Pure Storage Announces 2Q19 Earnings

Pure Storage announced its second quarter earning of its 2019 fiscal year that ended on July 31, 2018. The numbers look good overall for the company with its highest non-GAAP gross margin and non-GAAP net income after several months of losses. The stock shot up rapidly in after hours trading. 

Pure Storage announced its second quarter earning of its 2019 fiscal year that ended on July 31, 2018. The numbers look good overall for the company with its highest non-GAAP gross margin and non-GAAP net income after several months of losses. The stock shot up rapidly in after hours trading. 

Looking at the numbers, Pure is reporting a revenue of $308.9 million up from last quarter’s $255.9 million. Gross margin was 66.7% GAAP and 68% non-GAAP (an all-time high). The company reported a net loss of $60.1 million GAAP and a net income of $2.4 million non-GAAP. This works out to a net loss of $0.26/share GAAP and a net income per share of $0.01/share GAAP.

The company was able to bring roughly 400 more customers under their fold this quarter, bring the total to 5,150. New customers include Dustin Sverige, Honda Federal Credit Union, Fresenius Medical Care, Lufthansa Aero Alzey Gmbh, New York Genome Center, Syntax, TaxSlayer, The University of Texas MD Anderson Cancer Center, and Zeiss Vision Care France. Pure also acquired the cloud-first software-defined storage solution company, StorReduce Inc. this quarter.

For next quarter they are expecting revenue between $361 million to $369 million and a non-GAAP gross margin between 64.5% to 67.5%.

Pure Storage Investor site

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