Pure Storage Inc. ( (PSTG) ) has released its Q2 earnings. Here is a breakdown of the information Pure Storage Inc. presented to its investors.
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Pure Storage Inc. is a leading IT company specializing in advanced data storage technologies and services, offering solutions that enhance data management and storage capabilities across various environments. In its latest earnings report for the second quarter of fiscal 2026, Pure Storage reported a 13% increase in total revenue year-over-year, reaching $861 million, and a notable 24% growth in its Storage as a Service offerings. The company also raised its full-year revenue and operating profit guidance, reflecting strong market performance and customer adoption.
Key financial highlights include a 15% increase in subscription services revenue, reaching $414.7 million, and an 18% rise in subscription annual recurring revenue, totaling $1.8 billion. The company’s remaining performance obligations grew by 22% to $2.8 billion. Pure Storage achieved a GAAP gross margin of 70.2% and a non-GAAP gross margin of 72.1%, with a GAAP operating income of $4.9 million and a non-GAAP operating income of $130 million.
Strategically, Pure Storage introduced the Enterprise Data Cloud, a new architecture aimed at transforming data storage and management, and expanded its product portfolio with next-generation storage solutions like FlashArray//XL and FlashBlade//S. The company also launched Portworx for KubeVirt, enhancing efficiency in managing Kubernetes workloads. These innovations are designed to support high-performance and scalable workloads, offering unified storage capabilities.
Looking ahead, Pure Storage is optimistic about its growth prospects, as indicated by its increased guidance for the third quarter and full fiscal year 2026. The company remains focused on executing its strategic priorities to drive profitable growth and adapt to changing market conditions, ensuring continued customer satisfaction and technological advancement.