Everpure posts first $1 billion revenue quarter - the numbers are making the case for the rebrand

Just two days after Pure Storage rebranded as Everpure, the company delivered its first ever $1 billion revenue quarter as part of its latest set of earnings, with many of the numbers pointing to why the leadership team felt it necessary to frame its future intent in the market under a new name.

Fourth quarter revenue came in at $1.1 billion, up 20% year-on-year, whilst full-year revenue was $3.7 billion, up 16%. Operating profit for the year hit $635 million at a 17.3% margin. Free cash flow was $616 million. Subscription ARR grew 16% to $1.9 billion. The stock jumped 8.62% in after-hours trading on the news.

I wrote on Monday that the rebrand from Pure Storage to Everpure is more than a marketing exercise and reflects where buyers are at this moment in time. Everpure sticking to its flash storage roots, albeit with good ...