Pure Storage Inc Stock Price, News & Analysis

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.

Pure Storage (NYSE: PSTG) announced a conference call on November 23, 2021 at 1:30 p.m. PT to discuss its financial results for the fiscal third quarter ended October 31, 2021. The company expects Q3 results to meet or exceed previous guidance. Notably, Chief Revenue Officer Dominick Delfino is leaving, with Dan FitzSimons appointed as his successor. Pure will also participate in several upcoming investor conferences, including the Wells Fargo Virtual TMT Summit on November 30, 2021. For more details, visit Pure Storage's Investor Relations website.

Ivanti has established a new CISO Advisory Board comprising top C-suite leaders to enhance its cybersecurity measures. This initiative aims to share best practices and insights to combat evolving threats. CEO Jeff Abbott emphasized the importance of securing customer environments and aims to drive product innovation. The board will advise on new technologies, acquisitions, and provide valuable guidance based on their extensive experience in global cybersecurity. This strategic move reinforces Ivanti's commitment to creating a secure and adaptive workplace.

Pure Storage (NYSE: PSTG) has been recognized as a Leader in the Gartner Magic Quadrant for Primary Storage for the eighth consecutive year, reaffirming its strong position in the storage market. The company was noted for its robust ability to execute and comprehensive vision. Recent innovations include enhanced FlashArray solutions, new ransomware protection features, and greater leadership in as-a-Service offerings. In October 2021, Pure was also named a leader in the Magic Quadrant for Distributed File Systems & Object Storage, underscoring its significant advancements and customer satisfaction.

On October 12, 2021, at KubeCon North America, Pure Storage (NYSE: PSTG) announced the launch of PX-Backup 2.1, enhancing its Kubernetes Data Services Platform. The update offers comprehensive data protection and multi-cloud mobility. Key features include application portability across clouds, 3-2-1 backup rule support, expanded recovery options for file shares, and improved security via PX-Secure. A survey of IT professionals revealed that 58% prioritize agility and 52% resilience in deploying stateful apps on Kubernetes, with 87% anticipating increased workloads in the next year.