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Aug 07, 2022
Pure Storage Q2 2023 Earnings Report
Reported strong revenue growth and profitability in Q2 2023.
Key Takeaways
Pure Storage announced strong financial results for the second quarter of fiscal year 2023, with revenue up 30% year-over-year and record Q2 operating profit. The company also raised its full-year revenue outlook to $2.75 billion.
Revenue was $646.8 million, up 30% year-over-year.
Subscription services revenue was $232.2 million, up 35% year-over-year.
Subscription Annual Recurring Revenue (ARR) was $955.3 million, up 31% year-over-year.
GAAP operating income was $14.4 million; non-GAAP operating income was $106.0 million.
Pure Storage
Pure Storage
Pure Storage Revenue by Segment
Revenue by Segment
Product Revenue
CapyFin.comSubscription Services Revenue
CapyFin.com Forward Guidance
Pure Storage provided guidance for the third quarter and full year of fiscal 2023. They expect Q3 revenue to be approximately $670 million and full year revenue to be approximately $2.75 billion. Non-GAAP operating income is expected to be $85 million for Q3 and $390 million for the full year.
Revenue & Expenses
Visualization of income flow from segment revenue to net income