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2018 Press Releases

March 05, 2018

Pure Storage Announces Record Fourth Quarter and Full Year Fiscal 2018 Financial Results

Pure Storage today announced financial results for its fourth quarter and full year ended January 31, 2018.
 
Key quarterly financial highlights include:
 

  • Record revenue: $338.3 million, up 48% Y/Y, 2% ahead of the midpoint of guidance; Record full year revenue: $1.023 billion, up 41% Y/Y.
  • Record operating margin: -4.7% GAAP; 8.3% non-GAAP, up 13.9 ppts and 10.2 ppts Y/Y, respectively, marking Pure's first profitable quarter on a non-GAAP basis.
  • Record operating cash flow of $59.0 million and free cash flow of $38.3 million, and record full-year operating cash flow of $72.8 million and free cash flow of $7.7 million.

 
"This quarter marks an important milestone for Pure surpassing $1 billion in annual sales and achieving non-GAAP profitability," said Charles Giancarlo, CEO of Pure Storage. "Momentum in the business is strong as we continue our drive to help customers turn data into intelligence and advantage."
 
Approximately 500 customers joined Pure Storage in the quarter, increasing the total to more than 4,500 organizations. A few new customer wins in the quarter include: Advance Financial Corporation, Jenny Craig, Mid America Pet Food, Portland Trail Blazers, Suzuki Motor of America and the Texas Rangers.
 
"Pure Storage delivered another outstanding quarter to finish the year, growing nearly 50% over the year-ago quarter," said Tim Riitters, CFO of Pure Storage. "As we look ahead to next year, we remain focused on driving both growth and leverage in our business, including achieving our first full-year of non-GAAP profitability."