Pure Storage, Inc.
PSTGQ2 2025(PSTG Q1 FY2026)Estimated10% AI
AI Revenue %
10%
AI Fair Value
$1.0B
AI Revenue (Q)
$69.3M
Total Revenue (Q)
$693.5M
Source: SEC EDGAR 10-Q Filing
View 10-Q on SEC.govAnalysis
FlashBlade//EXA formally launched for GPU clouds and HPC. Nutanix partnership for integrated solutions. Revenue: $778M (up from $693M Y/Y, +12%). Product revenue: $372M. Cost of product revenue jumped significantly ($141M vs $101M Y/Y, +40%), suggesting ramp-up of new hardware shipments. Forward-looking statements still mention 'timing and magnitude of sales in connection with our design win announcement with a hyperscaler,' indicating Meta shipments beginning. Estimate increased to 10% as enterprise AI storage deployments mature and early hyperscaler revenue begins.
Analyzed by claude-opus-4-6
Quoted Figures
we further expanded our AI portfolio with the introduction of FlashBlade//EXA, the industry's most powerful storage platform, to empower the most demanding specialty GPU clouds and high performance computing (HPC) environments
10-Q, Q1 FY2026, Item 2 MD&A Recent Key Developments
Product $372,144; Subscription services $406,341; Total revenue $778,485
10-Q, Q1 FY2026, Condensed Consolidated Statements of Operations
AI Products Identified (Ring 1)
FlashBlade//EXA (GPU clouds and HPC)FlashBlade//S500 (NVIDIA DGX SuperPOD)AIRI (AI-Ready Infrastructure)Evergreen//One for AIDirectFlash (Meta)
AI-Enabled Items (Ring 2 — Not Counted)
These items use AI but are not counted in the AI revenue estimate because they primarily serve non-AI functions.
FlashArray (general enterprise storage)Portworx (container data services)Pure Fusion (cloud architecture)
Confidence Tier
EstimatedNo direct AI revenue disclosure — estimated from product mix