Everpure, Inc. (P) Earnings Call Transcript & Summary

Hello. Welcome to our Pure Storage webinar dedicated to the future of modern data storage solutions. I'm thrilled to have you all here today. We have a fantastic lineup of speakers who will guide us through the cutting-edge world of data storage. So joining us are 2 awesome individuals from Pure: our CEO, Charlie Giancarlo; and the General Manager of the Pure Digital Experience Group, a great friend of mine, Prakash Darji. So first off, Charlie is going to shed some light on the storage industry. He'll discuss the challenges it has faced and how Pure is at the forefront of meeting the needs of our customers, both now and as we look into the future. After that, we'll delve into a topic that is really close and near and dear to my heart, which is the clear and obvious steady decline of inefficient mechanical disk storage. So we'll explore how companies can swiftly embrace modern storage solutions to migrate off disk really without draining their budgets. And then to conclude our session, Prakash will come on and take the stage and unveil some groundbreaking technologies from Pure. These innovations are designed to provide you with a head start in rapidly evolving storage infrastructure. So get ready to be amazed. And Charlie, the floor is yours.

Thanks, Matt. To begin, I'd like to spend time discussing why you can feel confident in working with Pure Storage as your trusted partner. Put simply, Pure Storage is simply the most reliable partner in the data storage industry proven by our Net Promoter Score of 81.6. Our growing customer base has rewarded us with growth that has outpaced the market every year for the last decade. While other storage vendors have seen a decline in their market share, we've enjoyed steady growth because customers continue to choose Pure to be the future-ready partner over outdated legacy architectures. So why has Pure Storage been able to consistently outperform much larger competitors? Well, it starts with our focus on delivering outstanding outcomes for our customers. Our customers face increasing demands with fewer resources at their disposal. IT teams have to maintain business-critical applications through constant upgrade cycles. You have to implement new technologies and applications to help your businesses thrive. Supporting growing cloud initiatives and modern app development is time-consuming, and it's costly. Storage management costs have been increasing as well with inflation as well as energy costs, the software resources that are required to operationalize storage and the increasing wages of personnel who have to deliver against escalating requirements. All of this impacts budgets. And as a result, the cost to acquire storage is now matched or even exceeded by the inflationary cost to operate a storage estate. The need for both efficiency and effectiveness across your data landscape has never been more crucial. Automating routine tasks to free up resources for greater skills development is becoming increasingly vital in generating positive outcomes for businesses. Optimizing your consumption of technology, delivered as a service, while reducing your energy footprint and operational cost is paramount. These positive outcomes extend beyond the storage and IT estates. They will also contribute to your company's financial health. Pure Storage enables you to deliver those outcomes. As everybody knows, modern flash storage dramatically reduces both physical rack space and power consumption. Given the rising energy costs in our current economy, minimizing power usage is crucial, and optimizing rack space is also beneficial. The Pure Storage platform significantly reduces these costs and makes substantial progress towards your sustainability goals even when compared with any other all-flash system. Furthermore, the Pure Storage platform is over 10x more reliable than our competitors. When coupled with our AI-powered service management tool called Pure1, we will proactively identify problems so storage professionals like yourself spend less time managing storage and more time leveraging your data while improving as well your productivity and your efficiency. Pure1 simplifies the task of managing large fleets of storage arrays, resulting in improved labor efficiency. And the combined result is a substantial savings in total cost of ownership. That is very impressive and has been meaningful for our customers. Our consistent Purity operating environment and our Pure1 management system means that whether you're managing block, file or object, there is a single set of tools and a data storage platform that delivers this complete capability with one integrated and consistent platform. We alone offer a single consistent operating and management environment. We deliver a cloud operating model that virtualizes multi-cloud data storage. You no longer have to learn the management tools of multiple platforms, and you can consume and deliver that single consistent platform to your customers, your developers in multiple ways, including consuming it as a service. Lastly, our Evergreen subscription program is not just a product. It's a commitment to perpetual innovation without disruption. Evergreen creates a future-ready foundation for your business-critical solutions, ensuring that they never become obsolete. Evergreen incorporates an engineering philosophy that integrates nondisruptive upgrades and maintenance directly into the platform. Moreover, an Evergreen subscription ensures that your systems remain modern, both now and in the future.

Thanks, Charlie. Just love that focus on outcomes and the customer experience, which I'm also super proud of the fact that that's reflected in such a great NPS score. When you're changing the industry, you have to delight customers along the way. And it's pretty clear that that's been a great big focus of ours and something that I like to believe we've executed pretty well in. However, I'm going to transition to something, which will change the storage industry forever. Like it will. It will change the storage industry forever. And that is the retirement of disk. Disk storage has long been kind of the legacy solution that countless organizations clung to pretty much out of necessity. But the economics of disk storage have for years confined organizations to an outdated operational framework. It was the cheapest option for supporting high-capacity workloads, get that, such as data repositories, but it did burden organizations with cumbersome management. And cumbersome management is kind of the piece that can really change when we look at sort of more modern storage technologies. And so as every organization aspires to modernize and truly shed this management overhead by transitioning to all-flash storage, but up until now, the economics simply didn't align. Since 2019, up to 80% of primary storage workloads were handled by all-flash arrays, which just emphasizes the importance of high-performance storage solutions. At the same time, hard disk drives were largely relegated to secondary workloads where factors like capacity and cost took precedence over speed. Now despite this shift, HDDs still account for a massive 90% of the total stored enterprise data, kind of underscores their significant presence in the storage landscape. In the era of AI, data usage continues to skyrocket at an unprecedented rate with its appetite for data showing absolutely no signs of slowing down. However, amid the demand for even more capacity, crucial considerations of efficiency, space and sustainability are now coming to the forefront. Once the king of capacity, the limitations of HDD in these areas are now becoming glaringly apparent as it struggles to meet the escalating demands placed upon it. By 2028, practically no new HDDs will be in the enterprise data centers. That's pretty amazing when you think about it. However, SSDs, they're not the answer. Many of you may be asking why. Well, they were originally designed to mimic hard drives, simplifying the plug-and-play experience, if you will. While successful in achieving that, they have inherited the same issues as HDDs, which become compounded by a major disadvantage. SSDs utilized by various storage vendors are all purchased as off-the-shelf commodities from third-party manufacturers. So these generic SSDs themselves are then integrated into storage arrays resembling the same old legacy disk arrays. So not only are storage vendors relying on the slow innovation cycles of commodity SSD manufacturers, they also have to integrate yet another layer of management between their systems and the raw flash. So at Pure, we decided to do things differently. We built our own storage called DirectFlash. Owning the manufacturing process, we can innovate faster and enable all-flash arrays to communicate directly with the raw flash storage itself. So okay, got it. That's kind of the inside of a system like -- well, what does that mean for you? Well, improved density and efficiency, number one. Our DFMs deliver a storage density 2 to 3x better and consume from 39% to 54% fewer watts per terabyte than our closest SSD competitors today and a whopping 10x more efficient power consumption and up to 20x more reliability than disk. That all seems pretty good to me. Plus, we have the largest drive on the market today at 75 terabytes. And by the end of 2024, Pure Storage will be shipping 150-terabyte DFMs and 300-terabyte DFMs by 2026. They're more reliable by performing no garbage collection and causing no write amplification, DirectFlash modules outperform and outlast their commodity counterparts. Fewer writes mean less wear and thus longer drive life spans. They also improve over time. Because we perform media management tasks and software, we can improve this software over time with no disruption. No more waiting for the next forklift upgrade for system improvements. They're simpler and more reliable. Because we perform all these activities at the array level in software, our DirectFlash modules don't need complex controllers and large amounts of RAM to do all this work on their own. What this means for customers is systems that have more performance more consistently with more reliability and longevity than other all-flash or hybrid systems that are designed around SSDs. Replacing HDDs now, that's really where it's at. Anytime a storage vendor touts something earth-shatteringly new, eventually, it falls into your hands to make it work. But this time, it's different. You now have an easy button, if you will, to get you started on day 1, to take advantage of the massive innovations that Pure Storage DirectFlash provides to finally ditch the disk, kind of like that, ditch the disk, without the exhaustion of adopting new systems. With the all-new Pure//E family, you now have a complete set of products that can be instantly deployed to support your block, your file and your object repository data and replacing those old spinning disks. Simply choose the capacity you need, starting at 1 petabyte, and tap into the data services ecosystem of Pure Storage at the same acquisition cost of disk and a massive 40% reduction in TCO over competitive offerings. With the cost under $0.20 per gigabyte raw, there's no longer a need to accept the second best due to budget limitations. Best of all, it's also available as part of our Evergreen//One and Flex platforms. So you can tap into the power of storage as a service that grows as flexible as you do. I'm thrilled to introduce my friend, Prakash Darji, General Manager of the Digital Experience Group, who will showcase some of the most recent innovations available with the Pure platform. Prakash, you ready to captivate our audience and blow their minds?

All right. Thanks, Matt. So Matt talked about Evergreen, but let's dig in a little bit. If you think about your data problems today, your data sits wherever your applications sit, which happen to be everywhere. So that's akin to your data being everywhere, and you need to manage it regardless of where it's at. Very similar to IoT where you see Tesla cars on roads or you see Rokus in homes, you need to manage it centrally. So Storage-as-a-Service requires managing distributed storage across any environment. It's a distributed cloud. Now as you're managing, you need to manage the hardware life cycle. Your hardware needs to get better over time, more energy-efficient, more dense, more cost-efficient. Your security as you're managing the security across these endpoints. How do you have data resilience across this distributed cloud world? And how does your software get better over time as well and ensure you don't need a lot of people to do it? That's the modern Storage-as-a-Service operating environment we live in today. And to make that easy, I'm going to introduce a new capability. We're introducing Paid Power and Rack for Evergreen//One. Pure is going to stand behind our energy and cost efficiency by paying for the rack space, the rack units and the power we use in your data center. Why? Because we're running a service in this distributed cloud. And since we're using space and power in our data center, we're going to pay customers for what we use. So we're standing behind our energy advantage and our power advantage and our rack advantage around ensuring that we're motivated to offer things very efficiently in your data center. And what does this mean to you? It means you have a vendor who's willing to take responsibility by cutting you a check for what they use. And you can get it as a check or a service credit, and no other vendor in the market has this today. Now how does this build into our offering? Over the last 10 years, we've been delivering a 73x improvement in capacity and density and a 19x improvement in watts per terabyte and power reduction. So this is not new. Pure has been doing this nondisruptively with no data migrations over time. This is the foundation of what we call Hardware-as-a-Service. Your hardware gets better over time. So that Hardware-as-a-Service, we're going to continue doing for the next decade. We're going to continue making sure it's more energy-efficient and it's more dense. And Matt talked about the drive road map where we have 75 terabytes and 150 terabytes and 300-terabyte drives coming in a few years. How does a customer future-proof? Through Evergreen, we're going to ensure you're not left behind and you can participate in all of this innovation. And we've been delivering software releases, and we're going to continue delivering the software innovation. We're going to show you all of that software innovation in Pure1. Now 4 years ago, we introduced a way where you can get that innovation based on the consumption model. At that time, we called it Pure-as-a-Service. Today, it's Evergreen//One. And that means you can pay for what you use. And not only that, we introduced performance and capacity SLAs because we'll manage things for you. You don't need to worry about performance management or capacity management or what kind of hardware you need. Let us do it for you. Now ransomware. About 4 months ago, we introduced ransomware recovery SLA. So you can sleep easy and don't need to worry about how long it's going to take to recover from ransomware. We're giving you a guarantee, and we'll do the work. We also introduced an energy efficiency SLA. And now we're paying for power and rack. Now you might look at this and think, okay, we're throwing a lot at you here. We're throwing a lot of SLAs and a lot of guarantees and all of that. Well, let's keep going. We've introduced a concept where we will cover the upgrades. So we do upgrades, and customers could do those upgrades. But now we have policy-driven upgrades where we can modernize your software continuously. And on top of that, for our Evergreen//Forever customers, we're not leaving you behind. We have a power and rack efficiency guarantee, a No Data Migration Guarantee because over 10 years, we haven't required data migrations after you move to Pure. It's your last data migration you'll ever do. And we haven't broken that promise, and we're continuing to put that into the contract for the next decade. We also have a Zero Data Loss Guarantee. And we have service life cycle management where we show you all of this innovation you get and allow you to plan for the future. Now if you think about cars, you can get a Tesla, and the Tesla has smart driving capabilities. It updates all the time, but some people actually prefer to drive themselves. They're either afraid to turn on self-driving or they're control freaks and want to hold on to the steering wheel. Well, we give you an option. You can get Evergreen//One, which is self-driving. It's the most labor-efficient way where we do all the work for you. It's self-driving storage. But if you prefer to drive yourself, you can get Evergreen//Forever. Evergreen//Forever allows you to go ahead and manage your storage yourself, but you get the benefits of Hardware-as-a-Service and Software-as-a-Service. So you're consistently modernizing over time. Now as we move beyond Hardware-as-a-Service and Software-as-a-Service, let's talk about data resiliency. We're introducing a brand-new product called Pure Protect //DR-as-a-Service, which helps customers protect their VMware environments where they can fail over and fail back from Amazon. That's VMware to EC2 and back from your EC2 environment to VMware, fail over and fail back. And it converts the VMware to a native Amazon format where you can -- actually don't need your VMware into the target cloud. You could use the cloud as it was intended. So this is an additional layer of protection that customers could have for manmade disasters, natural disasters, attacks, et cetera, that provide you isolation from your primary data center. They use the public cloud. We're introducing this with AWS as our first partner, and you can expect us to onboard more in the future. So now let me turn this over to Matt Bradford, who's going to walk you through how simple and easy it is, the Pure simplicity brought to Disaster-Recovery-as-a-Service, which is generally a challenging complex environment. So Matt, over to you.

Thanks, Prakash. Here, I'm going to show you how you can go from zero to disaster recovery-ready over the course of an average lunch break. And yes, you absolutely heard that right. So what you do is you log in to Pure1 and grab this virtual appliance to deploy in your vSphere environment. And once that's out there, we're going to connect to it from within Pure1 and start configuring that appliance and also building out that disaster recovery site in AWS. So with the connection made to that virtual appliance, we're now going to start configuring it, starting with making the connection to vCenter so we can start discovering the virtual machines. And then it's just a matter of configuring that virtual appliance. Where do we want it to live? What network should it be on? How much storage should it have, right? Because this is going to become our on-premises cache essentially for all the data that we're shipping up to your AWS cloud. And this is also where we configure our DR network, right? Where do we want our virtual machines to live? All that gets configured here. And then of course, the next step is you configure your AWS account. How do we connect to it? You stand up that virtual private cloud, that disaster recovery site for you. And we need a couple of pieces of information here. First of all, what's the region? What's the availability zone that you want your disaster recovery site to live in? You've got a lot of options here globally. So if you're bound to regulations like GDPR or maybe you have requirements to be outside of a certain blast radius, you can set that up here. And what I love about this product is that you don't have to be an AWS expert to use it. We've even automated the creation of the access and secret keys here for you through a CloudFormation template that has all the proper role-based access controls set up for you. So with that, Pure Protect is actually standing up our disaster recovery site for us. It's building out the network, the firewall, the virtual private cloud, the storage, the S3 buckets. All of this is fully automated through Pure Protect. We've made this product purely simple. And so now we have our disaster recovery site. And the last little tiny step that we have to do is just to build out that network for the replication traffic. And you guessed it, we handle that for you, so you don't even have to worry about it. And that's how we've taken what would otherwise have been a major project with multiple teams and made it easy enough for one person to deploy. So the next step is going to be to protect our virtual machines. And we do that through policies, groups and plans. So let's build a new policy here. And this is where we configure the recovery point objective. I can send copies of my virtual machines to the cloud daily or every few hours. And then we can also configure how many copies of our virtual machines we want to persist in the public cloud because when you're in a disaster recovery situation, you want flexibility. Say, it was a ransomware attack, and you have to go back several days or maybe even further to find a clean copy of your data to recover. We have those options covered in Pure Protect. And so let's start adding some virtual machines to this awesome new policy we created, and we do that through groups. And so I'm going to select Ubuntu VM5 here, and we're going to assign it to that demo policy that we just created. Now as a part of the production or testing failovers, we are going to convert our vSphere virtual machines into EC2 instances as a part of that workflow. And there may be some instances where we need the recovery time objective to be lower than that. And so we offer the option to pre-convert those critical virtual machines. So that way, when you hit that big red button, the failover, those virtual machines are ready to go when you are. Hey, it's not just about recoverability but also flexibility. So before we proceed, let's add one more virtual machine to our group to just kind of make this demonstration a little bit more interesting. So now our demo group has 2 virtual machines, and we can proceed to the next step, which is to build out a plan. Now this production recovery plan, this is the big red button you hit when you need to fail over your production environment to your AWS. And so these other plans over here or in this case, this other plan, these are for testing. So let's create a new demo plan here. We're going to add our group to it. And then under advanced configuration, now this is a cost-saving measure, right? Pure Protect is all about cloud cost avoidance. So when you're doing regular disaster recovery testing or maybe even patch testing, another great use case for Pure Protect, you may not necessarily care about the performance of those virtual machines. You just want to make sure that the application is running. And so this is a great option. I can scale my virtual machines down by as much as 75% to save on costs from disaster recovery testing. Cha-ching, keep that money in your pocket. And the last thing I want to show you is the orchestration. Now this is an important part of disaster recovery. So we can bring up all of our virtual machines in this group at the same time or we can change the order. So here, I've got an application dependency where VM4 needs to boot up before #5, so we can change that very easily right here. And now I think we're ready to go. Let's do some disaster recovery testing. And regardless of whether you're doing a production failover or a test, you have the option to recover a specific copy from the past or you can recover using the latest copy that you have in Pure Protect. So we're going to recover the latest copy, and I can go in here and I can monitor the status of this job. And once my virtual machines are running in an isolated environment, I'm ready to start doing some testing without impacting production. And I think that's just what I'm going to do. Over to Prakash.

All right. Thanks, Matt, for showing how simple it is. But as you're taking a look at security and data resilience, it's one of those things that has, you get what you pay for, you get how much work you put in. Our products from the beginning have intrinsic data protection. It's built in. It's part of the platform. We've layered on these new SLAs and capabilities for a Zero Data Loss Guarantee as well as the ability to look into your backup environments and your storage protection environments to score how well protected you are. So now you can see how well protected my landscape is, and what do I need to do to improve it? Whether that's through your backup environments with Veeam and Commvault or whether through it's your storage environments. On top of that, you have our new Disaster Recovery-as-a-Service to add another layer of protection. And then finally, in the case of ransomware or malicious attacks, we can identify our last known good copies of data with our anomaly detection and give you a guaranteed SLA in how long it will take to recover. So this strategy provides you a layered approach to improve your storage, these IoT endpoints over time. So let me turn it over to Matt Bradford, and he's going to show you a little bit about data resiliency scoring and how you can use our data protection assessment to improve your storage protection. Over to you, Matt.

As Prakash said, one of the things we're really focused on in Pure1 is data resilience. So think of the data protection assessment as an adviser, looking across your entire fleet of Pure Storage to make sure you're taking full advantage of the great features that we provide to you, things like SafeMode, snapshots, replication. And so we start off by taking a look at the resiliency score. And this is a score of 0 to 5 based on how well you've adopted these technologies, so our basic protections like snapshots, SafeMode, replication and even our advanced features like active cluster, active DR or even offloading to FlashBlade or S3. And so based on how much of your virtual capacity is protected with these features, that's how we generate the score. And we'll also call out things like if you have plug-ins like Veeam or Commvault in place. Now these don't impact your score, but they do provide additional context in how you're protecting your data. And then down here, we can go into each of the individual arrays, too, and see how we've calculated the score for that array and how the score feeds into our average. Now on the right side of the screen, the assessments, this one's looking at the configuration of these features. So think of this as a heat map of where you should focus your attention, on where your greatest risks are. So anything that's sort of in a cautionary state, if we look at this, caution is going to be SafeMode is enabled, but there's no snapshots that it's protecting. And conversely, if you have snapshots with no SafeMode, hey, you're in an optimizable state. You're taking your first steps to protecting that data, but what we really want to do is we want to get you into a good or advanced state. So that way, you're using these technologies correctly to protect your data. But we also take things a step further and provide guidance on how to configure each of these arrays and how to get them into a good state. It's really like having a Pure Storage expert right there. So in this case, this particular array here, I don't have SafeMode enabled. So first step is to go in, enable SafeMode on that array. And then the next step is to increase our eradication delay, increasing the amount of time that those snapshots are protected from manual deletion. And that's called out in this recommendation. And then also for local snapshots. Hey, a lot of them meet guidance. But the rest of them, we should take a look at, make sure we're taking at least one snapshot a day and saving them for 7 days. It's just another great way that Pure1 will help you to save time and save your data. Back to you, Prakash.

All right. Thanks, Matt. Now let's talk about labor because we talked about your hardware getting better over time and your software getting better over time. But how many people do you need to do it? Well, we're introducing this policy-driven upgrade, so we can push the software updates to you all the time. So your software gets better, you can choose whether you want critical vulnerability patching or whether you want proactive software releases. And last I checked, our FlashArray team is shipping about monthly, so you can get new features every month. And unlike my iPhone, it doesn't require me to restart as I'm getting an update. So you actually can do this continuously based on our Evergreen architecture. Now everyone is launching AI products. So I feel like this presentation would be amiss if I didn't talk about AI. Unfortunately, I'm not going to launch anything new in AI here. We've been using AI techniques for quite some time, but what I will show you here is we've added this little light bulb or this human. And what that tells you is it's providing transparency in AI around what is a human-generated recommendation versus a machine-generated recommendation. Because we're here to reduce your labor. We want to make things easier for you. But it'd be nice to know, in this AI-driven world, what's a machine-generated recommendation versus a human-generated recommendation. So we've moved forward in providing you transparency in AI. So let me turn it over to Matt Bradford, and he's going to show you all these capabilities in Pure1 that allow you to characterize your labor cost from software life cycle management to capabilities around service life cycle to asset life cycle to all the different things that can help you reduce the amount of energy you need to put into managing your storage. Over to you, Matt.

The Asset Management page is a wealth of information of all of your subscription assets, including the subscriptions themselves. Across the bottom is a table of all the combined information available to you in one place. So information on the subscription of that asset, key dates such as renewal dates and when it went into service as well as information like model number, serial number, all of this is available within this table. Now you can add even more information here, such as energy usage, Purity version and also capacity information if you so desire. And all of this information is exportable, too, so I could bring this into a spreadsheet that I could use for something like project management or maybe even just reporting. And there's APIs available so you can pull this information directly into your own asset management systems and really cut down on the amount of time that your staff spends having to track all these assets. Plus, all of your asset management systems are going to be constantly up-to-date. You can also add your own information in the form of tags. So for example, if you wanted to track what business group an asset belongs to, you can assign a tag to that asset for tracking. So this is a great view for everybody, from storage administrators to finance and asset management teams, because all of your information is available in one place. You don't have to make trips to the data center. Let Pure1 handle that for you. And we can also track things over time with the genealogy views. So for example, the subscription genealogy will tell you when a subscription started, when it is due, up for renewals and also if there were any updates made to the subscription, so things like expansions, for example. And having all of this information readily available on a single time line view cuts down on the amount of time you're going to spend sifting through old e-mails to get this information. And the appliance genealogy view is going to give you a time line of each appliance, whether it's FlashArray or FlashBlade that's covered under a subscription. So you'll see everything from when the appliance went into service and even when there were hardware upgrades and Purity updates. And also if a subscription asset is going to be up for renewal, you're going to see that down here. And so think of this in terms of project management, for example, when you've got an upgrade project where you need to roll through all of your arrays and do upgrades, you can see, hey, how is this project progressing? Or also start to define which arrays need to be upgraded, which ones haven't been touched in a while to define the scope of your upgrade projects. You could also use this to keep tabs on your staff and see where they're spending time, if they're doing hardware or software upgrades. And Pure1 can even help you save time with these activities. So for example, our nondisruptive software upgrades can be performed at any time using a wizard within Pure1. And knowing what version of Purity to upgrade to is even more simple with policy-driven recommendations. So depending upon which policy I apply to each of my arrays, Pure1 is going to recommend a version of Purity for me to upgrade to. And so the policy spectrum ranges from essential to proactive, which is going to be our latest enterprise-ready release of Purity. If you want all of the latest features on your arrays as quickly as possible, select this policy. However, if you really want to be on the tailing end and only upgrade if your version of Purity is going to go end of support or if there's a security upgrade, then you would select the essential policy. However, most customers are going to be in the balanced range. These are going to be the enterprise-ready Long Life Releases of Purity. So you're still up-to-date, but you're also performing less upgrades than, say, if you were proactive. And another time and staff saver is through Storage-as-a-Service with Evergreen//One where we provide you with the hardware and manage it all for you, and all you need to do is just load it up with your precious data. And our management is backed by SLAs, which we provide transparency into within Pure1. So here we are in the Evergreen//One subscription page. Of course, I have my subscription information available. But then down here are the SLA indicators, so I can see how well Pure is delivering on these services to me. And if I scroll down, I can select any of my subscriptions and see how it's performing from a performance standpoint and also from an energy efficiency SLA if it applies to the subscription. But then also, I can go and view everything over time. So if I go into the Performance tab, I can see how well we're delivering on that bandwidth SLA. Plus, I have information like latency as well as the load that we're putting on to the array. So that way, I can tell if bandwidth is low. Is it because the array just isn't performing or is it because I'm not asking enough out of it? And so that's what we're providing with this additional information. So it's all about transparency and how we're helping your staff to do more with less. And this is really just like our report card on how well Pure is performing. And speaking of transparency, Pure Storage has some of the most energy-efficient storage on the planet. And we can prove that to you through the Sustainability Assessment and showing you how we are helping you to save energy and save money. But we also provide a comparison of how your organization stands up to other organizations of similar size as far as being the most energy-efficient. And with the actionable recommendations through the Sustainability Assessment, we can drive that efficiency even further and bring home the title of being the most energy-efficient organization. And that's just a few of the ways that Pure1 can be an asset to your team and help augment your staff, but there's one more way that I want to show you, and that's through the recommendations. Because Pure1 is keeping an ever vigilant eye on all of your storage hardware, it can make recommendations when you're about to run out of capacity or if you need to perform hardware upgrades. And what's really cool is that these can both be generated by AI, and they can also be human-generated. So this light bulb icon shows me, this is an AI-generated recommendation. And if I look at this recommendation over here, I can see that this was generated by my account team. So based on my conversations with the account team, they can make recommendations directly within Pure1 that I can see, and I can go ahead and modify as I see fit. Now back to you, Prakash.

All right. Thanks, Matt. So just to recap, Charlie talked about outcomes where we deliver 2 to 5x less power and space. Well, we're backing it up with a paid power and rack guarantee. Two, we've always claimed 5 to 10x less labor to operate. And we're providing you SLAs in a way of looking at how much work you put into managing storage. Three, our Evergreen since the beginning ensures your products are never obsolete, and we're backing it with a No Data Migration Guarantee. And four, in a world where there's natural disasters, manmade disasters, climate change and all sorts of attacks, we're providing you a way of having both built-in intrinsic data resilience and the ability to enhance your data resilience to be prepared for anything. With Pure Protect //DR-as-a-Service, it provides an additional layer of protection in your landscape for disaster recovery. Since the beginning, Pure's always focused on ensuring that our storage gets better over time. And now we're taking it to the next level because regardless of where that storage sits, we can ensure your hardware is better, your software is better, your security improves, and you need less people to do it. Because frankly, that's all we want in storage: self-driving storage, you're prepared for the future and something that gets better over time. Thank you. Back to you, Matt.

Oh, man. Thank you, Prakash and Charlie, for sharing just a glimpse of the incredible innovations we're bringing to our customers at Pure Storage and enabling them to leap forward rapidly. These new updates simply accelerate your ability to make real impacts on day 1. Imagine reducing your power consumption by 5 times, a promise we are so confident about that we'll cover your power and rack costs. Who else in the industry is making a commitment like that? We are revolutionizing the operational cost of storage through AI-driven automation, massively cutting down expenses. With Pure, you stay always up-to-date without any downtime, disruption or impact on your data. And we ensure your data is safe and secure from attacks and disasters, providing an extremely rapid response if it becomes unavailable. Minimizing business impact during times of distress is critical, and we nailed it. Contact Pure to learn how you can make your data storage future-ready for the next decade.