Everpure Stock Jumps After Company Raises Long-Term Revenue Forecast

Everpure Inc. (NYSE:P) shares jumped 6.9% in after-hours trading Wednesday after the data management company issued a bullish long-term forecast, significantly raising its revenue and profitability outlook for fiscal 2028 at its Financial Analyst Meeting.

Upgraded Financial Outlook

Everpure provided a preliminary fiscal 2028 revenue outlook of $7.0 billion to $7.3 billion, which would represent a year-over-year growth rate of 39% to 45%. The company also projected non-GAAP operating income for fiscal 2028 to fall between $1.7 billion and $1.9 billion, an increase of 80% to 100% from the prior year's forecast.

The announcement comes as Everpure reaffirmed its guidance for the current fiscal year 2027. The company continues to target revenue of $5.03 billion to $5.07 billion and non-GAAP operating income of $940 million to $960 million.

Strategic Growth Drivers

The optimistic forecast is underpinned by a strategy focused on four key growth areas. In addition to its core business in FlashBlade and Flash Array products, the company is targeting expansion in three new vectors:

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• Modern Data Software: Solutions centered on Everpure Data Intelligence.
• Scale AI: Featuring FlashBlade//EXA solutions aimed at AI-native providers.
• Hyperscale Solutions: Leveraging DirectFlash technology for large-scale cloud providers.

According to the company, these three new growth areas are expected to represent approximately 20% of total revenue by fiscal 2030. Charlie Giancarlo, Chairman and Chief Executive Officer, said the company is "expanding its horizons to managing data in the enterprise and solutions for hyperscalers."

Financial Health and Market Impact

The strong guidance signals a new phase for the company's financial performance. Chief Financial Officer Tarek Robbiati said Everpure’s "financial profile is resetting to higher levels of growth and profitability, with sustained performance above Rule of 40," a key metric for evaluating the health of software and tech companies.

Everpure also highlighted its commitment to innovation, noting it has dedicated an average of 19% of annual revenue to R&D on a non-GAAP basis over the past five years. The company's capital management framework focuses on funding organic growth, strategic acquisitions, and share buybacks.