Pure Storage Inc. reported its financial results for the first quarter of fiscal year 2026, showing a total revenue of $778.5 million, which marks a 12% increase year-over-year. The company's subscription services revenue grew by 17% year-over-year, reaching $406.3 million, and its subscription annual recurring revenue $(ARR)$ increased by 18% to $1.7 billion. Pure Storage reported remaining performance obligations (RPO) of $2.7 billion, up 17% from the previous year. The GAAP gross margin was reported at 68.9%, while the non-GAAP gross margin stood at 70.9%. The company reported a GAAP operating loss of $31.2 million, in contrast to a non-GAAP operating income of $82.7 million. The GAAP operating margin was recorded at (4.0)%, compared to a non-GAAP operating margin of 10.6%. Operating cash flow for the quarter was $283.9 million, with a free cash flow of $211.6 million. Pure Storage had a total of $1.6 billion in cash, cash equivalents, and marketable securities and returned approximately $120 million to stockholders through share repurchases of 2.5 million shares. For the second quarter of fiscal year 2026, Pure Storage provided guidance with a revenue forecast of $845 million, representing a 10.6% year-over-year growth rate. The company expects a non-GAAP operating income of $125 million and a non-GAAP operating margin of 14.8%. For the full fiscal year 2026, Pure Storage forecasts revenue of $3.515 billion, which indicates an 11% year-over-year growth rate, with a non-GAAP operating income of $595 million and a non-GAAP operating margin of 17.0%.