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Feb 02
Pure Storage Q4 2025 Earnings Report
Pure Storage delivered strong revenue growth and profitability in Q4 2025, surpassing expectations with solid subscription service expansion.
Key Takeaways
Pure Storage reported Q4 2025 revenue of $879.8 million, an 11% increase year-over-year, driven by strong subscription services growth. GAAP net income was $42.4 million, with non-GAAP operating income reaching $153.1 million. The company continues to scale its subscription model, with ARR reaching $1.7 billion, up 21% year-over-year.
Q4 2025 revenue reached $879.8 million, up 11% year-over-year.
GAAP net income was $42.4 million, while non-GAAP operating income stood at $153.1 million.
Subscription services revenue grew 17% year-over-year to $385.1 million.
Subscription annual recurring revenue (ARR) reached $1.7 billion, reflecting a 21% year-over-year increase.
Pure Storage
Pure Storage
Pure Storage Revenue by Segment
Revenue by Segment
Product Revenue
CapyFin.comSubscription Services Revenue
CapyFin.com Forward Guidance
Pure Storage expects continued growth in FY26, with revenue projected to increase by 11% and non-GAAP operating income set to rise significantly.
Positive Outlook
- FY26 revenue forecast at $3.515 billion, representing 11% growth year-over-year.
- Subscription services expected to remain a key driver of growth.
- Non-GAAP operating income projected to reach $595 million, up from $559 million in FY25.
- Incremental $250 million authorized for share repurchases to enhance shareholder value.
- Continued investment in AI, hyperscale storage, and cloud solutions to drive market expansion.
Challenges Ahead
- Rising operational expenses, including higher R&D and sales costs, may impact margins.
- Market competition in the storage sector remains intense, requiring constant innovation.
- Potential economic uncertainty could affect enterprise IT spending patterns.
- Dependence on large enterprise contracts introduces revenue volatility risks.
- Global supply chain constraints may pose challenges in meeting hardware demand.
Revenue & Expenses
Visualization of income flow from segment revenue to net income