Pure Storage

Profile (continued)

Product line expanded with FlashBlade (2016, unstructured/file and object storage aimed at AI/analytics/HPC workloads, later extended as FlashBlade//EXA in 2025), the Evergreen subscription family (2015) that lets customers non-disruptively upgrade controllers/media under a single subscription, and Evergreen//One (2018), a true Storage-as-a-Service/consumption offering. Pure Storage made several acquisitions to broaden beyond arrays: StorReduce (August 2018, ~$25M, cloud data deduplication), Compuverde (April 2019, undisclosed, scale-out file software), and -- most significantly -- Portworx (announced August/closed September 2020, ~$370M), a Kubernetes-native container data management platform that became the core of Pure's cloud-native/DevOps strategy. In February 2026 the company announced a definitive agreement to acquire 1touch.io, a data intelligence/discovery and orchestration company, alongside a broader corporate rebrand.

Financially, Pure Storage grew from about $6M revenue in fiscal 2013 to $43M (FY2014), $174M (FY2015), and crossed $1 billion in annual revenue in fiscal 2018 (its first GAAP-profitable year). By fiscal 2023 subscription/ARR had surpassed $1.1 billion, and by fiscal Q4 2026 quarterly revenue exceeded $1 billion. As of August 19-20, 2026, trailing-twelve-month revenue was reported at roughly $3.94B (up ~21% y/y), with the stock trading around $112/share and a market capitalization of roughly $37.2 billion (per stockanalysis.com), reflecting strong investor enthusiasm tied to AI-era data infrastructure demand (the company has partnered with NVIDIA, Cisco and SK hynix on AI-optimized storage). The company also made a notable strategic investment, participating in a CoreWeave secondary share sale around November 2024 (per Wikipedia), signaling exposure to the AI-cloud infrastructure boom.

IMPORTANT / UNUSUAL FINDING -- CORPORATE REBRAND: Multiple independent-seeming sources (Wikipedia's Pure Storage/Everpure article, SEC EDGAR's submissions JSON for CIK 0001474432, a PR Newswire press release dated February 23, 2026 titled "Pure Storage Becomes Everpure; Announces Intent to Acquire 1touch," and stockanalysis.com's live quote page) consistently indicate that Pure Storage, Inc. formally renamed itself Everpure, Inc. in early 2026, with the new brand debuting in market communications on/around March 5, 2026. There is some inconsistency across sources about the ticker: the February 23, 2026 press release stated the ticker would remain NYSE: PSTG under the new name, while SEC EDGAR's current filer record and stockanalysis.com's live quote (as of August 19-20, 2026) show the ticker as simply "P" on NYSE. This suggests a ticker change occurred at some point after the initial rebrand announcement, or reflects source lag. Because this rebrand falls after this researcher's normal knowledge cutoff and could not be triple-verified via a fully independent, non-AI-summarized primary source (e.g., a manually rendered SEC filing or a second wire service), it is flagged here as a plausible-but-not-ironclad fact. For purposes of this record (which tracks the company historically known as, and originally invested in as, "Pure Storage"), the entry retains the name "Pure Storage" and historic ticker "PSTG,” with the rebrand fully documented in this narrative for the database maintainer's awareness. If confirmed false on further review, all "Everpure"-related content above should be disregarded and the company treated as continuously named Pure Storage, Inc. / NYSE: PSTG through 2026.

Competitively, Pure Storage/Everpure operates in the enterprise/AI data storage market against NetApp, Dell Technologies (PowerMax, PowerStore, Unity XT), Hewlett Packard Enterprise (HPE Alletra, 3PAR, Nimble Storage), IBM (Storage FlashSystem), Hitachi Vantara, Huawei, and newer all-flash/AI-storage entrants such as VAST Data and Infinidat, as well as open-source alternatives like TrueNAS. Pure has consistently been named a Leader in Gartner's Magic Quadrant for primary storage for roughly a decade-plus. A significant historical event was patent/trade-secret litigation with EMC (2013-2016) over alleged reverse engineering and trade secret theft, which the companies settled for $30 million in 2016. More recently, in 2024, Pure Storage was named among companies affected by a third-party Snowflake-account data breach; the company stated no customer PII was compromised, though some internal system information was accessed.

Go-to-market

Large and mid-size enterprises, cloud service providers, hyperscalers, government/public sector, and AI/HPC data centers requiring high-performance, low-power flash storage and unified data management.

Ownership

public