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Pure Storage Announces Second Quarter Fiscal 2022 Financial Results Total Q2 revenue grows 23 % year - over - year Subscription Services revenue up 31 % year - over - year Raised FY22 revenue outlook to $ 2.04 Billion MOUNTAIN VIEW , Calif . - August 25 , 2021 - Today Pure Storage ( NYSE : PSTG ) , the IT pioneer that delivers storage as- a - service in a multi - cloud world , announced financial results for its fiscal second quarter ended August 1 , 2021 . " With revenue growth exceeding 23 % , and the highest Q2 operating profit in our history , it's clear that our long - term strategy to provide customers with modern data services is working , " said Charles Giancarlo , Chairman and CEO , Pure Storage . " We are in a great innovation cycle with our portfolio and our sales momentum and execution have never been stronger . " Second Quarter Financial Highlights Subscription services revenue $ 171.9 million , up 31 % year - over - year GAAP operating loss $ ( 33.9 ) million ; non - GAAP operating income $ 46.6 million • Revenue $ 496.8 million , up 23 % year - over - year • • GAAP gross margin 68.4 % ; non - GAAP gross margin 70.5 % • • GAAP operating margin ( 6.8 ) % ; non - GAAP operating margin 9.4 % • • Total cash and investments $ 1.3 billion • Operating cash flow $ 123.4 million ; free cash flow $ 95.7 million Deferred revenue $ 909.8 million , up 26 % year - over - year Remaining performance obligations ( RPO ) $ 1.2 billion , up 25 % year - over - year " Our outstanding financial performance this quarter reflected strong sales execution and our long standing practice of providing leading edge solutions and best - in - class services to our customers , " said Kevan Krysler , CFO , Pure Storage . " We saw strength from both our enterprise and commercial customers across our entire solutions portfolio . " Second Quarter Company Highlights and Achievements • • Industry Accolades : FlashArray was named a Gartner Peer Insights Customers ' Choice for Primary Storage Arrays . Pure was named a Kubernetes storage leader in two GigaOm Radar Reports and recognized as leader in Enterprise Flash Array Storage and Object Storage categories by TrustRadius for the second consecutive year . Pure achieved the highest total sales for any second quarter in the history of the company , growing more than 30 % year - over - year . The company saw continued strength and momentum in Subscription Services revenue , up 31 % year - over - year with strong growth in Pure as - a - Service , which almost doubled revenues compared to the prior year . Success in the large enterprise segment continues to grow , comprising over 50 % of sales , with the top 10 customers spending more than $ 100 million in total . Pure will host its next Financial Analyst Day on Tuesday , September 28 , 2021 , beginning at 10:00 am PT / 1:00 pm ET . The event has changed from in - person to live webcast and will feature presentations by Pure's executive leadership team , followed by a live Q & A session . Details : Date : Tuesday , September 28 , 2021 Time : 10:00 am PT / 1:00 pm ET To register for the live virtual event , please visit : https://purestorage.com/company/events/financial-analyst-day-2021.html 1