Pure Storage, a global leader in data storage and management, reported a significant turnaround in its financial performance for the second quarter of fiscal 2025, with a net income of $35.674 million compared to a net loss of $7.115 million in the same quarter of the previous year. The company's diluted net income per share also improved from a loss of $0.02 to a gain of $0.10. Total revenue for the quarter increased by 11% year-on-year to $763.771 million, driven by a 25% increase in subscription services revenue, which outpaced the 1% growth in product revenue. The United States and rest of the world markets contributed to the revenue growth with 9% and 16% increases, respectively. Other income, net, also rose significantly due to higher interest income in...Show More

Pure Storage, a global leader in data storage and management, reported a significant turnaround in its financial performance for the second quarter of fiscal 2025, with a net income of $35.674 million compared to a net loss of $7.115 million in the same quarter of the previous year. The company's diluted net income per share also improved from a loss of $0.02 to a gain of $0.10. Total revenue for the quarter increased by 11% year-on-year to $763.771 million, driven by a 25% increase in subscription services revenue, which outpaced the 1% growth in product revenue. The United States and rest of the world markets contributed to the revenue growth with 9% and 16% increases, respectively. Other income, net, also rose significantly due to higher interest income in a rising interest rate environment. Pure Storage's business development was marked by the introduction of new capabilities in its data storage platform, including the industry's first AI Storage-as-a-Service, and an expected certification as a storage solution for NVIDIA DGX SuperPOD by the end of 2024. The company's future plans include a focus on increasing demand for data storage as a service, modernizing data infrastructure with all-flash technology, supporting cloud-native applications, and addressing the acceleration in AI adoption while managing rising energy costs. Pure Storage's Subscription Annual Recurring Revenue (ARR) grew by 24% year-over-year, and the company expects its subscription services revenue to continue to grow faster than product revenue.