Slide 1: Q3 Fiscal 2023 Results
Q3 Fiscal 2023 Results November 30, 2022 @purestorage
Slide 2: Forward Looking Statements and Non-GAAP Information
FORWARD LOOKING STATEMENTS AND NON-GAAP INFORMATION This presentation contains “forward-looking” statements that are based on our beliefs and assumptions and on information currently available to us. Such forward-looking statements include statements concerning our possible or expected future financ
Slide 3: Company Overview
©) puresToRAGE’ Company Overview
Slide 4: Who are we?
Who are we? Pure delivers a modern data experience that helps customers put data to use and allows them to run their operations as a true, automated, storage as-a-service model seamlessly across multiple clouds. ©2022 Pure Storage Uncomplicate Data Storage, Forever 44
Slide 5: Pure Storage At A Glance
Pure Storage At A Glance FY23 Annual Guidance Pure Product Portfolio(1) Customers Satisfaction $2.75 B Up to 80% 11,000+* 85.2 NPS (2) 26% Y/Y Growth Customer Energy Global Customers Top 1% of Savings B2B Companies Q3 FY23 Subscription Annual Q3 FY23 Non-GAAP Operating Q3 FY23 Total Cash & Q3 FY23 R
Slide 6: Pure's Portfolio
Pure’s Portfolio UNCOMPLICATE DATA STORAGE, FOREVER Modernizing Applications Pure Cloud Delivering the Hybrid Cloud Platform Block Store™ for Tomorrow’s Data Applications Modernizing Operations Automating Storage to Deliver the Cloud as-a-Service Experience Modernizing Infrastructure All-Flash Stora
Slide 7: Top 10 Reasons Customers Buy Pure
Simplicity - Easy to buy, install and operate Innovation – 9x leader in Gartner Magic Quadrant Top 10 Reliability - Six 9s of reliability Reasons Leadership - 1st flash that costs less than hybrid disk arrays Customers Flexibility - Differentiated unified as-a-service offering Buy Pure Trust - Top 1
Slide 8: Total and New Customers
TOTAL AND NEW CUSTOMERS ~390 NEW CUSTOMER ADDITIONS >11,000 IN Q3 FY23 CUSTOMERS TO-DATE >11,000 >9,500 ~58% >8,000 OF FORTUNE 500 FY21 Q3 FY22 Q3 FY23 Q3 ©2022 Pure Storage Uncomplicate Data Storage, Forever 8
Slide 9: Financial Overview
©) puresToRAGE’ Financial Overview
Slide 10: Q3 Key Highlights
Q3 KEY HIGHLIGHTS 1 Through solid execution, we delivered strong financial results, growing revenue 20% Y/Y and increasing operating profits 2 Revenue contribution included the second phase of Meta’s build-out of their Research Super- Cluster (RSC) 3 Subscription ARR(1) exceeded $1B dollars for the
Slide 11: Q3 FY23 Financial Summary
Q3 FY23 FINANCIAL SUMMARY Financial Metrics Guidance Actuals Y/Y Subscription ARR(1) $1 Billion +30% Revenue Approx. $670 Million $676 Million +20% Non-GAAP Operating Income * $85 Million $107 Million Non-GAAP Operating Margin * Approx. 12.7% 15.9% Operating Cash Flow $ 155 Million (1) Subscription
Slide 12: Total Revenue
TOTAL REVENUE Annual Revenue Third Quarter Revenue +17% +37% +20% +30% Total Revenue Subscription Services Total Revenue Subscription Services 3-Year CAGR* 3-Year CAGR* Q3 FY23 Y/Y Growth Q3 FY23 Y/Y Growth $2,181 $676 590 $563 $1,684 $739 530 1750 $1,643 $245 470 $188 $411 $405 $540 410 1250 350 $1
Slide 13: Remaining Performance Obligations
REMAINING PERFORMANCE OBLIGATIONS +26% RPO Q3 FY23 Y/Y Growth $1,575** $1,499 $1,410 $1,428 $327 $1,248 $320 $316 $1,195 $330 $1,129 $1,094 $298 $985* $285 $263 $250 $222* $1,248 $1,179 $1,080 $1,112 $910 $950 $844 $866 $763 FY21 Q3 FY21 Q4 FY22 Q1 FY22 Q2 FY22 Q3 FY22 Q4 FY23 Q1 FY23 Q2 FY23 Q3 Axi
Slide 14: Gross Profit & Margin
GROSS PROFIT & MARGIN Non-GAAP as a Percentage of Revenue Annual Gross Profit & Margin Third Quarter Gross Profit & Margin LONG-TERM 70.5% 70.0% GM TARGET 69.4% 70.9% 70% 69.1% 68.5% 65% $479 $1,514 $1,159 $1,179 $386 $284 FY20 FY21 FY22 FY21 Q3 FY22 Q3 FY23 Q3 Non-GAAP Gross Profit (Millions) Non-G
Slide 15: Operating Income & Margin
OPERATING INCOME & MARGIN Non-GAAP as a Percentage of Revenue Annual Operating Income & Margin 25 Third Quarter Operating Income & Margin 20 15.9% 10.8% 15 12.3% 10 3.4% 2.7% 5 0.8% 0 68.3%* 56.2%* 67.1%* 67.3%* -5 55.0%* 58.6%* 19.3% 20.6% -10 21.9% 18.8% $107 $235 19.6% 19.2% $69 38.1% 30.7% 40.0%
Slide 16: Cash Flow
CASH FLOW Annual Operating Cash Flow Third Quarter Operating Cash Flow (Millions) (Millions) $410 $155 $102 (4.7% of $127 $40 revenue) $26 $190 $188 (5.3% of (5.6% of revenue) $308 $88 revenue) $95 $115 $101 $33 $102 $93 $25 $8 FY20 FY21 FY22 FY21 Q3 - FY22 Q3 FY23 Q3 Capital Expenditures (Millions)
Slide 17: Guidance
Guidance . Q4 FY23 (Approx) FY23 (Approx) Revenue $810 Million $2.75 Billion Non-GAAP Operating Income(1) $130 Million $430 Million Non-GAAP Operating Margin(1) 16.0% 15.6% (1) We have not reconciled guidance for non-GAAP operating income and non-GAAP operating margin to their most directly comparab
Slide 18: Appendix
©) puresToRAGE’ Appendix
Slide 19: Gross Profit & Margin: GAAP to Non-GAAP Reconciliation
GROSS PROFIT & MARGIN GAAP TO NON-GAAP RECONCILIATION ©2022 Pure Storage Uncomplicate Data Storage, Forever 19
Slide 20: Operating Expenses: GAAP to Non-GAAP Reconciliation
OPERATING EXPENSES GAAP TO NON-GAAP RECONCILIATION ©2022 Pure Storage Uncomplicate Data Storage, Forever 20
Slide 21: Operating Income & Free Cash Flow Reconciliation
OPERATING INCOME (LOSS) & MARGIN GAAP TO NON-GAAP RECONCILIATION FREE CASH FLOW GAAP TO NON-GAAP RECONCILIATION (1) Includes capitalized internal-use software costs of $0.3 million, $2.5 million and $3.7 million for Q3 FY21, Q3 FY22 and Q3 FY23 and $2.3 million and $8.8 million for FY21 and FY22. ©2
Slide 22: Uncomplicate Data Storage, Forever
Uncomplicate Data Storage, Forever