Everpure (P) 2026 Evercore Global TMT Conference summary

Financial performance and guidance

• Achieved a record billion-dollar Q1, with 35% overall revenue growth and 55% product revenue growth, indicating significant market share gains.

• Raised full-year revenue guidance from 19% to 22% after a strong Q1, but did not increase second-half guidance due to market uncertainties and prudent forecasting.

• Maintains a conservative approach to second-half guidance, relying on pipeline and backlog visibility of one to two quarters.

• Gross margins on product remain high (65%-70%), allowing for smaller and later price increases compared to competitors.

• Q1 growth attributed to both price increases and genuine market share gains, with expectations for continued share growth as pricing changes flow through.

AI and data infrastructure strategy

• Emphasizes that enterprise AI readiness is primarily a data challenge, not just a compute issue, due to fragmented data across applications.

• Acquired 1touch to help customers catalog and rationalize data, positioning for the emerging market of enterprise AI data preparation.

• FlashBlade and FlashBlade//EXA products support large-scale AI environments, with capabilities for hundreds to hundreds of thousands of GPUs.

• Portworx is widely used in data pipelines, supporting ETL and AI workloads.

• Sees a major opportunity in helping enterprises achieve data consistency and management for AI, moving beyond traditional storage.

Hyperscaler and neocloud engagement

• Provides DirectFlash technology to hyperscalers, offering 30%-40% price/performance improvements, longer lifetimes, and lower failure rates than SSDs.

• Hyperscaler engagements operate on a royalty model per DirectFlash Module, with gross margins typically between 75%-85%.

• Qualification cycles with hyperscalers remain lengthy due to their broader design processes, despite increased interest.

• Neoclouds and GPU clouds are emerging as new customer segments, with FlashBlade//EXA now addressing their needs for high-performance, reliable storage.

• Investment in R&D (20% of revenue) supports rapid feature development and positions the company as the largest R&D spender in storage.