$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%