PEverpure
Everpure, formerly known as Pure Storage, is a global technology company providing an integrated storage and data management platform. 10-K, Item 1
- Employees
- 6,400
- Headquarters
- Santa Clara, CA
- CEO
- Charles H. Giancarlo
- Next results
- around Dec 1, 2026
The biggest changes in the 10-K filed 2026-03-25, this fiscal year against the last, and the sentences in the MD&A (Item 7) where management explains them, quoted word for word. Tickdelta picks sentences that name the line, a direction and a cause. It does not write explanations of its own.
Net income
+76.3% Big change FY to 2026-02-01 vs 2025-02-02“The increase in other income (expense), net during fiscal 2026 compared to fiscal 2025 was primarily driven by higher net foreign exchange gains as the U.S. dollar weakened relative to certain foreign currencies and gain from the sale of an equity security, partially offset by a decrease in interest income from a lower balance in cash, cash equivalents and marketable securities and a lower interest rate environment.”
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“The decrease in provision for income taxes during fiscal 2026 compared to fiscal 2025 was primarily driven by a decrease in U.S. taxable income due to the enactment of the One Big Beautiful Bill Act (OBBBA), which removed the requirement for domestic research and development capitalization under Section 174.”
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Cash from operations
+16.8% Big change FY to 2026-02-01 vs 2025-02-02“The year-over-year increase in net cash provided by operating activities was primarily driven by higher net income of $137.0 million, when excluding non-cash items, partially offset by a decrease of $10.5 million from changes in operating assets and liabilities.”
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Revenue
+15.6% Big change FY to 2026-02-01 vs 2025-02-02“The increase in product revenue during fiscal 2026 compared to fiscal 2025 was primarily driven by sales to enterprise customers of FlashArray//XL, FlashArray//X, and our //E family of solutions as well as royalties from hyperscaler shipments.”
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“The increase in subscription services revenue during fiscal 2026 compared to fiscal 2025 was largely driven by increases in sales of our Evergreen//One consumption and subscription-based offerings and renewals of our Evergreen subscription services across our installed base.”
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Gross margin
69.8% → 70.4% (+0.5 pts) FY to 2026-02-01 vs 2025-02-02“The slight increase in product gross margin during fiscal 2026 when compared to fiscal 2025 was primarily due to product mix and, to a lesser extent, royalties from hyperscaler shipments, partially offset by higher component costs.”
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“Subscription services gross margin remained relatively consistent during fiscal 2026 when compared to fiscal 2025 primarily driven by continued optimization and increased efficiencies in our technical services operations, combined with cost benefits from automating our service logistics workflows that support delivery of our Evergreen subscription services to our installed base, partially offset by amortization of capitalized software costs for the development of Everpure Fusion and Everpure Cloud Azure Native and higher employee compensation and related costs.”
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Operating margin
2.7% → 3.1% (+0.4 pts) FY to 2026-02-01 vs 2025-02-02“Research and development expenses consist primarily of employee compensation and related expenses, prototype expenses, depreciation associated with assets acquired for research and development, data center and cloud services costs, third-party engineering and contractor support costs, as well as allocated overhead.”
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“The increase in research and development expense during fiscal 2026 compared to fiscal 2025 was primarily driven by an increase in employee compensation and related costs, including stock-based compensation and, to a lesser extent, an increase in equipment depreciation, and facilities-related costs.”
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Changes are computed from the XBRL figures in the same 10-K. Hover a number to see the line item. Open the 10-K ↗
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