On August 28, 2024, Pure Storage, Inc. reported its financial results for the second quarter of fiscal year 2025, which ended on August 4, 2024. The company announced an 11% year-over-year increase in revenue to $763.8 million, with subscription services revenue growing by 25% to $361.2 million. Pure Storage's subscription annual recurring revenue (ARR) reached $1.5 billion, marking a 24% increase from the previous year. The company's remaining performance obligations (RPO) also saw a 24% year-over-year increase, totaling $2.3 billion. Pure Storage reported a GAAP gross margin of 70.7% and a non-GAAP gross margin of 72.8%. GAAP operating income was $24.9 million, while non-GAAP operating income stood at $138.6 million. The company's GAAP operating margin was 3.3%, with a non-GAAP operating margin of 18.1%. Operating cash flow for the...Show More

On August 28, 2024, Pure Storage, Inc. reported its financial results for the second quarter of fiscal year 2025, which ended on August 4, 2024. The company announced an 11% year-over-year increase in revenue to $763.8 million, with subscription services revenue growing by 25% to $361.2 million. Pure Storage's subscription annual recurring revenue (ARR) reached $1.5 billion, marking a 24% increase from the previous year. The company's remaining performance obligations (RPO) also saw a 24% year-over-year increase, totaling $2.3 billion. Pure Storage reported a GAAP gross margin of 70.7% and a non-GAAP gross margin of 72.8%. GAAP operating income was $24.9 million, while non-GAAP operating income stood at $138.6 million. The company's GAAP operating margin was 3.3%, with a non-GAAP operating margin of 18.1%. Operating cash flow for the quarter was $226.6 million, and free cash flow was $166.6 million. Pure Storage ended the quarter with $1.8 billion in total cash, cash equivalents, and marketable securities. The company highlighted its platform innovation, ESG leadership, and momentum in enterprise AI as key achievements of the quarter. Pure Storage also provided guidance for the third quarter and full fiscal year 2025, expecting revenue growth rates of 6.8% and 10.5%, respectively, and non-GAAP operating income of $140 million for Q3 and $532 million for the full year.