Pure Storage’s Revenue by Region (2016-2023)

This statistic highlights Pure Storage’s Revenue by Region, split between the United States and the Rest of the world, reported on a quarterly basis from Q1 2016 onwards.

Pure Storage’s Revenue by Region

(All figures are in millions, except percentages)

The total revenue has risen through the passing quarters. In Q3 2021, it was $410.619 million which increased to $496.831 million in the second quarter of 2022 and to $562.74 million in the latest quarter thereby marking a YoY growth of 37.05%. There was a quarter-on-quarter growth of 13.27% from Q2 to Q3 2022.

United States

This region’s revenue advances gradually through the above-mentioned quarters. The States contribute the highest amount of revenue as compared to collective contributions from the rest of the world. Thus, majority of the company’s customers hail from this region. Though the revenue amount has increased with time, the revenue mix of the respective quarterly totals witnessed a decline from 74% in Q3 2021 to 71% in Q2 2022. However, the latest quarter marked a revenue of $408.732 million which comprised a rather significant 72.63% of the quarterly total, thereby showing a rise from the previous quarter’s revenue mix. YoY growth of 35.3% from Q3 2021 to 2022 was recorded by the region. Quarter-on-quarter revenue growth from Q2 to Q3 2022 was 15.73%. 

Rest of the World

For Pure Storage, their market in the rest of the world comprises countries like the United Kingdom, Australia, Canada, India, Ireland, the Netherlands, France, Germany, Switzerland—in this order of usage. Pure Storage does not compute its revenue by breaking down revenue garnered by every foreign region–the revenue is collectively recorded under the division ‘Rest of the World’. In the latest quarter, revenue peaked at $154.008 million thereby marking a QoQ growth of 7.21% from Q2 to Q3 2022. The YoY growth from Q3 2021 to 2022 was 41.9%. The YoY growth for this region was greater than the growth of revenue from the States. Unlike the amount of revenue which has increased through the quarters, the revenue mix of the Rest of the World was around 26% in the third quarter of 2021, increased to 29% in the second quarter of 2022, and dropped in the latest quarter by marking a revenue mix of 27%. 

About the Company

Founded in 2009 by Charles H. Giancarlo, Pure Storage’s focus was to deliver innovative as well as disruptive data storage solutions and technology which enable customers to maximize their data value. In the company’s first decade itself, they changed their customers’ expectations of what they should see from storage vendors and storage arrays, to make flash storage largely available to enterprise organizations and to revolutionize the experience of customers with their subscription model—Evergreen Storage, which was completely simplified and storage ownership’s total cost was reduced. At present, they provide their customers with a cloud experience with data services that are flexible consumption on-demand by delivering a Modern Data Experience empowering organizations to run automated, true, storage-as-a-service model operations seamlessly across several clouds. The company’s headquarters are in California. The company is listed on the NYSE under the ticker symbol ‘PSTG’.

Pure Storage’s global customer base, stood at 8,700 at the end of the fiscal year—2021. This comprised around 48% of the Fortune 500. Great enterprises and smaller organizations with restricted experience in Information Technology expertise or limited budget, benefit by using their technology.  The company has deployed its products as well as subscription services to customers spanning several geographic regions and industry verticals. Pure Storage as a company, defines a ‘customer’ as an entity purchasing their products and services either directly from them or from one of their channel partners.

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