Pure Storage up Double Digits

fiscal-earningsPandemic? What pandemic? Last week, Pure Storage announced their first quarter fiscal 2020 financial results boasting a 12% revenue increase over last year. This revenue jump offered one of the few bright spots in a week that saw a flurry of less than positive financial news about multiple IT technology providers. Pure’s results also offer a reminder that business must go on even when a pandemic limits how and where businesses can operate.

A couple notable takeaways:

  • Pure’s subscription service revenue was up 37% year over year, and Pure seems to be upping the ante by offering Pure as-a-Service for free for the first three months for new customers with a 12-month contract term of 50 TiB or more.
  • Pure continues to execute on its innovation roadmap with the 3rd gen all-NVMe FlashArray//X and Purity 3.0 for FlashBlade, which augments the file and object replication capabilities for hybrid cloud environments and to help with disaster recovery.

Data is and continues to be the foundation for modern business. In a post COVID-19 world, however, the need to digitally transform has a renewed emphasis and is more important than ever.

Leveraging technology to enable your business to connect and serve customers digitally and remotely as well as in person was always an opportunity. Now, however, those digital business capabilities are essential to survival. And high-performance access to data, such as what Pure Storage offers, is a, if not the, key piece to modernizing your IT infrastructure to fuel those vital digital transformation initiatives.

Moving forward, Pure Storage will be a key technology provider to watch over the coming quarters. With Pure Accelerate less than a week away, I expect we will be seeing more big things from Pure in the near future.

Topics: Storage