Pure Storage Reports 48 Percent Revenue Growth As Full Year Sales Pass $1 Billion
Mountain View, Calif.-based @Pure Storage enjoyed its first cash flow positive growth and brought in more customers than any other quarter in its history, company executives said on Thursday. “Fiscal 2018 was a very good year for Pure Storage,” said Pure Storage CEO @CharlesGiancarlo during the company’s earnings call. “It has been at least two decades since a company like ours has reached this scale.” [Related: The 10 Coolest Flash Storage And SSD Products Of 2017] Giancarlo told analysts that fiscal 2018, which ended January 31, was also a time of big advances in the company’s technology. About 25 percent of Pure Storage sales were based on sales of high-performance NVMe flash storage, which Giancarlo said was 10 times that of any competitor. The company also introduced synchronous replication, as well as its Pure1 Meta A.I. (artificial intelligence) engine that allows the development what the company calls “self-driving” storage featuring full automation of the functions. It also completed its first full year of sales of FlashBlade, which it called the first all-flash array for unstructured data, Giancarlo said. “These and other technologies open new markets for Pure,” he said. [Sponsored Suggested Post: Help Your Customers Build More Than a Network. It Starts Here. At Juniper Networks, our customers don’t set out to build networks. They set out to build ideas. Ideas that reinvent, and create new possibilities. Watch the video.] During the question and answer period of the conference call, David Hatfield, president of Pure Storage, said that the company’s storage technology is being used with such artificial intelligence use cases as autonomous cars, security, and IoT. However, he said, the most compelling use case is the company’s Rapid Restore technology for quickly restoring data after a loss because of its importance to the company’s core enterprise IT customers. “(This) is taking advantage of our go-to-market,” he said. Hatfield said the company had 4,500 customers by the end of fiscal 2018, which was up about 50 percent year-over-year. The company added more customers in the fourth fiscal quarter than in any other quarter in the company’s history, Hatfield said. The year also saw the introduction of the company’s FlashArray//X, which Hatfield called the storage industry’s first enterprise-class all-NVMe storage array, and hopes to make this a mainstream technology in the near future, he said. The FlashStack converged infrastructure offering that combines Pure Storage’s flash storage technology with Cisco’s UCS server and networking capabilities, is currently available in 30 countries and is enjoying growth exceeding that of the converged infrastructure industry in general, Hatfield said.