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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.
Revenue by Segment
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
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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