March 2nd, 2018 by Adam Armstrong
Pure Storage Reports 4Q18 & FY18 Earnings
Pure Storage reported its fourth quarter earnings and full fiscal year for 2018 that ended on January 31, 2018. The company is claiming yet another record quarter and over $1 billion in revenue for the year. Pure’s stock has continued a fairly steady climb over the last quarter.
The numbers for the quarter show revenue of $338.3 million up a whopping 48% from this time last year and up form $278 million of last quarter. Gross margin was 65.1% GAAP and 66.2% non-GAAP. The company reported a net loss of $11.9 million (GAAP) and a $31.8 net income non-GAAP. This is significantly higher than this time last year with a GAAP net loss of $42.9 million and a non-GAAP net loss of $4.8 million. For diluted earing per share this comes out to $0.05 loss on GAAP and $0.13 non-GAAP income. Pure reported an operating cash flow of $59 million and free cash flow of $38.3 million.
For the fiscal year, Pure is reporting revenue of $1.023 billion, a 41% increase form the previous year. Pure is reporting a net los for the year of $173.7 million, improve from last year’s $245.1 million net loss. Cash and cash equivalents at the end of the period were reported as $183.7 million.
Pure Storage also reported that it has added roughly 500 customers over the last period, bringing its total to 4,500. They now have over 2,100 employees as well. It was also their first profitable quarter (on a non-GAAP basis).
Next quarter the company is expecting revenue in the range of $246 million to $254 million; Non-GAAP gross margin in the range of 63.5% to 66.5%; and Non-GAAP operating margin in the range of -13.0% to -9.0%. For the 2019 fiscal year, Pure is expecting revenue between $1.310 billion and $1.360 billion; Non-GAAP gross margin in the range of 63.5% to 66.5%; and Non-GAAP operating margin in the range of 0% to 4%.