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Aug 06, 2023
Pure Storage Q2 2024 Earnings Report
Reported record sales in the FlashBlade portfolio, doubled subscription sales year-over-year for Evergreen//One, and increased operating margin annual guidance.
Key Takeaways
Pure Storage announced its Q2 Fiscal Year 2024 financial results, highlighting a revenue increase of 6.5% year-over-year and record sales in the FlashBlade portfolio. The company also doubled sales of its Evergreen//One subscription offering and raised its operating margin annual guidance.
Revenue reached $688.7 million, a 6.5% increase year-over-year.
Subscription services revenue grew to $288.9 million, up 24% year-over-year.
Subscription ARR reached $1.2 billion, a 27% increase year-over-year.
GAAP operating loss was $(6.2) million; non-GAAP operating income was $111.8 million.
Revenue by Segment
Forward Guidance
The company provided guidance for Q3 FY24, projecting revenue of $760 million and non-GAAP operating income of $135 million, with a non-GAAP operating margin of 17.8%. For the full fiscal year 2024, they anticipate mid to high single-digit revenue growth and a non-GAAP operating margin of 15.5%.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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