Everpure (P) Q1 2027 earnings summary

Executive summary

• Q1 FY27 revenue grew 35% year-over-year to $1.1 billion, driven by strong demand for FlashArray, FlashBlade, and subscription services.

• Non-GAAP operating income rose over 90% to $159 million, with net income reaching $24.1 million, compared to a net loss last year.

• Subscription annual recurring revenue (ARR) increased 19% to $2.04 billion, with RPO up 41% to $3.8 billion.

• Customer base expanded to over 14,500, including 64% of Fortune 500 companies.

• Completed acquisition of 1touch, enhancing data intelligence, security, and AI data management capabilities.

Financial highlights

• Product revenue up 55% year-over-year to $619 million; subscription services revenue up 17% to $476 million.

• Non-GAAP gross margin was 70.1%; product gross margin at 65.5%; subscription gross margin at 75.6%.

• Operating cash flow was $180 million; free cash flow was $112 million.

• Total cash, cash equivalents, and marketable securities stood at $1.5 billion.

• Returned $84 million to shareholders via repurchases of 1.3 million shares.

Outlook and guidance

• Q2 FY27 revenue guidance: $1.095B–$1.105B, representing 27–28% year-over-year growth; non-GAAP operating income guidance: $195M–$205M.

• FY27 revenue guidance raised to $4.41B–$4.51B (20–23% growth); non-GAAP operating income guidance raised to $820M–$860M (29–36% growth).

• Majority of hyperscale product revenue expected in Q3 and Q4.

• Ongoing investments in R&D, sales, and international expansion planned to support growth.