Everpure (formerly Pure Storage) saw revenues rise 35% year over year (YoY) in the first quarter of fiscal 2027, as the data management firm rode the memory shortage.

The firm saw total revenues of $1.1 billion, with product revenues up 55% YoY to $577 million. Also on the rise were subscription services, which accrued revenues of $476 million, a 17% YoY rise.

Everpure admitted earlier this year that it had significantly raised prices amid the ongoing memory shortage, with average costs rising by around 70% through the first part of the year.

CEO Charles Giancarlo told investors that “much of the recent strength in the market has been kindled by the current supply chain crisis," and warned that the memory shortage has “entirely eclipsed” last year’s tariff crisis, with the rapid changes in component costs making it “challenging to predict with any degree of certainty.”

Giancarlo said Everpure has the confidence to navigate the situation, citing “our architectural advantages, strong engineering and supply chain capabilities, and our excellent supplier relationships.”

Giancarlo also claimed that Everpure has been able to manage its component supplies to hold off price increases “until far later and far less than competitive price raises.”

“We are choosing to operate at the lower end of our product gross margin range to help our customers while component costs escalate,” Giancarlo said. “We expect product gross margins will begin to recover in the second half of our year, but the recovery is likely to be gradual as costs continue to rise.”

Beyond navigating component conundrums, the Everpure chief contended that the company was also seeing increased wins against competitors, adding: “Our market share gains are accelerating as customers increasingly adopt Everpure as their preferred vendor for data storage and management.”

Giancarlo revealed that large deals – those above $5 million – were up in high double digits compared to the year prior, while new customer logos were up 20% year on year.

“We are now beginning to displace competitive AI storage products in the enterprise and neocloud markets as customers transition to our FlashBlade family,” Giancarlo said.

The earnings also marked the closing of Everpure's acquisition of security firm 1Touch, a focal part of its recent rebrand. As Everpure, the reinvention sees it position itself beyond pure play storage, instead pushing into data management.

Giancarlo told investors that the addition of 1Touch will help customers “better manage all of their data, whether on Pure products or not, both [on-premises] and in the cloud.”