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Aug 03
Pure Storage Q2 2026 Earnings Report
Pure Storage reported strong Q2 2026 results with double-digit revenue growth and increased profitability.
Key Takeaways
Pure Storage exceeded revenue and operating profit expectations in Q2 2026, driven by growth in subscription services and adoption of its platform. Net income rose to $47.1 million and free cash flow reached $150.1 million.
Revenue grew 13% year-over-year to $861 million.
Subscription services revenue increased 15% YoY to $414.7 million.
GAAP net income reached $47.1 million, or $0.14 per share.
Free cash flow totaled $150.1 million, reflecting solid cash generation.
Pure Storage
Pure Storage
Pure Storage Revenue by Segment
Revenue by Segment
Product Revenue
CapyFin.comSubscription Services Revenue
CapyFin.com Forward Guidance
Pure Storage raised its full-year revenue and non-GAAP operating income guidance, citing strong demand for its data storage solutions and recurring revenue growth.
Positive Outlook
- Raised FY26 revenue guidance to $3.60B–$3.63B.
- Increased FY26 non-GAAP operating income guidance to $605M–$625M.
- Q3 revenue expected between $950M–$960M.
- Expected Q3 non-GAAP operating income of $185M–$195M.
- Continued demand for subscription and next-gen storage solutions.
Challenges Ahead
- Slight year-over-year compression in GAAP operating margin.
- Competitive pressure in enterprise storage market remains.
- Stock-based compensation continues to impact GAAP results.
- Macroeconomic and IT budget uncertainties persist.
- Potential for revenue seasonality and deal timing to affect Q3 results.
Revenue & Expenses
Visualization of income flow from segment revenue to net income