Pure Storage Q2 2022 Earnings Report
Key Takeaways
Pure Storage announced its Q2 fiscal year 2022 financial results, reporting a 23% year-over-year increase in revenue and the highest Q2 operating profit in the company's history. Subscription services revenue also grew significantly, up 31% year-over-year. The company raised its full-year revenue outlook to $2.04 billion.
Total revenue grew 23% year-over-year.
Subscription services revenue increased by 31% year-over-year.
GAAP operating loss was $(33.9) million, while non-GAAP operating income was $46.6 million.
The company saw continued strength and momentum in Subscription Services revenue, up 31% year-over-year with strong growth in Pure as-a-Service, which almost doubled revenues compared to the prior year.
Pure Storage
Pure Storage
Pure Storage Revenue by Segment
Forward Guidance
Pure Storage provided guidance for Q3 and full-year fiscal 2022. They expect Q3 revenue of $530 million and non-GAAP operating income of $40 million. For the full year, they anticipate revenue of $2.04 billion and non-GAAP operating income of $150 million.
Positive Outlook
- Q3 Revenue Guidance: $530 million
- Q3 Non-GAAP Operating Income Guidance: $40 million
- FY22 Revenue Guidance: $2.04 billion
- FY22 Non-GAAP Operating Income Guidance: $150 million
- Raised FY22 revenue outlook to $2.04 Billion
Revenue & Expenses
Visualization of income flow from segment revenue to net income