Pure Storage Reports Q1 FY26 Revenue Up 12%, GAAP Operating Loss of $31.2M, Non-GAAP Operating Income at $82.7M

Reuters
29 May
Pure Storage Reports Q1 FY26 Revenue Up 12%, GAAP Operating Loss of $31.2M, Non-GAAP Operating Income at $82.7M

Pure Storage Inc. reported its financial results for the first quarter of fiscal year 2026, showing a total revenue of $778.5 million, which marks a 12% increase year-over-year. The company's subscription services revenue grew by 17% year-over-year, reaching $406.3 million, and its subscription annual recurring revenue $(ARR)$ increased by 18% to $1.7 billion. Pure Storage reported remaining performance obligations (RPO) of $2.7 billion, up 17% from the previous year. The GAAP gross margin was reported at 68.9%, while the non-GAAP gross margin stood at 70.9%. The company reported a GAAP operating loss of $31.2 million, in contrast to a non-GAAP operating income of $82.7 million. The GAAP operating margin was recorded at (4.0)%, compared to a non-GAAP operating margin of 10.6%. Operating cash flow for the quarter was $283.9 million, with a free cash flow of $211.6 million. Pure Storage had a total of $1.6 billion in cash, cash equivalents, and marketable securities and returned approximately $120 million to stockholders through share repurchases of 2.5 million shares. For the second quarter of fiscal year 2026, Pure Storage provided guidance with a revenue forecast of $845 million, representing a 10.6% year-over-year growth rate. The company expects a non-GAAP operating income of $125 million and a non-GAAP operating margin of 14.8%. For the full fiscal year 2026, Pure Storage forecasts revenue of $3.515 billion, which indicates an 11% year-over-year growth rate, with a non-GAAP operating income of $595 million and a non-GAAP operating margin of 17.0%.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Pure Storage Inc. published the original content used to generate this news brief via PR Newswire (Ref. ID: SF97475) on May 28, 2025, and is solely responsible for the information contained therein.

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