Pure Storage, Inc. (NYSE: PSTG) rose Tuesday after the company reported upbeat Q3 results. The company issued strong FY19 sales guidance.
The company, based in Mountain View, California, prides itself on being "the all-flash storage leader that helps innovators build a better world with data."
Revenue for PSTG came in at $372.8 million, up 34% Y/Y, exceeding the high end of company guidance. Gross margin was 66.8% GAAP; 68.1% non-GAAP, representing an all-time high.
Operating margin: -7.3% GAAP; 9.1% non-GAAP, up 3.4 ppts and 5.4 ppts Y/Y, respectively.
Net loss was $28.2 million, compared to $29.4 million in the prior-year quarter.
Said CEO Charles Giancarlo, "Pure delivered another excellent quarter, and today we're announcing the extension of Pure's data centric architecture to the cloud. With the launch of our new Pure Storage Cloud Data Services, we're bringing our storage software directly to the public cloud in partnership with AWS (Amazon Web Services)"
Fourth-quarter fiscal guidance called for revenue in the range of $438 million to $446 million. Non-GAAP gross margin was in the range of 64.5% to 67.5%. Non-GAAP operating margin in the range of 8% to 12%
Monday, the company announced Pure Storage Cloud Data Services, a suite of new cloud offerings that run natively on AWS. With these new products, customers will be able to invest in a single storage architecture that unifies application deployments on-premises and in the public cloud to flexibly turn data into value virtually anywhere.
Shares ran counter to the general gloom and actually gained 74 cents, or 4.2%, to $18.27
