Slide 1: Q1 Fiscal 2023 Results
Q1 Fiscal 2023 Results June 1, 2022 © 2022 Pure Storage,Inc.
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
Company Overview © 2022 Pure Storage,Inc. 3
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. © 2022Pure © 2022 Pure Storage, Inc. Storage,Inc. 44
Slide 5: Pure Storage At A Glance
Pure Storage At A Glance FY22 Annual Revenue Fortune 1000 List Satisfaction Leadership $2.18 B Pure ranked on Fortune 1000 85.2 NPS 8 Year Leader 29% Y/Y Growth Top 1% of Gartner Magic Quadrant List B2B Companies Customers Q1 FY23 Subscription Annual Q1 FY23 Operating Cash Flow Q1 FY23 Revenue Recur
Slide 6: Delivering the Modern Data Experience
Delivering the Modern Data Experience Pure Cloud Modernizing Applications Block Store™ Delivering the Hybrid Cloud Platform Hybrid Data Management 1-Click Deployment of Hybrid Mobility for Unified Fast File and for Tomorrow’s Data Applications for Kubernetes Applications Kubernetes Data Tier1 Apps O
Slide 7: Top 10 Reasons Customers Buy Pure
Top 10 Simplicity - Easy to buy, install and operate Innovation – 8x leader in Gartner Magic Quadrant Reasons Reliability - Six 9s of reliability Customers Leadership - 1st flash that costs less than hybrid disk arrays Buy Pure Flexibility - Differentiated unified as-a-service offering Trust - Top 1
Slide 8: Purpose-built for Sustainable IT
Purpose-built for Sustainable IT Pure has built sustainable, low- carbon-footprint technology that helps our customers reach their sustainability goals – even while their IT teams innovate and deliver for their organizations. • Higher storage density reduces energy usage • Energy- and thermal-effici
Slide 9: Total and New Customers
TOTAL AND NEW CUSTOMERS (1) ~360 >10,000 NEW CUSTOMER ADDITIONS IN Q1 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 7860 7800 7740 CUSTOMERS TO-DATE 7680 7620 7560 75
Slide 10: Financial Overview
Financial Overview © 2022 Pure Storage,Inc. 10
Slide 11: Key Highlights
KEY HIGHLIGHTS 1 Very strong start to the year and exceptional Q1 financial performance including revenue growth of 50%, and non-GAAP operating income* of $85 million 2 Broad-based performance across key geographies - both U.S. and International revenue growth very strong 3 Subscription ARR(1) grew
Slide 12: Q1 FY23 Financial Summary
Q1 FY23 FINANCIAL SUMMARY Financial Metrics Guidance Actuals Y/Y Subscription ARR(1) $ 900 Million +29% Revenue Approx. $ 520 Million $ 620 Million +50% Non-GAAP Operating Income * $ 16 Million $ 85 Million Non-GAAP Operating Margin * Approx. 3% 13.8% Operating Cash Flow $ 220 Million (1) Subscripti
Slide 13: Total Revenue
TOTAL REVENUE Annual Revenue First Quarter Revenue +17% +37% +50% +35% Total Revenue Subscription Services Total Revenue Subscription Services 3-Year CAGR* 3-Year CAGR* Q1 FY23 Y/Y Growth** Q1 FY23 Y/Y Growth $2,181 $620 590 $1,684 530 1750 $1,643 470 $739 410 $413 $219 $405 $367 1250 $540 350 290 $
Slide 14: Remaining Performance Obligations
+26% REMAINING PERFORMANCE OBLIGATIONS RPO Q1 FY23 Y/Y Growth $1,410 $1,428 ** $1,248 $1,195 $1,129 $316 $1,094 $330 $956 $985 * $298 $912 $285 $250 $263 $232 $222 * $206 $1,080 $1,112 $910 $950 $844 $866 $724 $763 $706 FY21 Q1 FY21 Q2 FY21 Q3 FY21 Q4 FY22 Q1 FY22 Q2 FY22 Q3 FY22 Q4 FY23 Q1 Axis Tit
Slide 15: Gross Profit & Margin
GROSS PROFIT & MARGIN Non-GAAP as a Percentage of Revenue Annual Gross Profit & Margin First Quarter Gross Profit & Margin LONG-TERM 70.5% 70.0% GM TARGET 71.9% 69.4% 70.5% 70.6% 70% 65% $1,514 $438 $1,159 $1,179 $264 $291 FY20 FY21 FY22 FY21 Q1 FY22 Q1 FY23 Q1 Non-GAAP Gross Profit (Millions) Non-G
Slide 16: Operating Income (Loss) & Margin
OPERATING INCOME (LOSS) & MARGIN Non-GAAP as a Percentage of Revenue Annual Operating Income & Margin First Quarter Operating Income (Loss) & Margin 13.8% 10.8% 3.4% 2.7% 0.1% (1.5%) 67.1%* 67.3%* 73.4%* 70.4%* 58.6%* 19.3% 20.6% 22.1% $85 $235 22.7% 56.8%* 19.2% 19.2% 40.0% 38.5% 42.7% 39.9% 33.0%
Slide 17: Cash Flow
CASH FLOW Annual Operating Cash Flow (Millions) First Quarter Operating Cash Flow (Millions) $410 160 $220 350 $102 (4.7% of $33 revenue) 290 100 230 $190 $188 $88 $95 (5.3% of (5.6% of 170 revenue) revenue) $35 40 $21 110 $24 $27 $102 $93 $308 $11 $187 50 ($6) FY21 FY22 FY23 FY20 FY21 FY22 -20 FY21
Slide 18: Guidance
Guidance . Q2 FY23 FY23 Revenue Approx. $ 635 Million Approx. $ 2.66 Billion Non-GAAP Operating Income(1) $ 75 Million $ 320 Million Non-GAAP Operating Margin(1) Approx. 11.8% Approx. 12% (1) We have not reconciled guidance for non-GAAP operating income and non-GAAP operating margin to their most di
Slide 19: Appendix
Appendix © 2022 Pure Storage,Inc. 19
Slide 20: Gross Profit & Margin: GAAP to Non-GAAP Reconciliation
GROSS PROFIT & MARGIN GAAP TO NON-GAAP RECONCILIATION © 2022 Pure Storage, Inc. 20
Slide 21: Operating Expenses: GAAP to Non-GAAP Reconciliation
OPERATING EXPENSES GAAP TO NON-GAAP RECONCILIATION © 2022 Pure Storage, Inc. 21
Slide 22: 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 $1.3 million and $2.9 million for Q1 FY22 and Q1 FY23 and $2.3 million and $8.8 million for FY21 and FY22. © 2022 Pure Storage, Inc.
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