Financial Data and Key Metrics Changes - For FY '24, total revenue grew by 2.8%, with expectations adjusted to over 7% when accounting for strong Evergreen/One and Evergreen/Flex sales and a noncancelable product sale [25][26] - Operating margin for FY '24 was approximately 16%, exceeding the original guidance of 15% [26] - Subscription services annual recurring revenue (ARR) grew 25% to approximately $1.4 billion, comprising 42% of total revenue [28][29] Business Line Data and Key Metrics Changes - Subscription services revenue during Q4 was $329 million, growing 24% [28] - Total contract value (TCV) sales for Evergreen/One and Evergreen/Flex exceeded $400 million, more than doubling over the prior year [14][24] - FlashBlade sales exceeded $2 billion since launch, indicating strong product and platform innovation [14][15] Market Data and Key Metrics Changes - U.S. revenue for Q4 was $522 million, while international revenue was $268 million [29] - New customer acquisition grew by 349 customers during Q4, including 6 new Fortune 500 customers, with Pure now serving slightly over 60% of the Fortune 500 [29] Company Strategy and Development Direction - The company is focused on consolidating data storage using a single operating and management environment, which is seen as more efficient than managing multiple disparate systems [16][17] - The Evergreen technology allows for an always modern environment without application disruption, enhancing customer value [22][23] - The company aims to return to double-digit revenue growth in FY '25, with expectations of 10.5% growth to $3.1 billion [43][44] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism about the macroeconomic environment, noting signs of improvement [41] - The company is confident in its platform strategy and the opportunity to lead the market, particularly in AI-related storage solutions [41][40] - Management anticipates that the growth of subscription services will continue to drive revenue, with a goal of increasing operating margin to 17% in FY '25 [44][70] Other Important Information - The company repurchased nearly 4.7 million shares in FY '24, returning approximately $136 million to shareholders [30] - Capital expenditures for FY '24 were nearly $200 million, representing approximately 6.9% of revenue [30] Q&A Session Summary Question: What is resonating with customers regarding Evergreen/One? - Management highlighted the SaaS-like model of Evergreen/One, which simplifies storage management and allows customers to pay only for what they use [35][46] Question: What is the outlook for RPO growth? - Management noted that the unbilled RPO component grew by 93% year-over-year, driven by strong subscription offerings [47][49] Question: How does the company view the AI market? - Management sees significant opportunities in AI, emphasizing the need for modernized data environments to support AI applications [61][124] Question: What are the expectations for FY '25 revenue growth? - Management expects to return to double-digit revenue growth, with a forecast of 10.5% growth for FY '25 [43][44] Question: How is the company positioned in the GPU cloud provider market? - Management confirmed strong engagement with a major GPU cloud provider, focusing on AI training workflows and data preparation [98][126]

Pure Storage Announces Fiscal Fourth Quarter and Full Year 2024 Financial Results FY24 TCV sales growth of Evergreen//One and Evergreen//Flex offerings exceeding 100% Q4 RPO growing 31% year-over-year SANTA CLARA, Calif. – February 28, 2024 – Today Pure Storage (NYSE: PSTG), the IT pioneer that delivers the world's most advanced data storage technology and services, announced financial results for its fiscal fourth quarter and full year 2024 ended February 4, 2024. "Our data platform strategy is revolutioni ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended November 5, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-37570 Pure Storage, Inc. (Exact Name of Registrant as Specified in its Charter) (State or other jurisdiction of incorporation or organization) FOR ...

Pure Storage, Inc. (NYSE:PSTG) Q3 2024 Earnings Conference Call November 29, 2023 5:00 PM ET Company Participants Paul Ziots - VP, IR Charlie Giancarlo - CEO Kevan Krysler - CFO Rob Lee - Chief Technology Officer Conference Call Participants Amit Daryanani - Evercore Aaron Rakers - Wells Fargo Meta Marshall - Morgan Stanley Tim Long - Barclays Krish Sankar - TD Cowen Sidney Ho - Deutsche Bank Mehdi Hosseini - Susquehanna Simon Leopold - Raymond James Nehal Chokshi - Northland Capital Market Wamsi Mohan - Ba ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended August 6, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-37570 Pure Storage, Inc. (Exact Name of Registrant as Specified in its Charter) (State or other jurisdiction of incorporation or ...

(%) (0.9) % Add: SBC 0.4 % 13.4 2.6 - % 0.6 % 0.6 2.8 FY21 $ $ 14.3 % 4.5 - % - % 3.8 Add: Impairment of right-of-use asset associated with cease-use of a certain facility 0.2 % $ Q2 FY24 August 30, 2023 Q2 Fiscal 2024 Results This presentation contains "forward-looking" statements that are based on our beliefs and assumptions and on information currently available to us. Such forward-looking statements include statements concerning our possible or expected future financial or operating results, business st ...

Pure Storage, Inc. (NYSE:PSTG) Q2 2024 Earnings Conference Call August 30, 2023 5:00 PM ET Company Participants Paul Ziots - VP, IR Charlie Giancarlo - CEO Kevan Krysler - CFO Rob Lee - Chief Technology Officer Conference Call Participants Amit Daryanani - Evercore ISI Aaron Rakers - Wells Fargo Meta Marshall - Morgan Stanley Pinjalim Bora - JPMorgan Wamsi Mohan - Bank of America Krish Sankar - TD Cowen Sidney Ho - Deutsche Bank Shannon Cross - Credit Suisse Jason Ader - William Blair Mehdi Hosseini - Susqu ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended May 7, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-37570 Pure Storage, Inc. (Exact Name of Registrant as Specified in its Charter) (State or other jurisdiction of incorporation or or ...

Pure Storage, Inc. (NYSE:PSTG) Q1 2024 Earnings Conference Call May 31, 2023 5:00 PM ET Company Participants Paul Ziots - Vice President-Investor Relations Charlie Giancarlo - Chief Executive Officer Kevan Krysler - Chief Financial Officer Rob Lee - Chief Technology Officer Conference Call Participants Amit Daryanani - Evercore ISI Meta Marshall - Morgan Stanley Tim Long - Barclays Pinjalim Bora - JPMorgan Wamsi Mohan - Bank of America Eddy Orabi - Cowen Sidney Ho - Deutsche Bank Jason Ader - William Blair ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended February 5, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______ to _______ Commission File Number 001-37570 Pure Storage, Inc. (Exact Name of Registrant as Specified in its Charter) (State or other jurisdiction of incorp ...