Pure Storage Inc Stock Price, News & Analysis

Pure Storage (NYSE: PSTG) has enhanced its Partner Program to align with its services-led strategy, supporting flexibility and growth for partners. Key updates include tailored selling options for cloud-native solutions, tier-based rewards for specialized partners, and simplified program requirements. The changes aim to accelerate partner success and reflect Pure's commitment to a 100% channel-led model. A webinar is scheduled for January 19, 2022, to provide further details on the updated program.

Pure Storage (NYSE: PSTG) announced that TeleMessage is utilizing Portworx Enterprise to enhance its data management and archiving services. This transition to a Kubernetes-based infrastructure aids in securing communications amid the rise of BYOD practices. TeleMessage has improved its encryption and compliance capabilities with support from Portworx and HashiCorp. The implementation, completed in three months, enables redundancy and minimizes the risk of service downtime. TeleMessage's upgraded services ensure secure data handling in compliance with various regulations including GDPR and HIPAA.

Pure Storage (NYSE: PSTG) announced significant growth within the U.S. public sector, with more than 175 federal agencies utilizing its services. The company's public sector business achieved record highs in Q3, with new clients from the Department of Treasury and Homeland Security adopting its innovative storage solutions. Demand is driven by trends in cloud transformation, ransomware, cybersecurity, and AI, supported by government relief programs. Pure's offerings position it as a leader in infrastructure modernization for federal and state agencies, enhancing their operational resilience and performance.

Pure Storage (NYSE: PSTG) announced that FlashBlade has been recognized as a leader in the 2021 Coldago Research Maps for file and object storage. This recognition reinforces FlashBlade's capability to handle unstructured data and meet enterprise needs efficiently. Notably, FlashBlade has surpassed $1 billion in sales and serves nearly 200 customers, with over 25% of Fortune 100 companies utilizing the platform. The reports evaluated 26 vendors for file storage and 17 for object storage, ranking them based on execution ability and strategic vision.

Pure Storage (NYSE: PSTG) has launched the FlashArray//XL, a new enterprise storage solution aimed at high-demand applications, demonstrating a significant 80% improvement in IOPS. This system offers up to 5.78 PB effective capacity and maintains 99.9999% availability. FlashArray//XL is designed for seamless integration with Pure Fusion, allowing for rapid app deployment and efficient workload management. The product addresses the needs of enterprises transitioning from legacy systems, as evidenced by strong pre-release orders.

Pure Storage (PSTG) announced the appointment of John Murphy, former CFO of Adobe, to its Board of Directors on December 1, 2021. Murphy brings a wealth of experience from his roles at Adobe, Qualcomm, and DIRECTV, which is expected to enhance Pure's growth trajectory as the company expands its storage as-a-service model. Concurrently, board members Mark Garrett and Anita Sands will step down on December 15, 2021, after six years of service. Pure Storage acknowledges their contributions during its formative years and is optimistic about the future.

Pure Storage (NYSE: PSTG) reported a robust Q3 FY22 with revenue reaching $562.7 million, up 37% year-over-year. Subscription Services revenue also showed strong growth at $187.8 million, a 38% increase. The company's Annual Recurring Revenue (ARR) climbed to $788.3 million, up 30%. GAAP gross margin stood at 66.6%, while non-GAAP operating income was $69.5 million. The company maintained a leading position in the Gartner Magic Quadrant for storage solutions. Guidance for Q4 predicts revenue of $630 million.

Pure Storage (NYSE: PSTG) announced that TrialStat Corporation has adopted its FlashArray and Evergreen Storage subscriptions to enhance clinical trial research. This transition allows TrialStat to achieve 300 times faster page load times compared to its previous storage solution, with access times dropping to milliseconds. The upgrade not only accelerates data management but also supports ongoing innovations, enabling real-time data analysis for clinical trials, crucial for expediting medical treatments. The Evergreen Subscription ensures uptime and seamless upgrades, reinforcing TrialStat's competitive edge in the market.

Pure Storage (NYSE: PSTG) announced its partnership with Microsoft Azure and Equinix to enhance chip design efficiency. This collaboration introduces FlashBlade at Equinix with Azure for Engineering Design Automation (EDA) workloads, providing cloud-adjacent storage capabilities. The solution addresses the increasing demand for high-performance computing amid the global chip shortage. Key benefits include simplified cloud adoption, enhanced scalability, and robust data security, enabling organizations to leverage public cloud resources while maintaining control over their data.