Pure Storage Q2 2025 Earnings Report
Key Takeaways
Pure Storage announced strong financial results for Q2 fiscal year 2025. Total revenue increased by 11% year-over-year, with subscription services ARR growing by 24% year-over-year. The company's platform innovation and ESG leadership were also highlighted.
Total revenue reached $763.8 million, an 11% increase year-over-year.
Subscription services revenue grew to $361.2 million, a 25% increase year-over-year.
Subscription ARR reached $1.5 billion, reflecting a 24% year-over-year growth.
GAAP operating income was $24.9 million, while non-GAAP operating income was $138.6 million.
Pure Storage
Pure Storage
Pure Storage Revenue by Segment
Forward Guidance
Pure Storage provided guidance for Q3 FY25 and full year FY25, including revenue, revenue YoY growth rate, Non-GAAP operating income, and Non-GAAP operating margin.
Positive Outlook
- Q3 FY25 Revenue: $815M
- Q3 FY25 Revenue YoY Growth Rate: 6.8%
- Q3 FY25 Non-GAAP Operating Income: $140M
- Q3 FY25 Non-GAAP Operating Margin: 17.2%
- FY25 Revenue: $3.1B
Challenges Ahead
- FY25 Revenue YoY Growth Rate: 10.5%
- TCV Sales for Subscription-as-a-Service Offerings: $500M
- TCV Sales for Subscription-as-a-Service Offerings YoY Growth Rate: Approximately 25%
- FY25 Non-GAAP Operating Income: $532M
- FY25 Non-GAAP Operating Margin: 17%
Revenue & Expenses
Visualization of income flow from segment revenue to net income