Everpure: Fiscal 2Q27 Financial Results

Summary:

Total revenue growth of 38% YoY
Product revenue growth of 54% YoY
Significantly increased FY27 revenue and operating profit guidance

Everpure, a company revolutionizing storage and data management, announced financial results for its second quarter fiscal year 2027 ended August 2, 2026.“Q2 marks eight straight quarters of accelerating revenue growth for Everpure, and confirmed our position as the most innovative and vital company in our industry,” said Charles Giancarlo, chairman and CEO, Everpure. “Our expansion into Data Intelligence, and our increasing momentum in AI and hyperscale products, ensures we are well-positioned to capture enduring long-term growth.”

Second Quarter Financial Highlights

Revenue $1.2 billion, up 38% YoY
Product revenue $687 million, up 54% YoY
Subscription services revenue $499 million, up 20% YoY
Subscription annual recurring revenue (ARR) $2.1 billion, up 20% YoY
Remaining performance obligations (RPO) $4.1 billion, up 44% YoY
GAAP gross margin 68.4%; non-GAAP gross margin 69.9%
GAAP operating income $63 million; non-GAAP operating income $230 million
GAAP operating margin 5.3%; non-GAAP operating margin 19.4%
Operating cash flow $(136) million; free cash flow $(238) million
Total cash, cash equivalents, and marketable securities $1.0 billion
Returned approximately $69 million to stockholders through share repurchases of 0.9 million shares

“Q2 was another outstanding quarter for Everpure, where we delivered record revenue and operating profit, exceeding the high-end of our guidance,” said Tarek Robbiati, CFO, Everpure. “Demand remains strong across our solutions portfolio despite historic industry price increases in the first half of FY27. We are raising guidance significantly for the second half of the year to reflect our confidence in continued revenue momentum.”

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Second Quarter Company Highlights

Second Top-Five Hyperscale Win
Announced on August 10 a landmark design win with a second top-five hyperscaler, leveraging Everpure’s advanced DirectFlash architecture to drastically lower operational costs and reclaim vital power and rack space for hyperscale workloads

Advancing Enterprise Data & AI Infrastructure
Unveiled the Data Primacy architecture at //Accelerate 2026, Everpure Data Intelligence for automated data discovery and governance
Announced general availability of Everpure Data Stream to automate data pipelines from ingestion to inference and accelerate data preparation
Evolved Pure1 AI Copilot from a conversational assistant into an active operator that analyzes performance anomalies, provides step-by-step root-cause analysis, and guides teams to resolution

Expanding Hybrid Cloud & Virtualization
Introduced Portworx for Edge on Red Hat OpenShift and expanded Portworx by Everpure to bring native Kubernetes data management, including storage, data protection, and disaster recovery, directly into the Red Hat OpenShift console
Announced general availability of Everpure Cloud Azure Native for Azure Virtual Machines, extending the fully managed enterprise block storage service across public cloud environments

Driving Strategic Ecosystem Partnerships
Achieved general availability of Everpure FlashBlade integration into Cisco Intersight, delivering native onboarding, complete inventory visibility, and unified health dashboards
Announced the Everpure OpenSharing Connector, enabling Databricks to query Iceberg and Delta tables directly on Everpure object storage without data replication or egress fees

Industry Recognition & Impact
Named a Leader in the 2026 Gartner Magic Quadrant for Enterprise Storage Platforms, positioned highest in execution and furthest in vision for the second consecutive year
Named Virtualization Transformation Partner of the Year in the 2026 Red Hat Ecosystem Innovation Awards and recognized as a Leader in The Forrester Wave: Object Storage Solutions, Q2 2026

Comments

Everpure delivered its strongest results in years in 2Q27, confirming a clear acceleration in its business momentum. The revenue graph below perfectly illustrates this trajectory.

Revenue reached $1.19B, up 9% sequentially and an impressive 38% YoY. Product revenue showed an even stronger performance, jumping 54% YoY to $687M. This growth confirms an active infrastructure refresh cycle and hardware upgrades across customer environments, fueled by the emergence of new workloads and projects, particularly around AI inference.

The company also secured several "big deals" during the quarter and signed a second hyperscaler customer. No official name has been disclosed so far, although several names are already circulating among industry observers. This latest win confirms once again that the hyperscaler market represents an increasingly important strategic direction for Everpure.