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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
Revenue by Segment
Product Revenue
CapyFin.comSubscription Services Revenue
CapyFin.com 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