase year-over-year, while full-year revenue totaled $2.18 billion, up 29%. Subscription services revenue also showcased strong growth, with Q4 and full-year increases of 42% and 37%, respectively. Operating cash flow for Q4 was $138.2 million, contributing to a total cash balance of $1.41 billion. Guidance for Q1 FY23 anticipates revenue of approximately $520 million.

Pure Storage (NYSE: PSTG) has announced a strategic engagement with Amazon Web Services (AWS) aimed at enhancing its Portworx solutions for running Kubernetes workloads. This collaboration, spanning three years, will focus on developing integrated solutions for enterprise data management, data protection, and backup services on AWS. With predictions that over 85% of organizations will utilize containerized applications by 2025, this partnership seeks to address the growing need for effective data storage solutions, including the launch of Portworx Backup as-a-Service.

Pure Storage (NYSE: PSTG) announced a conference call scheduled for March 2, 2022, at 2:30 p.m. PT to discuss its financial results for the fiscal fourth quarter and full year ending February 6, 2022. The call follows the release of the company's financial results. Investors can access the live audio broadcast on the Pure Storage Investor Relations website. Following the call, a replay will be available. Pure Storage will also participate in multiple upcoming investor conferences, enhancing investor engagement and visibility.

Kyndryl (NYSE: KD) and Pure Storage (NYSE: PSTG) have announced a global alliance to enhance IT solutions for enterprises. This partnership aims to combine Kyndryl’s IT infrastructure expertise with Pure Storage’s advanced technology for mission-critical applications. By integrating their capabilities, they intend to tackle challenges related to multicloud management and automation, providing cyber resiliency at the storage layer. The offerings will be available as-a-service, promoting flexible consumption models to optimize data management and modernization initiatives.

Pure Storage (NYSE: PSTG) announced its partnership with Meta for the AI Research SuperCluster (RSC), expected to be the world's fastest AI supercomputer. This collaboration aims to bolster Meta's AI development by enabling rapid data analysis across various formats and languages. Pure will provide essential storage solutions, including FlashArray and FlashBlade, which promise high performance and reliability for AI workloads. The partnership builds on their long-standing relationship since 2017, aiming to support Meta's vision for AI-driven applications in the metaverse.