The earnings call presents a positive outlook with strong revenue growth, successful engagements with major clients like Meta, and raised financial guidance. However, challenges remain in accurately forecasting product and subscription mix, and hyperscaler revenue is not yet material. The macro environment is acknowledged as uncertain, but its immediate impact seems limited.

Company Guidance

In the Pure Storage second quarter fiscal year 2026 earnings call, the company provided robust guidance, highlighting a strong financial performance and optimistic future outlook. Revenue for Q2 was reported at $861 million, reflecting a 13% year-over-year increase, with an operating profit of $130 million and an operating margin of 15.1%. Subscription services revenue reached $415 million, up 15% year-over-year, contributing to 48% of total revenue. The company's guidance for fiscal 2026 anticipates revenue in the range of $3.6 billion to $3.63 billion, representing a 14% year-over-year growth at the midpoint, with operating profit expected to be between $65 million to $625 million, also marking a 10% year-over-year increase at the midpoint. The revenue forecast for Q3 is projected between $950 million to $960 million, indicating a 15% year-over-year increase at the midpoint. The company's confidence in its financial outlook is underscored by strong customer adoption of its Pure Storage platform and substantial growth in its core software and service offerings, alongside a strategic partnership with Meta contributing to the revenue with high margins.

Strong Revenue Growth

Pure Storage reported revenue of $861 million, a 13% year-over-year increase, with an operating margin of 15.1%.

Enterprise and Subscription Services Momentum

Evergreen One, Cloud Block Store, and Portworx showed accelerating momentum. Subscription services revenue grew 15% year-over-year to $415 million, representing 48% of total revenue.

Successful Engagement with Meta

Strategic co-engineering effort with Meta is on track, with the first volume deployment initiated and first revenue recognized in Q2.

Positive Financial Guidance

Raised fiscal year 2026 revenue guidance to $3.6-$3.63 billion, representing 14% year-over-year growth at the midpoint.

Geographic Revenue Growth

International revenue grew 26% year-over-year, and the company added over 300 new customers.

Pure Storage (PSTG) Earnings, Revenues Date & History

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PSTG Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Nov 26, 2025	2026 (Q3)	0.58 / -	0.5	―	―	―
Aug 27, 2025	2026 (Q2)	0.39 / 0.43	0.44	-2.27% (-0.01)
May 28, 2025	2026 (Q1)	0.25 / 0.29	0.32	-9.38% (-0.03)
Feb 26, 2025	2025 (Q4)	0.41 / 0.45	0.5	-10.00% (-0.05)
Dec 03, 2024	2025 (Q3)	0.41 / 0.50	0.5	0.00% (0.00)
Aug 28, 2024	2025 (Q2)	0.37 / 0.44	0.34	29.41% (+0.10)
May 29, 2024	2025 (Q1)	0.21 / 0.32	0.08	300.00% (+0.24)
Feb 28, 2024	2024 (Q4)	0.44 / 0.50	0.53	-5.66% (-0.03)
Nov 29, 2023	2024 (Q3)	0.40 / 0.50	0.31	61.29% (+0.19)
Aug 30, 2023	2024 (Q2)	0.28 / 0.34	0.32	6.25% (+0.02)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

PSTG Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Aug 27, 2025	$60.86	―	―
May 28, 2025	$55.14	$53.64	-2.72%
Feb 26, 2025	$62.44	$53.20	-14.80%
Dec 03, 2024	$53.54	$65.35	+22.06%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.