Slide 1: Q2 Fiscal 2023 Results
Q2 Fiscal 2023 Results August 31, 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 finan
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% 10,500+* 85.2 NPS (2) 26% Y/Y Growth Customer Energy Global Customers Top 1% of Savings B2B Companies Q2 FY23 Revenue Q2 FY23 Subscription Annual Q2 FY23 Operating Margin Q2 FY23 Total Ca
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 – 8x 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 >350 NEW CUSTOMER ADDITIONS >10,500 IN Q2 FY23 9960 9900 9840 9780 9720 9660 9600 9540 9480 9420 9360 9300 9240 9180 9120 9060 9000 8940 8880 8820 8760 8700 8640 8580 8520 8460 8400 8340 8280 8220 8160 8100 8040 7980 7920 CUSTOMERS TO-DATE 7860 7800 7740 7680 7620 7560 7500 7
Slide 9: Financial Overview
©) purestoRAGE Financial Overview
Slide 10: Key Highlights
KEY HIGHLIGHTS 1 Strong financial results, growing Q2 revenue 30% Y/Y and increasing profitability 2 Solid performance of Evergreen subscription offerings and Portworx. Subscription ARR(1) grew 31% Y/Y to $955 million 3 New FlashBlade//S: Strong broad-based customer demand and sales with initial dep
Slide 11: Q2 FY23 Financial Summary
Q2 FY23 FINANCIAL SUMMARY Financial Metrics Guidance Actuals Y/Y Subscription ARR(1) $ 955 Million +31% Revenue Approx. $ 635 Million $ 647 Million +30% Non-GAAP Operating Income * $ 75 Million $ 106 Million Non-GAAP Operating Margin * Approx. 11.8% 16.4% Operating Cash Flow $ 159 Million (1) Subscr
Slide 12: Total Revenue
TOTAL REVENUE Annual Revenue Second Quarter Revenue +17% +37% +30% +35% Total Revenue Subscription Services Total Revenue Subscription Services 3-Year CAGR* 3-Year CAGR* Q2 FY23 Y/Y Growth Q2 FY23 Y/Y Growth $2,181 $647 590 $1,684 530 $497 1750 $1,643 470 $739 $232 410 $404 $405 1250 $540 350 $172 2
Slide 13: Remaining Performance Obligations
+25% REMAINING PERFORMANCE OBLIGATIONS RPO Q2 FY23 Y/Y Growth $1,499 ** $1,410 $1,428 $1,248 $1,195 $320 $1,129 $316 $1,094 $330 $956 $985 * $298 $285 $250 $263 $232 $222 * $1,179 $1,080 $1,112 $910 $950 $844 $866 $724 $763 FY21 Q2 FY21 Q3 FY21 Q4 FY22 Q1 FY22 Q2 FY22 Q3 FY22 Q4 FY23 Q1 FY23 Q2 Axis
Slide 14: Gross Profit & Margin
GROSS PROFIT & MARGIN Non-GAAP as a Percentage of Revenue Annual Gross Profit & Margin Second Quarter Gross Profit & Margin LONG-TERM 70.5% 70.0% GM TARGET 69.4% 70.5% 70.4% 70% 69.8% 65% $1,514 $456 $1,159 $1,179 $350 $282 FY20 FY21 FY22 FY21 Q2 FY22 Q2 FY23 Q2 Non-GAAP Gross Profit (Millions) Non-
Slide 15: Operating Income & Margin
OPERATING INCOME & MARGIN Non-GAAP as a Percentage of Revenue Annual Operating Income & Margin Second Quarter Operating Income & Margin 16.4% 10.8% 9.4% 3.4% 2.7% 2.8% 67.1%* 67.3%* 67.0%* 58.6%* 61.1%* 19.3% 20.6% $235 20.4% 54.0%* $106 19.2% 20.1% 18.8% 40.0% 38.5% 38.1% 33.0% 34.4% $47 28.9% $56
Slide 16: Cash Flow
CASH FLOW Annual Operating Cash Flow (Millions) Second Quarter Operating Cash Flow (Millions) $410 $159 160 350 $102 $25 (4.7% of revenue) $123 290 $27 100 230 $190 $188 $88 $95 (5.3% of (5.6% of 170 revenue) revenue) $51 40 $25 110 $102 $93 $308 $26 $96 $134 50 FY21 FY22 FY23 FY20 FY21 FY22 -20 FY2
Slide 17: Guidance
Guidance . Q3 FY23 FY23 Revenue Approx. $ 670 Million Approx. $ 2.75 Billion Non-GAAP Operating Income(1) $ 85 Million $ 390 Million Non-GAAP Operating Margin(1) Approx. 12.7% Approx. 14% (1) We have not reconciled guidance for non-GAAP operating income and non-GAAP operating margin to their most di
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 $2.5 million and $3.9 million for Q2 FY22 and Q2 FY23 and $2.3 million and $8.8 million for FY21 and FY22. ©2022 Pure Storage Uncomp
Slide 22: Uncomplicate Data Storage, Forever
Uncomplicate Data Storage, Forever