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Feb 02, 2020
Pure Storage Q4 2020 Earnings Report
Pure Storage achieved record bookings, revenues, and non-GAAP gross margin in Q4.
Key Takeaways
Pure Storage announced strong Q4 and full-year fiscal 2020 financial results, with Q4 revenue up 17% year-over-year and a solid execution and growth from its expanding product and subscription services portfolio.
Q4 revenue was $492.0 million, up 17% year-over-year.
Q4 GAAP gross margin was 70.8%, and non-GAAP gross margin was 72.1%.
Q4 GAAP operating loss was $0.7 million, while non-GAAP operating profit was $60.9 million.
Pure added more than 500 new customers in the quarter, reaching over 7,500 total customers.
Pure Storage
Pure Storage
Pure Storage Revenue by Segment
Forward Guidance
Pure Storage provided full-year fiscal 2021 and first-quarter fiscal 2021 guidance.
Positive Outlook
- Full-year fiscal 2021 revenue of approximately $1.90 billion
- Full-year fiscal 2021 non-GAAP gross margin of approximately 69.5%
- Full-year fiscal 2021 non-GAAP operating profit of approximately $60 million
- First-quarter fiscal 2021 revenue of approximately $365 million
- First-quarter fiscal 2021 non-GAAP gross margin of approximately 69.5%
Challenges Ahead
- First-quarter fiscal 2021 non-GAAP operating loss of approximately $40 million
Revenue & Expenses
Visualization of income flow from segment revenue to net income