Pure Storage And CEO Giancarlo Stare Down COVID-19
All-flash storage technology developer Pure Storage on Tuesday reported its fiscal 2021 second quarter financials, with revenue up 2 percent year-over-year to $403.7 million, GAAP net loss down slightly to $65.0 million, and non-GAAP net income up considerably to $17.5 million.
CEO Charles Giancarlo told CRN in an exclusive meeting that the quarter‘s results were better than expected given the impact the COVID-19 pandemic has had on business and society for the past several months. One financial highlight was the growth of subscription services, which now account for about one-third of the company’s entire revenue, and is continuing to grow.
The pandemic also had other impacts for the company. Giancarlo himself experienced the coronavirus first-hand early in the pandemic when he was infected with it, but recovered. Pure Storage was forced to move its Pure Accelerate 2020 conference to a virtual format, a move which Giancarlo said actually lead to more interactions with clients and an increased sales pipeline compared to past physical conferences with only 10 percent of the cost. That, he said, has the company wondering whether to stick with virtual conferences going forward, or whether preferences for face-to-face relationships will win out.
For a look at these issues and more, turn the page to get caught up with Giancarlo and Pure Storage.
