Pure Storage Q4 2022 Earnings Report
Key Takeaways
Pure Storage announced strong financial results for Q4 2022, with a 41% year-over-year increase in revenue, reaching $708.6 million. The company's subscription services also saw substantial growth, with ARR up 31% year-over-year to $848.8 million. Pure Storage surpassed 10,000 customers and continued to innovate its portfolio.
Q4 revenue increased by 41% year-over-year, reaching $708.6 million.
Subscription services revenue grew by 42% year-over-year in Q4, totaling $216.0 million.
Subscription ARR reached $848.8 million, a 31% increase year-over-year.
GAAP operating income for Q4 was $29.8 million, while non-GAAP operating income was $118.7 million.
Pure Storage
Pure Storage
Pure Storage Revenue by Segment
Forward Guidance
Pure Storage provided guidance for Q1 FY23 and full year FY23, expecting revenue of approximately $520 million for Q1 and approximately $2.6 billion for the full year. Non-GAAP operating income is projected to be $16 million for Q1 and $300 million for the full year.
Positive Outlook
- Q1 FY23 Revenue approximately $520 Million
- FY23 Revenue approximately $2.6 Billion
- Estimated 19%-20% Y/Y Growth
- FY23 Non-GAAP Operating Income $300 Million
- FY23 Non-GAAP Operating Margin approximately 11.5%
Revenue & Expenses
Visualization of income flow from segment revenue to net income