Pure Storage Reports Strong Q1 Fiscal 2026 Growth

Pure Storage Inc. ( (PSTG) ) has released its Q1 earnings. Here is a breakdown of the information Pure Storage Inc. presented to its investors.

Pure Storage Inc., a leader in advanced data storage technologies, offers solutions that unify, virtualize, and modernize data management across various environments, catering to a wide range of performance and capacity needs.

In its first quarter of fiscal year 2026, Pure Storage reported a 12% year-over-year increase in total revenue, reaching $778.5 million, and a substantial 70% growth in Total Contract Value sales for its Storage as a Service offerings. The company continues to expand its product lineup and partnerships, reinforcing its position in the data storage industry.

Key financial highlights include a 17% increase in subscription services revenue, amounting to $406.3 million, and an 18% rise in subscription annual recurring revenue, which reached $1.7 billion. The company’s non-GAAP operating income stood at $82.7 million, with a non-GAAP operating margin of 10.6%. Pure Storage also returned approximately $120 million to shareholders through share repurchases.

Strategically, Pure Storage introduced the FlashBlade//EXA platform and Portworx Enterprise 3.3, enhancing its offerings in AI and high-performance computing. The company also announced a partnership with Nutanix and integrated NVIDIA AI Data Platform into its product line, further solidifying its market leadership.

Looking ahead, Pure Storage aims to maintain its growth trajectory by focusing on strategic priorities and adapting to market changes. The company projects a revenue of $845 million for the second quarter of fiscal 2026, with an expected year-over-year growth rate of 10.6%.