December 1st, 2016 by Adam Armstrong
Pure Storage Reports Its 3Q 2017 Earnings
Pure Storage announced its earnings for the third quarter of 2017 and most of its numbers are still looking up. Pure has managed to put out fairly positive numbers again and again since it went public. However, even though Pure saw a record revenue this time it is still seeing its net loss grow. And its stock saw a sharp drop after it reported its earnings.
Looking at the numbers, Pure is reporting record revenue this quarter of $197 million. Pure’s GAAP gross margin is 64.8% up form this time last year while its non-GAAP gross margin is 65.5%, again up form last year. Operating and net loss were -$78.2 million and -$78.8 million GAAP and -$19.4 million and -$20 million non-GAAP. The numbers reported exceed the expected numbers for this quarter. Unlike several of the companies that we cover earnings on, Pure seems to defy the trend and keeps putting out good numbers. After the earnings were reported the company did see a drop in its stock.
Looking forward to the next quarter, Pure is expecting $219 million to $227 million revenue and a non-GAAP gross margin between 64% to 67%. Time will tell if they are able to maintain the streak with their earnings report.