EarningsQ2 2027 Earnings Report
MX:P Q2 2027 EPS Results
Actual EPS$12.09
Consensus EPS$10.01
Beat/MissBeat by +$2.07
One Year Ago EPS$7.42
MX:P Q2 2027 Revenue Results
Actual Revenue$20.48B
Expected Revenue$18.95B
Beat/MissBeat by +$1.52B
YoY Revenue Growth+37.73%
Earnings Announcement Details
QuarterQ2 2027
Date08/26/2026
TimeAfter Close
Conference CallWednesday, August 26, 2026
MX:P Upcoming Earnings
Everpure's next earnings date is estimated for December 2, 2026, based on past reporting schedules.
Q2 2027 Earnings Call Audio
MX:P Q2 2027 Earnings Call
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Q2 2027 Earnings Slide Deck
Q2 2027 Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed strong, broad-based growth across revenue, product sales, subscription metrics (ARR, RPO), and large deals, coupled with meaningful strategic validation via a second top-5 hyperscaler win and a >$1B Evergreen//One run rate. Short-term challenges include negative operating and free cash flow driven by strategic component purchases, supply-chain cost inflation, and reduced unit volumes due to higher pricing. Management presented a clear plan to accept lower near-term product margins to accelerate market share and expects cash flow normalization and hyperscaler ramps in future periods. On balance, the positive operational and demand indicators, raised guidance, and sizable recurring contract metrics outweigh the near-term financial headwinds.Company Guidance
Strong Revenue and Product Growth
Total revenue grew 38% year-over-year; product revenue increased 54% YoY to $687 million. Company raised full-year revenue guidance to $5.030B–$5.070B (midpoint ~38% YoY growth).
Operating Profit and Margin Expansion
Operating profit surged 77% YoY to $230 million, with operating margin of 19.4%. Q3 operating profit guide $265M–$275M; full-year operating profit guidance $940M–$960M (midpoint ~50% YoY growth).
Rapid Storage-as-a-Service Momentum
Evergreen//One TCV accelerated to an annualized run rate above $1 billion. Storage-as-a-Service TCV increased 121% YoY to $277 million in Q2; subscription services revenue up 20% YoY to $499 million and represented 42% of total revenue.
Recurring Revenue and RPO Strength
ARR rose 20% YoY to more than $2 billion. Remaining performance obligations (RPO) increased 44% YoY to over $4 billion, signaling strong multi-year contract bookings.
Large Deal and Enterprise Momentum
Deals above $5M grew 59% YoY and deals above $20M grew 385% YoY. Sales growth described as broad-based across geographies, product categories and segments.
Hyperscaler Validation and Pipeline
Secured a design win and supply agreement with a second top-5 hyperscaler; company expects meaningful hyperscaler ramp in FY28 and orders extending into calendar 2028 (tens of exabytes). Hyperscaler product margins expected at 75%–85%.
Product Wins and New Offerings
FlashBlade//S chosen by Samsung Electronics and a major global bank; FlashBlade//EXA and Data Stream (GA) saw first sales. 2,000 of 15,000 customers enabled with enterprise data cloud capabilities.
Profitability, Margins and Analyst Recognition
Total gross margin of 69.9%; product gross margin 66.2% (in long-term 65%–70% range, up 70 bps sequential). Gartner positioned Everpure highest in execution and furthest in vision in 2026 Magic Quadrant.
Balance Sheet and Shareholder Actions
Liquidity remained robust with over $1 billion in cash and investments. Repurchased ~932,000 shares (~$69M) in Q2 and have ~$176M remaining under a $400M repurchase authorization.
MX:P Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed