Q3 total revenue growth of 16% year-over-year Increases full-year revenue and operating profit guidance
SANTA CLARA, Calif., Dec. 2, 2025 /PRNewswire/ — Pure Storage (NYSE: PSTG), the IT pioneer that delivers the world’s most advanced data storage technologies and services, today announced financial results for its third quarter fiscal year 2026 ended November 2, 2025.
“Pure Storage delivered another strong quarter as global customers increasingly choose Pure to solve their toughest data management challenges,” said Charles Giancarlo, Pure Storage CEO and Chairman. “Competitive advantage in the AI era demands data accessibility. Pure’s Enterprise Data Cloud breaks data free from application silos, allowing enterprises to harness the power of AI, automation, and analytics.”
Third Quarter Financial Highlights
Revenue $964.5 million, up 16% year-over-year
Subscription services revenue $429.7 million, up 14% year-over-year
Subscription annual recurring revenue (ARR) $1.8 billion, up 17% year-over-year
Remaining performance obligations (RPO) $2.9 billion, up 24% year-over-year
GAAP gross margin 72.3%; non-GAAP gross margin 74.1%
GAAP operating income $53.9 million; non-GAAP operating income $196.2 million
GAAP operating margin 5.6%; non-GAAP operating margin 20.3%
Operating cash flow $116.0 million; free cash flow $52.6 million
Total cash, cash equivalents, and marketable securities $1.5 billion
Returned approximately $53 million to stockholders through share repurchases of 0.6 million shares.
“In the third quarter, we generated strong revenue and record operating profit, exceeding the high end of our guidance,” said Pure Storage CFO Tarek Robbiati. “To sustain this momentum beyond FY26, we will continue to make significant incremental investments in both research and development and sales and marketing to capture additional profitable growth opportunities consistent with our long-term strategy.”
Third Quarter Company Highlights
Simplifying workload expansion with a unified data plane
Expanded the Enterprise Data Cloud into the public cloud with the introduction of Pure Storage Cloud Azure Native, developed jointly with Microsoft – the industry’s first fully managed, enterprise-grade block volume as a service.
Continued the evolution of the FlashArray family with FlashArray//XL190 R5, FlashArray//X R5, and FlashArray//C R5.
Advancing Pure Storage’s intelligent control plane
Expanded Pure1 AI Copilot with Portworx Pure1 AI Copilot, the first AI-powered platform engineering assistant for Portworx customers and announced integration of Pure1 AI Copilot with Model Context Protocol (MCP) servers.
Bridged the gap between traditional and modern applications with the integration of Portworx and Pure Fusion.
Expanding our partner ecosystem to deliver greater value through integrated cybersecurity and data protection
Industry recognition and accolades
Fourth Quarter and FY26 Guidance
|
Q4FY26 |
|
|
Revenue |
$1.02B to $1.04B |
|
Revenue YoY Growth Rate |
16.5% to 17.6% |
|
Non-GAAP Operating Income |
$220M to $230M |
|
Non-GAAP Operating Income YoY Growth Rate |
43.7% to 50.2% |
|
FY26 |
||
|
Prior Guidance |
New Guidance |
|
|
Revenue |
$3.60B to $3.63B |
$3.63B to $3.64B |
|
Revenue YoY Growth Rate |
13.5% to 14.5% |
14.5% to 14.9% |
|
Non-GAAP Operating Income |
$605M to $625M |
$629M to $639M |
|
Non-GAAP Operating Income YoY Growth Rate |
8.2% to 11.7% |
12.4% to 14.2% |
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. Pure 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 Pure’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 Pure Storage will host a teleconference to discuss the third quarter fiscal 2026 results at 2:00 pm PT today, December 2, 2025. A live audio broadcast of the conference call will be available on the Pure Storage Investor Relations website. Pure 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 Pure Storage Investor Relations website or for two weeks at 1-800-770-2030 (or 1-647-362-9199 for international callers) with passcode 5667482.
Additionally, Pure is scheduled to participate at the following investor conferences:
UBS Global Technology & AI Conference Date: Thursday, December 4, 2025
Time: 8:55 a.m. PT / 11:55 a.m. ET
Chief Technology Officer Rob Lee
28th Annual Needham Growth Virtual Conference Date: Thursday, January 15, 2026
Time: 9:00 am PT / 12:00 pm ET
Founder and Chief Visionary Officer John “Coz” Colgrove
About Pure Storage Pure Storage (NYSE: PSTG) delivers the industry’s most advanced data storage platform to store, manage, and protect the world’s data at any scale. With Pure Storage, organizations have ultimate simplicity and flexibility, saving time, money, and energy. From AI to archive, Pure Storage delivers a cloud experience with one unified Storage-as-a-Service platform across on-premises, cloud, and hosted environments. Our platform is built on our Evergreen architecture that evolves with your business – always getting newer and better with zero planned downtime, guaranteed. Our customers are actively increasing their capacity and processing power while significantly reducing their carbon and energy footprint. It’s easy to fall in love with Pure Storage, which is why we’ve received one of the highest Net Promoter Scores in the industry across the years. For more information, visit www.purestorage.com.
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Pure Storage, the Pure P Logo, Portworx, and the marks on the Pure Storage Trademark List are trademarks or registered trademarks of Pure Storage Inc. in the U.S. and/or other countries. The Trademark List can be found at purestorage.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 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 Pure 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, our sustainability goals and benefits, the impact of inflation, currency fluctuations, tariffs, economic or supply chain disruptions, our expectations regarding our product and technology differentiation, new technology 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.purestorage.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 December 2, 2025, and Pure 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 Pure’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, Pure 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 intangible assets acquired from acquisitions, 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. Pure 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.
|
PURE STORAGE, INC. |
||||
|
Condensed Consolidated Balance Sheets |
||||
|
(in thousands, unaudited) |
||||
|
At the End of |
||||
|
Third Quarter of |
Fiscal 2025 |
|||
|
Assets |
||||
|
Current assets: |
||||
|
Cash and cash equivalents |
$ 852,838 |
$ 723,583 |
||
|
Marketable securities |
678,775 |
798,237 |
||
|
Accounts receivable, net of allowance of $204 and $940 |
620,959 |
680,862 |
||
|
Inventory |
82,421 |
42,810 |
||
|
Deferred commissions, current |
109,370 |
99,286 |
||
|
Prepaid expenses and other current assets |
307,891 |
222,501 |
||
|
Total current assets |
2,652,254 |
2,567,279 |
||
|
Property and equipment, net |
566,336 |
461,731 |
||
|
Operating lease right-of-use-assets |
194,409 |
146,655 |
||
|
Deferred commissions, non-current |
240,113 |
229,334 |
||
|
Intangible assets, net |
9,407 |
19,074 |
||
|
Goodwill |
364,742 |
361,427 |
||
|
Restricted cash |
19,151 |
12,553 |
||
|
Other assets, non-current |
171,999 |
165,889 |
||
|
Total assets |
$ 4,218,411 |
$ 3,963,942 |
||
|
Liabilities and Stockholders’ Equity |
||||
|
Current liabilities: |
||||
|
Accounts payable |
$ 128,022 |
$ 112,385 |
||
|
Accrued compensation and benefits |
244,939 |
230,040 |
||
|
Accrued expenses and other liabilities |
159,827 |
156,791 |
||
|
Operating lease liabilities, current |
43,599 |
43,489 |
||
|
Deferred revenue, current |
1,028,636 |
953,836 |
||
|
Debt, current |
— |
100,000 |
||
|
Total current liabilities |
1,605,023 |
1,596,541 |
||
|
Operating lease liabilities, non-current |
181,948 |
137,277 |
||
|
Deferred revenue, non-current |
931,768 |
841,467 |
||
|
Other liabilities, non-current |
96,783 |
82,182 |
||
|
Total liabilities |
2,815,522 |
2,657,467 |
||
|
Stockholders’ equity: |
||||
|
Common stock and additional paid-in capital |
2,681,966 |
2,674,533 |
||
|
Accumulated other comprehensive income |
2,006 |
954 |
||
|
Accumulated deficit |
(1,281,083) |
(1,369,012) |
||
|
Total stockholders’ equity |
1,402,889 |
1,306,475 |
||
|
Total liabilities and stockholders’ equity |
$ 4,218,411 |
$ 3,963,942 |
||
|
PURE STORAGE, INC. |
|||||||
|
Condensed Consolidated Statements of Operations |
|||||||
|
(in thousands, except per share data, unaudited) |
|||||||
|
Third Quarter of Fiscal |
First Three Quarters of Fiscal |
||||||
|
2026 |
2025 |
2026 |
2025 |
||||
|
Revenue: |
|||||||
|
Product |
$ 534,760 |
$ 454,735 |
$ 1,353,207 |
$ 1,204,714 |
|||
|
Subscription services |
429,693 |
376,337 |
1,250,733 |
1,083,608 |
|||
|
Total revenue |
964,453 |
831,072 |
2,603,940 |
2,288,322 |
|||
|
Cost of revenue: |
|||||||
|
Product (1) |
152,006 |
154,970 |
443,352 |
385,446 |
|||
|
Subscription services (1) |
115,070 |
93,180 |
322,722 |
284,168 |
|||
|
Total cost of revenue |
267,076 |
248,150 |
766,074 |
669,614 |
|||
|
Gross profit |
697,377 |
582,922 |
1,837,866 |
1,618,708 |
|||
|
Operating expenses: |
|||||||
|
Research and development (1) |
256,364 |
200,086 |
720,130 |
589,396 |
|||
|
Sales and marketing (1) |
293,817 |
255,830 |
858,219 |
757,069 |
|||
|
General and administrative (1) |
93,278 |
67,319 |
231,899 |
213,551 |
|||
|
Restructuring and impairment (2) |
— |
— |
— |
15,901 |
|||
|
Total operating expenses |
643,459 |
523,235 |
1,810,248 |
1,575,917 |
|||
|
Income from operations |
53,918 |
59,687 |
27,618 |
42,791 |
|||
|
Other income (expense), net |
11,790 |
17,156 |
89,145 |
50,684 |
|||
|
Income before provision for income taxes |
65,708 |
76,843 |
116,763 |
93,475 |
|||
|
Income tax provision |
10,902 |
13,204 |
28,834 |
29,171 |
|||
|
Net income |
$ 54,806 |
$ 63,639 |
$ 87,929 |
$ 64,304 |
|||
|
Net income per share attributable to common stockholders, basic |
$ 0.17 |
$ 0.19 |
$ 0.27 |
$ 0.20 |
|||
|
Net income per share attributable to common stockholders, diluted |
$ 0.16 |
$ 0.19 |
$ 0.26 |
$ 0.19 |
|||
|
Weighted-average shares used in computing net income per share attributable |
329,570 |
327,675 |
327,901 |
325,530 |
|||
|
Weighted-average shares used in computing net income per share attributable |
345,747 |
340,564 |
341,019 |
341,490 |
|||
|
(1) Includes stock-based compensation expense as follows: |
|||||||
|
Cost of revenue — product |
$ 4,378 |
$ 3,216 |
$ 11,793 |
$ 9,443 |
|||
|
Cost of revenue — subscription services |
9,293 |
7,800 |
25,014 |
24,632 |
|||
|
Research and development |
63,598 |
49,227 |
173,194 |
150,390 |
|||
|
Sales and marketing |
26,298 |
24,393 |
74,909 |
72,330 |
|||
|
General and administrative |
30,920 |
16,436 |
63,245 |
62,161 |
|||
|
Total stock-based compensation expense |
$ 134,487 |
$ 101,072 |
$ 348,155 |
$ 318,956 |
|||
|
(2) Includes expenses for severance and termination benefits related to workforce realignment and lease impairment and abandonment charges associated with cease-use of our former corporate headquarters. |
|
PURE STORAGE, INC. |
|||||||
|
Condensed Consolidated Statements of Cash Flows |
|||||||
|
(in thousands, unaudited) |
|||||||
|
Third Quarter of Fiscal |
First Three Quarters of Fiscal |
||||||
|
2026 |
2025 |
2026 |
2025 |
||||
|
Cash flows from operating activities |
|||||||
|
Net income |
$ 54,806 |
$ 63,639 |
$ 87,929 |
$ 64,304 |
|||
|
Adjustments to reconcile net income to net cash provided by operating |
|||||||
|
Depreciation and amortization |
37,786 |
27,702 |
107,483 |
97,529 |
|||
|
Stock-based compensation expense |
134,487 |
101,072 |
348,155 |
318,956 |
|||
|
Noncash portion of lease impairment and abandonment |
— |
— |
— |
3,270 |
|||
|
(Gain) loss on strategic investment |
2,915 |
— |
(27,486) |
— |
|||
|
Other |
3,681 |
2,381 |
10,708 |
5,107 |
|||
|
Changes in operating assets and liabilities, net of effects of acquisition: |
|||||||
|
Accounts receivable, net |
(90,527) |
(161,723) |
59,854 |
83,998 |
|||
|
Inventory |
(29,957) |
5,071 |
(42,225) |
(1,590) |
|||
|
Deferred commissions |
(9,468) |
669 |
(20,863) |
6,822 |
|||
|
Prepaid expenses and other assets |
(86,928) |
(38,438) |
(120,329) |
(65,444) |
|||
|
Operating lease right-of-use assets |
11,466 |
9,383 |
31,424 |
25,911 |
|||
|
Accounts payable |
15,203 |
33,755 |
12,057 |
20,597 |
|||
|
Accrued compensation and other liabilities |
35,268 |
7,781 |
35,870 |
(70,951) |
|||
|
Operating lease liabilities |
(12,079) |
(12,096) |
(35,592) |
(30,353) |
|||
|
Deferred revenue |
49,340 |
57,797 |
165,101 |
86,934 |
|||
|
Net cash provided by operating activities |
115,993 |
96,993 |
612,086 |
545,090 |
|||
|
Cash flows from investing activities |
|||||||
|
Purchases of property and equipment (1) |
(63,419) |
(61,788) |
(197,792) |
(170,641) |
|||
|
Purchase of strategic investments |
— |
— |
— |
(6,081) |
|||
|
Acquisition |
(4,263) |
— |
(4,263) |
— |
|||
|
Purchases of marketable securities and other |
(69,667) |
(43,632) |
(325,795) |
(308,002) |
|||
|
Sales of marketable securities |
23,994 |
12,817 |
294,981 |
61,241 |
|||
|
Maturities of marketable securities |
17,120 |
131,994 |
154,627 |
329,978 |
|||
|
Sale of strategic investment |
52,485 |
— |
52,485 |
— |
|||
|
Net cash provided by (used in) investing activities |
(43,750) |
39,391 |
(25,757) |
(93,505) |
|||
|
Cash flows from financing activities |
|||||||
|
Proceeds from exercise of stock options |
4,743 |
3,426 |
18,201 |
21,194 |
|||
|
Proceeds from issuance of common stock under employee stock purchase plan |
28,802 |
26,408 |
56,042 |
51,736 |
|||
|
Payments of financing costs for revolving credit facility |
— |
— |
(2,080) |
— |
|||
|
Principal payments on borrowings and finance lease obligations |
(2,317) |
(1,786) |
(103,442) |
(5,721) |
|||
|
Tax withholding on vesting of equity awards |
(85,779) |
(54,905) |
(203,240) |
(141,591) |
|||
|
Repurchases of common stock |
(53,269) |
(181,999) |
(215,447) |
(181,999) |
|||
|
Net cash used in financing activities |
(107,820) |
(208,856) |
(449,966) |
(256,381) |
|||
|
Net increase in cash, cash equivalents and restricted cash |
(35,577) |
(72,472) |
136,363 |
195,204 |
|||
|
Cash, cash equivalents and restricted cash, beginning of period |
909,690 |
979,807 |
737,750 |
712,131 |
|||
|
Cash, cash equivalents and restricted cash, end of period |
$ 874,113 |
$ 907,335 |
$ 874,113 |
$ 907,335 |
|||
|
(1) Includes capitalized internal-use software costs of $10.4 million and $6.0 million for the third quarter of fiscal 2026 and 2025 and $26.0 million and $15.8 million for the first three quarters of fiscal 2026 and 2025. |
|
Reconciliations of non-GAAP results of operations to the nearest comparable GAAP measures |
||||||||||||||||||||||||
|
The following table presents non-GAAP gross margins by revenue source before certain items (in thousands except percentages, unaudited): |
||||||||||||||||||||||||
|
Third Quarter of Fiscal 2026 |
Third Quarter of Fiscal 2025 |
|||||||||||||||||||||||
|
GAAP results |
GAAP gross margin (a) |
Adjustment |
Non- GAAP results |
Non- GAAP gross margin (b) |
GAAP results |
GAAP gross margin (a) |
Adjustment |
Non- GAAP results |
Non- GAAP gross margin (b) |
|||||||||||||||
|
$ 4,378 |
(c) |
$ 3,216 |
(c) |
|||||||||||||||||||||
|
165 |
(d) |
103 |
(d) |
|||||||||||||||||||||
|
2,402 |
(e) |
3,306 |
(e) |
|||||||||||||||||||||
|
Gross profit — |
$ 382,754 |
71.6 % |
$ 6,945 |
$ 389,699 |
72.9 % |
$ 299,765 |
65.9 % |
$ 6,625 |
$ 306,390 |
67.4 % |
||||||||||||||
|
$ 9,293 |
(c) |
$ 7,800 |
(c) |
|||||||||||||||||||||
|
609 |
(d) |
368 |
(d) |
|||||||||||||||||||||
|
Gross profit — |
$ 314,623 |
73.2 % |
$ 9,902 |
$ 324,525 |
75.5 % |
$ 283,157 |
75.2 % |
$ 8,168 |
$ 291,325 |
77.4 % |
||||||||||||||
|
$ 13,671 |
(c) |
$ 11,016 |
(c) |
|||||||||||||||||||||
|
774 |
(d) |
471 |
(d) |
|||||||||||||||||||||
|
2,402 |
(e) |
3,306 |
(e) |
|||||||||||||||||||||
|
Total gross profit |
$ 697,377 |
72.3 % |
$ 16,847 |
$ 714,224 |
74.1 % |
$ 582,922 |
70.1 % |
$ 14,793 |
$ 597,715 |
71.9 % |
||||||||||||||
|
(a) GAAP gross margin is defined as GAAP gross profit divided by revenue. |
|
(b) Non-GAAP gross margin is defined as non-GAAP gross profit divided by revenue. |
|
(c) To eliminate stock-based compensation expense. |
|
(d) To eliminate payroll tax expense related to stock-based activities. |
|
(e) To eliminate amortization expense of acquired intangible assets. |
|
The following table presents certain non-GAAP consolidated results before certain items (in thousands, except per share amounts and percentages, unaudited): |
||||||||||||||||||||||
|
Third Quarter of Fiscal 2026 |
Third Quarter of Fiscal 2025 |
|||||||||||||||||||||
|
GAAP results |
GAAP operating margin (a) |
Adjustment |
Non- GAAP results |
Non- GAAP operating margin (b) |
GAAP results |
GAAP operating margin (a) |
Adjustment |
Non- GAAP results |
Non- GAAP operating margin (b) |
|||||||||||||
|
$ 134,487 |
(c) |
$ 101,072 |
(c) |
|||||||||||||||||||
|
5,208 |
(d) |
2,991 |
(d) |
|||||||||||||||||||
|
2,632 |
(e) |
3,536 |
(e) |
|||||||||||||||||||
|
Operating |
$ 53,918 |
5.6 % |
$ 142,327 |
$ 196,245 |
20.3 % |
$ 59,687 |
7.2 % |
$ 107,599 |
$ 167,286 |
20.1 % |
||||||||||||
|
$ 134,487 |
(c) |
$ 101,072 |
(c) |
|||||||||||||||||||
|
5,208 |
(d) |
2,991 |
(d) |
|||||||||||||||||||
|
2,632 |
(e) |
3,536 |
(e) |
|||||||||||||||||||
|
106 |
(f) |
154 |
(f) |
|||||||||||||||||||
|
2,915 |
(g) |
— |
||||||||||||||||||||
|
Net income |
$ 54,806 |
$ 145,348 |
$ 200,154 |
$ 63,639 |
$ 107,753 |
$ 171,392 |
||||||||||||||||
|
Net income per |
$ 0.16 |
$ 0.58 |
$ 0.19 |
$ 0.50 |
||||||||||||||||||
|
Weighted- |
345,747 |
— |
345,747 |
340,564 |
— |
340,564 |
||||||||||||||||
|
(a) GAAP operating margin is defined as GAAP operating income divided by revenue. |
|
(b) Non-GAAP operating margin is defined as non-GAAP operating income divided by revenue. |
|
(c) To eliminate stock-based compensation expense. |
|
(d) To eliminate payroll tax expense related to stock-based activities. |
|
(e) To eliminate amortization expense of acquired intangible assets. |
|
(f) To eliminate amortization expense of debt issuance costs related to our debt. |
|
(g) To eliminate loss from mark-to-market adjustment on strategic investment. |
|
Reconciliation from net cash provided by operating activities to free cash flow (in thousands except percentages, unaudited): |
|||
|
Third Quarter of Fiscal |
|||
|
2026 |
2025 |
||
|
Net cash provided by operating activities |
$ 115,993 |
$ 96,993 |
|
|
Less: purchases of property and equipment (1) |
(63,419) |
(61,788) |
|
|
Free cash flow (non-GAAP) |
$ 52,574 |
$ 35,205 |
|
|
(1) Includes capitalized internal-use software costs of $10.4 million and $6.0 million for the third quarter of fiscal 2026 and 2025. |
SOURCE Pure Storage