Everpure

History

Everpure traces its roots to 2009 when John Colgrove and John Hayes founded Pure Storage with the goal of disrupting enterprise storage with all-flash arrays. Over its first 15 years, Pure Storage built a reputation for innovative hardware, the Evergreen subscription model that eliminated forklift upgrades, and strong customer experience. By early 2026, the company had grown to over $3.6 billion in annual revenue and decided to rebrand as Everpure to better represent its shift from reshaping storage to redefining data management, as stated by CEO Charles Giancarlo.

Business Model

Everpure operates primarily through a subscription-based model, with its Evergreen//One offering providing storage-as-a-service with guaranteed performance and capacity. The company also sells perpetual hardware licenses and services, but the subscription ARR has grown to $1.9 billion, representing a significant portion of total revenue. The Enterprise Data Cloud platform ties together on-premises and cloud environments, enabling recurring revenue from data management, governance, and AI copilot features.

Products and Platforms

The flagship platform is the Enterprise Data Cloud (EDC), announced in late 2025. Key products within the EDC ecosystem include FlashBlade//EXA, a high-throughput scale-out storage platform optimised for AI training and inference, which holds the highest SPECstorage AI_Image benchmark score ever recorded. Evergreen//One is now extended to support AI workloads. Everpure Data Stream (beta, 2026) automates data pipelines from ingestion to inference. Portworx by Everpure provides Kubernetes-native data services for containerised applications. Everpure Cloud Azure Native is a fully managed block-storage service developed jointly with Microsoft Azure. Pure1 AI Copilot offers an AI-powered assistant for storage management, incorporating Model Context Protocol servers.

Market Position and Financials

Everpure competes with incumbent storage vendors like Dell EMC and NetApp, as well as cloud-native alternatives. The company differentiates through its all-flash architecture, subscription flexibility, and AI-focused platform. In Q4 FY2026, Everpure reported revenue of $1.1 billion (up 20% YoY) and full-year FY2026 revenue of $3.7 billion (up 16% YoY). Subscription ARR grew 16% to $1.9 billion, and remaining performance obligations hit $3.7 billion (up 40% YoY). The company maintains a non-GAAP gross margin of 72.1% and generated $880 million in operating cash flow in FY2026.

Recent Developments

In December 2025, Everpure acquired 1touch, a data discovery and classification startup, to enhance data preparation for AI. The company also deepened its partnership with NVIDIA, aligning FlashBlade//EXA with NVIDIA STX reference architectures for the Vera Rubin GPU platform. The rebranding to Everpure in January 2026 marked a strategic pivot towards becoming a comprehensive data platform provider, with the Enterprise Data Cloud at the centre of its go-forward strategy.