Key Takeaways:
- Revenue rose 38% to $1.19 billion, with product sales up 54%
- FY27 revenue guidance raised to $5.03-$5.07 billion from $4.41-$4.51 billion
- Landed second top-five hyperscaler design win using DirectFlash architecture
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Everpure revenue jumps 38% to $1.2B as hyperscale wins mount
Everpure reported Q2 fiscal 2027 revenue of $1.19 billion, up 38% year over year, marking eight straight quarters of accelerating growth.
"Q2 marks eight straight quarters of accelerating revenue growth for Everpure, and confirmed our position as the most innovative and vital company in our industry," Charles Giancarlo, chairman and chief executive officer at Everpure, said.
Product revenue rose 54% to $687 million, while subscription services revenue climbed 20% to $499 million. Subscription annual recurring revenue reached $2.1 billion, up 20%, and remaining performance obligations grew 44% to $4.1 billion. GAAP operating income was $63 million, with non-GAAP operating income of $230 million and a non-GAAP operating margin of 19.4%. Net income came in at $74 million, or 21 cents a diluted share.
The company raised full-year guidance to revenue of $5.03 billion to $5.07 billion, up from a prior range of $4.41 billion to $4.51 billion, implying 37% to 38% growth. Non-GAAP operating income is now expected at $940 million to $960 million, up from $820 million to $860 million. For the third quarter, Everpure guided revenue of $1.325 billion to $1.335 billion.
Everpure also announced a design win with a second top-five hyperscaler, using its DirectFlash architecture to cut operational costs and reclaim power and rack space for hyperscale workloads. The company unveiled its Data Primacy architecture and made Everpure Data Stream generally available, while expanding Portworx for Edge on Red Hat OpenShift and Everpure Cloud Azure Native for Azure Virtual Machines. It also achieved general availability of FlashBlade integration into Cisco Intersight and launched an OpenSharing Connector letting Databricks query Iceberg and Delta tables directly on Everpure object storage.
CFO Tarek Robbiati said demand remains strong across the portfolio despite historic industry price increases in the first half of fiscal 2027. The company returned about $69 million to stockholders through share repurchases of 0.9 million shares and held $1.0 billion in cash, cash equivalents, and marketable securities. Operating cash flow was negative $136 million, with free cash flow of negative $238 million.
The guidance raise points to management's expectation that AI and hyperscale demand will accelerate through the second half. Investors will watch the company's financial analyst meeting on Sept. 23 for an update on long-term strategy and growth framework.
This article is for informational purposes only and does not constitute investment advice.
