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Pure Storage | 8-K: Pure Storage Announces Fiscal Fourth Quarter and Full Year 2024 Financial Results

SEC announcement ·  Feb 28 16:14
Summary by Moomoo AI
On February 28, 2024, Pure Storage, Inc. reported its financial results for the fourth quarter and full fiscal year ended February 4, 2024. The company announced a Q4 revenue of $789.8 million, a 3% decrease year-over-year, and a full-year revenue of $2.8 billion, a 3% increase from the previous year. Subscription services revenue for Q4 was $328.9 million, up 24% year-over-year, contributing to a full-year subscription services revenue of $1.2 billion, a 26% increase. The company's Q4 GAAP gross margin was 72.0%, and non-GAAP gross margin was 73.7%. For the full year, GAAP gross margin stood at 71.4%, with non-GAAP gross margin at 73.2%. Operating income for Q4 was reported at $57.4 million on a GAAP basis and $157.8 million on a non-GAAP basis. The full-year operating income was $53.6 million GAAP...Show More
On February 28, 2024, Pure Storage, Inc. reported its financial results for the fourth quarter and full fiscal year ended February 4, 2024. The company announced a Q4 revenue of $789.8 million, a 3% decrease year-over-year, and a full-year revenue of $2.8 billion, a 3% increase from the previous year. Subscription services revenue for Q4 was $328.9 million, up 24% year-over-year, contributing to a full-year subscription services revenue of $1.2 billion, a 26% increase. The company's Q4 GAAP gross margin was 72.0%, and non-GAAP gross margin was 73.7%. For the full year, GAAP gross margin stood at 71.4%, with non-GAAP gross margin at 73.2%. Operating income for Q4 was reported at $57.4 million on a GAAP basis and $157.8 million on a non-GAAP basis. The full-year operating income was $53.6 million GAAP and $458.4 million non-GAAP. Pure Storage also highlighted a 31% year-over-year growth in Remaining Performance Obligations (RPO), totaling $2.3 billion. Additionally, the company's Audit & Risk Committee approved incremental share repurchases of up to an additional $250 million under its stock repurchase program. The report included forward-looking statements regarding the share repurchase program and its potential impact. Pure Storage provided guidance for the first quarter and full fiscal year 2025, expecting double-digit revenue growth and strong RPO growth, driven by its differentiated data storage platform and subscription offerings.

This announcement is a separate document:

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