SANTA CLARA, Calif., Feb. 25, 2026 /PRNewswire/ -- Everpure (NYSE:PSTG), the company revolutionizing storage and data management, today announced financial results for its fiscal fourth quarter and full year 2026 ended February 1, 2026.
"Everpure delivered an outstanding fourth quarter, achieving our first billion-dollar revenue quarter and capping off a strong fiscal year," said Charles Giancarlo, Chairman and CEO of Everpure. "These results prove our impact in modernizing data storage. Our new name 'Everpure' represents the next step in our mission—enabling our customers to better manage and utilize their global data in the AI era."
Fourth Quarter and Full Year Financial Highlights
Q4 revenue $1.1 billion, up 20% year-over-year
Full-year revenue $3.7 billion, up 16% year-over-year
Q4 subscription services revenue $440 million, up 14% year-over-year
Full-year subscription services revenue $1.7 billion, up 15% year-over-year
Q4 subscription annual recurring revenue (ARR) $1.9 billion, up 16% year-over-year
Remaining performance obligations (RPO) $3.7 billion, up 40% year-over-year
Q4 GAAP gross margin 69.9%; non-GAAP gross margin 71.4%
Full-year GAAP gross margin 70.4%; non-GAAP gross margin 72.1%
Q4 GAAP operating income $87 million; non-GAAP operating income $226 million
Full-year GAAP operating income $115 million; non-GAAP operating income $635 million
Q4 GAAP operating margin 8.2%; non-GAAP operating margin 21.3%
Full-year GAAP operating margin 3.1%; non-GAAP operating margin 17.3%
Q4 operating cash flow $268 million; free cash flow $201 million
Full-year operating cash flow $880 million; free cash flow $616 million
Total cash, cash equivalents, and marketable securities $1.5 billion
Returned approximately $127 million and $343 million in Q4 and FY26, respectively, to stockholders through share repurchases of 1.7 million shares and 5.6 million shares, respectively.
"In the fourth quarter, we generated record revenue and operating profit, exceeding the high end of our guidance," said Everpure CFO Tarek Robbiati. "We are entering FY27 with strong momentum as demand for our Everpure solutions across the Enterprise and Hyperscaler sectors remains robust. We are proactively navigating the global imbalances in the supply chain and are confident in our ability to deliver on our priorities this year."
Q4 and Full Year Company Highlights
Powering Data Management at Scale
Introduced the Enterprise Data Cloud (EDC), an industry-changing architecture that allows organizations to centrally manage a virtualized cloud of data with unified control - spanning on-premises, public cloud, and hybrid - enabling intelligent, autonomous data management and governance across the entire environment.
Expanded EDC into the public cloud with Everpure Cloud Azure Native, developed jointly with Microsoft, the industry's first fully managed, enterprise-grade block volume as a service.
Delivered an intelligent control plane, powered by Everpure Fusion and AI Copilot, including Pure1 AI Copilot with Model Context Protocol (MCP) servers.
Bridged the gap between traditional and modern applications with the integration of Portworx by Everpure and Fusion, extending powerful fleet management capabilities to modern containerized cloud-native applications and KubeVirt-based VMs across any environment.
Recently announced a definitive agreement to acquire 1touch, which will further extend our EDC into advanced data management, bringing data discovery, classification, contextualization, and enrichment capabilities to all data in any environment.
Delivering Performance at Any Scale
Debuted FlashBlade//EXA, designed to meet the rigorous demands of AI and high-performance computing, delivering unmatched performance, scalability, and metadata management.
Introduced next-gen storage products, including FlashArray//XL and FlashArray//ST, built to support high-performance and scalable workloads across diverse enterprise use cases and offering unified block, file, and object storage capabilities.
Continued the evolution of the FlashArray family with FlashArray//XL190 R5, FlashArray//X R5, and FlashArray//C R5; also launched the next-gen FlashBlade//S; and introduced Purity Turbo, a new capability within the Purity operating environment.
Partnered with SK hynix to deliver advanced QLC flash storage tailored to hyperscale data centers.
Industry Recognition & Accolades
Earned an audited Net Promoter Score of 84—one of the highest in industry.
Named a Leader in the 2025 Gartner® Magic Quadrant™ for Enterprise Storage Platforms, positioned highest in execution and furthest in vision.
Named a Leader in the 2025 Gartner® Magic Quadrant™ for Infrastructure Platform Consumption Services.
Positioned in the Leaders category in the IDC MarketScape: Worldwide Hardware Support Services 2025 Vendor Assessment report.
Recognized as part of CRN's Top 25 IT Innovators of 2025, AI 100, Data Center 50, Cloud 100, and 50 Coolest Software-Defined Storage Vendors for 2025.
Named one of Fortune's "Best Workplaces in Technology 2025" and listed in Fortune's Best Workplaces in the Bay Area™ 2025.
First Quarter and FY27 Guidance
Q1FY27
Revenue
$990M to $1.01B
Revenue YoY Growth Rate
27% to 30%
Non-GAAP Operating Income
$125M to $135M
Non-GAAP Operating Income YoY Growth Rate
51% to 63%
FY27
Revenue
$4.3B to $4.4B
Revenue YoY Growth Rate
17% to 20%
Non-GAAP Operating Income
$780M to $820M
Non-GAAP Operating Income YoY Growth Rate
23% to 29%
These statements are forward-looking and actual results may differ materially. Refer to the Forward Looking Statements section below for information on the factors that could cause our actual results to differ materially from these statements. Everpure has not reconciled its guidance for non-GAAP operating income and related year-over-year growth rate to their most directly comparable GAAP measures because certain items that impact these measures are not within Everpure's control and/or cannot be reasonably predicted. Accordingly, reconciliations of these non-GAAP financial measures guidance to the corresponding GAAP measures are not available without unreasonable effort.
Conference Call Information
Everpure will host a teleconference to discuss the fiscal fourth quarter and full year 2026 results at 2:00 pm PT today, February 25, 2026. A live audio broadcast of the conference call will be available on the Everpure Investor Relations website. Everpure will also post its earnings presentation and prepared remarks to this website concurrent with this release.
A replay will be available following the call on the Everpure Investor Relations website or for two weeks at 1-800-770-2030 (or 1-647-362-9199 for international callers) with passcode 5667482.
Additionally, Everpure is scheduled to participate at the following investor conferences:
Bernstein 4th Annual TMT ForumDate: Thursday, February 26, 2026Time: 3:30 p.m. PT / 6:30 p.m. ETChief Executive Officer Charlie Giancarlo
Susquehanna 15th Annual Technology Virtual ConferenceDate: Friday, February 27, 2026Time: 9:20 a.m. PT / 12:20 p.m. ETChief Technology and Growth Officer Rob Lee
Morgan Stanley Technology, Media & Telecom ConferenceDate: Monday, March 2, 2026Time: 1:50 p.m. PT / 4:50 p.m. ETChief Financial Officer Tarek Robbiati
About Everpure
Everpure (NYSE:PSTG) allows organizations to take control of their data with an industry-leading, ever-evolving storage and data management platform. We help companies unleash the power of their data by ensuring it is secure, accessible, intelligent, and ready to perform in the AI era. We make data management effortless while simultaneously scaling performance and significantly reducing energy consumption. With one of the highest Net Promoter Scores for over a decade, Everpure is the choice of the world's most innovative organizations. For more information, visit www.Everpuredata.com.
The company will begin trading as Everpure on the New York Stock Exchange as of March 5, 2026. The ticker symbol (NYSE:PSTG) remains unchanged.
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Everpure, the Everpure P Logo, Portworx, Pure Storage and the marks in the Everpure Trademark List are trademarks or registered trademarks of Everpure Inc. or its licensed subsidiaries in the U.S. and/or other countries. The Trademark List can be found at everpuredata.com/trademarks. Other names may be trademarks of their respective owners.
Forward Looking Statements
This press release contains forward-looking statements regarding our products, business and operations, including but not limited to our views relating to our future period financial and business results, our ability to manage potential disruptions to our supply chain, our ability to procure a sufficient supply of flash and other components, the impact of recent increases in component costs, the anticipated effects and timing of our pending acquisition of 1touch, our opportunity relating to hyperscale and AI environments, our ability to meet hyperscalers' performance, price and other requirements, our ability to expand with our current hyperscale customer and to land new hyperscale customers, our ability to meet the needs of hyperscalers for the entire spectrum of their online storage use cases, the timing and magnitude of large orders, including sales to hyperscalers and large enterprises, the structure, timing and amount of revenue from hyperscaler licensing and support services, demand for our products and subscription services, including Evergreen//One, the relative sales mix between our subscription and consumption offerings and traditional capital expenditure sales, our technology and product strategy, specifically ongoing development and customer adoption of new products and the Enterprise Data Cloud architecture (including Everpure Fusion), priorities around sustainability and energy saving benefits to our customers of using our products, our ability to perform during current macro conditions and expand market share, the impact of inflation, currency fluctuations, tariffs, or other adverse economic conditions, our expectations regarding our product and technology differentiation, new investments and partnerships, and other statements regarding our products, business, operations and results. Forward-looking statements are subject to known and unknown risks and uncertainties and are based on potentially inaccurate assumptions that could cause actual results to differ materially from those expected or implied by the forward-looking statements.
Actual results may differ materially from the results predicted, and reported results should not be considered as an indication of future performance. The potential risks and uncertainties that could cause actual results to differ from the results predicted include, among others, those risks and uncertainties included under the caption "Risk Factors" and elsewhere in our filings and reports with the U.S. Securities and Exchange Commission, which are available on our Investor Relations website at investor.everpuredata.com and on the SEC website at www.sec.gov. Additional information is also set forth in our Annual Report on Form 10-K for the fiscal year ended February 2, 2025. All information provided in this release and in the attachments is as of February 25, 2026, and Everpure undertakes no duty to update this information unless required by law.
Key Performance Metrics
Subscription ARR is a key business metric that refers to the annualized recurring contract value of all active, non-cancelable customer subscription agreements with subscription terms of any length at the end of the quarter, plus on-demand billings for the quarter multiplied by four.
Total Contract Value (TCV) Sales, or bookings, of Everpure's Evergreen//One and similar consumption- and subscription-based offerings is an operating metric, representing the value of orders received during the period.
Non-GAAP Financial Measures
To supplement our unaudited condensed consolidated financial statements, which are prepared and presented in accordance with GAAP, Everpure uses the following non-GAAP financial measures: non-GAAP gross profit, non-GAAP gross margin, non-GAAP operating income (loss), non-GAAP operating margin, non-GAAP net income (loss), non-GAAP net income (loss) per share, and free cash flow.
We use these non-GAAP financial measures for financial and operational decision-making and as a means to evaluate period-to-period comparisons. Our management believes that these non-GAAP financial measures provide meaningful supplemental information regarding our performance and liquidity by excluding certain expenses such as stock-based compensation expense, payroll tax expense related to stock-based activities, amortization of debt issuance costs related to debt, amortization of acquired intangible assets, restructuring costs related to severance and termination benefits, costs associated with the impairment and early exit of certain leased facilities, and gains and losses from mark-to-market adjustments on strategic investments that may not be indicative of our ongoing core business operating results. Everpure believes that both management and investors benefit from referring to these non-GAAP financial measures in assessing our performance and when analyzing historical performance and liquidity and planning, forecasting, and analyzing future periods. The presentation of these non-GAAP financial measures is not meant to be considered in isolation or as a substitute for our financial results prepared in accordance with GAAP, and our non-GAAP measures may be different from non-GAAP measures used by other companies.
For a reconciliation of these non-GAAP financial measures to GAAP measures, please see the tables captioned "Reconciliations of non-GAAP results of operations to the nearest comparable GAAP measures" and "Reconciliation from net cash provided by operating activities to free cash flow," included at the end of this release.
EVERPURE, INC.
Condensed Consolidated Balance Sheets
(in thousands, unaudited)
At the End of Fiscal
2026
2025
Assets
Current assets:
Cash and cash equivalents
$ 854,873
$ 723,583
Marketable securities
692,446
798,237
Accounts receivable, net of allowance of $203 and $940
944,844
680,862
Inventory
75,935
42,810
Deferred commissions, current
139,379
99,286
Prepaid expenses and other current assets
356,015
222,501
Total current assets
3,063,492
2,567,279
Property and equipment, net
587,022
461,731
Operating lease right-of-use assets
185,975
146,655
Deferred commissions, non-current
280,190
229,334
Intangible assets, net
7,346
19,074
Goodwill
365,075
361,427
Restricted cash
7,687
12,553
Other assets, non-current
177,472
165,889
Total assets
$ 4,674,259
$ 3,963,942
Liabilities and stockholders' equity
Current liabilities:
Accounts payable
$ 153,312
$ 112,385
Accrued compensation and benefits
347,205
230,040
Accrued expenses and other liabilities
184,338
156,791
Operating lease liabilities, current
44,080
43,489
Deferred revenue, current
1,181,055
953,836
Debt, current
—
100,000
Total current liabilities
1,909,990
1,596,541
Operating lease liabilities, non-current
172,063
137,277
Deferred revenue, non-current
1,046,442
841,467
Other liabilities, non-current
100,096
82,182
Total liabilities
3,228,591
2,657,467
Stockholders' equity:
Common stock and additional paid-in capital
2,624,790
2,674,533
Accumulated other comprehensive income
1,709
954
Accumulated deficit
(1,180,831)
(1,369,012)
Total stockholders' equity
1,445,668
1,306,475
Total liabilities and stockholders' equity
$ 4,674,259
$ 3,963,942
EVERPURE, INC.
Condensed Consolidated Statements of Operations
(in thousands, except per share data, unaudited)
Fourth Quarter of Fiscal
Fiscal Year Ended
2026
2025
2026
2025
Revenue:
Product
$ 618,471
$ 494,780
$ 1,971,678
$ 1,699,494
Subscription services
440,432
385,062
1,691,165
1,468,670
Total revenue
1,058,903
879,842
3,662,843
3,168,164
Cost of revenue:
Product (1)
208,092
189,901
651,444
575,347
Subscription services (1)
110,724
95,940
433,446
380,108
Total cost of revenue
318,816
285,841
1,084,890
955,455
Gross profit
740,087
594,001
2,577,953
2,212,709
Operating expenses:
Research and development (1)
243,161
215,009
963,291
804,405
Sales and marketing (1)
323,269
263,845
1,181,488
1,020,914
General and administrative (1)
86,459
72,680
318,358
286,231
Restructuring and impairment (2)
—
—
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