Pure Storage: You thought we were just good for hot flash? Feel our cooling hybrid cloud Pure Storage is going to make hybrid public-private cloud data services available to customers, allowing them to, among other things, restore snapshots to either on-prem kit or AWS silos. A year or more ago, Pure recognized that selling flash boxes for on-premises enterprise use was limiting its appeal in a world where compute …
Hopefully not trying to follow in their footsteps.
https://www.netapp.com/us/media/earnings-summary-q2-fy19-250946.pdf
Netapp cloud services brings in $27m................from a company that does $2.2bn in All Flash Arrays alone. That shows market confidence right there.
Forget Pure's Marketing strategy I think Netapp's MARKETING *budget* is 10x more than what their cloud biz brings in after......how many years??!?
Oh back to the old financial viability. Boring. A picture shows a lot.
https://www.theregister.co.uk/2018/03/02/pure_billion_dollar_revenues_fy18/
Every quarter has beaten and exceeded. This Q they beat and exceeded and raised guidance across the board. They have $1.1bn in the bank and the 'loss' every quarter is what? $30m? Are you worrying?
Why bother with profit when you can just churn the money back into growth and not have to declare tax? Al la the Amazon way of business.
Also the earnings call transcript mentioned an IBM OEM. That's a big pipeline.
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