Pure Storage Inc Stock Price, News & Analysis

Pure Storage (NYSE: PSTG) announced a collaboration with VMware to launch a new Pure Validated Design (PVD) aimed at providing a comprehensive solution for deploying data-rich workloads on VMware Tanzu. This partnership enhances operational capabilities for stateful applications, ensuring better data management through Portworx features such as replication, disaster recovery, and security. The new PVD facilitates Kubernetes storage management and supports the modernization of core applications, helping organizations implement cloud-native solutions more effectively.

Pure Storage unveiled major advancements on Sept. 28, 2021, aimed at transforming data infrastructure and application management. Key announcements include Pure Fusion, a self-service storage-as-code platform, and Portworx Data Services, simplifying the deployment of database services on Kubernetes. These innovations enhance automation, cloud-like scalability, and improve IT operational efficiency.

Pure Storage (NYSE: PSTG) announced the launch of Portworx Data Services, the first Database-as-a-Service (DBaaS) platform for Kubernetes, on Sept. 28, 2021. This automated DBaaS management solution aims to simplify the complexity of deploying and managing numerous data services across various environments, allowing DevOps teams to focus on innovation rather than operations. The platform supports an extensive range of data services and provides essential capabilities like backup, high availability, and data security. Early access is available now, with general availability expected in early 2022.

Pure Storage (NYSE: PSTG) has launched Pure Fusion, an autonomous storage platform designed for seamless integration in multi-cloud environments. With features like infinite scale-out and cloud self-service, Pure Fusion aims to eliminate manual backend processes and optimize workload management. This innovative platform will be available for preview by the end of 2021, with general availability expected in the first half of 2022. Pure Fusion is positioned to enhance the speed and flexibility IT leaders seek, providing a storage-as-code experience that aligns with modern enterprise needs.

Pure Storage (NYSE: PSTG) announced the appointment of Mallun Yen to its Board of Directors on September 14, 2021. Yen, known for her diverse experience in SaaS and IP, will also join the nominating and corporate governance committee. Charles Giancarlo, Chairman and CEO, emphasized Yen's leadership skills, noting the company's strong execution and innovation cycle. Previously, Yen was the COO at SaaStr and held significant roles at Cisco. She aims to contribute to Pure's growth while continuing its customer-focused innovation.

Pure Storage (NYSE: PSTG) announced that DC BLOX has adopted FlashBlade, its unified fast file and object storage solution, delivered via Pure as-a-Service. This partnership aims to address the storage demands of regional life sciences organizations, enabling them to process large genomic workloads efficiently. DC BLOX's customers require rapid access to vast data volumes, and FlashBlade provides a resilient, cost-effective infrastructure for this purpose. Furthermore, DC BLOX will utilize Evergreen Storage to upgrade its infrastructure seamlessly.

Pure Storage (NYSE: PSTG) announced details for its 2021 Financial Analyst Day, now a live webcast, on September 28, 2021, from 12:00 pm PT to 2:00 pm PT (3:00 pm ET to 5:00 pm ET). The leadership team will discuss the company's vision, strategy, and financial outlook, followed by a Q&A session. Interested participants can register for the event on the company's website, and a replay will be available for 90 days post-event. Pure Storage focuses on delivering a modern data experience and achieving high customer satisfaction.

Pure Storage (NYSE: PSTG) announced that Olympus, a leader in medical devices, selected its AIRI architecture for AI development. This decision enhances Olympus's capability to manage large datasets efficiently for AI and machine learning applications. The infrastructure, combining FlashBlade and NVIDIA DGX-1, supports scalable, high-performance data management. Key benefits include on-demand storage provisioning, improved resource efficiency, and rapid development environment setup, which accelerates time to market for healthcare innovations.

Pure Storage (NYSE: PSTG) reported strong financial results for Q2 fiscal 2022, ending August 1, 2021. Revenue reached $496.8 million, up 23% year-over-year, with subscription services revenue at $171.9 million, a 31% increase. The GAAP operating loss was $(33.9) million, while non-GAAP operating income stood at $46.6 million. Operating cash flow was $123.4 million and free cash flow $95.7 million. Guidance for Q3 is $530 million in revenue and $40 million in non-GAAP operating income.