Pure Storage Inc - PSTG STOCK NEWS

Pure Storage (NYSE: PSTG) has announced Pure Storage Cloud for Microsoft Azure VMware Solution (AVS), a pioneering fully-managed block storage-as-a-service offering for AVS. This Azure Native integration service allows customers to use services against existing Microsoft Azure Consumption Commitments while providing seamless management across Azure Portal and Pure Storage environments.

The solution enables enterprises to migrate VMware workloads to Azure cloud with potential cost savings of up to 40%. Key features include support for VMware vSphere Storage APIs, improved cost efficiencies, enterprise-grade data resilience with Pure Storage SafeMode Snapshots, and reduced storage complexity through decoupled compute and storage.

Pure Storage has announced the modernization of AC Milan's IT infrastructure, enabling significant improvements in content production and AI capabilities. The football club implemented Pure Storage Platform to enhance fan engagement through its Media House and improve team performance through data analytics. Key achievements include 10x faster content production and delivery, reaching over 500 million global fans through enhanced digital experiences. The solution provides enhanced data security with ActiveDR™ and SafeMode™ Snapshots for ransomware protection. The platform also supports AI analysis of training footage and player data, contributing to a comprehensive data lake for performance optimization.

Pure Storage (NYSE: PSTG) has been named a Leader in the 2024 Gartner Magic Quadrant for File and Object Storage Platforms for the fourth consecutive year. The company's platform addresses the challenges of managing unstructured data in the era of AI, analytics, and IoT. Key features include:

1. Efficient and reliable platform with up to 5x less energy consumption and 95% less e-waste than disk-based systems.

2. Real-Time Enterprise File services for dynamic adaptation to modern application demands.

3. FlashBlade//S100, an AI-ready platform for entry-level enterprise use cases.

4. AI-powered anomaly detection for identifying threats and unusual activity.

5. Expanded cyber recovery and resilience SLA through Evergreen//One.

Pure Storage boasts a 4.7/5 rating on Gartner Peer Insights, with 96% of reviewers willing to recommend the platform.

Rubrik (NYSE: RBRK) and Pure Storage (NYSE: PSTG) have partnered to offer a comprehensive cyber resilience solution that combines primary storage, data security, and long-term retention. This partnership addresses challenges faced by organizations due to exponential data growth, including performance bottlenecks, lack of data visibility, and increasing cyber threats.

The solution provides a three-layered defense strategy:

• Rapid Recovery: Pure Storage Platform uses immutable snapshots for near-zero Recovery Time Objective
• Data Security: Rubrik Security Cloud offers a cyber resilience platform with additional capabilities
• Archival Location: Pure Storage Platform supports cost-effective, scalable storage for extended periods

This partnership aims to strengthen defenses and provide businesses with a robust, adaptive framework for true cyber resilience in an increasingly complex cybersecurity landscape.

Pure Storage (NYSE:PSTG) has announced new innovations to its storage platform, including Real-time Enterprise File, a dynamic file service that adapts in real-time to meet modern application demands. The company also introduced a VM assessment tool and Universal Credits, extending its Storage-as-a-Service (STaaS) leadership.

Key features of Real-time Enterprise File include:

• Real-time agility across all storage resources
• Zero-Move Tiering for performance adjustments without data movement
• Non-disruptive upgrades for hardware and software
• New FlashBlade//S100 for cost-sensitive workloads
• Cloud-like operations and AI Copilot for simplified management

The VM Assessment offers performance monitoring and optimization recommendations, while Universal Credits provide financial flexibility across various Pure Storage services.

Pure Storage (NYSE: PSTG) has been recognized as a Leader in the 2024 Gartner Magic Quadrant for Primary Storage Platforms, positioned highest on the Ability to Execute axis and furthest on the Completeness of Vision axis. This marks the fifth consecutive year Pure Storage has held this position and the eleventh consecutive year as a Gartner Magic Quadrant Leader.

The Pure Storage Platform has introduced several innovations over the past year, including:

• First Purpose-Built AI Storage-as-a-Service: Evergreen//One for AI
• First-of-its-Kind Storage Automation: Pure Fusion
• First Generative AI Copilot for Storage
• Intelligence-Driven Security Assessment
• Industry-First Paid Power and Rack Commitment

Pure Storage's platform aims to address challenges in scaling AI initiatives, defending against cyber threats, and managing energy consumption.

Pure Storage (NYSE: PSTG) announced strong financial results for Q2 fiscal 2025, with total revenue growing 11% year-over-year to $763.8 million. Subscription services revenue increased 25% to $361.2 million, while subscription ARR grew 24% to $1.5 billion. The company reported a GAAP gross margin of 70.7% and non-GAAP gross margin of 72.8%. Operating cash flow was $226.6 million, with free cash flow of $166.6 million.

Pure Storage highlighted its platform innovation, including new AI storage as-a-service capabilities and enhancements to Pure Fusion. The company also emphasized its ESG leadership, noting that its platform requires up to 10x less energy than mechanical disk storage and 5x less than SSDs. For Q3 FY25, Pure Storage projects revenue of $815 million and a non-GAAP operating margin of 17.2%.

Pure Storage (NYSE: PSTG) has joined the Ultra Ethernet Consortium (UEC), a Linux Foundation initiative aimed at developing an open Ethernet-based architecture for AI and HPC applications. As a leading data storage platform for enterprise AI, Pure Storage will contribute to defining UEC technology standards and deliver a forward-compatible platform optimized for AI and HPC workloads using Ethernet.

The move aims to address challenges in existing network solutions, offering a scalable and efficient alternative to support AI innovation. Key benefits include faster time to innovation, cost-effective operations, and enhanced customer choice between IB and Ethernet networks. This collaboration with industry leaders is expected to accelerate platform development and support UEC standards long-term, ultimately empowering organizations to meet the growing demands of AI and HPC.

Pure Storage (NYSE: PSTG), a leader in advanced data storage technology and services, has announced its upcoming financial results release and conference call for the second quarter fiscal year 2025, ending August 4, 2024. The conference call is scheduled for Wednesday, August 28 at 2:00 p.m. PT. Investors can access the live audio broadcast on Pure Storage's Investor Relations website, with a replay available for two weeks.

Additionally, Pure Storage will participate in the Goldman Sachs Communacopia + Technology Conference on Wednesday, September 11, 2024, at 12:25 p.m. PT. Chairman and CEO Charles Giancarlo and CFO Kevan Krysler will represent the company. This presentation will also be webcast live and archived on the company's Investor Relations website.