Pure Storage revenue jumps 37% to $562.7 mn

Pure Storage, that delivers storage as-a-service in a multi-cloud world, announced financial results for its fiscal third quarter ended October 31, 2021.
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Pure Storage reported revenue of $562.7 million (+37 percent year-over-year) driven by 38 percent rise in subscription services revenue.

Pure Storage reported Subscription Annual Recurring Revenue (ARR) of $788.3 million (+30 percent). Remaining Performance Obligations (RPO) touched $1.2 billion, up 27 percent year-over-year, Pure Storage said.

Pure Storage reported operating loss of $18.1 million with operating margin of –3.2 percent during the third quarter of 2021.

“With Q3 revenue up 37 percent 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.