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Pure Storage Non-GAAP EPS of $0.36 beats by $0.10, revenue of $708.6M beats by $77.67M

  • Pure Storage press release (NYSE:PSTG): Q4 Non-GAAP EPS of $0.36 beats by $0.10.
  • Revenue of $708.6M (+41.0% Y/Y) beats by $77.67M.
  • Guidance Q1 FY23: Revenue Approx. $520 Million (vs. consensus $517.65M); Non-GAAP Operating Income $16 Million; Non-GAAP Operating Margin Approx. 3%
  • Guidance FY23: Revenue

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Comments (11)

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02 Mar. 2022
Author has GAAP and non-GAAP confused. They did $0.05 GAAP & $0.36 non-GAAP EPS beating by $0.10 cents.
03 Mar. 2022
@pjv115 thank you for your correction!
Great all around.. hoping for a dip in the morning. Guidance on operating income for next year 33% above the street with new $250 mil buyback.
ccp4u profile picture
This quarter shows that the model is working and that this solution is world class and driving more and more adoption.

-- Q4 revenue $708.6 million, up 41% year-over-year
-- Full-year revenue $2.18 billion, up 29% year-over-year
-- Q4 subscription services revenue $216.0 million, up 42% year-over-year
-- Full-year subscription services revenue $738.5 million, up 37%
-- Q4 subscription annual recurring revenue (ARR) $848.8 million, up 31%

-- Full-year GAAP operating loss $(98.4) million

They are now growing faster than historical rates and with more and better clients. FB/Meta could have chosen ANYONE and they chose Pure. The metaverse could possibly be the most storage intense application (alternative world?) ever. How big these numbers could get is a real unknown. I am obviously bullish and very long this name. But we do have to eventually make money. This may have Mr. Market to carve back the 14% jump today. If they do...I will be buying again. By the way, I am very short the overall market...so this long position is a rarity in my current portfolio. I was hoping for numbers like these...and they delivered.
@ccp4u Still short? looks like this thing is about to blast off
ccp4u profile picture
@DomL Still short the market and bonds. Long oil and select names (PSTG). Bear market rallies can and will rip your face off. Manage leverage and maintain liquidity.
Quit with the non-GAAP already, first off.
Other than to mislead, how is this useful?

Digging deeper, into actual GAAP numbers, they lost $98.4 million.

The report states they profited 36c a share?

They lose $8m a month.

They've diluted another 5% YoY from 272m to 289m shares outstanding.

So actual eps is -.34.

Or am I missing something?
@Kanye Cheetos you are missing that their revenue is not only growing but accelerating, and that their costs itemized in GAAP are fixed, in the long term, **relative to** their growth. In other words your comment demonstrates that you don't understand growth investing.
Wrong recap "Q4 Non-GAAP EPS of $0.05 misses by $0.21."
It's in fact: +$0.36. Beat by $0.15.
Illuminati Investments profile picture
LOL, the market loves that they lost an extra $61M but gained $78M of revenue...
looks good...long PSTG
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