Everpure posts first $1 billion quarter as Pure Storage rebrand signals AI data management push

Everpure Announces Pure Storage Rebrand With Record Revenue

Pure Storage has officially rebranded as Everpure, a move that CEO Charles Giancarlo describes as reflecting the company's evolution from flash storage provider to comprehensive AI data management platform1

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. The timing coincides with the company's first $1 billion revenue quarter, with fourth quarter revenue reaching $1.1 billion, up 20% year-on-year1

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. Full-year revenue hit $3.7 billion, up 16%, while operating profit reached $635 million at a 17.3% margin1

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. The stock jumped 8.62% in after-hours trading following the announcement. Everpure will begin trading on the New York Stock Exchange under its new name on March 5, 2026, while maintaining its PSTG ticker symbol3

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Strategic Shift From Data Storage to Enterprise Data Cloud

The rebrand represents more than cosmetic changes. Giancarlo explained that "the name Everpure represents the next step as we continue to not only redefine storage, but now redefine data management at scale"3

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. John Colgrove, Pure Storage founder and current chief visionary officer, noted that as the company expands beyond data storage into data management and helping organizations use their data better, the brand evolution makes sense3

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. The financial results support this strategic shift from data storage, with deals over $5 million growing 80% year-on-year1

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. Giancarlo described these as "franchise deals" where customers ask Everpure to become their primary or sole strategic storage partner, representing a fundamentally different commercial relationship than traditional hardware refresh cycles1

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1touch Acquisition Advances AI Readiness Capabilities

Alongside the rebrand, Everpure announced a definitive agreement for the 1touch acquisition, expected to close in Q2 FY20271

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. The data security platform provides data intelligence and orchestration with a unified view of enterprise information2

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. The acquisition addresses a critical enterprise challenge: making data AI-ready without moving it from operational systems like finance, HR, and CRM platforms where it resides under existing access controls and audit frameworks1

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. Traditional ETL processes for extracting and transforming data into separate analytics environments are slow, expensive, and increasingly incompatible with real-time AI demands1

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. The 1touch platform automatically discovers, maps, and catalogs sensitive information across enterprise networks without requiring human expertise or programming3

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Data Discovery and Classification Enable AI at the Source

Giancarlo emphasized that the 1touch acquisition represents "a major advance towards creating the best enterprise data cloud platform in the world"3

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. He explained that AI doesn't actually use raw data but requires data that has been transformed into self-describing information with semantic context, a process that typically requires significant work by companies1

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. By integrating storage with 1touch's ability to discover, classify, contextualize, and enrich data across all datasets and environments—from SaaS to the edge—Everpure aims to ensure enterprise data becomes inherently AI-ready at the source3

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. Ashish Gupta, CEO and president of 1touch, stated that "data is the lifeblood of the AI era, but without the proper controls and semantic context, it remains an untapped resource"2

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Financial Momentum Signals Market Validation

Beyond the headline first $1 billion revenue quarter figure, other metrics demonstrate deepening customer commitment1

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. Remaining performance obligations grew 40% in Q4, substantially ahead of the 14% subscription revenue growth1

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. CFO Tarek Robbiati described RPO as "the best measure of latent revenue and momentum" in the business, with the 40% growth rate indicating customers are moving to longer-term Evergreen contract renewals1

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. Subscription ARR grew 16% to $1.9 billion, while free cash flow reached $616 million1

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. The hyperscaler business also exceeded expectations for the full year, with revenues expected to carry gross margins of 75% to 85%1

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. For a business that only started its hyperscaler business journey within the past year, this represents significant progress.

Data Governance Challenges Drive Enterprise Demand

The strategic pivot addresses documented enterprise pain points around AI implementation. Research from November 2025 covering 35 CIOs and CTOs found that 93% of organizations use AI but only 21.4% report success rates above 80%, with data quality and disconnected systems identified as primary blockers rather than compute or model quality1

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. Data governance and safe use have become high priorities across the market as vendors recognize these capabilities determine whether AI becomes usable in enterprise environments1

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. CTO Rob Lee positioned 1touch's data security platform capabilities as complementary to Everpure's existing partner ecosystem rather than competitive, potentially signaling the company continues refining exactly where its boundaries sit in a crowded category1

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. The combination of data contextualization capabilities with Everpure's enterprise data cloud architecture aims to give customers the foundation needed to move AI projects from pilot to production at speed3

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