Pure Storage Q2 revenue up 6.5% to $688.7 million; GAAP operating loss of $6.2 million
Pure Storage reported fiscal second-quarter 2024 revenue of $688.7 million, up 6.5% year-over-year, but swung to a GAAP operating loss of $6.2 million and a net loss of $7.1 million, compared with operating income of $14.4 million and net income of $10.9 million a year earlier. The company also raised its annual non-GAAP operating margin guidance to 15.5%, and expects third-quarter revenue of $760 million.
Key points
- Revenue $688.7 million, up 6.5% year-over-year; subscription services revenue $288.9 million, up 24%
- GAAP operating loss $6.2 million versus operating income of $14.4 million in the prior-year quarter; GAAP net loss $7.1 million, or $(0.02) per share
- Non-GAAP operating income $111.8 million, a 16.2% non-GAAP operating margin
- Third-quarter fiscal 2024 revenue guidance of $760 million; fiscal 2024 non-GAAP operating margin guidance of 15.5%
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 1:30 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on August 30, 2023.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.