Slide 1: Q3 Fiscal 2024 Results
Q3 Fiscal 2024 Results November 29, 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 Q3FY24
Pure Storage At A Glance Q3FY24 (1) Expect annual sales of Total Cash & Revenue Subscription ARR Evergreen//One and Marketable Securities (3) Evergreen//Flex $763M $1.30B offerings will more than double this year (2) $1.35B reaching nearly $400M 13% Y/Y Growth 26% Y/Y Growth Non-GAAP Operating Incom
Slide 5: Q3FY24 Highlights
Q3FY24 Highlights 1 Evergreen//One, our Storage-as-a-service consumption offering, saw continued, extraordinary growth 2 Set a new industry standard with 8 service level agreements (SLAs) guarantees across our Evergreen services 3 Portworx, our Kubernetes and Container storage software for cloud nat
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 >11,000 Customers >9,500 Customers ~60% >8,000 of Fortune Customers ~58% 500 ~50% of Fortune 500 ~353 of Fortune Q3FY24 New ~48% 500 Customer Additions of Fortune 500 Q3FY21 Q3FY22 Q3FY23 Q3FY24 © 2023 Pure Storage Uncomplicate Data Storage, Forever 12
Slide 13: Financial Overview
©) puresToRAGE’ Financial Overview
Slide 14: Q3FY24 Financial Summary
Q3FY24 Financial Summary Financial Metrics Guidance Actuals (1) Subscription Annual Recurring Revenue $1.3 Billion Revenue $760 Million $763 Million (2) Non-GAAP Operating Income $135 Million $169 Million (2) Non-GAAP Operating Margin 17.8% 22.2% Operating Cash Flow $158 Million (1) Subscription ARR
Slide 15: Q3 Select Financial Measures
Q3 Select Financial Measures (1) Non-GAAP Gross Profit & Margin 75.4% Revenue 72.3% 72.0% 74.0% 70.9% 73.1% 68.5% 70.1% $763M $676M 66.7% $565M $563M $310M $479M $245M $386M $234M $188M $177M $136M $302M $331M $431M $453M $250M $375M Q3FY22 Q3FY23 Q3FY24 Q3FY22 Q3FY23 Q3FY24 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% $2.75B 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 Subsc
Slide 17: Remaining Performance Obligations
Remaining Performance Obligations +30% RPO Q3FY24 YoY Growth (1) $2,046M $1,886M $1,800M $1,753M $549M $1,575M $449M $1,499M $367M $404M $1,410M $1,428M $327M $1,248M $320M $330M $316M $298M $1,437M $1,497M $1,396M $1,386M $1,248M $1,179M $1,112M $1,080M $950M Q3FY22 Q4FY22 Q1FY23 Q2FY23 Q3FY23 Q4FY
Slide 18: Subscription Annual Recurring Revenue
Subscription Annual Recurring Revenue (1) (2) 30% 31% 29% 31% 30% 30% 29% 27% 26% $1,296M $1,216M $1,157M $1,101M $1,027M $955M $849M $900M $788M Q3FY22 Q4FY22 Q1FY23 Q2FY23 Q3FY23 Q4FY23 Q1FY24 Q2FY24 Q3FY24 ARR YoY ARR Growth (1) Subscription ARR is a key business metric that refers to total annua
Slide 19: Cash Flow
Cash Flow (1) Annual Cash Flow (1) Q3 Cash Flow $767M $158M $158M $410M $155M $609M $127M $40M $45M $102M $26M $188M $95M $308M $115M $113M $101M $93M FY21 FY22 FY23 Q3FY22 Q3FY23 Q3FY24 Free Cash Flow CapEx Free Cash Flow CapEx (1) See GAAP to non-GAAP reconciliations in our appendix. © 2023 Pure S
Slide 20: Guidance
Guidance FY24 Guidance Revenue $2.82 Billion (1) Non-GAAP Operating Income $450 Million Non-GAAP Operating Margin (1) 16% Q4FY24 Guidance Revenue $782 Million (1) Non-GAAP Operating Income $150 Million (1) Non-GAAP Operating Margin 19% (1) We have not reconciled guidance for non-GAAP operating incom
Slide 21: FY24 Revenue Growth Rate Perspectives
FY24 Revenue Growth Rate Perspectives 2.5% FY24 updated annual revenue growth rate guidance 1.5% Headwind due to $41M sale to a telco customer in Q3FY24 with FY25 shipment dates 3% Headwind due to stronger Evergreen//One sales vs expectations in FY24 guidance* 7% FY24 annual revenue growth rate, abs
Slide 22: Appendix
©) puresToRAGE’ Appendix
Slide 23: Gross Profit & Margin
Gross Profit & Margin GAAP to Non-GAAP Reconciliation © 2023 Pure Storage Uncomplicate Data Storage, Forever 23
Slide 24: Operating Expenses
Operating Expenses GAAP to Non-GAAP Reconciliation © 2023 Pure Storage Uncomplicate Data Storage, Forever 24
Slide 25: 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 © 2023 Pure Storage Uncomplicate Data Storage, Forever 25
Slide 26: Uncomplicate Data Storage, Forever
Uncomplicate Data Storage, Forever