Pure Storage achieved a 9 percent revenue increase, driven by product sales and subscriptions, and secured a major deal with a top four hyperscaler for flash storage.
CEO Charlie Giancarlo emphasized the significance of being the first flash memory vendor to win such an order, foreseeing broader adoption of flash in hyperscalers.
Despite a dip in quarterly profits, Pure's annual recurring revenue from subscriptions grew by 22 percent to $1.6 billion, indicating a strong business model.
The deal with a major hyperscaler is pivotal as it challenges the dominance of HDDs, which still account for 70 percent of the global storage market.
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