Slide 1: Q3 Fiscal 2026 Financial Results
Q3 Fiscal 2026 Financial Results December 2, 2025
Slide 2: Forward Looking Statements and Non-GAAP Information
Forward Looking Statements and Non-GAAP Information This presentation contains forward-looking statements regarding our products, business and operations, including but not limited to our views relating to our future period financial and business results, our opportunity relating to hyperscale and A
Slide 3: Company Overview
©) puresToRAGE’ Company Overview
Slide 4: Q3FY26 Pure Storage at a Glance
Q3FY26 Pure Storage at a Glance Total Subscription Storage as a Service Total Cash (3) Revenue ARR (1) Offerings (2) & Marketable Securities $964M $1.84B $120M $1.53B 16% Y/Y Growth 17% Y/Y Growth 25% Y/Y Growth Global Non-GAAP (5) Remaining Customers Satisfaction Operating Margin Performance Obliga
Slide 5: Q3FY26 Company Highlights
Robust sales across the portfolio, led by strength in the enterprise. Strong traction of Evergreen//One and modern virtualization solutions. YTD hyperscaler shipments exceeded forecast of 1 to 2 Q3FY26 exabytes. Company Key strategic milestones: GA of Pure Storage Cloud with Microsoft. Highlights De
Slide 6: Customers
Customers 14,000+ 63% 41% Customers of Fortune 500 of Global 2000 ©2025 Pure Storage 6
Slide 7: Financial Overview
©) puresToRAGE’ Financial Overview
Slide 8: Q3FY26 Financial Summary
Guidance Actuals Subscription Annual $1.84B Recurring Revenue (1) Revenue $950M to $960M $964M Q3FY26 Financial Non-GAAP Operating Income (2) $185M to $195M $196M Summary Non-GAAP 10.6% to 16.6% 20.3% Operating Margin (2) Operating Cash $116M Flow (1) Subscription ARR is a key business metric that r
Slide 9: Revenue Q3FY26
Revenue $964M $831M $880M $778M $861M Q3FY26 YoY Growth $430M $385M $376M $415M $406M Total 16% Revenue $495M $534M $455M 14% Subscription $446M $372M Revenue Q3FY25 Q4FY25 Q1FY26 Q2FY26 Q3FY26 Product Product Revenue Subscription Services Revenue 18% Revenue ©2025 Pure Storage 9
Slide 10: Non-GAAP Gross Margins
Non-GAAP Gross Margins (1) 77.4% 77.2% 77.2% 76.5% 75.5% 74.1% 72.1% 72.9% 71.9% 70.9% 69.2% 68.0% 67.4% 64.0% 62.9% Q3FY25 Q4FY25 Q1FY26 Q2FY26 Q3FY26 Product Gross Margin Subscription Gross Margin Total Gross Margin (1) See GAAP to non-GAAP reconciliations for actuals in our appendix. ©2025 Pure S
Slide 11: Non-GAAP Operating Income & Margin
Non-GAAP Operating Income & Margin (1) 20.1% 20.3% 17.4% 15.1% 10.6% $196M $167M $153M $130M $83M Q3FY25 Q4FY25 Q1FY26 Q2FY26 Q3FY26 Non-GAAP Operating Income Non-GAAP Operating Margin (1) See GAAP to non-GAAP reconciliations for actuals in our appendix. ©2025 Pure Storage 11
Slide 12: Non-GAAP Operating Expenses
Non-GAAP Operating Expenses (1) 21.4% 20.9% 19.8% 18.0% 18.5% $518M $491M $469M $456M $430M $191M $180M $163M $166M $150M $258M $266M $230M $239M $252M $50M $54M $51M $53M $61M Q3FY25 Q4FY25 Q1FY26 Q2FY26 Q3FY26 G&A S&M R&D Research & Development % Rate (1) See GAAP to non-GAAP reconciliations for a
Slide 13: Cash Flow & Free Cash Flow Margin
Cash Flow & Free Cash Flow Margin (1) 22.5% (2) 16.4% 15.9% 13.0% 13.8% $612M $534M $545M $198M $98M $433M $171M $151M $272M $81M $436M $414M $374M $282M $191M Q3FY22 YTD Q3FY23 YTD Q3FY24 YTD Q3FY25 YTD Q3FY26 YTD Free Cash Flow CapEx Free Cash Flow Margin Cash Flow From Operations (1) See GAAP to
Slide 14: Subscription Annual Recurring Revenue
Subscription Annual Recurring Revenue $1,837M $1,574M $1,658M $1,711M $1,785M 17%+ ARR Q3FY26 YoY Growth Q3FY25 Q4FY25 Q1FY26 Q2FY26 Q3FY26 ©2025 Pure Storage (1) Subscription ARR is a key business metric that refers to the annualized recurring contract value of all active, non-cancelable customer s
Slide 15: Remaining Performance Obligations
Remaining Performance Obligations $2,943M $2,843M $2,382M $2,618M $2,689M 24%+ $983M $932M RPO Q3FY26 $862M $823M YoY Growth $701M $1,911M $1,960M $1,795M $1,827M $1,681M Q3FY25 Q4FY25 Q1FY26 Q2FY26 Q3FY26 Deferred Revenue Unbilled Remaining Performance Obligations ©2025 Pure Storage (1) RPO associa
Slide 16: Q4FY26 Guidance
Guidance Revenue $1.02B to $1.04B Q4FY26 Revenue YoY Growth 16.5% to 17.6% Guidance Non-GAAP Operating Income (1) $220M to $230M Non-GAAP Operating Income 43.7% to 50.2% YoY Growth (1) (1) We have not reconciled guidance for non-GAAP operating income and non-GAAP operating income year-over-year grow
Slide 17: FY26 Guidance
Prior New Guidance Guidance $3.60B to $3.63B to Revenue $3.63B $3.64B 13.5% to 14.5% to FY26 Revenue YoY Growth 14.5% 14.9% Guidance Non-GAAP Operating $605M to $629M to Income (1) $625M $639M Non-GAAP Operating 8.2% to 12.4% to Income YoY Growth (1) 11.7% 14.2% (1) We have not reconciled guidance f
Slide 18: Annual Financial Summary
Annual Financial Summary FY24 Results YoY Growth FY25 Results YoY Growth Total Revenue $2.83B 3% $3.17B 12% Product Revenue $1.62B -9% $1.70B 5% Subscription Revenue $1.21B 26% $1.47B 22% (1) Non-GAAP Operating Income $458.3M 0% $559.4M 22% Non-GAAP Operating Margin 16.2% -40 bps 17.7% +150 bps (1)
Slide 19: Appendix
©) puresToRAGE’ Appendix
Slide 20: Gross Profit & Margin (GAAP to Non-GAAP Reconciliation)
Gross Profit & Margin (GAAP to Non-GAAP Reconciliation) ©2025 Pure Storage 20
Slide 21: Operating Expenses (GAAP to Non-GAAP Reconciliation)
Operating Expenses (GAAP to Non-GAAP Reconciliation) ©2025 Pure Storage 21 21
Slide 22: Operating Income & Margin and Free Cash Flow Reconciliation
Operating Income & Margin (GAAP to Non-GAAP Reconciliation) Free Cash Flow (GAAP to Non-GAAP Reconciliation) ©2025 Pure Storage 22
Slide 23: Slide 23