The Six Five team takes a look at the recent Pure Storage earnings report.
If you are interested in watching the full episode you can check it out here.
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Transcript:
Patrick Moorhead: Hey, let’s move to the next. Let’s move this on.
Daniel Newman: Yeah. Super fast.
Patrick Moorhead: Pure rip it. Go
Daniel Newman: All right Pat. Well, you hit it on the head. That was the whole thing. 26% year on year growth, huge growth in customers. Their NPS story is world class, top 1% of companies in the marketplace. They’re seeing revenue growth. I’m sorry. Their guidance’s at 26%, their revenue growth at 30%, the subscription had over 30%. I don’t know what anyone’s talking about with the recession, but Pure Storage is absolutely rocking and rolling and their customers love using the technology. I know we’re on a really short period of time, so I’m going to just make one more comment and I’m going to pass it back to you, but this company is growing like hyper. It’s growing at the speed of Google Cloud, it’s growing at the speed of Azure, it’s growing at the speed of, twice as fast as Salesforce. It is an impressive growth rate right now for a company in boring, old storage, and so maybe storage is for boring when you put a new innovative spin on it. Great job Pure Storage, sorry we couldn’t talk more about it, but Pat has to go.
Patrick Moorhead: Pure, they saved the best infrastructure result for last. The 30% growth rates are cloud growth rates, which is obscene and amazing, and I loved what they put in there. As everybody’s talking about backlogs and lead times, normal lead times, that was a thumb to the nose of the NetApps and the Dells of the world.
Author Information
Daniel is the CEO of The Futurum Group. Living his life at the intersection of people and technology, Daniel works with the world’s largest technology brands exploring Digital Transformation and how it is influencing the enterprise.
From the leading edge of AI to global technology policy, Daniel makes the connections between business, people and tech that are required for companies to benefit most from their technology investments. Daniel is a top 5 globally ranked industry analyst and his ideas are regularly cited or shared in television appearances by CNBC, Bloomberg, Wall Street Journal and hundreds of other sites around the world.
A 7x Best-Selling Author including his most recent book “Human/Machine.” Daniel is also a Forbes and MarketWatch (Dow Jones) contributor.
An MBA and Former Graduate Adjunct Faculty, Daniel is an Austin Texas transplant after 40 years in Chicago. His speaking takes him around the world each year as he shares his vision of the role technology will play in our future.
