Slide 1: Q1 Fiscal 2025 Financial Results
Q1 Fiscal 2025 Financial Results May 29, 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
©) puresToRAGE’ Company Overview
Slide 4: Q1FY25 Pure Storage At A Glance
Q1FY25 Pure Storage At A Glance Total Revenue Subscription Total Cash & ARR (1) FlashBlade Marketable $693.5M $1.45B Record Q1 Sales Securities (2) 18% Y/Y Growth 25% Y/Y Growth Including AI Workloads $1.72B Non-GAAP Remaining Customers Satisfaction Performance Operating 12,500+ 82 NPS (3) Margin Ob
Slide 5: Q1FY25 Highlights
Q1FY25 Highlights 1 Strong start to the year. Q1 revenue outperformed, reflecting revenue growth of 18% year- over-year. 2 Enterprise strength for new and existing customers across our entire data storage platform. 3 Record Q1 for FlashBlade sales, including AI workloads. 4 Subscription Services ARR
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) © 2024 Pure Storage Uncomplicat
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 Major GPU Cloud Provider …and over 100 other AI Customers © 2024 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 © 2024 Pure Storage Uncomplicate Data Storage, Forever 11
Slide 12: Customers
Customers >12,500 >11,500 Customers Customers >10,000 Customers >9,000 ~61% Customers of Fortune ~58% 500 ~54% of Fortune 500 ~262 of Fortune New Customer Additions ~49% 500 Including 4 new Fortune 500 of Fortune Customers 500 Q1FY22 Q1FY23 Q1FY24 Q1FY25 © 2024 Pure Storage Uncomplicate Data Storage
Slide 13: Financial Overview
©) puresToRAGE’ Financial Overview
Slide 14: Q1FY25 Financial Summary
Q1FY25 Financial Summary Financial Metrics Guidance Actuals (1) Subscription Annual Recurring Revenue $1.45 Billion Revenue $680 Million $693.5 Million (2) Non-GAAP Operating Income $68 Million $100 Million (2) Non-GAAP Operating Margin 10% 14.5% Operating Cash Flow $221.5 Million (1) Subscription A
Slide 15: Q1 Select Financial Measures
Q1 Select Financial Measures (1) Non-GAAP Gross Profit & Margin Revenue 73.7% 74.9% 73.9% 72.2% 71.5% $693M 72.8% $620M 70.6% 70.8% $589M 70.0% $219M $346M $512M $438M $426M $280M $157M $259M $207M $401M $281M $219M $253M $309M $347M Q1FY23 Q1FY24 Q1FY25 Q1FY23 Q1FY24 Q1FY25 Product Gross Profit Sub
Slide 16: Annual Select Financial Measures
Annual Select Financial Measures (1) Non-GAAP Gross Profit & Margin Revenue 72.8% 74.4% 71.8% 73.2% $2.75B $2.83B 70.7% 72.4% 69.4% 69.6% $2.18B $2.07B $961M $1.21B 68.2% $1.95B $739M $1.51B $899M $700M $530M $1.79B $1.62B $1.44B $1.25B $1.17B $984M FY22 FY23 FY24 FY22 FY23 FY24 Product Revenue Subs
Slide 17: Remaining Performance Obligations
Remaining Performance Obligations +27% RPO Q1FY25 YoY Growth (1) $2,304M $2,289M $2,046M $1,886M $709M $688M $1,800M $1,753M $549M $1,575M $449M $367M $404M $1,499M $1,428M $327M $320M $316M $1,601M $1,595M $1,497M $1,437M $1,396M $1,248M $1,386M $1,179M $1,112M Q1FY23 Q2FY23 Q3FY23 Q4FY23 Q1FY24 Q2
Slide 18: Subscription Annual Recurring Revenue
Subscription Annual Recurring Revenue (1) (2) 29% 31% 30% 30% 29% 27% 26% 25% 25% $1,446M $1,374M $1,296M $1,157M $1,216M $1,101M $1,027M $900M $955M Q1FY23 Q2FY23 Q3FY23 Q4FY23 Q1FY24 Q2FY24 Q3FY24 Q4FY24 Q1FY25 ARR YoY ARR Growth (1) Subscription ARR is a key business metric that refers to total a
Slide 19: Cash Flow
Cash Flow Annual Operating Cash Flow (1) Q1 Operating Cash Flow (1) $767M $678M $158M $195M $220M $222M $410M $33M $173M $49M $102M $483M $609M $51M $187M $173M $308M $122M FY22 FY23 FY24 Q1FY23 Q1FY24 Q1FY25 Free Cash Flow CapEx Free Cash Flow CapEx (1) See GAAP to non-GAAP reconciliations in our a
Slide 20: Guidance
Guidance Q2FY25 Guidance Revenue $755 Million Revenue YoY Growth Rate 9.6% (1) Non-GAAP Operating Income $125M (1) Non-GAAP Operating Margin 16.6% (1) We have not reconciled guidance for non-GAAP operating income and non-GAAP operating margin to their most directly comparable GAAP measures because i
Slide 21: Guidance
Guidance FY25 Guidance Revenue $3.1 Billion Revenue YoY Growth Rate 10.5% TCV Sales for Evergreen//One & Evergreen//Flex $600M Subscription Service Offerings TCV Sales for Evergreen//One & Evergreen//Flex Approximately 50% Subscription Service Offerings(1)YoY Growth Rate Non-GAAP Operating Income (1
Slide 22: FY25 Revenue Growth Rate Perspectives
FY25 Revenue Growth Rate Perspectives Revenue Growth Rate Perspectives 10.5% FY25 revenue growth rate guidance ~4% Net impact of Evergreen//One and Evergreen//Flex strength* Mid-teens FY25 annual revenue growth rate, absent headwinds *Unfavorable impact from new FY25 Evergreen//One and Evergreen//Fl
Slide 23: Appendix
©) puresToRAGE’ Appendix
Slide 24: Gross Profit & Margin
Gross Profit & Margin GAAP to Non-GAAP Reconciliation © 2024 Pure Storage Uncomplicate Data Storage, Forever 24
Slide 25: Operating Expenses
Operating Expenses GAAP to Non-GAAP Reconciliation © 2024 Pure Storage Uncomplicate Data Storage, Forever 25
Slide 26: 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 © 2024 Pure Storage Uncomplicate Data Storage, Forever 26
Slide 27: Uncomplicate Data Storage, Forever
Uncomplicate Data Storage, Forever