Slide 1: Q2 Fiscal 2025 Financial Results
Q2 Fiscal 2025 Financial Results August 28, 2024
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 future period financial and business results, demand for our products and subscription service
Slide 3: Company Overview
©) puresToRAcE’ Company Overview
Slide 4: Q2FY25 Pure Storage at a Glance
Q2FY25 Pure Storage at a Glance Subscription Strong Sales Total Cash & Total Revenue Performance of ARR Marketable 1 $763.8M Securities 2 $1.51B FlashArray//E 11% Y/Y Growth 24% Y/Y Growth FlashBlade//E $1.82B Customers Satisfaction Non-GAAP Remaining Performance Operating 13,000 82 NPS Obligat
Slide 5: Q2FY25 Highlights
Q2FY25 Highlights 1 Q2 revenue growth of 11% year-over-year. 2 ARR grew 24% to over $1.5 billion, which continues to be driven by our Evergreen//One service offering, in particular, for our higher velocity business. 3 Strong sales growth of our FlashArray//E, Flashblade//E, FlashArray//C solutions,
Slide 6: World's Most Consistent, Modern, Reliable Product Line
Worldʼs Most Consistent, Modern, Reliable Product Line + Cloud Block Store Scale Up Direct to Scale Out Integrated Cloud Native Cloud Unified Block & File Flash File and Object SaaS Mgt Kubernetes Data Operating Low Latency High Throughput Management High Performance Block, File, Object High Perform
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/ Performance (IOPS or BW) File Capacity FA//XL FA//X FB//S200 FA//C Object Ultimate Capacity FB//E FA//E Capacity (TB) ©2024 Pure Storage 7
Slide 8: Pure's Unique, Sustainable Competitive Advantages
Pureʼs Unique, Sustainable Competitive Advantages Direct-to-Flash Highly Cloud Operating Evergreen Management Consistent Model Lifecycle Portfolio Efficiency Purity Block Pools of Storage Never obsolete Reliability DFMs File Managed as a Fleet Never disruptive Longevity Pure1 Object Available As-a-S
Slide 9: We Deliver Outcomes
We Deliver Outcomes 50%* Products Are Never- Lower Obsolete 25x * TCO 510x Always-Improving, Non-Disruptively Less Power Less Labor & Space to Operate 10x vs Existing Hard Disk Systems 10x Automation-Driven Cloud Operating Model Most Consistent Product More Line Reliable 1 Purity, 2 HW 1030x Fe
Slide 10: Supporting the World's AI Projects
Supporting the Worldʼs AI Projects Major GPU Cloud Provider …and over 100 other AI Customers ©2024 Pure Storage 10
Slide 11: The Data Center Sustainability Challenge
The Data Center Sustainability Challenge 12% Consumed by Data Centers 2025% From Storage Pure flash storage consumes 80% less power ©2024 Pure Storage 11
Slide 12: Customers
Customers 13,000 Customers 12,000 Customers 10,500 261 Customers 62% 9,000 Customers of Fortune 59% 500 of Fortune New Customer 56% 500 Additions of Fortune 50% Including 2 new Fortune 500 of Fortune 500 Customers 500 ©2024 Pure Storage 12
Slide 13: Financial Overview
©) puresToRAcE’ Financial Overview
Slide 14: Q2FY25 Financial Summary
Q2FY25 Financial Summary Financial Metrics Guidance Actuals Subscription Annual Recurring Revenue(1) $1.51 Billion Revenue $755 Million $763.8 Million Non-GAAP Operating Income2 $125 Million $138.6 Million Non-GAAP Operating Margin2 16.6% 18.1% Operating Cash Flow $226.6 Million 1 Subscription
Slide 15: Revenue
Revenue Annual Q2 Quarterly ©2024 Pure Storage 15
Slide 16: Non-GAAP Gross Profit & Margin
1 Non-GAAP Gross Profit & Margin Annual Q2 Quarterly 1 See GAAP to non-GAAP reconciliations for actuals in our appendix. ©2024 Pure Storage 16
Slide 17: Non-GAAP Operating Expenses as % of Revenue
1 Non-GAAP Operating Expenses as % of Revenue Annual Q2 Quarterly 1 See GAAP to non-GAAP reconciliations for actuals in our appendix. ©2024 Pure Storage 17
Slide 18: Non-GAAP Operating Income & Margin
1 Non-GAAP Operating Income & Margin Annual Q2 Quarterly 1 See GAAP to non-GAAP reconciliations for actuals in our appendix. ©2024 Pure Storage 18
Slide 19: Remaining Performance Obligations
Remaining Performance Obligations 24% RPO Q2FY25 YoY Growth1 ©2024 Pure Storage 19 1 RPO associated solely with subscription service offerings grew 21% at the end of Q2.
Slide 20: Subscription Annual Recurring Revenue
Subscription Annual Recurring Revenue 1 2 1 Subscription ARR is a key business metric that refers to total annualized contract value of all active subscription agreements on the last day of the quarter, plus on-demand revenue for the quarter multiplied by four. 2 Subscription ARR excludes ex
Slide 21: Cash Flow
Cash Flow 1 1 Annual Operating Cash Flow Q2 Operating Cash Flow 1 See GAAP to non-GAAP reconciliations in our appendix. ©2024 Pure Storage 21
Slide 22: Guidance
Guidance Q3FY25 Guidance Revenue $815 Million Revenue YoY Growth 6.8% 1 Non-GAAP Operating Income1 $140 Million 1 Non-GAAP Operating Margin1 17.2% 1 We have not reconciled guidance for non-GAAP operating income and non-GAAP operating margin to their most directly comparable GAAP measures b
Slide 23: Guidance
Guidance FY25 Guidance Revenue $3.1 Billion Revenue YoY Growth 10.5% TCV Sales for Evergreen//One & Evergreen//Flex Subscription $500 Million Service Offerings TCV Sales for Evergreen//One & Evergreen//Flex 1 Subscription Approximately 25% Service Offerings YoY Growth Rate 1 1 Non-GAAP Operati
Slide 24: FY25 Revenue Growth Rate Perspectives
FY25 Revenue Growth Rate Perspectives Revenue Growth Rate Perspectives 10.5% FY25 revenue growth rate guidance ~2% Net impact of Evergreen//One and Evergreen//Flex strength* 12.5% FY25 annual revenue growth rate, absent headwinds Unfavorable impact from new FY25 Evergreen//One and Evergreen//Flex s
Slide 25: Appendix
©) puresToRAcE’ Appendix
Slide 26: Gross Profit & Margin
Gross Profit & Margin GAAP to Non-GAAP Reconciliation ©2024 Pure Storage 26
Slide 27: Operating Expenses
Operating Expenses GAAP to Non-GAAP Reconciliation ©2024 Pure Storage 27
Slide 28: Operating Income Loss & Margin; Free Cash Flow
Operating Income Loss & Margin GAAP to Non-GAAP Reconciliation Free Cash Flow 1 GAAP to Non-GAAP Reconciliation ©2024 Pure Storage 28
Slide 29: Slide 29