BENGALURU and SANTA CLARA, Calif. Everpure (NYSE: P), the company revolutionizing storage and data management, today announced financial results for its second quarter fiscal year 2027 ended August 2, 2026.
“Q2 marks eight straight quarters of accelerating revenue growth for Everpure, and confirmed our position as the most innovative and vital company in our industry,” said Charles Giancarlo, Chairman and CEO of Everpure. “Our expansion into Data Intelligence, and our increasing momentum in AI and hyperscale products, ensures we are well-positioned to capture enduring long-term growth.”
Second Quarter Financial Highlights
- Revenue $1.2 billion, up 38% year-over-year
- Product revenue $687 million, up 54% year-over-year
- Subscription services revenue $499 million, up 20% year-over-year
- Subscription annual recurring revenue (ARR) $2.1 billion, up 20% year-over-year
- Remaining performance obligations (RPO) $4.1 billion, up 44% year-over-year
- GAAP gross margin 68.4%; non-GAAP gross margin 69.9%
- GAAP operating income $63 million; non-GAAP operating income $230 million
- GAAP operating margin 5.3%; non-GAAP operating margin 19.4%
- Operating cash flow $(136) million; free cash flow $(238) million
- Total cash, cash equivalents, and marketable securities $1.0 billion
- Returned approximately $69 million to stockholders through share repurchases of 0.9 million shares.
“Q2 was another outstanding quarter for Everpure, where we delivered record revenue and operating profit, exceeding the high-end of our guidance,” said Everpure CFO Tarek Robbiati. “Demand remains strong across our solutions portfolio despite historic industry price increases in the first half of FY’27. We are raising guidance significantly for the second half of the year to reflect our confidence in continued revenue momentum.”
Second Quarter Company Highlights
Second Top-Five Hyperscale Win Announced on August 10 a landmark design win with a second top-five hyperscaler, leveraging Everpure’s advanced DirectFlash® architecture to drastically lower operational costs and reclaim vital power and rack space for hyperscale workloads.
Advancing Enterprise Data & AI Infrastructure
- Unveiled the Data Primacy architecture at //Accelerate 2026, Everpure Data Intelligence for automated data discovery and governance.
- Announced general availability of Everpure Data Stream to automate data pipelines from ingestion to inference and accelerate data preparation.
- Evolved Pure1 AI Copilot from a conversational assistant into an active operator that analyzes performance anomalies, provides step-by-step root-cause analysis, and guides teams to resolution.
Expanding Hybrid Cloud & Virtualization
- Introduced Portworx for Edge on Red Hat OpenShift and expanded Portworx by Everpure to bring native Kubernetes data management, including storage, data protection, and disaster recovery, directly into the Red Hat OpenShift console.
- Announced general availability of Everpure Cloud Azure Native for Azure Virtual Machines, extending the fully managed enterprise block storage service across public cloud environments.
Driving Strategic Ecosystem Partnerships
- Achieved general availability of Everpure FlashBlade integration into Cisco Intersight, delivering native onboarding, complete inventory visibility, and unified health dashboards.
- Announced the Everpure OpenSharing Connector, enabling Databricks to query Iceberg and Delta tables directly on Everpure object storage without data replication or egress fees.
Industry Recognition & Impact
- Named a Leader in the 2026 Gartner® Magic Quadrant™ for Enterprise Storage Platforms, positioned highest in execution and furthest in vision for the second consecutive year.
- Named to the PEOPLE® Companies That Care by Great Place to Work® and PEOPLE® magazine.
- Named Virtualization Transformation Partner of the Year in the 2026 Red Hat Ecosystem Innovation Awards and recognized as a Leader in The Forrester Wave™: Object Storage Solutions, Q2 2026.
- CEO Charles Giancarlo was recognized on CRN’s The 25 Most Influential Executives Of 2026 list.
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