Pure Storage Announces $400 Million Share Repurchase Authorization

Rhea-AI Summary

Pure Storage (NYSE: PSTG) announced on December 10, 2025 that its board approved an incremental share repurchase authorization of up to $400 million under the existing repurchase program. This authorization is in addition to about $20 million remaining under the prior $250 million program announced in February 2025.

The company said repurchases will be funded from available cash and may be executed opportunistically via open-market purchases, privately negotiated transactions, block trades, 10b5-1 plans, or other approaches. The program has no expiration date, does not obligate Pure Storage to buy shares, and may be suspended or discontinued at any time.

Positive

• $400M incremental repurchase authorization
• Repurchases to be funded from available cash
• Program no expiration date allows flexible timing

Negative

• Repurchases may be suspended or discontinued at any time
• Company is not obligated to acquire any common stock

Key Figures

Incremental buyback $400 million New authorization under existing share repurchase program

Remaining prior authorization $20 million Left under February 2025 $250M repurchase program

Prior program size $250 million Share repurchase program announced February 2025

Market Reality Check

$73.65 Last Close

Volume Volume 3,849,461 is about in line with recent activity, at 0.73x the 20-day average 5,296,303. normal

Technical Shares trade above the 200-day MA of 64.62, indicating strength versus the longer-term trend.

Peers on Argus

Peers were mixed, with HPQ up 2.38% while key storage names like SMCI, WDC, and STX were modestly negative to flat. This points to stock-specific factors rather than a broad sector move.

Historical Context

Date	Event	Sentiment	Move	Catalyst
Dec 02	Earnings results	Positive	+7.0%	Strong Q3 growth, high margins, and raised FY26 guidance.
Nov 11	Earnings call timing	Neutral	+1.3%	Announcement of Q3 earnings release date and conference call.
Nov 04	Leadership change	Positive	-3.5%	New Chief Revenue Officer and reaffirmed Q3 and FY26 guidance.
Oct 28	AI partnership	Positive	-0.1%	AI infrastructure collaboration with Cisco and NVIDIA for enterprises.
Oct 24	Industry recognition	Positive	+0.2%	Named a Leader in 2025 Gartner Magic Quadrant for IPCS.

Pattern Detected

PSTG has reacted positively to strong earnings and guidance, while strategic or leadership news has shown more mixed or slightly negative follow-through.

Recent Company History

Over the last few months, Pure Storage reported strong Q3 FY26 results on Dec 2, 2025, with revenue of $964.5M (+16% YoY), subscription ARR of $1.8B (+17% YoY), and raised full-year guidance, which coincided with a +6.97% move. Earlier, the company announced conference and earnings date details and saw a modest +1.27% reaction. Leadership changes, AI partnerships with Cisco and NVIDIA, and recognition as a Gartner Magic Quadrant Leader produced smaller and sometimes negative moves, suggesting the market responds most strongly to financial outperformance.

Market Pulse Summary

This announcement expanded Pure Storage’s capital return plans, with an additional $400 million share repurchase authorization on top of roughly $20 million left from the prior $250 million program. The buyback may be funded from existing cash and executed via open-market, block, or 10b5-1 trading plans. In context of recent strong Q3 FY26 results and raised guidance, investors may watch execution pace, overall cash generation, and any shifts in insider activity.

Key Terms

class a common stock financial

"The authorization allows Pure Storage to repurchase shares of its Class A common stock opportunistically"

Class A common stock is a category of a company’s shares that carries a specific set of ownership rights—most commonly defined voting power and claims on dividends—set out in the company’s charter. For investors it matters because the class determines how much influence you have over corporate decisions, the share’s likely dividend and trading behavior, and how it compares in value to other share classes, like choosing a particular seat with different privileges at the company’s decision-making table.

10b5-1 trading plans regulatory

"such as ... 10b5-1 trading plans, or a combination of the foregoing"

A 10b5-1 trading plan is a written, pre-set schedule that lets company insiders automatically buy or sell stock at specified times or prices, similar to setting up automatic bill payments. It matters to investors because it lowers the chance that executives are trading based on secret information and provides a clear record of planned trades, helping markets judge whether insider sales reflect business fundamentals or personal needs.

AI-generated analysis. Not financial advice.

SANTA CLARA, Calif., Dec. 10, 2025 /PRNewswire/ -- Pure Storage® (NYSE: PSTG), the IT pioneer that delivers the world's most advanced data storage technology and services, today announced that its board of directors has approved an incremental share repurchase of up to an additional $400 million under the company's existing share repurchase program.

The authorization is in addition to the approximately $20 million remaining under Pure Storage's $250 million share repurchase program announced in February 2025.

"This largest-ever share repurchase authorization for Pure Storage is a direct reflection of our strategic value, long-term trajectory, and strong financial position," said Tarek Robbiati, Chief Financial Officer, Pure Storage. "We remain committed to disciplined capital allocation and delivering shareholder value while continuing to invest in technology innovation that defines our industry leadership."

The authorization allows Pure Storage to repurchase shares of its Class A common stock opportunistically and will be funded from available cash on our balance sheet. Repurchases may be made at management's discretion from time to time on the open market through a variety of approaches, such as privately negotiated transactions, transactions structured through investment banking institutions, block purchase techniques, 10b5-1 trading plans, or a combination of the foregoing. The repurchase program does not have an expiration date, does not obligate Pure to acquire any of its common stock, and may be suspended or discontinued by the company at any time without prior notice.

Forward Looking Statement
This press release contains forward-looking statements that involve substantial risks and uncertainties, which include, but are not limited to, statements relating to the amount, timing and execution of, and other details about repurchases under the repurchase program.

Actual results may differ materially from the outcomes or results predicted, and reported results should not be considered as an indication of future performance. The potential risks and uncertainties that could cause actual results to differ from the results predicted include, among others, those risks and uncertainties included under the caption "Risk Factors" and elsewhere in our filings and reports with the U.S. Securities and Exchange Commission, which are available on our Investor Relations website at investor.purestorage.com and on the SEC website at www.sec.gov. Additional information is also set forth in our Annual Report on Form 10-K for the fiscal year ended February 2, 2025. All information provided in this release and in the attachments is as of December 10, 2025, and Pure undertakes no duty to update this information unless required by law.

About Pure Storage
Pure Storage (NYSE: PSTG) delivers the industry's most advanced data storage platform to store, manage, and protect the world's data at any scale. With Pure Storage, organizations have ultimate simplicity and flexibility, saving time, money, and energy. From AI to archive, Pure Storage delivers a cloud experience with one unified Storage-as-a-Service platform across on-premises, cloud, and hosted environments. Our platform is built on our Evergreen architecture that evolves with your business – always getting newer and better with zero planned downtime, guaranteed. Our customers are actively increasing their capacity and processing power while significantly reducing their carbon and energy footprint. It's easy to fall in love with Pure Storage, as evidenced by the highest Net Promoter Score in the industry. For more information, visit www.purestorage.com.

Pure Storage, the "P" Logo, and the marks in the Pure Storage Trademark List are trademarks or registered trademarks of Pure Storage Inc. in the U.S. and/or other countries. The Trademark List can be found at purestorage.com/trademarks. Other names may be trademarks of their respective owners.

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SOURCE Pure Storage

FAQ

What did Pure Storage (PSTG) announce on December 10, 2025?

Pure Storage announced a board-approved incremental share repurchase authorization of up to $400 million, in addition to about $20 million remaining under the prior program.

How will Pure Storage (PSTG) fund the $400 million repurchase authorization?

The company said repurchases will be funded from available cash on the balance sheet.

Will Pure Storage (PSTG) be required to buy shares under the new $400M authorization?

No; the repurchase program does not obligate the company to acquire any common stock and may be suspended or discontinued.

How may Pure Storage (PSTG) execute the share repurchases under the $400M authorization?

Repurchases may be executed opportunistically via open-market purchases, privately negotiated transactions, block trades, or 10b5-1 trading plans.

Is there an expiration date for Pure Storage's (PSTG) repurchase program?

No; the company said the repurchase program does not have an expiration date.