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Oct 31, 2021
Pure Storage Q3 2022 Earnings Report
Pure Storage's financial performance exceeded expectations, driven by strong revenue growth and increasing profitability.
Key Takeaways
Pure Storage reported a strong Q3 with revenue up 37% year-over-year and increasing profitability. The company raised its FY22 revenue outlook to $2.1 billion.
Revenue reached $562.7 million, a 37% increase year-over-year.
Subscription Services revenue grew to $187.8 million, up 38% year-over-year.
Subscription Annual Recurring Revenue (ARR) was $788.3 million, a 30% increase year-over-year.
The company was positioned as a leader in Gartner Magic Quadrants for Primary Storage Arrays and Distributed File Systems and Object Storage.
Pure Storage
Pure Storage
Pure Storage Revenue by Segment
Revenue by Segment
Product Revenue
CapyFin.comSubscription Services Revenue
CapyFin.com Forward Guidance
The company provided guidance for Q4 FY22 with revenue of $630 million and non-GAAP operating income of $90 million and for FY22 with revenue of $2.1 billion and non-GAAP operating income of $206 million.
Positive Outlook
- Q4 revenue guidance of $630 million.
- FY22 revenue outlook of $2.1 billion.
- Q4 non-GAAP operating income guidance of $90 million.
- FY22 non-GAAP operating income outlook of $206 million.
- Q4 non-GAAP operating margin approximately 14%.
Revenue & Expenses
Visualization of income flow from segment revenue to net income