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Pure Storage -6.8% after Q4 beats with in-line guidance

Mar. 01, 2018 5:10 PM ETPure Storage, Inc. (PSTG) StockBy: Brandy Betz, SA News Editor2 Comments
  • Pure Storage (NYSE:PSTG) shares drop 6.8% aftermarket on Q4 results that beat estimates with a 48.5% Y/Y growth. In-line Q1 guidance has revenue at $246M to $254M (consensus: $247.58M) with non-GAAP gross margin from 63.6% to 66.5% and non-GAAP operating margin of -13% to -9%.
  • In-line FY19 guidance has revenue from $1.31B to $1.36B (consensus: $1.33B) with non-GAAP gross margin from 63.5% to 66.5%.
  • Key metrics: Non-GAAP gross margin, 66.2% (+0.1 ppts Y/Y); operating margin, 8.3% (+10.2 ppts); product gross margin, 65.7% (-0.9 ppts); support gross margin, 68.3% (+4.7 ppts); operating cash flow, $59M; FCF, $38.3M; customer growth, 500 customers bringing total to over 4.5K; total operating expenses, $236.1M; cash and equivalents, $224.1M; total liabilities, $581.5M. 
  • The earnings call started at 5 PM ET with a webcast available here
  • Press release 
  • Previously: Pure Storage beats by $0.06, beats on revenue (March 1)

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