Summary by Moomoo AI
On May 29, 2024, Pure Storage, Inc. reported its financial results for the first quarter of fiscal year 2025, which ended on May 5, 2024. The company announced an 18% year-over-year increase in total revenue, reaching $693.5 million. Subscription services revenue grew by 23% to $346.1 million, while subscription annual recurring revenue (ARR) rose to $1.4 billion, marking a 25% increase from the previous year. Pure Storage also reported a 27% increase in remaining performance obligations (RPO), totaling $2.3 billion. The company's GAAP gross margin was 71.5%, with a non-GAAP gross margin of 73.9%. Despite a GAAP operating loss of $41.8 million, the non-GAAP operating income was $100.4 million. The company highlighted a strong cash flow performance, with $221.5 million in operating cash flow and $172.7 million in free cash flow. Pure Storage's...Show More
