Slide 1: Q2 Fiscal 2024 Results
Q2 Fiscal 2024 Results August 30, 2023
Slide 2: Forward Looking Statements
Forward Looking Statements 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 financial or operating results
Slide 3: Company Overview
©) puresToRAGE’ Company Overview
Slide 4: Pure Storage At A Glance Q2FY24
Pure Storage At A Glance Q2FY24 Revenue Subscription ARR (1) Total Cash & (2) Doubled Marketable Securities Subscription Sales $689M $1.22B YoY for $1.23B Evergreen//One 6% Y/Y Growth 27% Y/Y Growth Non-GAAP Operating Income (4) Q4 Record FY23 Sales Customers Satisfaction Total Cash & Marketable Qua
Slide 5: Q2FY24 Highlights
Q2FY24 Highlights 1 Achieved record sales of our entire FlashBlade portfolio, including FlashBlade//E 2 FlashBlade//S won a low-eight-digit deal with a customer using our platform for generative AI in a production environment. Portworx had multiple wins in the quarter with customers doing early AI d
Slide 6: World's Most Consistent, Modern, Reliable Product Line
World’s Most Consistent, Modern, Reliable Product Line. + Cloud Block Store Scale Up Direct to Flash Scale Out Integrated Cloud Native Cloud Operating Unified Block & File Block, File, Object File and Object SaaS Mgt Kubernetes Data Model Low Latency On Prem and In Cloud High Throughput Management A
Slide 7: Pure DirectFlash Storage Portfolio
Pure DirectFlash™ Storage Portfolio Able to Satisfy the Full Range of Enterprise Storage Needs Extreme Performance FB//S500 Block Balanced Performance/ Capacity Performance (IOPS or BW) FA//XL File FA//X FB//S200 FA//C Object Ultimate Capacity FB//E FA//E Capacity (TB) © 2023 Pure Storage Uncomplica
Slide 8: Pure's Unique, Sustainable Competitive Advantages
Pure’s Unique, Sustainable Competitive Advantages Direct-to-Flash Highly Consistent Cloud Operating Evergreen Lifecycle Management Portfolio Model Efficiency Purity Pools of Storage Never obsolete Reliability DFMs Managed as a Fleet Never disruptive Longevity Pure1 Available As-a-Service Always Mode
Slide 9: We Deliver Outcomes
We Deliver Outcomes 50%+* Products Are Never- Lower Obsolete Always-Improving, Non- 2-5x* TCO 5-10x Disruptively Less Power & Less Labor to Space Operate 10x vs Existing Hard Disk Systems >10x Automation-Driven Cloud Operating Model Most Consistent More Product Line 1 Purity, 2 HW Reliable Architect
Slide 10: Supporting the World's AI Projects
Supporting the World’s AI Projects …and over 100 other AI Customers © 2023 Pure Storage Uncomplicate Data Storage, Forever 10
Slide 11: The Data Center Sustainability Challenge
The Data Center Sustainability Challenge 1-2% Consumed by Data Centers 20-25% From Storage Pure flash storage consumes 80% less power © 2023 Pure Storage Uncomplicate Data Storage, Forever 11
Slide 12: Customers
Customers >12,000 Customers >10,500 Customers >9,000 Customers ~59% >8,000 of Fortune Customers ~56% 500 ~50% of Fortune 500 ~325 of Fortune Q2FY24 New ~45% 500 Customer Additions of Fortune 500 Q2FY21 Q2FY22 Q2FY23 Q2FY24 © 2023 Pure Storage Uncomplicate Data Storage, Forever 12
Slide 13: Financial Overview
©) puresToRAGE’ Financial Overview
Slide 14: Q2FY24 Financial Summary
Q2FY24 Financial Summary Financial Metrics Guidance Actuals (1) Subscription Annual Recurring Revenue $1.2 Billion Revenue $680 Million $689 Million (2) Non-GAAP Operating Income $90 Million $112 Million (2) Non-GAAP Operating Margin 13% 16.2% Operating Cash Flow $102 Million (1) Subscription ARR is
Slide 15: Q2 Select Financial Measures
Q2 Select Financial Measures (1) Non-GAAP Gross Profit & Margin 74.5% Revenue 72.9% 72.8% $647M $689M 70.7% 70.4% 71.5% 70.5% 69.0% 70.3% $497M $232M $289M $501M $455M $172M $350M $215M $169M $122M $415M $400M $286M $286M $325M $228M Q2FY22 Q2FY23 Q2FY24 Q2FY22 Q2FY23 Q2FY24 Product Gross Profit Sub
Slide 16: Annual Select Financial Measures
Annual Select Financial Measures (1) Non-GAAP Gross Profit & Margin Revenue 72.8% 71.8% 70.4% $2.8B 70.0% 69.4% 70.7% 69.6% $2.18B $961M 69.1% 68.2% $1.95B $1.68B $739M $1.51B $700M $540M $1.18B $530M $373M $1.79B $1.44B $1,246M $1.14B $984M $805M FY21 FY22 FY23 FY21 FY22 FY23 Product Revenue Subscr
Slide 17: Remaining Performance Obligations
Remaining Performance Obligations +26% RPO Q2FY24 YoY Growth (1) $1,886M $1,800M $1,753M $1,575M $449M $404M $1,499M $367M $1,410M $1,428M $327M $1,248M $320M $1,195M $330M $316M $298M $285M $1,437M $1,396M $1,248M $1,386M $1,179M $1,080M $1,112M $950M $910M Q2FY22 Q3FY22 Q4FY22 Q1FY23 Q2FY23 Q3FY23
Slide 18: Subscription Annual Recurring Revenue
(1) Subscription Annual Recurring Revenue (2) 30% 30% 31% 29% 31% 30% 30% 29% 27% $1,216M $1,157M $1,101M $1,027M $955M $900M $849M $788M $728M Q2FY22 Q3FY22 Q4FY22 Q1FY23 Q2FY23 Q3FY23 Q4FY23 Q1FY24 Q2FY24 ARR YoY ARR Growth (1) Subscription ARR is a key business metric that refers to total annuali
Slide 19: Cash Flow
Cash Flow (1) Annual Cash Flow (1) Q2 Cash Flow $767M $158M $159M $410M $609M $123M $25M $102M $27M $102M $188M $55M $134M $95M $308M $96M $93M $47M FY21 FY22 FY23 Q2FY22 Q2FY23 Q2FY24 Free Cash Flow CapEx Free Cash Flow CapEx (1) See GAAP to non-GAAP reconciliations in our appendix. © 2023 Pure Sto
Slide 20: Guidance
Guidance FY24 Guidance Revenue Mid to High Single Digit Growth Y/Y (1) Non-GAAP Operating Margin 15.5% Q3FY24 Guidance Revenue $760 Million (1) Non-GAAP Operating Income $135 Million (1) Non-GAAP Operating Margin 17.8% (1) We have not reconciled guidance for non-GAAP operating income and non-GAAP op
Slide 21: Appendix
©) puresToRAGE’ Appendix
Slide 22: Gross Profit & Margin
Gross Profit & Margin GAAP to Non-GAAP Reconciliation © 2023 Pure Storage Uncomplicate Data Storage, Forever 22
Slide 23: Operating Expenses
Operating Expenses GAAP to Non-GAAP Reconciliation © 2023 Pure Storage Uncomplicate Data Storage, Forever 23
Slide 24: Operating Income (Loss) & Margin; Free Cash Flow
Operating Income (Loss) & Margin GAAP to Non-GAAP Reconciliation (1) Free Cash Flow GAAP to Non-GAAP Reconciliation (1) Includes capitalized internal-use software costs of $2.5 million, $3.9 million and $5.3 million for Q2 FY22, Q2 FY23 and Q2 FY24 and $2.3 million, $8.8 million and $13.7 million fo
Slide 25: Uncomplicate Data Storage, Forever
Uncomplicate Data Storage, Forever