SANTA CLARA, California, May 27, 2026, 15:05 (PDT)
- Everpure was last seen at $85.74, off roughly 2.8%, as the data-storage firm posted its first-quarter numbers.
- Everpure reported a 35% jump in revenue to $1.05 billion with product revenue up 55%. The company also raised its outlook for revenue and operating profit for fiscal 2027.
- The numbers beat forecasts, but higher memory and component costs are still putting pressure on margins at Everpure, NetApp, Dell, and HPE.
Everpure fell after hours Wednesday, with shares down 2.8% at $85.74. The drop came as the company, previously Pure Storage, beat first-quarter estimates and raised guidance for the full year. The stock moved between $74.17 and $90.68 as investors questioned margins from the AI storage wave despite the solid top-line numbers.
Everpure is in focus as it sits at the intersection of strong trades in AI data infrastructure and tight memory chip supply. The company reported after NYSE core hours, which run 9:30 a.m. to 4:00 p.m. Eastern, during a week shortened by Monday’s Memorial Day closure.
Everpure posted first-quarter fiscal 2027 revenue of $1.05 billion, up 35% from last year. Product revenue jumped 55% to $577 million. Subscription services brought in $476 million, a 17% increase. Subscription annual recurring revenue, or ARR, climbed 19% to hit $2 billion.
Everpure said remaining performance obligations were $3.8 billion, up 41% from a year earlier. GAAP operating income came in at $20 million. On a non-GAAP basis, which cuts out some items, operating income was $159 million.
Diluted earnings came in at 47 cents a share on an adjusted basis, topping the 40-cent consensus from MarketBeat. MarketBeat also said revenue for the quarter beat the roughly $998 million expectation from analysts.
Everpure’s management now sees fiscal 2027 revenue of $4.41 billion to $4.51 billion, up from its previous outlook of $4.3 billion to $4.4 billion. The company also bumped non-GAAP operating income guidance to $820 million to $860 million, compared with the old range of $780 million to $820 million.
Chief Executive Charles Giancarlo said the quarter showed “deepening trust” from customers, linking the 1touch acquisition with Everpure’s effort to cut “infrastructure friction” for companies handling data in AI systems. Chief Financial Officer Tarek Robbiati called it a “challenging supply chain environment” but said demand remained broad. Everpure Investor
Everpure is pushing to expand beyond storage hardware. The company wrapped its rebrand from Pure Storage to Everpure in the quarter and changed its stock ticker to P. It also closed the 1touch deal, bringing data discovery, classification and security-posture tools into the Everpure platform.
Wall Street was looking for earnings of 40 cents a share and $1.01 billion in revenue, according to Zacks ahead of the report. Zacks said growth was expected to get a push from enterprise and hyperscaler demand. Hyperscalers are big cloud and data-center outfits that buy large amounts of computing gear.
Storage vendors are moving on prices as AI data center demand puts pressure on memory supply, ITPro reported this week. Dell, HPE, NetApp and Everpure have all adjusted pricing, according to the report. “Pricing and quoting are now a moving feast,” Ian Foddering, vice president of Europe at SHI, told ITPro. IT Pro
NetApp, which competes with storage makers directly, has said it could hike prices again if necessary. HPE, according to the same report, is switching to shorter quote cycles to keep margins up. NetApp shares gained 2.8% recently. Dell was flat. That left Everpure’s shares looking weaker after results, compared to other hardware names.
But the risk here isn’t minor. If memory and flash prices stay up, Everpure faces a choice: raise prices again for customers or let product margins slip. Lead times stretching out or shipment delays could also make revenue less steady quarter to quarter. Everpure flagged plenty of risk in its release, naming component supply, hyperscaler purchasing, tariffs, currency swings and inflation.
Everpure brought more revenue growth, raised its guidance, showed cash flow, and handed out buybacks—hitting what investors look for. But the stock’s move suggests the focus is shifting. The market is asking if Everpure can keep this up or if rising memory costs start to hurt its AI-storage business.
