Everpure: Fiscal 1Q27 Financial Results

Summary:

• Total revenue growth of 35% YoY
• Product revenue growth of 55% YoY
• Increased FY27 revenue and operating profit guidance

Everpure, a company revolutionizing storage and data management, announced financial results for its first quarter fiscal year 2027 ended May 3, 2026.“Q1 was another outstanding quarter, reflecting the deepening trust customers place in Everpure to unlock their most valuable asset—their data,” said Charles Giancarlo, chairman and CEO of Everpure. “As we expand our Enterprise Data Cloud vision with the integration of 1touch, we are uniquely positioned to help enterprises eliminate infrastructure friction and activate their data for the AI era.”

First Quarter Financial Highlights 

• Revenue $1.1 billion, up 35% YoY
• Product revenue $577 million, up 55% YoY
• Subscription services revenue $476 million, up 17% YoY
• Subscription annual recurring revenue (ARR) $2 billion, up 19% YoY
• Remaining performance obligations (RPO) $3.8 billion, up 41% YoY
• GAAP gross margin 68.7%; non-GAAP gross margin 70.1% 
• GAAP operating income $20 million; non-GAAP operating income $159 million 
• GAAP operating margin 1.9%; non-GAAP operating margin 15.1%
• Operating cash flow $180 million; free cash flow $112 million
• Total cash, cash equivalents, and marketable securities $1.5 billion
• Returned approximately $84 million to stockholders through share repurchases of 1.3 million shares

“In Q1, we generated record revenue and operating profit, exceeding the high-end of our guidance,” said Tarek Robbiati, CFO, Everpure. “We are executing extremely well in a challenging supply chain environment—carrying our strong momentum into FY27, fueled by robust, broad-based demand for our Everpure solutions. Our increased guidance for the year reflects confidence in our ability to deliver on our priorities this year.”

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First Quarter Company Highlights
A New Identity for the AI Era

• Formally transitioned the corporate brand from Pure Storage to Everpure and updated its ticker symbol (NYSE: P), reflecting the company’s expansion from a storage provider to a leader in the future of data management
• In May, completed the strategic acquisition of 1touch, an innovator in data intelligence and orchestration, adding data security posture management (DSPM), advanced data discovery, classification, and semantic context capabilities to the Everpure Platform

Advancing the Enterprise Data Cloud Vision

• Launched ActiveCluster support for file data, enabling fleet-wide, policy-driven mobility and continuous availability. This innovation allows file workloads to move across environments without disruption
• Announced the upcoming beta of Everpure Data Stream, to simplify AI curation and orchestration by eliminating manual data movement, significantly reducing the complexity barriers that typically stall enterprise AI projects

Industry-Leading Performance & Consumption Models 

• FlashBlade//EXA achieved the highest score ever recorded for the SPECstorage Solution 2020 AI_Image benchmark. Demonstrated superior performance economics, moving data twice as fast as competitors while occupying less than half a rack of storage space
• Extended Evergreen//One support to FlashBlade//EXA, providing a flexible pay-as-you-go model for high-performance AI training and inference
• Announced Purity DeepReduce, introducing adaptive, similarity-based data reduction, unlocking deeper efficiencies for AI pipelines, backups, and modern file and object workloads while preserving predictable, high-performance flash economics

Increasing Partner Value

• Updated the partner program, focused on data-centric services where storage and data are foundational, particularly in the MSP program, while distributors play an expanded role in enablement to accelerate partner readiness
• Announced the general availability of Everpure FlashArray support for Microsoft Azure Local
• Announced the general availability of Pure1 + Veeam Anomaly Awareness Workflow, a new integration that unifies Everpure Pure1 and Veeam Backup & Replication

These statements are forward-looking and actual results may differ materially. Refer to the Forward Looking Statements section below for information on the factors that could cause our actual results to differ materially from these statements. Everpure has not reconciled its guidance for non-GAAP operating income and related year-over-year growth rate to their most directly comparable GAAP measures because certain items that impact these measures are not within Everpure’s control and/or cannot be reasonably predicted. Accordingly, reconciliations of these non-GAAP financial measures guidance to the corresponding GAAP measures are not available without unreasonable effort.