Everpure said its Subscription ARR growth rate, year over year, slowed to 25% at the end of fiscal 2024 and to 22% at the end of Q3 of fiscal 2025, while RPO growth declined from 31% to 16%. The company said lower-than-expected Total Contract Value (TCV) sales of Evergreen//One were the cause.

10-QQuarterly reportFiled Dec 12, 2024Period of report Nov 3, 2024Summary published (UTC) Oct 23, 2026

Key points

AI summary

Everpure said its Subscription ARR growth rate, year over year, slowed to 25% at the end of fiscal 2024 and to 22% at the end of Q3 of fiscal 2025, while RPO growth declined from 31% to 16%. The company said lower-than-expected Total Contract Value (TCV) sales of Evergreen//One were the cause.
The company said RPO was $2.4 billion at the end of Q3, and it expects to recognize about 47% of that amount over the next 12 months. United States revenue grew from $535.5 million to $561.9 million in Q3, while rest of the world revenue rose from $227.4 million to $269.2 million.
Everpure said higher sales of its FlashBlade//E, FlashArray//E and FlashArray//C solutions drove the decline in product gross margin. It cited automation of its service logistics workflows and lower depreciation from extending the estimated useful lives of Evergreen//One assets as factors that increased subscription services gross margin.
The company said cash, cash equivalents and marketable securities at the end of Q3 were $1.6 billion. For Q3 and the first 3 quarters combined, it repurchased and retired approximately 3.6 million shares at an average price of $50.53 for a total of $182.0 million, and about $213.4 million remained under its repurchase authorization.

Key figures

Quarter ended November 3, 2024

Revenue: $831M
Operating income: $60M
Net income: $64M
EPS: $0.19
Gross profit: $583M

From the XBRL financial data filed with the SEC · not processed by AI.

Summary

AI-written

Analysis scope · Management's discussion (MD&A)We analyzed the Management's Discussion and Analysis (MD&A) section. Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

Subscription ARR and RPO Growth Slow

Everpure said its Subscription ARR growth rate, year over year, slowed to 25% at the end of fiscal 2024 and to 22% at the end of Q3 of fiscal 2025, while RPO growth declined from 31% to 16%. The company said lower-than-expected Total Contract Value (TCV) sales of Evergreen//One were the cause.

Source · Based on the MD&A text of the filing

RPO of $2.4 billion and Revenue by Region

The company said RPO was $2.4 billion at the end of Q3, and it expects to recognize about 47% of that amount over the next 12 months. United States revenue grew from $535.5 million to $561.9 million in Q3, while rest of the world revenue rose from $227.4 million to $269.2 million.

Source · Based on the MD&A text of the filing

Lower Product Gross Margin and Higher Subscription Services Margin

Everpure said higher sales of its FlashBlade//E, FlashArray//E and FlashArray//C solutions drove the decline in product gross margin. It cited automation of its service logistics workflows and lower depreciation from extending the estimated useful lives of Evergreen//One assets as factors that increased subscription services gross margin.

Source · Based on the MD&A text of the filing

Liquidity and Share Repurchases

The company said cash, cash equivalents and marketable securities at the end of Q3 were $1.6 billion. For Q3 and the first 3 quarters combined, it repurchased and retired approximately 3.6 million shares at an average price of $50.53 for a total of $182.0 million, and about $213.4 million remained under its repurchase authorization.

Source · Based on the MD&A text of the filing

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.

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