Since I recommended Pure Storage (NYSE: NYSE: PSTG ) in my last article on the company, the stock has been up 24% compared to the S&P 500's ( SPX ) 5.6% rise as of DecemberI have been a Merchant Seaman that has traveled the world for over 30 years. Within the last 15 years, I developed a very intense interest in investing. I learned a lot of what I know about investing from The MF. Also because I have a engineering background, I often tend to gravitate to Tech stocksAnalyst’s Disclosure: I/we have no stock, ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Title of each class Trading symbol(s) Name of each exchange on which registered Class A Common Stock, $0.0001 par value per sharePSTG New York Stock Exchange LLC 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 November 3, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period ...

Pure Storage, Inc’s (PSTG) shares have been performing well on the trading front, with a gain of 69.5% year to date (YTD). Headquartered in Mountain View, CA, Pure Storage provides software-defined all-flash solutions that are uniquely fast and cloud-capable for its customers.The stock has outperformed its sub-industry, the Zacks Computer and Technology sector and the S&P 500 composite’s growth of 45%, 32.4% and 27.4%, respectively.YTD Price PerformanceImage Source: Zacks Investment ResearchClosing at $60.2 ...

Key TakeawaysA 22% jump in subscription revenue boosted results at Pure Storage, sending shares soaring.The data storage provider beat analysts' adjusted earnings per share and revenue estimates.Pure Storage increased its guidance for full-year revenue. Shares of Pure Storage (PSTG) soared more than 20% Wednesday, a day after the data storage provider beat profit and sales estimates and raised its guidance on higher subscription revenue. Pure Storage reported third-quarter fiscal 2025 adjusted earnings per ...

Tired of losing money? Our Tech Contrarians team of Wall Street analysts sifts through the noise in the tech industry and captures outperformers through a coveted research process. We let the work speak for itself here .Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (othe ...

2024 is nearing its end, and with stock markets continuing to hover around all-time highs, I continue to be incredibly cautious about what I choose to invest in and retain in my portfolio. Active portfolio management, in my view, will be keyWith combined experience of covering technology companies on Wall Street and working in Silicon Valley, and serving as an outside adviser to several seed-round startups, Gary Alexander has exposure to many of the themes shaping the industry today. He has been a regular c ...

Pure Storage's recent quarterly report arrived with plenty for investors to be excited about.Pure Storage (PSTG 24.50%) stock is making big gains in Wednesday's trading. The company's share price was up 23.9% as of 10:30 a.m. ET.Pure Storage published its third-quarter earnings results after the market closed yesterday and posted sales and earnings that beat the market's expectations. In addition to top- and bottom-line beats in Q3, the company also issued encouraging forward guidance and detailed contract ...

Pure Storage (PSTG) reported third-quarter fiscal 2025 non-GAAP earnings per share (EPS) of 50 cents, which beat the Zacks Consensus Estimate by 16.3%. The company reported non-GAAP EPS of 50 cents in the prior-year quarter.Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.Quarterly revenues jumped 9% from the year-ago quarter to $831.1 million, beating the Zacks Consensus Estimate by 2%. The top line outperformed management’s guidance owing to higher demand for FlashArray//E, Flashbl ...

Low-angle view of sign with logo on facade of technology company Pure Storage in the Silicon Valley town of Mountain View, California, October 28, 2018.Pure Storage shares rallied after announcing a contract with an unnamed "top four" AI hyperscaler in tandem with its fiscal third-quarter results.The shares were last up 23% in premarket trading.The data storage management company topped Wall Street's estimates and offered up strong fourth-quarter guidance. Pure Storage also upped its previously forecasted f ...

Financial Data and Key Metrics Changes - Revenue for Q3 FY25 was $831 million, representing a 9% year-over-year growth, exceeding guidance [35] - Operating profit was $167 million with an operating margin of 20.1%, positively impacted by revenue overachievement and strong gross margin performance [35][40] - Subscription services annual recurring revenue (ARR) grew 22% to $1.57 billion, while total remaining performance obligations (RPO) grew 16% year-over-year to $2.4 billion [38] Business Line Data and Key Metrics Changes - Strong demand for the //E family and FlashArray//C solutions contributed to higher product revenues, while total contract value (TCV) sales for storage-as-a-service offerings during Q3 was $96 million [36] - The conversion of larger Evergreen//One opportunities valued over $5 million remained consistent, while smaller opportunities under $5 million saw a meaningful increase in conversions to traditional sales [37] Market Data and Key Metrics Changes - U.S. revenue for Q3 was $562 million, while international revenue was $269 million, with new customer acquisition growing by 340 customers during the quarter [39] - The overall IT spending environment remains muted, with customers facing higher software, SaaS, and cloud costs, impacting operating budgets [29] Company Strategy and Development Direction - The company signed a significant design win with a top four hyperscaler, marking a pivotal opportunity to provide flash storage for standard hyperscaler environments [8][14] - A deepening collaboration with Kioxia aims to support the expected increase in flash demand for the hyperscale industry [11] - The introduction of Pure Fusion aims to transform enterprise data management by enabling organizations to create their own data cloud environments [21][27] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's positioning across all segments despite the muted IT spending environment [29] - The design win is expected to contribute significantly to revenue and operating margin expansion starting in FY 2027, with early field trial buildouts anticipated next year [46][47] - The company remains focused on execution while navigating challenges in the current economic landscape [48] Other Important Information - The company repurchased 3.6 million shares, returning approximately $182 million to shareholders, with $213 million remaining on existing repurchase authorizations [42] - Cash flow from operations during the quarter was $97 million, reflecting a large upfront payment for new software technology [41] Q&A Session Summary Question: What drove the decision by the hyperscaler to choose Pure Storage? - The hyperscaler chose Pure Storage due to unmatched reliability, significant power savings, and accelerated time to value, among other factors [55][56] Question: Can you elaborate on the financial mechanics of the licensing engagement? - The licensing involves both software and hardware design, with revenue primarily coming from licensing fees, software fees, and support fees [70] Question: What is the expected revenue contribution from the hyperscaler design win? - The revenue contribution is expected to be meaningful starting in FY 2027, with the design win being a significant milestone [61][63] Question: How does the Evergreen subscription model trend in the current environment? - There has been a shift towards traditional sales due to pressures on OpEx budgets, but the company expects growth in subscription services to resume [92][130] Question: What is the nature of the CoreWeave partnership? - The partnership expands the availability of Pure Storage technology within the CoreWeave dedicated cloud, enhancing service offerings for AI customers [101][104]