Pure Storage, Inc. reported a significant increase in its financial performance for the second quarter of fiscal 2026, with total revenue reaching $861.0 million, a 13% increase from $763.8 million in the same period of the previous fiscal year. The company's product revenue rose by 11% to $446.3 million, while subscription services revenue grew by 15% to $414.7 million. For the first two quarters of fiscal 2026, total revenue was $1.64 billion, up 13% from $1.46 billion in the prior year. The net income for the second quarter was $47.1 million, or $0.14 per diluted share, compared to $35.7 million, or $0.10 per diluted share, in the same quarter last year.
The company experienced notable changes in its operational metrics, including a 22% increase in total remaining performance obligations (RPO), which reached $2.8 billion at the end of the second quarter. This growth was attributed to strong renewals of its Evergreen subscription services and increased sales of its storage-as-a-service offerings. Additionally, Pure Storage's Subscription Annualized Recurring Revenue (ARR) grew to $1.79 billion, reflecting an 18% year-over-year increase, although the growth rate declined from 24% in the previous year due to lower total contract value sales.
Strategically, Pure Storage launched several new products, including the Enterprise Data Cloud (EDC) architecture and next-generation storage solutions such as FlashArray//XL and FlashBlade//S. These innovations are designed to enhance data management and storage capabilities for customers, particularly in the context of increasing demand for cloud-native applications and AI-driven workloads. The company also reported a workforce realignment plan that reduced headcount by nearly 250 employees, aimed at aligning resources with its business strategy.
Operationally, Pure Storage's customer base expanded, with significant growth in international markets. Revenue from the United States increased by 7% to $577.0 million, while revenue from the rest of the world surged by 26% to $284.0 million in the second quarter. The company also reported an increase in employee headcount, reflecting its ongoing investments in research and development, sales, and marketing to support future growth.
Looking ahead, Pure Storage anticipates continued growth in both product and subscription services revenue, driven by its strategic focus on innovation and customer engagement. The company plans to invest further in its international expansion and marketing efforts while managing profitability amid fluctuating market conditions. The outlook remains cautiously optimistic, with expectations for revenue fluctuations and potential losses despite growth, as the company navigates the competitive landscape of the data storage industry.
About Pure Storage, Inc.
Pure Storage is a global leader in data management and storage, providing all-flash enterprise storage solutions that simplify data infrastructure across on-premises, cloud, and hybrid environments. Its core offerings include the Pure Platform, software-defined storage, and subscription services like Evergreen//One. The company focuses on high-performance, reliable, and energy-efficient storage for diverse workloads, supporting AI, cloud-native applications, and enterprise data clouds for a broad customer base.
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