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Pure Storage Announces Third Quarter Fiscal 2022 Financial Results Q3 revenue growing 37 % year - over - year Subscription Services ARR $ 788 million , up 30 % year - over - year Raised FY22 revenue outlook to $ 2.1 billion MOUNTAIN VIEW , Calif . – November 23 , 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 third quarter ended October 31 , 2021 . " With Q3 revenue up 37 % year - over - year and with increasing profitability , it's clear that Pure continues to set the pace for the industry , " said Charles Giancarlo , Chairman and CEO , Pure Storage . " We're delighted to provide cutting edge data services to customers and with our continued leadership in two Gartner Magic Quadrants . " Third Quarter Financial Highlights Revenue $ 562.7 million , up 37 % year - over - year Subscription Services revenue $ 187.8 million , up 38 % year - over - year Subscription Annual Recurring Revenue ( ARR ) $ 788.3 million , up 30 % year - over - year Remaining Performance Obligations ( RPO ) $ 1.2 billion , up 27 % year - over - year • GAAP gross margin 66.6 % ; non - GAAP gross margin 68.5 % • GAAP operating loss $ ( 18.1 ) million ; non - GAAP operating income $ 69.5 million • GAAP operating margin ( 3.2 ) % ; non - GAAP operating margin 12.3 % • Operating cash flow $ 127.0 million ; free cash flow $ 101.3 million Total cash and investments $ 1.4 billion " Our strong Q3 performance was fueled by increased customer demand and execution across the entire business , " said Kevan Krysler , CFO , Pure Storage . " We are in a great innovation cycle with our portfolio . " Third Quarter Company Highlights and Achievements Gartner Magic Quadrant : A storage leader for eight consecutive years ° Magic Quadrant for Primary Storage Arrays : Gartner named Pure a storage leader eight years in a row and the second year in a row the company has been positioned highest on the ability to execute axis and furthest on the completeness of vision axis . Magic Quadrant for Distributed File Systems and Object Storage : Gartner positioned Pure as a leader in the rapidly growing storage market for unstructured data . Net Promoter Score ( NPS ) of 83.5 : For six years running , Pure continues to maintain a market - leading NPS , taking the top 1 % spot across Medallia benchmarked B2B scores . Significant announcements in Q3 bring infrastructure and applications closer together by enabling cloud - like automation and delivery of storage : ° Pure Fusion ™ . a self - service , autonomous storage - as - code platform built for limitless scale , lets customers bring the cloud operating model anywhere and run , operate , and consume traditional storage like a cloud service . PortworxⓇ Data Services , a Database - as - a - Service platform for Kubernetes , lets DevOps engineers deploy a managed , production - grade data service with the click of a button . 1