Pure Storage Inc
NYSE: PSTG · TECHNOLOGY · COMPUTER HARDWARE
Updated 2026-04-16
Pure Storage Inc (PSTG) Financial statements
SEC filings — annual and quarterly data.
Income statement — annual
| Item | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $42.73M | $174.45M | $440.33M | $739.17M | $1.02B | $1.36B | $1.64B | $1.68B | $2.18B | $2.75B | $2.83B | $3.17B | $3.66B |
| Revenue growth (YoY) | — | +308.2% | +152.4% | +67.9% | +38.6% | +32.7% | +20.9% | +2.5% | +29.5% | +26.3% | +2.8% | +11.9% | +15.6% |
| Cost of revenue | $24.13M | $77.55M | $167.89M | $252.28M | $353.78M | $457.53M | $509.89M | $535.25M | $708.33M | $855.79M | $809.43M | $955.46M | $1.08B |
| Gross profit | $18.60M | $96.90M | $272.44M | $475.70M | $669.24M | $902.30M | $1.13B | $1.15B | $1.47B | $1.90B | $2.02B | $2.21B | $2.58B |
| Gross margin | 43.5% | 55.5% | 61.9% | 64.4% | 65.3% | 66.4% | 69.0% | 68.2% | 67.5% | 68.9% | 71.4% | 69.8% | 70.4% |
| R&D | $36.08M | $92.71M | $166.65M | $245.82M | $279.20M | $349.94M | $433.66M | $480.47M | $581.93M | $692.53M | $736.76M | $804.40M | $963.29M |
| SG&A | $5.90M | $32.35M | $75.40M | $84.65M | $95.17M | $137.51M | $163.15M | $182.48M | $189.98M | $238.00M | $252.24M | $286.23M | $300.01M |
| Operating income | $-78.13M | $-180.48M | $-210.18M | $-221.27M | $-167.43M | $-169.26M | $-191.28M | $-261.03M | $-98.40M | $83.51M | $53.55M | $85.26M | $114.82M |
| Operating margin | -182.8% | -103.5% | -47.7% | -29.9% | -16.3% | -12.4% | -11.6% | -15.5% | -4.5% | 3.0% | 1.9% | 2.7% | 3.1% |
| EBITDA | $-73.70M | $-165.09M | $-177.93M | $-169.40M | $-94.23M | $-84.78M | $-77.06M | $-168.72M | $-8.67M | $196.99M | $222.49M | $282.30M | $379.44M |
| EBITDA margin | -172.5% | -94.6% | -40.4% | -22.9% | -9.2% | -6.2% | -4.7% | -10.0% | -0.4% | 7.2% | 7.9% | 8.9% | 10.4% |
| EBIT | $-78.13M | $-180.48M | $-210.18M | $-219.60M | $-155.97M | $-155.66M | $-166.77M | $-238.76M | $-91.82M | $96.56M | $98.07M | $155.65M | $231.62M |
| Interest expense | $0.00 | $0.00 | $0.00 | $44000.00 | $19000.00 | $21.61M | $27.90M | $31.40M | $36.68M | $4.75M | $7.48M | $7.81M | $7.34M |
| Income tax | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Effective tax rate | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Net income | $-78.56M | $-183.23M | $-213.75M | $-245.07M | $-177.60M | $-178.36M | $-200.99M | $-282.08M | $-143.26M | $73.07M | $61.31M | $106.74M | $188.18M |
| Net income growth (YoY) | — | -133.2% | -16.7% | -14.6% | +27.5% | -0.4% | -12.7% | -40.3% | +49.2% | +151.0% | -16.1% | +74.1% | +76.3% |
| Profit margin | -183.8% | -105.0% | -48.5% | -33.2% | -17.3% | -13.1% | -12.2% | -16.7% | -6.6% | 2.7% | 2.2% | 3.4% | 5.1% |
Frequently asked questions
What is Pure Storage Inc's revenue?
Pure Storage Inc's trailing twelve-month revenue is $3.66B, and consensus projects about $7.65B by 2030. Revenue is the top line the whole model builds on, and at this scale the question shifts from how fast it grows to whether margins hold as it compounds.
How profitable is PSTG?
In its most recent fiscal year, PSTG ran a gross margin of 70.38%, an operating margin of 3.13%, and a net margin of 5.14%. Margins this high mean most of each extra dollar of revenue drops through to profit, which is the signature of real pricing power.
How much free cash flow does PSTG generate?
PSTG produced $615.74M in free cash flow in its most recent fiscal year. Free cash flow is what is left after running and reinvesting in the business, and it is the cash that actually funds buybacks, dividends, and a stronger balance sheet.