Pure Storage Inc Stock Price, News & Analysis

Pure Storage (NYSE: PSTG) announced its upcoming Financial Analyst Day on September 28, 2021, starting at 9:30 am PT / 12:30 pm ET. The event will take place at the New York Stock Exchange and will also be available via live webcast. Attendees can expect presentations by the leadership team on company strategy, vision, and financial outlook, followed by a Q&A session. Registration details can be found on Pure Storage's website. A replay of the event will be accessible for 90 days post-event.

Pure Storage (NYSE: PSTG) has announced an expansion of its subscription services portfolio with the introduction of FlashStack as-a-Service and Portworx Cloud Consumption. These offerings aim to enhance customer flexibility in a multi-cloud environment. FlashStack integrates on-premises and multi-cloud infrastructures, while Portworx allows customers to purchase usage hours rather than fixed licenses, reducing costs. The demand for flexible consumption models is increasing, with Pure's as-a-Service solutions meeting evolving business needs.

On July 13, 2021, Pure Storage (NYSE: PSTG) announced significant growth in its Evergreen™ Storage program, with over 2,700 customers having completed non-disruptive storage upgrades. The average number of upgrades has increased by 38% year-over-year for five years. In FY 2022 Q1, subscription services revenue rose by 35%. Evergreen simplifies storage upgrades and reduces costs, aligning with the shift towards subscription-based storage as-a-service solutions, which enhance operational agility and minimize planned maintenance impacts.

Pure Storage (NYSE: PSTG) has been recognized as the leader in the GigaOm Radar Report for Enterprise Kubernetes Storage and Cloud-Native Kubernetes Data Storage. The reports highlight the company’s robust storage solutions and the effective integration of Portworx, acquired in October 2020. Pure Storage’s offerings were praised for their comprehensive features, exceptional data management capabilities, and compatibility with Kubernetes, reflecting its strong market position. This recognition marks the fifth and sixth time Pure Storage has been acknowledged as a leader by GigaOm.

Pure Storage (NYSE: PSTG) reported a strong fiscal Q1 2021, achieving $412.7 million in revenue, a 12% increase year-over-year. Subscription services revenue surged 35% to $162.8 million. The company experienced a GAAP gross margin of 68.3% and a non-GAAP operating income of $0.3 million. Operationally, it generated $21.4 million in cash flow while reporting total cash and investments of $1.2 billion. Looking ahead, Q2 FY22 guidance is set at $470 million in revenue and $15 million in non-GAAP operating income.

Pure Storage (NYSE: PSTG) announced winners of its inaugural Breakthrough Awards at the Pure//Accelerate Digital event on May 14, 2021. These awards celebrate customers demonstrating innovation and success with Pure's offerings. Out of over 8,000 global customers, notable awardees include ServiceNow, Roblox, and Nanyang Technological University. Key achievements include ServiceNow's all-flash data center transformation and Roblox's scalable cloud strategy. Joe Pinto, Chief Customer Experience Officer, expressed pride in the customers’ accomplishments and their impact on modern data experiences.

Pure Storage (NYSE: PSTG) unveiled the enhanced Pure1 Digital Experience at Pure//Accelerate™ Digital on May 13, 2021. This upgrade offers automated monitoring, AI-driven recommendations, and self-service management to streamline IT management. The AI-engine Meta provides predictive service management, ensuring proactive issue resolutions. Customers gain improved control over their resources, including on-premises and hybrid cloud storage. The new features are designed to optimize user experience and operational efficiency. Access to Pure1 is available at no extra cost.