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Montag, 21.05.2018 22:10 von PR Newswire | Aufrufe: 73

Pure Storage Announces First Quarter Fiscal 2019 Financial Results

Zeitungsständer (Symbolbild). © AdrianHancu / iStock Editorial / Getty Images Plus / Getty Images

PR Newswire

MOUNTAIN VIEW, Calif., May 21, 2018

MOUNTAIN VIEW, Calif., May 21, 2018 /PRNewswire/ -- Pure Storage (NYSE: PSTG), the all-flash storage platform that helps innovators build a better world with data, today announced financial results for its first quarter ended April 30, 2018.

www.purestorage.com (PRNewsFoto/Pure Storage) (PRNewsfoto/Pure Storage)

Key quarterly financial highlights include:

Revenue: $255.9 million, up 40% Y/Y, exceeding the high end of our guidance;
Operating margin: -24.2% GAAP; -6.0% non-GAAP, up 7.7 ppts and 7.9 ppts Y/Y, respectively;
Operating cash flow: $18.6 million, free cash flow without ESPP impact: $8.6 million.

"Pure has delivered another strong quarter as we lead the industry in delivering new data-centric architectures that enable enterprises to succeed both today and tomorrow," said Pure Storage CEO Charles Giancarlo. "The combination of our innovative business model, first-to-market technology innovations, and focus on customer success drove continued momentum in Q1."

Approximately 300 new customers joined Pure Storage in the quarter, increasing the total to more than 4,800 organizations. New customer wins in the quarter include: ALDI International, Barnes & Noble Education, Inc., U.S. Department of Energy, Paige.AI, and Panasonic Taiwan.

"Q1 marked a great start to fiscal 2019, growing 40% year-over-year in revenue and exceeding our operating margin goal," said Tim Riitters, CFO of Pure Storage. "We are focused on driving industry-leading growth and profitability in our business."

New Revenue Accounting Standard

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Pure Storage adopted ASC 606, the new standard related to revenue recognition effective February 1, 2018. Prior period financial information in this press release has been adjusted to reflect the adoption of this new standard. Please also refer to our earnings presentation on investor.purestorage.com for further information.

First Quarter Fiscal 2019 Financial Highlights

The following tables summarize our consolidated financial results for the fiscal quarters ended April 30, 2018 and 2017 (in millions except percentages, per share amounts and headcount, unaudited):

GAAP Quarterly Financial Information
	Three Months Ended April 30, 2018	Three Months Ended April 30, 2017	Y/Y Change
Revenue	$255.9	$182.6	40%
Gross Margin	65.0%	65.2%	-0.2 ppts
Product Gross Margin	66.0%	67.3%	-1.3 ppts
Support Subscription Gross Margin	61.6%	57.5%	4.1 ppts
Operating Loss	-$61.9	-$58.2	-$3.7
Operating Margin	-24.2%	-31.9%	7.7 ppts
Net Loss	-$64.3	-$57.2	-$7.1
Net Loss per Share (Basic and Diluted)	-$0.29	-$0.28	-$0.01
Weighted-Average Shares	223.8	205.8	18.0
Headcount	>2,300	>1,800	~500


Non-GAAP Quarterly Financial Information
	Three Months Ended April 30, 2018	Three Months Ended April 30, 2017	Y/Y Change
Gross Margin	66.3%	66.4%	-0.1 ppts
Product Gross Margin	66.3%	67.6%	-1.3 ppts
Support Subscription Gross Margin	66.3%	62.1%	4.2 ppts
Operating Loss	-$15.3	-$25.3	$10.0
Operating Margin	-6.0%	-13.9%	7.9 ppts
Net Loss	-$16.2	-$24.3	$8.1
Net Loss per Share	-$0.07	-$0.12	$0.05
Weighted-Average Shares	223.8	205.8	18.0

A reconciliation between GAAP and non-GAAP information is provided at the end of this release.

Financial Outlook

Pure Storage's second quarter fiscal 2019 guidance is as follows:

Revenue in the range of $296 million to $304 million
Non-GAAP gross margin in the range of 63.5% to 66.5%
Non-GAAP operating margin in the range of -7.0% to -3.0%

Pure Storage's full year fiscal 2019 guidance is as follows:

Revenue in the range of $1.320 billion to $1.370 billion
Non-GAAP gross margin in the range of 63.5% to 66.5%
Non-GAAP operating margin in the range of 0% to 4%

All forward-looking non-GAAP financial measures contained in this section titled "Financial Outlook" exclude stock-based compensation expense, payroll tax expense related to stock-based activities, amortization of debt discount and debt issuance costs and any applicable anti-dilutive share count impact of the convertible debt hedge agreements and, as applicable, other special items. We have not reconciled guidance for non-GAAP gross margin and non-GAAP operating margin to their most directly comparable GAAP measures because such items that impact these measures are not within our control and/or cannot be reasonably predicted. Accordingly, a reconciliation of the non-GAAP financial measure guidance to the corresponding GAAP measures is not available without unreasonable effort.

Conference Call Information

Pure Storage will host a teleconference to discuss the first quarter fiscal 2019 results at 2:00 p.m. (PT) on May 21, 2018. Pure Storage will post its supplemental earnings presentation to the investor relations website at investor.purestorage.com following the conference call.

Teleconference details are as follows:

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