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May 08, 2022
Pure Storage Q1 2023 Earnings Report
Reported a strong start to the fiscal year with revenue growth and record operating profit.
Key Takeaways
Pure Storage announced strong Q1 fiscal year 2023 results, with revenue up 50% year-over-year. The company reported a record Q1 operating profit and raised its FY23 revenue outlook to $2.66 billion.
Revenue was $620.4 million, up 50% year-over-year.
Subscription services revenue was $219.2 million, up 35% year-over-year.
Subscription Annual Recurring Revenue (ARR) was $899.8 million, up 29% year-over-year.
GAAP operating loss was $(4.6) million; non-GAAP operating income was $85.4 million.
Pure Storage
Pure Storage
Pure Storage Revenue by Segment
Revenue by Segment
Product Revenue
CapyFin.comSubscription Services Revenue
CapyFin.com Forward Guidance
The company provided guidance for Q2 FY23 with revenue of approximately $635 million and non-GAAP operating income of $75 million. The company also raised FY23 revenue outlook to $2.66 billion and non-GAAP operating income to $320 million.
Positive Outlook
- Q2 FY23 Revenue approximately $635 Million
- Q2 FY23 Non-GAAP Operating Income $75 Million
- Q2 FY23 Non-GAAP Operating Margin approximately 11.8%
- FY23 Revenue approximately $2.66 Billion
- FY23 Non-GAAP Operating Income $320 Million
Revenue & Expenses
Visualization of income flow from segment revenue to net income