Pure Storage Q1 2025 Earnings Report
Key Takeaways
Pure Storage announced strong first quarter fiscal 2025 results, with revenue increasing by 18% year-over-year to $693.5 million. Subscription services ARR reached over $1.4 billion, and the company is well-positioned for long-term growth with its data storage platform.
Total revenue reached $693.5 million, an 18% increase year-over-year.
Subscription services revenue grew to $346.1 million, up 23% year-over-year.
Subscription annual recurring revenue (ARR) increased to $1.4 billion, a 25% year-over-year increase.
The company reported Q1 operating cash flow of $221.5 million and free cash flow of $172.7 million.
Pure Storage
Pure Storage
Pure Storage Revenue by Segment
Forward Guidance
Pure Storage provided guidance for Q2 FY25 and full year FY25. Q2 revenue is expected to be $755 million, representing a 9.6% year-over-year growth rate, with non-GAAP operating income of $125 million and a non-GAAP operating margin of 16.6%. For FY25, revenue is projected to be $3.1 billion, a 10.5% year-over-year growth rate, with TCV sales for Evergreen//One & Evergreen//Flex subscription service offerings of $600M and non-GAAP operating income of $532 million, resulting in a 17% non-GAAP operating margin.
Positive Outlook
- Q2 FY25 Revenue is expected to be $755 million, representing a 9.6% year-over-year growth rate.
- Q2 FY25 Non-GAAP Operating Income is expected to be $125 million.
- Q2 FY25 Non-GAAP Operating Margin is expected to be 16.6%.
- FY25 Revenue is projected to be $3.1 billion, a 10.5% year-over-year growth rate.
- FY25 Non-GAAP Operating Income is expected to be $532 million, resulting in a 17% non-GAAP operating margin.
Revenue & Expenses
Visualization of income flow from segment revenue to net income