Pure Storage delivers solid Q4, revenue up 128 percent

Pure Storage CEO Scott Dietzen aid the company grew its customer base by 120 percent over the past year thanks to the growing popularity of flash and cloud-friendly storage.

Enterprise storage provider Pure Storage posted better-than-expected fourth quarter results Wednesday after the bell.

The Mountain View, Calif.-based company reported a net loss of $44.3, or 24 cents per share (statement).

Non-GAAP losses were 12 cents a share on revenue of $150.2 million, up 128 percent year-over-year.

Wall Street was bracing for a loss of 19 cents a share on revenue of $138.57 million.

The all-flash-firm offered strong revenue guidance for the current quarter. Pure Storage now expects first-quarter revenue in the range of $135 million to $139 million, well above Wall Street's estimate of $130.53 million.

Pure Storage's share price ticked up about five percent in late trading following the solid report.

Pure Storage CEO Scott Dietzen said the quarter was the company's best yet. He said the company grew its customer base by 120 percent over the past year thanks to the growing popularity of flash and cloud-friendly storage.

"The business continues to run on all cylinders fueled by the rapid worldwide adoption of FlashArray combined with improved operating efficiency as we scale," Dietzen said.

Pure Storage, which went public last October, launched a new storage array last summer along with new upgrade program and cloud management tools.

The flagship product signifies how flash-based storage systems are becoming the norm in the data center -- not to mention that Pure Storage is taking on a more direct attack on IT stalwart EMC.

Newsletters

You have been successfully signed up. To sign up for more newsletters or to manage your account, visit the Newsletter Subscription Center.
See All
See All