Everpure, Inc. · NYSE:P
Everpure — Pure Storage — Q4 FY2021 Earnings Presentation
15 slides from Everpure's earnings presentation, Feb 24, 2021
Slide 1: Q4 Fiscal 2021 Results
Q4 FISCAL 2021 RESULTS February 24, 2021 1 2021 © 2018 PURESTORAGE PURE STORAGE INC. 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 financ
Slide 3: Q4 FY21 Highlights
Q4 FY21 HIGHLIGHTS 1 Significant growth of Subscription Services, 32% Y/Y growth from existing and new customers 2 Consecutive quarters of record sales for both FlashBlade and FlashArray//C 3 Completed a record of 8 deals over $10 million, including one deal for Pure as-a-Service 4 Record sales in t
Slide 4: Total and New Customers
TOTAL AND NEW CUSTOMERS >8,000 CUSTOMERS TO DATE 471 8500 New Customer Additions 7500 ~500 NEW CUSTOMER 471 ADDITIONS ~48% 6500 5500 >8,000 OF FORTUNE 500 >8,000 >8,000 ~$2* >7,000 >7,000 >7,000 4500 Incremental purchases from all customers within 24 months of initial purchase of $1 3500 ~$10* Incre
Slide 5: Total Revenue
+2% TOTAL REVENUE FY21 Y/Y REVENUE GROWTH $492 $503 $1,684 $1,643 50% 470 $428 $115 $404 $410 40% $405 410 $540 $367 $152 350 $105 $136 30% 290 $132 17% $120 20% 15% 230 12% 10% 170 2% -4% 0% 110 2% $323 $377 $247 $272 $274 $351 $1,239 $1,144 50 -10% FY20 Q3 FY20 Q4 FY21 Q1 FY21 Q2 FY21 Q3 FY21 Q4 F
Slide 6: Remaining Performance Obligations
+24% REMAINING PERFORMANCE OBLIGATIONS ~7500 FY21 Y/Y REMAINING PERFORMANCE OBLIGATIONS GROWTH CUSTOMERS TO DATE 1200 $1,094 $985* $956 $912 900 $880 $250 $811 $222* $206 $232 $183 $168 600 $844 $724 $763 $697 $706 300 $643 0 FY20 Q3 FY20 Q4 FY21 Q1 FY21 Q2 FY21 Q3 FY21 Q4 Deferred Revenue (Millions
Slide 7: Gross Margin & Profit
69.4% GROSS MARGIN & PROFIT Q4 FY21 GROSS MARGIN NON-GAAP AS A PERCENTAGE OF REVENUE LONG-TERM GM TARGET 70.5% 70.0% 71.7% 72.1% 71.9% 69.4% 70% 69.8% 69.1% 65% $1,159 $1,179 $355 $349 $307 $264 $282 $284 FY20 Q3 FY20 Q4 FY21 Q1 FY21 Q2 FY21 Q3 FY21 Q4 FY20 FY21 Non-GAAP Gross Profit (Millions) Non-
Slide 8: Operating Expense
+2.4pts OPERATING EXPENSE NON-GAAP AS A PERCENTAGE OF REVENUE Q4 FY21 Y/Y OPERATING EXPENSE CHANGE 90.00% 80.00% 73.4% 80.00% 70.00% 67.0% 68.3% 67.1% 67.3% 64.9% 70.00% 62.1% 59.7% 22.1% 60.00% 21.9% 60.00% 18.3% 20.4% 19.3% 20.6% 17.4% 18.6% 50.00% 50.00% 40.00% 40.00% 30.00% 42.7% 38.1% 38.1% 40.
Slide 9: Operating Profit / Margin
$36.7M OPERATING PROFIT / MARGIN Q4 FY21 OPERATING PROFIT NON-GAAP AS A PERCENTAGE OF REVENUE 3.4% $55.6 2.7% $46.0 $60.9 $36.7 $29.1 12.4% 6.8% $11.2 2.8% $3.4 -1.5% 7.3% 0.8% $(5.4) FY20 Q3 FY20 Q4 FY21 Q1 FY21 Q2 FY21 Q3 FY21 Q4 FY20 FY21 Non-GAAP Operating Income (Loss) (Millions) Non-GAAP Opera
Slide 10: Cash Flow
$188M CASH FLOW FY21 OPERATING CASH FLOW Operating Cash Flow (Millions) 190 180 $190 $188 170 160 OPERATING $70 $69 150 CASH $64 140 FLOW (2) $51 130 $35 $33 120 110 100 FY20 Q3 FY20 Q4 FY21 Q1 FY21 Q2 FY21 Q3 FY21 Q4 FY20 FY21 Free Cash Flow (Millions) $56 98 $102 $43 78 $93 $48 Free (2) (2) 58 Cas
Slide 11: Guidance
GUIDANCE . Q1 FY22 FY 2022 14%-15% Y/Y Revenue $405 Million Growth Non-GAAP Operating Income (Loss)(1) $(20) Million ~$90 Million (1) We have not reconciled guidance for non-GAAP operating income (loss) to the most directly comparable GAAP measure because items such as stock- based compensation expe
Slide 12: Appendix
APPENDIX 12 2021 © 2018 PURESTORAGE PURE STORAGE INC. INC.
Slide 13: Gross Margin, Operating Expenses & Margin
GROSS MARGIN, OPERATING EXPENSES & MARGIN GAAP TO NON-GAAP RECONCILIATION 13 2021PURE © 2019 PURESTORAGE STORAGE INC. INC.
Slide 14: Free Cash Flow
FREE CASH FLOW GAAP TO NON-GAAP RECONCILIATION 14 2021PURE © 2019 PURESTORAGE STORAGE INC. INC.
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