Revenue of $163.2 million, up 92.8% Y/Y
Pure Storage reported fiscal second quarter revenue of $163.2 million up 92.8% Y/Y, and ahead of the guidance range of $153 million to $157 million.
“We are delighted to report another great quarter with record revenue,” Pure Storage CEO Scott Dietzen said. “We are very pleased with the growth of the business in the July quarter, driven by solid repeat purchase rates, by partnering with the channel to accelerate our go-to-market, by healthy demand from cloud customers – which accounts for more than 25% of our business – and by growing sales to international customers, who made up 25% of revenue.” In the quarter, Pure began shipping FlashBlade, the company’s second major product line.
The firm reported an operating loss of $59.5m down from $63m in the previously.
While we aren’t planning on FlashBlade materially impacting revenue this year,“ Dietzen said, “we’re excited about the expanded range of possibilities that FlashBlade is already offering customers in chip design, genomics and life sciences, big data analytics, software development, Internet of Things, machine learning and film production.”
"We continue to execute well against our operating plan,” Pure Storage CFO Tim Riitters said. “While driving rapid growth, we also significantly improved operating margin year over year. We nearly doubled our business over the last year, while at the same time cutting our operating losses almost 40%.”
In the quarter, Pure Storage added more than 350 new customers, increasing the total to more than 2,300 organizations, including nearly 20% of the Fortune 500. New customer wins in the quarter include: British Airways, The University of Tokyo, NIFTY Corporation and Sally Beauty Supply, among others.
Also in the second quarter, Baylor Miraca Genetics Labs purchased FlashBlade to transform its genetics research pipeline, and the Farm Bureau of Michigan purchased FlashBlade to deliver high performance infrastructure. Additionally, for the third straight year, Pure Storage is positioned in the Gartner Magic Quadrant for Solid State Arrays (SSAs) furthest along the "Completeness of Vision" axis.
Pure also reported that it retained its position in the Leaders Quadrant of the Magic Quadrant for Solid State Arrays (SSAs) by Gartner. For the third straight year, Pure Storage is positioned furthest along the "Completeness of Vision" axis in the Leaders Quadrant.