Everpure, Inc., formerly known as Pure Storage, reported a significant increase in its financial performance for the fiscal year ending February 1, 2026, with total revenue reaching $3.66 billion, a 16% increase from $3.17 billion in the previous fiscal year. The company's product revenue rose by 16% to $1.97 billion, driven by strong sales of its FlashArray and FlashBlade solutions, while subscription services revenue grew by 15% to $1.69 billion, largely due to increased sales of its Evergreen//One offerings. The net income for the year was $188.2 million, compared to $106.7 million in fiscal 2025, reflecting a substantial year-over-year growth.
The company also noted a 16% increase in Subscription Annualized Recurring Revenue (ARR), which reached $1.92 billion by the end of fiscal 2026. This growth was attributed to the expansion of its customer base, which now includes over 14,500 clients, with approximately 64% of Fortune 500 companies utilizing its services. Everpure's market share has been bolstered by its strategic focus on hybrid cloud architecture and data services, as well as its commitment to enhancing its subscription services.
In terms of operational developments, Everpure announced its intention to acquire 1touch, a data intelligence and governance company, for $125 million, a move expected to close in the second quarter of fiscal 2027. This acquisition aims to enhance Everpure's data management capabilities and further integrate its offerings into the Everpure Platform. The company has also made significant investments in research and development, with expenses rising to $725.3 million, reflecting a 20% increase from the previous year, as it seeks to innovate and expand its product portfolio.
Despite the positive financial results, Everpure faces challenges, including rising component costs and supply chain disruptions, which have led to increased operational expenses. The company reported total operating expenses of $2.46 billion, up from $2.13 billion in fiscal 2025. The gross margin remained stable at 70%, but the company anticipates potential fluctuations in the future due to ongoing market conditions. Looking ahead, Everpure aims to continue its growth trajectory by investing in its subscription services and expanding its international presence, while navigating the complexities of the competitive data storage market.
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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