Pure Storage Named a Top 5 Vendor in Latest Quarterly Enterprise Storage Systems Report

Pure Storage (NYSE: PSTG) significantly outperformed the external storage market in IDC's Q1 2020 report, with a 7.7% year-over-year revenue growth compared to an overall market decline of 8.2%.

Rhea-AI Summary

Pure Storage (NYSE: PSTG) significantly outperformed the external storage market in IDC's Q1 2020 report, with a 7.7% year-over-year revenue growth compared to an overall market decline of 8.2%. The company's revenue reached $367.1 million, marking a 12% increase. Subscription Services revenues surged by 37%, driven by offerings like Evergreen and Pure as-a-Service. The all-flash array segment was the only one to grow, while other storage types saw substantial declines. Pure was recognized as a top five vendor in external OEM storage.

Positive

• 7.7% revenue growth year-over-year compared to a market decline of 8.2%.
• Total revenue of $367.1 million, up 12% year-over-year.
• 37% increase in Subscription Services revenue.

Negative

• None.

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MOUNTAIN VIEW, Calif., June 15, 2020 /PRNewswire/ -- Pure Storage (NYSE: PSTG), the IT pioneer that delivers storage as-a-service in a multi-cloud world, today said it significantly outperformed the external storage market in the latest IDC Worldwide Quarterly Enterprise Storage Systems Tracker (Q1 2020) and is a top five vendor in the external OEM storage space.

According to IDC, Pure's storage revenue grew 7.7% year-over-year in the first quarter in a market that shrank 8.2% overall. The all-flash array segment was the only external storage area to show growth in the IDC quarterly survey, with hard-drive storage plunging 18% and hybrid arrays shrinking 11.5%.

"We are extremely proud of Pure's results and standing in the latest IDC Worldwide Quarterly Enterprise Storage Systems Tracker," said Charles Giancarlo, Chairman and CEO, Pure Storage. "Our momentum clearly demonstrates that our customers value and depend on the simplicity, reliability and flexibility of Pure and our solutions, especially in this critical time."

In its recent first quarter earnings report, Pure reported revenue of $367.1 million, up 12% year-over-year, with 37% gains in Subscription Services revenue which includes its Evergreen, Pure as-a-Service and Cloud Block Store offerings.

About Pure Storage

Pure Storage (NYSE: PSTG) gives technologists their time back. Pure delivers a modern data experience that empowers organizations to run their operations as a true, automated, storage as-a-service model seamlessly across multiple clouds. One of the fastest-growing enterprise IT companies in history, Pure helps customers put data to use while reducing the complexity and expense of managing the infrastructure behind it. And with a certified customer satisfaction score in the top one percent of B2B companies, Pure's ever-expanding list of customers are among the happiest in the world.

Analyst Recognition: Pure Storage has been named a Leader in the 2019 Gartner Magic Quadrant for Primary Storage.

Pure Storage, the "P" Logo, Evergreen, FlashArray, FlashBlade, Pure as-a-Service, Pure Cloud Block Store and Pure1 are trademarks or registered trademarks of Pure Storage, Inc. All other trademarks or names referenced in this document are the property of their respective owners.

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SOURCE Pure Storage

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What are the recent revenue figures for Pure Storage (PSTG)?

Pure Storage reported revenue of $367.1 million for Q1 2020, up 12% year-over-year.

How did Pure Storage (PSTG) perform in the IDC Q1 2020 report?

Pure Storage outperformed the external storage market with a 7.7% revenue growth, while the market overall shrank by 8.2%.

What growth did Pure Storage (PSTG) see in Subscription Services revenue?

Subscription Services revenue grew by 37% in the recent quarter.

Where does Pure Storage (PSTG) rank in the external OEM storage space?

Pure Storage is recognized as a top five vendor in the external OEM storage market according to IDC.