Pure Storage (NYSE: PSTG), the IT pioneer that delivers the world’s most advanced data storage technologies and services, today announced financial results for its second quarter fiscal year 2026 ended August 3, 2025.
“Our strong second quarter results demonstrate ever more customers’ confidence in the value of the Pure Storage platform to advance their data storage and management now and into the future,” said Pure Storage CEO and Chairman Charles Giancarlo. “Today, enterprise applications are stuck in inflexible legacy systems that lock data in silos. With Purity and Pure Fusion, customers virtualise their storage to create their own Enterprise Data Cloud to unlock their data for business value.”
Second Quarter Financial Highlights
- Revenue $861.0 million, up 13% year-over-year
- Subscription services revenue $414.7 million, up 15% year-over-year
- Subscription annual recurring revenue (ARR) $1.8 billion, up 18% year-over-year
- Remaining performance obligations (RPO) $2.8 billion, up 22% year-over-year
- GAAP gross margin 70.2%; non-GAAP gross margin 72.1%
- GAAP operating income $4.9 million; non-GAAP operating income $130.0 million
- GAAP operating margin 0.6%; non-GAAP operating margin 15.1%
- Operating cash flow $212.2 million; free cash flow $150.1 million
- Total cash, cash equivalents, and marketable securities $1.5 billion
- Returned approximately $42 million to stockholders through share repurchases of 0.8 million shares.
“Pure Storage exceeded both its revenue and operating profit guidance in the second quarter, reflecting strong customer adoption of our platform strategy,” said Pure Storage CFO Tarek Robbiati. “Looking ahead, we remain committed to executing on our strategic priorities to drive profitable growth and maintain the flexibility to navigate evolving market conditions.”
Second Quarter Company Highlights
- A New Architectural Approach for Data & Storage Management
- Introduced the Enterprise Data Cloud (EDC), an industry-changing architecture that transforms how organisations store and manage their data. Enabled by Pure Fusion, EDC sets a new standard for simplicity in intelligent and autonomous data and storage management, enabling organisations to prioritise business outcomes by abstracting away infrastructure.
- Accelerating Innovation with Next-Generation Products
- Expanded Pure Storage’s portfolio with next-gen storage products, including FlashArray//XL, FlashArray//ST, and FlashBlade//S, built to support high-performance and scalable workloads across diverse enterprise use cases and offering unified block, file, and object storage capabilities.
- Enhancing Efficiency and Resilience
- Launched Portworx for KubeVirt, a virtualisation-centric storage solution for Kubernetes, enabling more cost-effective and simplified management of VM workloads using Red Hat OpenShift Virtualization Engine.
- Industry Recognition & Accolades
- Listed in Fortune’s Best Workplaces in the Bay Area™ 2025 and 25 Best Large Workplaces in the Bay Area.
- Named one of America’s Greatest Workplaces 2025 by Newsweek.
- Recognised as part of DBTA’s 100 2025: The Companies That Matter Most in Data.
- Recognised as part of CRN’s Top 25 IT Innovators of 2025.
- Won Gold for Best Certification Program by Brandon Hall HCM Excellence Awards: “Pure Storage’s IT Professional Certifications: Beyond the Badge”.
Third Quarter and FY26 Guidance
| Q3FY26 | |
| Revenue | $950M to $960M |
| Revenue YoY Growth Rate | 14.3% to 15.5% |
| Non-GAAP Operating Income | $185M to $195M |
| Non-GAAP Operating Income YoY Growth Rate | 10.6% to 16.6% |
| FY26 | ||
| Prior Guidance | New Guidance | |
| Revenue | $3.515B | $3.60B to $3.63B |
| Revenue YoY Growth Rate | 11% | 13.5% to 14.5% |
| Non-GAAP Operating Income | $595M | $605M to $625M |
| Non-GAAP Operating Income YoY Growth Rate | 6% | 8.2% to 11.7% |
These statements are forward-looking and actual results may differ materially. Refer to the Forward Looking Statements section below for information on the factors that could cause our actual results to differ materially from these statements. Pure has not reconciled its guidance for non-GAAP operating income and non-GAAP operating income year-over-year growth rate to their most directly comparable GAAP measures because certain items that impact these measures are not within Pure’s control and/or cannot be reasonably predicted. Accordingly, reconciliations of these non-GAAP financial measures guidance to the corresponding GAAP measures are not available without unreasonable effort.
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