Today, Pure Storage (NYSE:PSTG) announced impressive first-quarter results for fiscal year 2025, showcasing an 18% revenue increase year-over-year. The company’s revenue soared to $693.5 million, surpassing analyst expectations. Despite this revenue growth, the reported adjusted earnings per share (EPS) of -$0.11 fell short of analyst estimates.
One of the key drivers of revenue growth was the 23% year-over-year increase in subscription services revenue, totaling $346.1 million. Additionally, Pure Storage’s subscription annual recurring revenue (ARR) experienced a substantial uptick, reaching $1.4 billion, marking a 25% increase from the previous year.
Although the company reported a GAAP operating loss of $41.8 million, its non-GAAP operating income stood at $100.4 million. Looking ahead, Pure Storage projects second-quarter revenue to be approximately $755 million, slightly exceeding analyst projections. For the full fiscal year 2025, the company anticipates revenue to reach $3.1 billion, slightly below the consensus estimate.
Charles Giancarlo, the Chairman and CEO of Pure Storage, expressed confidence in the company’s ability to streamline data storage environments, a crucial capability for enterprises leveraging artificial intelligence, hybrid cloud, and modern applications. Giancarlo highlighted the strong start to the year and emphasized the company’s commitment to innovation and meeting the evolving needs of its customers.
