$PSTG (+2,39 %) Pure Storage reported earnings

Q3 FY2025 results ended on November 3rd 2024

- Revenue: $831.1M, +9% YoY

- Net Income: $63.6M vs $70.4M YoY

- Operating Income: $59.7M vs $74.2M YoY

- Free Cash Flow: $35.2M vs $113.4M YoY

CEO Charles Giancarlo: "Pure Storage has achieved another industry first in our journey of data storage innovation with a transformational design win for our DirectFlash technology in a top-four hyperscaler."

Revenue & Growth

- Subscription Services: $376.4M, +22% YoY

- Product Revenue: $454.7M, flat YoY

- Subscription ARR: $1.6B, +22% YoY

- Remaining Performance Obligations: $2.4B, +16% YoY

Profits & Financials

- GAAP Gross Margin: 70.1%

- Non-GAAP Gross Margin: 71.9%

- GAAP Operating Margin: 7.2%

- Non-GAAP Operating Margin: 20.1%

- Total Cash & Investments: $1.6B

Business Highlights

- Won design win with top-four hyperscaler for DirectFlash technology

- Expanded collaboration with Kioxia for NAND Flash technology

- FlashBlade//S500 certified with NVIDIA DGX SuperPOD

- Strategic partnership with CoreWeave for AI customers

- Returned $182M via share repurchases (3.6M shares)

Future Outlook

- Q4 Revenue: $867M, +9.7% YoY expected

- Q4 Non-GAAP Operating Income: $135M

- FY25 Revenue: $3.15B, +11.5% YoY expected

- FY25 Non-GAAP Operating Margin: 17%