Summary by Moomoo AI
Pure Storage reported strong Q2 fiscal 2025 results with total revenue increasing 11% year-over-year to $763.8 million. Product revenue grew marginally to $402.6 million while subscription services revenue surged 25% to $361.2 million. Subscription Annual Recurring Revenue (ARR) reached $1.51 billion, up 24% from the prior year.The company demonstrated solid profitability with a GAAP net income of $35.7 million compared to a net loss of $7.1 million in Q2 fiscal 2024. Gross margin remained stable at 71% while operating margin improved to 3.3%. Cash flow from operations was robust at $448.1 million for the first half of fiscal 2025, up significantly from $274.9 million in the prior year period.Looking ahead, Pure Storage continues to expand its AI capabilities, introducing Evergreen//One for AI as the industry's first AI Storage-as-a-Service offering. The company maintained strong liquidity with cash and investments of $1.8 billion at quarter end. Management expects continued growth in subscription services revenue as more customers adopt their Evergreen subscription offerings.
