Pure Storage’s subscription offerings cross $1 billion in ARR

pure storage

Bangalore: Data storage technology company Pure Storage reported a strong adoption and growth of its subscription service offerings in the third quarter of the fiscal year 2023. Pure Storage’s subscription offerings including its Evergreen portfolio crossed $1 billion in ARR (annual recurring revenue) for the first time.

The company also introduced a new energy efficiency service level agreement (SLA) for Evergreen//One. The new SLA is claimed to be the first and only energy efficiency guarantee in the enterprise storage as a service market.

The new SLA, according to Pure Storage supports its mission to provide customers with the most sustainable storage technology to meet their goals.

Pure Storage’s subscription services witnessed a noticeable growth due to increased demand from existing and new customers.

During the third quarter of FY 2023, Pure Storage subscription offerings including its Evergreen portfolio, Pure Cloud Block Store and Portworx achieved $1 billion in ARR for the first time, with an increase of 30% YoY.

While its subscription services revenue rose 30% YoY to $244.8 million in the ended third quarter.

A recent IT Sustainability Impact Survey revealed that 86% of sustainability program directors recognise that companies cannot reach their sustainability goals without significantly reducing their technology infrastructure energy usage. However, organisations cannot manage sustainability without a reliable and consistent way of measuring it.

Through Pure Storage’s global partner ecosystem, Evergreen//One enables customers to not only benefit from continuous innovation, financial flexibility, and operational agility but achieve new levels of energy efficiency by measuring Watts per TiB to meet long-term sustainability goals.

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