Pure Storage reported first quarter fiscal year 2026 total revenue of $778.485 million, a 12% year-over-year increase, exceeding analyst expectations. However, the company reported a net loss of $(13.995) million, or $(0.04) per share, though adjusted EPS of $0.29 beat estimates.
Storage as a Service offerings saw significant momentum, with TCV sales growing 70% year-over-year to $95 million. Subscription Annualized Recurring Revenue (ARR) grew 18% to $1.7 billion, and total Remaining Performance Obligations (RPO) increased 17% to $2.7 billion.
Pure Storage reiterated its full-year fiscal 2026 guidance for revenue at $3.515 billion and non-GAAP operating income at $595 million. The company also announced that CFO Kevan Krysler will be leaving after more than five years of service, remaining until a successor is named to ensure a smooth transition.
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