by Adam Armstrong

Pure Storage Announces 1Q19 Earnings

Pure Storage announced its first quarter earning of its 2019 fiscal year that ended on April 30, 2018. Overall the company saw its numbers take a turn for the worse. This resulted in a nearly 6% drop in its stock wiping out most of the gains over the quarter.

Looking at the numbers, Pure is reporting a revenue of $255.9 million up from the same time last year but down from last quarter. Gross margin was 65% GAAP and 66.3% non-GAAP. The company reported a net loss of $64.3 million GAAP and $16.2 million non-GAAP, significantly worse than the $11.9 million GAAP and $31.8 net income non-GAAP reported last quarter. This works out to a net loss of $0.29/share GAAP and $0.07/share GAAP.

The company was able to bring roughly 300 more customers under their fold this quarter including ALDI International, Barnes & Noble Education, Inc., U.S. Department of Energy, Paige.AI, and Panasonic Taiwan. For next quarter they are expecting revenue between $296 million to $304 million and a non-GAAP gross margin between 63.5% to 66.5%.

Pure Storage Investor site

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