Pure Storage Shares Up After Strong Fourth Quarter and Full Year Fiscal 2022 Financial Results

Mar 3, 2022 By MarketDepth

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Pure Storage, Inc. (NYSE: PSTG) shares jumped more than 18% after the technology and data storage solutions provider announced financial results for its fiscal fourth quarter and full year ended February 6, 2022.

Revenue up 40%

For the fourth quarter, the Company reported revenue $708.6 million, up 41% year-over-year and subscription services revenue $216.0 million, up 42% year-over-year. 

“By every measure, Pure had an outstanding quarter and fiscal year. As evidenced by the 41% growth in Q4, our strategy to deliver an innovative portfolio of data storage and services, with industry-leading customer experiences and flexible, efficient operations continues to position Pure as the trusted provider for all organizations.”

Charles Giancarlo, Chairman and CEO, Pure Storage

For the full year, Pure Storage, revenue $2.18 billion, up 29% year-over-year and subscription services revenue $738.5 million, up 37% year-over-year.

“We are thrilled to be capping off the year in a position of leadership and strength. The momentum we are experiencing is the year’s culmination of relentless focus on innovating for our customers.”

Kevan Krysler, CFO, Pure Storage

Pure Storage, Inc. provides technology and data storage solutions in the United States and internationally. The company delivers solutions based on proprietary Purity Operating Environment Software that implements enterprise-class storage services, such as data reduction, encryption, and protection, as well as protocol services, including block, file, and object.