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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 software, didn’t sensibly reflect the company’s current offering in a market redefining itself around data management and AI readiness.
The Q4 and full-year numbers landed as a kind of confirmation of that argument. But they also contain details worth examining carefully, particularly for enterprise buyers who are now being asked to think about Everpure in a different commercial category than the one they originally bought into.
The numbers that support the strategic shift
Whilst achieving its first $1 billion quarter is good news for Everpure, I’d argue that the more interesting figure is the 80% year-on-year growth in deals over $5 million. CEO Charles Giancarlo used the phrase "franchise deals" on the earnings call to describe what he's seeing at the top end of the market - conversations that have moved beyond individual workloads into customers asking Everpure to become their primary or sole strategic storage partner. That's a different kind of commercial relationship than a hardware refresh cycle that Everpure might have historically been engaged with. It suggests the Enterprise Data Cloud pitch is landing at the level where it needs to, with the people who make strategic infrastructure decisions, not just storage procurement ones.
Remaining performance obligations grew 40% in Q4 too, well ahead of subscription revenue growth at 14%. CFO Tarek Robbiati explained this on the call as customers moving to longer-term Evergreen contract renewals:
The RPO is really the best measure of latent revenue and momentum that we have in the business.
He's right. The RPO number tells you where the installed base is committing, and a 40% growth rate suggests that commitment is deepening.
The hyperscaler business also exceeded expectations for the full-year, with hyperscaler revenues expecting to carry gross margins of 75% to 85%. For a business that started its hyperscaler journey only in the past year, that's a meaningful development, and speaks to why the leadership team felt confident enough to rebrand around a larger platform ambition rather than consolidate around what was already working.
The 1touch acquisition
The acquisition of 1touch - announced alongside the rebrand on Monday and expected to close in Q2 FY2027 - was outlined by Giancarlo and CTO Rob Lee on the call too.
The core problem that Everpure is aiming to solve with the acquisition is one where enterprises want to use their operational data for AI, but need it to stay where it is - inside finance systems, HR systems, CRM systems - under existing access controls and audit frameworks. The ETL-heavy process of extracting and transforming data into separate analytics environments is slow, expensive, and increasingly at odds with the real-time demands of enterprise AI. 1touch brings data discovery, classification, and semantic context that makes data AI-ready at the source, without that extraction step. As Giancarlo put it:
Instead of managing storage, they're managing data.What we're doing with 1touch now is we will be able to add the ability to provide context around the data…when we talk about AI using data, it doesn't really use data. It uses data that's been highly transformed into information that is self-describing so that AI can use it. That process of going from data to self-describing information is done with a lot of work by companies.
Data governance and safe use is a high priority for other vendors in the market, with the realization that this is what makes AI usable in enterprise environments. Everpure isn’t the only one seeking to ‘own’ this space. Lee was careful on the call to frame 1touch's data security management capabilities as complementary to Everpure's existing partner ecosystem rather than competitive with it, which might signal that the company is still working out exactly where its boundaries sit in a crowded category.
What diginomica's own CIO network data does confirm is that the underlying problem is real. Our November 2025 research, covering 35 CIOs and CTOs, found that 93% of organizations are using AI but only 21.4% report success rates above 80% - with data quality and disconnected systems the primary blockers, not compute or model quality. Our January 2026 micro-pulse on AI projects, 124 respondents, showed persistent frustration with the gap between POC and production. What Everpure is building its new identity around is looking to solve these frustrations for buyers through more effective data management.
My take
The Q4 print gives Everpure's leadership exactly what they needed in the week of the rebrand - a set of numbers large enough and broad-based enough to make the strategic argument feel financially grounded rather than aspirational. The ‘franchise’ deal momentum, the RPO growth, the hyperscaler boost: these suggest that the company is genuinely in transition rather than one repainting its logo.
The harder question, as I wrote on Monday, is whether the data management category Everpure is now staking its identity on will accept a company whose primary commercial relationship with most of its customers is still infrastructure. The installed base is moving to the Enterprise Data Cloud - there’s an internal target of 98% to 100% migration, and the engineering organization is now shipping features EDC-first. That's how you move an installed base, and it's the right approach.
The financial foundation is strong enough to make the attempt, but execution matters more than ever.