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%.
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