Slide 1: Q4 Fiscal 2023 Results
Q4 Fiscal 2023 Results March 1, 2023 @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 financ
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. ©2023 Pure Storage Uncomplicate Data Storage, Forever 44
Slide 5: FlashBlade Innovation
FlashBlade Innovation The Unified Fast File The All-Flash and Object Platform Unstructured Data Designing the last scale-out Repository storage platforms customers For the highest will ever need. performance file and For everyday file and object workloads object workloads ©2023 Pure Storage Uncompli
Slide 6: Capacity-optimized and performant storage
Capacity-optimized and performant storage Performance (IOPS or BW) 1 All-flash capacity at disk pricing FlashBlade//S500 2 Space, power and cooling efficiencies FlashBlade//S200 3 Eliminate data migration and lifecycle challenges Scale and efficiency enabled through co-designed hardware FlashBlade//
Slide 7: Economical for multi-petabyte scale
Economical for multi-petabyte scale Competitive acquisition cost vs. disk, Under including: 20 ¢ • 3 years of service per GB • 40% lower TCO over six years • Non-disruptive upgrades Not including data reduction ©2023 Pure Storage Uncomplicate Uncomplicate DataData Storage, Storage, Forever Forever 7
Slide 8: Pure Storage At A Glance
Pure Storage At A Glance FY23 Revenue Introduction of Customers Satisfaction FlashBlade//E $2.75 B Makes the all- flash data center 11,000+ * 81.4 NPS (1) a reality. Global Customers Highest in the Industry 26% Y/Y Growth Q4FY23 Revenue Q4 FY23 Q4 FY23 Q4 Q4 FY23 FY23 Subscription ARR(2) Non-GAAP Op
Slide 9: Pure's Portfolio
Pure’s Portfolio Uncomplicate Data Storage, Forever Modernizing Applications Delivering the Hybrid Cloud Platform Pure Cloud 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 10: Total and New Customers
TOTAL AND NEW CUSTOMERS ~490 NEW CUSTOMER ADDITIONS >11,000 IN Q4 FY23 CUSTOMERS TO-DATE >11,000 >10,000 ~58% >8,000 OF FORTUNE 500 FY21 Q4 FY22 Q4 FY23 Q4 ©2023 Pure Storage Uncomplicate Data Storage, Forever 10
Slide 11: Financial Overview
©) puresToRAGE’ Financial Overview
Slide 12: Key Highlights
KEY HIGHLIGHTS 1 Today announced FlashBlade//E, a scale-out unstructured data repository built for large capacity data stores, which provides a lower total operating cost compared to secondary tier disk 2 Pleased with Q4 Y/Y revenue growth of 14%; FY23 revenue growth of 26% Y/Y 3 International reven
Slide 13: Q4 FY23 Financial Summary
Q4 FY23 FINANCIAL SUMMARY Financial Metrics Guidance Actuals Subscription ARR(1) $1.1 Billion Revenue Approx. $810 Million $810 Million Non-GAAP Operating Income * $130 Million $159 Million Non-GAAP Operating Margin * Approx. 16.0% 19.6% Operating Cash Flow $233 Million (1) Subscription ARR is a key
Slide 14: FY23 Financial Summary
FY23 FINANCIAL SUMMARY Financial Metrics Guidance Actuals Subscription ARR(1) $1.1 Billion Revenue Approx. $2.75 Billion $2.75 Billion Non-GAAP Operating Income * $430 Million $457 Million Non-GAAP Operating Margin * Approx. 15.6% 16.6% Operating Cash Flow $767 Million (1) Subscription ARR is a key
Slide 15: Total Revenue
TOTAL REVENUE Annual Revenue Fourth Quarter Revenue +19% +33% +14% +23% Total Revenue Subscription Services Total Revenue Subscription Services 3-Year CAGR* 3-Year CAGR* Q4 FY23 Y/Y Growth Q4 FY23 Y/Y Growth $2,753 2750 $810 $2,181 770 $709 2250 $961 710 650 $265 $1,684 590 $216 $739 530 $503 1750 4
Slide 16: Remaining Performance Obligations
REMAINING PERFORMANCE OBLIGATIONS +24% RPO Q4 FY23 Y/Y Growth $1,753* $1,575 $1,499 $1,410 $1,428 $1,248 $1,195 $1,129 $1,094 (*) RPO balance when compared to Q4 of last year reflects a reduction of approximately $57M relating to product shipments for an outstanding Uncomplicate Data Storage, Foreve
Slide 17: Gross Profit & Margin
GROSS PROFIT & MARGIN Non-GAAP as a Percentage of Revenue Annual Gross Profit & Margin Fourth Quarter Gross Profit & Margin LONG-TERM 69.4% 70.7% GM TARGET 70.8% 70.0% 70% 69.4% 68.8% 65% $1,946 $574 $1,514 $1,179 $488 $349 FY21 FY22 FY23 FY21 Q4 FY22 Q4 FY23 Q4 Non-GAAP Gross Profit (Millions) Non-
Slide 18: Operating Income & Margin
OPERATING INCOME & MARGIN Non-GAAP as a Percentage of Revenue Annual Operating Income & Margin Fourth Quarter Operating Income & Margin 16.6% 25 10.8% 19.6% 20 16.8% 15 2.7% 10 7.3% 67.3%* 5 58.6%* 20.6% 54.1%* 0 62.1%* 19.2% $159 18.6% -5 18.6% 52.0%* 51.3%* $457 -10 17.2% 16.7% $119 38.5% 33.0% $2
Slide 19: Cash Flow
CASH FLOW Annual Operating Cash Flow Fourth Quarter Operating Cash Flow (Millions) (Millions) $233 $767 $158 $60 (4.7% of revenue) $138 $410 $21 $102 (5.3% of $609 revenue) $69 $173 $188 $21 $117 $95 $308 $48 $93 FY21 FY22 FY23 FY21 Q4- FY22 Q4 FY23 Q4 Capital Expenditures (Millions) Free Cash Flow
Slide 20: Annual Guidance
Annual Guidance . FY24 Revenue Mid to High Single Digit Growth Y/Y Non-GAAP Operating Margin(1) 15% (1) We have not reconciled guidance for non-GAAP operating margin to its most directly comparable GAAP measure because items such as stock-based compensation expense and payroll tax expense related to
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 FREE CASH FLOW GAAP TO NON-GAAP RECONCILIATION (1) Includes capitalized internal-use software costs of $2.0 million, $2.5 million and $3.2 million for Q4 FY21, Q4 FY22 and Q4 FY23 and $2.3 million, $8.8 million and $13.7 million for FY
Slide 25: Uncomplicate Data Storage, Forever
Uncomplicate Data Storage, Forever