Technology

Pure Storage Announces Third Quarter Fiscal 2025 Financial Results

Published

1 year ago

December 3, 2024

Awarded industry-first design win from a top-four hyperscaler

SANTA CLARA, Calif., Dec. 3, 2024 /PRNewswire/ — Today Pure Storage (NYSE: PSTG), the IT pioneer that delivers the world’s most advanced data storage technologies and services, announced financial results for its third quarter fiscal year 2025 ended November 3, 2024.

“Pure Storage has achieved another industry first in our journey of data storage innovation with a transformational design win for our DirectFlash technology in a top-four hyperscaler,” said Pure Storage Chairman and CEO Charles Giancarlo. “This win is the vanguard for Pure Flash technology to become the standard for all hyperscaler online storage, providing unparalleled performance and scalability while also reducing operating costs and power consumption.”

Third Quarter Financial Highlights

Revenue $831.1 million, an increase of 9% year-over-yearSubscription services revenue $376.4 million, up 22% year-over-yearSubscription annual recurring revenue (ARR) $1.6 billion, up 22% year-over-yearRemaining performance obligations (RPO) $2.4 billion, up 16% year-over-yearGAAP gross margin 70.1%; non-GAAP gross margin 71.9%GAAP operating income $59.7 million; non-GAAP operating income $167.3 millionGAAP operating margin 7.2%; non-GAAP operating margin 20.1%Q3 operating cash flow $97.0 million; free cash flow $35.2 millionTotal cash, cash equivalents, and marketable securities $1.6 billionReturned approximately $182 million in the third quarter to stockholders through share repurchases of 3.6 million shares

“Our third quarter results exceeded our expectations on revenue and operating income, demonstrating the sustaining strength of our business models,” said Kevan Krysler, Pure Storage CFO. “We remain focused on driving both near-term results and long-term value creation through disciplined investments and innovation that position Pure as the leader in transforming the data storage landscape.”

Third Quarter Company Highlights

Leading the Hyperscale Opportunity: With its industry-first design win with a top-four hyperscaler, Pure Storage is extending its DirectFlash® technology into massive scale environments today dominated by hard disks. The unmatched capabilities of Pure’s DirectFlash® technology deliver new levels of innovation, performance, and scalability to an industry with demanding requirements, enabling hyperscalers to fully modernize their infrastructure, significantly improve operational efficiency, and dramatically free up scarce electrical power.

Pure Storage also deepened its collaboration with Kioxia, a global leader of NAND Flash technology, to develop cutting-edge technology and manufacturing capacity to address the growing need for high-performance, scalable storage infrastructure for tomorrow’s hyperscale environments.

Advancing Enterprise AI: Pure Storage expanded its ability to serve the world’s largest AI training environments with recent certification of FlashBlade//S500 with NVIDIA DGX SuperPOD, which optimizes performance, power, and space efficiency. Pure also entered into a strategic partnership with CoreWeave to better serve AI customers by making Pure Storage available as a standard option within the CoreWeave dedicated cloud environment. With its introduction of the new Pure Storage GenAI Pod, Pure Storage is providing a set of full-stack solutions which reduce the time, cost, and expertise required to deploy generative AI projects.

Delivering Platform Innovation: With the Pure Storage platform, Pure is driving the biggest shift in enterprise storage since Flash. Pure Storage will be delivering v2.0 of Pure Fusion™ in its fourth quarter, which will enable customers to create their own enterprise data cloud, opening their data storage environment like the hyperscalers operate theirs. During the quarter Pure Storage unveiled solutions enabling seamless VMware migrations to Microsoft Azure, delivering enterprise-scale flexibility. And the new Pure Storage FlashArray™ with AWS Outposts brings together Amazon Web Services and Pure’s enterprise-grade storage on AWS Outposts, giving customers the flexibility to run cloud services on an enterprise-grade storage platform within their own data centers.

Industry Recognition and Accolades

Leader for Fifth Consecutive Year in the 2024 Gartner ® Magic Quadrant ™ for Primary Storage Platforms Leader for Fourth Consecutive Year in the 2024 Gartner ® Magic Quadrant ™ for File and Object Storage Platforms Forbes Most Trusted Companies in America 2025 (Ranked #144)Fortune Best Places to Work in Technology 2024 (Ranked #14)

Fourth Quarter and FY25 Guidance

Q4FY25

Revenue

$867M

Revenue YoY Growth Rate

9.7 %

Non-GAAP Operating Income

$135M

Non-GAAP Operating Margin

15.6 %

FY25

Revenue

$3.15B

Revenue YoY Growth Rate

11.5 %

Non-GAAP Operating Income

$540M

Non-GAAP Operating Margin

17 %

These statements are forward-looking and actual results may differ materially. Refer to the Forward Looking Statements section below for information on the factors that could cause our actual results to differ materially from these statements. Pure has not reconciled its guidance for non-GAAP operating income and non-GAAP operating margin to their most directly comparable GAAP measures because certain items that impact these measures are not within Pure’s control and/or cannot be reasonably predicted. Accordingly, reconciliations of these non-GAAP financial measures guidance to the corresponding GAAP measures are not available without unreasonable effort.

Conference Call Information

Pure will host a teleconference to discuss the third quarter fiscal 2025 results at 2:00 pm PT today, December 3, 2024. A live audio broadcast of the conference call will be available on the Pure Storage Investor Relations website. Pure will also post its earnings presentation and prepared remarks to this website concurrent with this release.

A replay will be available following the call on the Pure Storage Investor Relations website or for two weeks at 1-800-770-2030 (or 1-647-362-9199 for international callers) with passcode 5667482.

Additionally, Pure is scheduled to participate at the following investor conferences:

Wells Fargo 8th Annual TMT Summit
Date: Wednesday, December 4, 2024
Time: 1:30 p.m. PT / 4:30 p.m. ET
Chief Technology Officer Rob Lee

27th Annual Needham Growth Conference
Date: Thursday, January 16, 2025
Time: 9:45 a.m. PT / 12:45 p.m. ET
Founder & Chief Visionary Officer John “Coz” Colgrove
Chief Financial Officer Kevan Krysler

The presentations will be webcast live and archived on Pure’s Investor Relations website at investor.purestorage.com.

—-

About Pure Storage

Pure Storage (NYSE: PSTG) delivers the industry’s most advanced data storage platform to store, manage, and protect the world’s data at any scale. With Pure Storage, organizations have ultimate simplicity and flexibility, saving time, money, and energy. From AI to archive, Pure Storage delivers a cloud experience with one unified Storage as-a-Service platform across on premises, cloud, and hosted environments. Our platform is built on our Evergreen architecture that evolves with your business – always getting newer and better with zero planned downtime, guaranteed. Our customers are actively increasing their capacity and processing power while significantly reducing their carbon and energy footprint. It’s easy to fall in love with Pure Storage, as evidenced by the highest Net Promoter Score in the industry. For more information, visit www.purestorage.com.

Connect with Pure

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Pure Storage, the Pure P Logo, Portworx, and the marks on the Pure Storage Trademark List are trademarks or registered trademarks of Pure Storage Inc. in the U.S. and/or other countries. The Trademark List can be found at purestorage.com/trademarks. Other names may be trademarks of their respective owners.

Forward Looking Statements

This press release contains forward-looking statements regarding our products, business and operations, including but not limited to our views relating to our opportunity with hyperscale and AI environments, our ability to meet hyperscalers’ performance and price requirements, our ability to meet the needs of hyperscalers for the entire spectrum of their online storage use cases, the timing and magnitude of large orders, including sales to hyperscalers, the timing and amount of revenue from hyperscaler licensing and support services, future period financial and business results, demand for our products and subscription services, including Evergreen//One, the relative sales mix between our subscription and consumption offerings and traditional capital expenditure sales, our technology and product strategy, specifically customer priorities around sustainability, the environmental and energy saving benefits to our customers of using our products, our ability to perform during current macro conditions and expand market share, our sustainability goals and benefits, the impact of inflation, economic or supply chain disruptions, our expectations regarding our product and technology differentiation, new customer acquisition, and other statements regarding our products, business, operations and results. Forward-looking statements are subject to known and unknown risks and uncertainties and are based on potentially inaccurate assumptions that could cause actual results to differ materially from those expected or implied by the forward-looking statements.

Actual results may differ materially from the results predicted, and reported results should not be considered as an indication of future performance. The potential risks and uncertainties that could cause actual results to differ from the results predicted include, among others, those risks and uncertainties included under the caption “Risk Factors” and elsewhere in our filings and reports with the U.S. Securities and Exchange Commission, which are available on our Investor Relations website at investor.purestorage.com and on the SEC website at www.sec.gov. Additional information is also set forth in our Annual Report on Form 10-K for the year ended February 4, 2024. All information provided in this release and in the attachments is as of December 3, 2024, and Pure undertakes no duty to update this information unless required by law.

Key Performance Metric

Subscription ARR is a key business metric that refers to total annualized contract value of all active subscription agreements on the last day of the quarter, plus on-demand revenue for the quarter multiplied by four.

Non-GAAP Financial Measures

To supplement our unaudited condensed consolidated financial statements, which are prepared and presented in accordance with GAAP, Pure uses the following non-GAAP financial measures: non-GAAP gross profit, non-GAAP gross margin, non-GAAP operating income (loss), non-GAAP operating margin, non-GAAP net income (loss), non-GAAP net income (loss) per share, and free cash flow.

We use these non-GAAP financial measures for financial and operational decision-making and as a means to evaluate period-to-period comparisons. Our management believes that these non-GAAP financial measures provide meaningful supplemental information regarding our performance and liquidity by excluding certain expenses such as stock-based compensation expense, payments to former shareholders of acquired companies, payroll tax expense related to stock-based activities, amortization of debt issuance costs related to debt, and amortization of intangible assets acquired from acquisitions that may not be indicative of our ongoing core business operating results. Pure believes that both management and investors benefit from referring to these non-GAAP financial measures in assessing our performance and when analyzing historical performance and liquidity and planning, forecasting, and analyzing future periods. The presentation of these non-GAAP financial measures is not meant to be considered in isolation or as a substitute for our financial results prepared in accordance with GAAP, and our non-GAAP measures may be different from non-GAAP measures used by other companies.

For a reconciliation of these non-GAAP financial measures to GAAP measures, please see the tables captioned “Reconciliations of non-GAAP results of operations to the nearest comparable GAAP measures” and “Reconciliation from net cash provided by operating activities to free cash flow,” included at the end of this release.

PURE STORAGE, INC.

Condensed Consolidated Balance Sheets

(in thousands, unaudited)

At the End of

Third Quarter of
Fiscal 2025

Fiscal 2024

Assets

Current assets:

Cash and cash equivalents

$ 894,569

$ 702,536

Marketable securities

753,960

828,557

Accounts receivable, net of allowance of $956 and $1,060

578,224

662,179

Inventory

41,571

42,663

Deferred commissions, current

86,839

88,712

Prepaid expenses and other current assets

204,485

173,407

Total current assets

2,559,648

2,498,054

Property and equipment, net

431,353

352,604

Operating lease right-of-use-assets

157,574

129,942

Deferred commissions, non-current

210,671

215,620

Intangible assets, net

23,039

33,012

Goodwill

361,427

Restricted cash

11,249

9,595

Other assets, non-current

99,504

55,506

Total assets

$ 3,854,465

$ 3,655,760

Liabilities and Stockholders’ Equity

Current liabilities:

Accounts payable

$ 102,021

$ 82,757

Accrued compensation and benefits

155,652

250,257

Accrued expenses and other liabilities

141,846

135,755

Operating lease liabilities, current

47,941

44,668

Deferred revenue, current

897,174

852,247

Debt, current

100,000

—

Total current liabilities

1,444,634

1,365,684

Long-term debt

—

100,000

Operating lease liabilities, non-current

146,390

123,201

Deferred revenue, non-current

784,282

742,275

Other liabilities, non-current

68,573

54,506

Total liabilities

2,443,879

2,385,666

Stockholders’ equity:

Common stock and additional paid-in capital

2,821,010

2,749,627

Accumulated other comprehensive income (loss)

1,023

(3,782)

Accumulated deficit

(1,411,447)

(1,475,751)

Total stockholders’ equity

1,410,586

1,270,094

Total liabilities and stockholders’ equity

$ 3,854,465

$ 3,655,760

PURE STORAGE, INC.

Condensed Consolidated Statements of Operations

(in thousands, except per share data, unaudited)

Third Quarter of Fiscal

First Three Quarters of Fiscal

2025

2024

2025

2024

Revenue:

Product

$ 454,735

$ 453,277

$ 1,204,714

$ 1,161,978

Subscription services

376,337

309,561

1,083,608

878,838

Total revenue

831,072

762,838

2,288,322

2,040,816

Cost of revenue:

Product (1)

154,970

126,770

385,446

343,588

Subscription services (1)

93,180

83,321

284,168

244,541

Total cost of revenue

248,150

210,091

669,614

588,129

Gross profit

582,922

552,747

1,618,708

1,452,687

Operating expenses:

Research and development (1)

200,086

182,100

589,396

549,923

Sales and marketing (1)

255,830

231,707

757,069

696,885

General and administrative (1)

67,319

64,729

213,551

192,944

Restructuring and impairment (2)

—

15,901

16,766

Total operating expenses

523,235

478,536

1,575,917

1,456,518

Income (loss) from operations

59,687

74,211

42,791

(3,831)

Other income (expense), net

17,156

5,184

50,684

23,619

Income before provision for income taxes

76,843

79,395

93,475

19,788

Income tax provision

13,204

9,006

29,171

23,915

Net income (loss)

$ 63,639

$ 70,389

$ 64,304

$ (4,127)

Net income (loss) per share attributable to common stockholders, basic

$ 0.19

$ 0.22

$ 0.20

$ (0.01)

Net income (loss) per share attributable to common stockholders, diluted

$ 0.19

$ 0.21

$ 0.19

$ (0.01)

Weighted-average shares used in computing net income (loss) per share
attributable to common stockholders, basic

327,675

314,153

325,530

309,842

Weighted-average shares used in computing net income (loss) per share
attributable to common stockholders, diluted

340,564

330,255

341,490

309,842

(1) Includes stock-based compensation expense as follows:

Cost of revenue — product

$ 3,216

$ 1,443

$ 9,443

$ 7,056

Cost of revenue — subscription services

7,800

6,849

24,632

19,347

Research and development

49,227

43,908

150,390

126,225

Sales and marketing

24,393

19,209

72,330

55,883

General and administrative

16,436

16,557

62,161

46,732

Total stock-based compensation expense

$ 101,072

$ 87,966

$ 318,956

$ 255,243

(2) Includes expenses for severance and termination benefits related to workforce realignment and lease impairment and abandonment charges associated with cease-use of
our former corporate headquarters.

PURE STORAGE, INC.

Condensed Consolidated Statements of Cash Flows

(in thousands, unaudited)

Third Quarter of Fiscal

First Three Quarters of Fiscal

2025

2024

2025

2024

Cash flows from operating activities

Net income (loss)

$ 63,639

$ 70,389

$ 64,304

$ (4,127)

Adjustments to reconcile net income (loss) to net cash provided by operating activities:

Depreciation and amortization

29,272

31,647

99,099

91,560

Stock-based compensation expense

101,072

87,966

318,956

255,243

Noncash portion of lease impairment and abandonment

—

3,270

16,766

Other

2,381

(2,815)

5,107

(5,844)

Changes in operating assets and liabilities:

Accounts receivable, net

(161,723)

(111,190)

83,998

(23,959)

Inventory

5,071

818

(1,590)

5,278

Deferred commissions

669

(9,501)

6,822

(19,061)

Prepaid expenses and other assets

(40,008)

20,044

(67,014)

19,686

Operating lease right-of-use assets

9,383

7,634

25,911

27,269

Accounts payable

33,755

7,533

20,597

33,844

Accrued compensation and other liabilities

7,781

4,767

(70,951)

(52,757)

Operating lease liabilities

(12,096)

(8,324)

(30,353)

(21,457)

Deferred revenue

57,797

59,464

86,934

110,856

Net cash provided by operating activities

96,993

158,432

545,090

433,297

Cash flows from investing activities

Purchases of property and equipment (1)

(61,788)

(45,062)

(170,641)

(151,591)

Purchases of marketable securities and other

(43,632)

(105,108)

(314,083)

(351,725)

Sales of marketable securities

12,817

3,747

61,241

52,495

Maturities of marketable securities

131,994

109,196

329,978

495,899

Net cash provided by (used in) investing activities

39,391

(37,227)

(93,505)

45,078

Cash flows from financing activities

Proceeds from exercise of stock options

3,426

3,056

21,194

32,904

Proceeds from issuance of common stock under employee stock purchase plan

26,408

23,870

51,736

45,089

Proceeds from borrowings

—

6,890

—

106,890

Principal payments on borrowings and finance lease obligations

(1,786)

(7,515)

(5,721)

(584,582)

Tax withholding on vesting of equity awards

(54,905)

(4,755)

(141,591)

(16,582)

Repurchases of common stock

(181,999)

(22,460)

(181,999)

(114,341)

Net cash used in financing activities

(208,856)

(914)

(256,381)

(530,622)

Net increase (decrease) in cash, cash equivalents and restricted cash

(72,472)

120,291

195,204

(52,247)

Cash, cash equivalents and restricted cash, beginning of period

979,807

418,860

712,131

591,398

Cash, cash equivalents and restricted cash, end of period

$ 907,335

$ 539,151

$ 907,335

$ 539,151

(1) Includes capitalized internal-use software costs of $6.0 million and $5.1 million for the third quarter of fiscal 2025 and 2024 and $15.8 million and $15.7 million for the first three quarters of fiscal 2025 and 2024.

Reconciliations of non-GAAP results of operations to the nearest comparable GAAP measures

The following table presents non-GAAP gross margins by revenue source before certain items (in thousands except percentages, unaudited):

Third Quarter of Fiscal 2025

Third Quarter of Fiscal 2024

GAAP

results

GAAP

gross

margin (a)

Adjustment

Non-

GAAP

results

Non-

GAAP

gross

margin (b)

GAAP

results

GAAP

gross

margin (a)

Adjustment

Non-

GAAP

results

Non-

GAAP

gross

margin (b)

$ 3,216

(c)

$ 1,443

(c)

103

(d)

3,306

(e)

3,306

(e)

Gross
profit —
product

$ 299,765

65.9 %

$ 6,625

$ 306,390

67.4 %

$ 326,507

72.0 %

$ 4,824

$ 331,331

73.1 %

$ 7,800

(c)

$ 6,849

(c)

368

(d)

329

(d)

Gross
profit —
subscription
services

$ 283,157

75.2 %

$ 8,168

$ 291,325

77.4 %

$ 226,240

73.1 %

$ 7,178

$ 233,418

75.4 %

$ 11,016

(c)

$ 8,292

(c)

471

(d)

404

(d)

3,306

(e)

3,306

(e)

Total gross profit

$ 582,922

70.1 %

$ 14,793

$ 597,715

71.9 %

$ 552,747

72.5 %

$ 12,002

$ 564,749

74.0 %

(a) GAAP gross margin is defined as GAAP gross profit divided by revenue.

(b) Non-GAAP gross margin is defined as non-GAAP gross profit divided by revenue.

(d) To eliminate payroll tax expense related to stock-based activities.

(e) To eliminate amortization expense of acquired intangible assets.

The following table presents certain non-GAAP consolidated results before certain items (in thousands, except per share amounts and percentages, unaudited):

Third Quarter of Fiscal 2025

Third Quarter of Fiscal 2024

GAAP

results

GAAP

operating

margin (a)

Adjustment

Non-

GAAP

results

Non-

GAAP

operating

margin (b)

GAAP

results

GAAP

operating

margin (a)

Adjustment

Non-

GAAP

results

Non-

GAAP

operating

margin (b)

$ 101,072

(c)

$ 87,966

(c)

—

580

(d)

2,991

(e)

2,604

(e)

3,536

(f)

3,718

(f)

Operating income

$ 59,687

7.2 %

$ 107,599

$ 167,286

20.1 %

$ 74,211

9.7 %

$ 94,868

$ 169,079

22.2 %

$ 101,072

(c)

$ 87,966

(c)

—

580

(d)

2,991

(e)

2,604

(e)

3,536

(f)

3,718

(f)

154

(g)

153

(g)

Net income

$ 63,639

$ 107,753

$ 171,392

$ 70,389

$ 95,021

$ 165,410

Net income per share — diluted

$ 0.19

$ 0.50

$ 0.21

$ 0.50

Weighted-average shares used in per share calculation — diluted

340,564

—

340,564

330,255

—

330,255

(a) GAAP operating margin is defined as GAAP operating income divided by revenue.

(b) Non-GAAP operating margin is defined as non-GAAP operating income divided by revenue.

(d) To eliminate payments to former shareholders of acquired company.

(e) To eliminate payroll tax expense related to stock-based activities.

(f) To eliminate amortization expense of acquired intangible assets.

(g) To eliminate amortization expense of debt issuance costs related to our debt.

Reconciliation from net cash provided by operating activities to free cash flow (in thousands except percentages, unaudited):

Third Quarter of Fiscal

2025

2024

Net cash provided by operating activities

$ 96,993

$ 158,432

Less: purchases of property and equipment (1)

(61,788)

(45,062)

Free cash flow (non-GAAP)

$ 35,205

$ 113,370

(1) Includes capitalized internal-use software costs of $6.0 million and $5.1 million for the third quarter of fiscal 2025 and 2024.

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SOURCE Pure Storage

Technology

Siemon Releases 2026 ESG Report and Progress Update Report

Published

53 minutes ago

April 19, 2026

WATERTOWN, Conn., April 19, 2026 /PRNewswire-PRWeb/ — The Siemon Company, a global leader in high‑performance network infrastructure solutions for data centers and smart buildings, is proud to announce the release of its 2026 Environmental, Social, and Governance (ESG) Report, showcasing accelerated climate action, third‑party‑verified performance, and continued leadership in transparent, responsible business practices. The report highlights Siemon’s strongest ESG results to date, including early achievement of science‑based climate targets, expanded renewable energy adoption, increased product transparency, and a people‑first culture that supports accountability, equity, and long‑term value creation.

Sustainability is not a side initiative; it’s embedded in how we operate, how we innovate, and how we lead. This year’s report reflects disciplined execution across our Sustainable Development Goals, our value chain, and our workforce.

Key Highlights from the 2026 ESG Report:

Greenhouse Gas (GHG) Emissions

Achieved a 69% absolute reduction in Scope 1 and Scope 2 emissions from a 2021 baseline, surpassing the company’s 2031 SBTi‑validated target four years ahead of schedule.Reduced Scope 3 emissions intensity by 23.1%, while maintaining essentially flat absolute emissions despite business growth.

Energy, Water & Waste

Increased renewable energy usage to 90% of global operations, achieving Scope 2 carbon neutrality at major U.S. and China facilities.Reduced water usage by 30%, exceeding the company’s long‑term reduction goal.Delivered a 17.1% absolute reduction in waste, supported by expanded recycling and sustainable packaging initiatives.

Product Transparency & Customer Enablement

Expanded Environmental Product Declaration (EPD) coverage to 41% of sales and Health Product Declaration (HPD) coverage to 49% of sales, supporting green building and material health requirements to a screening threshold of 100 ppm.Launched an online compliance portal providing on‑demand regulatory and standards assurance for 99% of finished goods, including RoHS, REACH, PFAS, and conflict minerals.

People & Social Impact

Certified™ by Great Place To Work® in the U.S. for the third consecutive year, with 90.4% of employees globally affirming Siemon as a great place to work.We have made a commitment to ensure that 100% of our employees are paid at or above the living wage. Contributed 2,600+ volunteer hours and over $160,000 in charitable giving, supporting education, community, and conservation initiatives worldwide.

Governance & Transparency

Advanced alignment with the EU Corporate Sustainability Reporting Directive (CSRD), completing a third‑party‑reviewed Double Materiality Assessment and Limited Assurance Audit.Maintained 100% employee training on the Company Code of Conduct, aligned with the UN Global Compact and Responsible Business Alliance principles.

“Sustainability is not a side initiative; it’s embedded in how we operate, how we innovate, and how we lead. This year’s report reflects disciplined execution across our Sustainable Development Goals, our value chain, and our workforce. We’re focused on delivering measurable progress today while building the systems and governance needed for the future.”

– John Siemon, Chief Technology Officer and Chief Operating Officer at Siemon

In a unique effort to bridge corporate reporting with tangible action, Siemon has integrated an interactive giving component into the digital publication. Within the executive summary and each primary pillar – Environmental, Social, and Governance -readers will find a dedicated link to unlock a corporate donation. This initiative empowers stakeholders to personally direct Siemon to fund toward one of five global non-profit partners: Habitat for Humanity, Doctors Without Borders, Engineers Without Borders, One Tree Planted, or Oceana.

The full 2026 ESG Report is available for download at www.siemon.com/esg.

About Siemon

Siemon is a global market leader in the design and manufacture of high-performance connectivity solutions for data centers and smart buildings. We empower our customers to connect faster, scale smarter and deploy with confidence. Founded in 1903, our legacy of customer-driven innovation, engineering excellence, and an unwavering commitment to sustainability has made us the benchmark for quality and reliability. We deliver precision-built copper, fiber and high-speed connectivity solutions that perform at scale, with the flexibility, speed, and support our customers rely on. With operations in over 100 countries, Siemon has one of the industry’s broadest solution portfolios and is the trusted partner behind the networks that connect the world. Find out more at www.siemon.com.

Media Contact

Brian Baum, Siemon, 1 8609454200, brian_baum@siemon.com

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SOURCE Siemon

Technology

Quickplay’s Triple Play of New Customers, Products and Partnerships Set to Dominate NAB 2026

Published

2 hours ago

April 19, 2026

LAS VEGAS, April 19, 2026 /PRNewswire/ — (2026 NAB Show) – Quickplay, the Content to Value Operating System, today unveiled a broad array of company news including: an AI-enriched solution that identifies social signals and trending topics, and connects them to relevant content within minutes; transformative customer deployments; and powerful industry research and partnerships.

Debuting at NAB, Social Signals is a new technology within Quickplay AI Studio that identifies trending cultural moments and matches them with high-value content assets to automatically generate social-ready clips and posts. By combining external trend data with performance insights from owned channels, Social Signals enables content teams to move from insight to publishing in minutes, rather than days.

Social Signals is a key part of Quickplay’s AI Studio Solution, which includes metadata enrichment, moment detection, smart verticalization and multi-platform publishing. Its Smart Verticalizer uses multimodal AI and action tracking to intelligently reframe video –preserving key visual elements such as faces, gameplay and on-screen graphics – to maintain broadcast-quality standards across short-form formats. The company has also partnered with Visible Things, the creator-driven platform to deploy the first implementation of Social Signals across the Visible Things infrastructure.

Quickplay further announced it has gone live with Gray Media (NYSE: GTN)’s new streaming experience, which included consolidating 1,300 digital touchpoint, including 163 websites, 326 mobile apps and 815 CTV apps onto a single data-driven platform powered by Quickplay and Google Cloud (NASDAQ: GOOGL). The system now manages 269 live channels and 123 FAST channels across Amazon Prime Video, Roku (NASDAQ: ROKU), Samsung TV Plus, Vizio and Fire TV, delivering hyper-local content to 37% of U.S. TV households.

Quickplay also announced the cloud-native transformation of Television New Zealand’s streaming platform, TVNZ+. Completed in 12 months, Quickplay replaced a fragmented ecosystem of six+ vendors across UI/UX, content management, video processing, advertising and analytics with a single, unified platform. The team at TVNZ also named Amazon Web Services (NASDAQ: AMZN) as its preferred cloud platform for the transformation, further increasing efficiencies and lowering costs by consolidating onto a single cloud vendor. The technology overhaul will drive unprecedented innovation and efficiency for TVNZ, New Zealand’s state-owned broadcaster, which reaches over two million New Zealanders daily.

“Broadcasters don’t need another point solution. They need an AI-enabled operating system that turns content into measurable outcomes,” said Paul Pastor, Co-Founder and Chief Business Officer at Quickplay. “At NAB, we’re showing how to bring cultural moments, content catalogs and distribution workflows together to create engaging and revenue opportunities in real time.”

In partnership with Caretta Research, Quickplay will also release new research, “The Broadcaster Revolution Will Not Be Televised,” highlighting a critical bottleneck in the industry: North American broadcasters spend approximately 75% of their time on technical workflows, leaving only 25% for content creation. The report outlines how automated workflows and unified operations can help broadcasters meet the growing demand for short-form video while maintaining editorial quality and accelerating monetization.

Additionally, Quickplay has joined NAB PILOT, a coalition of innovators, educators and advocates dedicated to advancing broadcast technologies and cultivating new media opportunities. As a part of this group, Quickplay is expanding its collaboration with broadcasters to redefine how value is derived from content.

Quickplay at NAB 2026:

Paul Pastor, Jordan Bartow, and Peter Tanner of Quickplay, and Albert Lai of Google Cloud will be on a panel: An Audience of One: How Gray Media + Google Cloud + Quickplay are Using AI and Cloud OTT to Personalize Local News, Enable User-Generated Content, Engage Younger Viewers, and Unlock New Revenue for Broadcasters. Central Hall Stage, Monday, April 20 at 4:15p PTAt the NAB Streaming Summit TVNZ’s Chief Digital Officer, Rob Hutchinson, will present “How TVNZ+ Built a Co-Viewing Product” on Tuesday, April 21 at 11:30 AM PT.Live Demonstrations: See Quickplay technology in action at AWS, GCP, TwelveLabs and the Encore. To book a meeting, email hello@quickplay.com

About Quickplay:
Quickplay is the Content to Value Operating System for media and entertainment, connecting every stage of the content lifecycle, from creation to monetization. By applying intelligence where it drives measurable impact, Quickplay enables broadcasters, sports operators, streamers, and creators to turn their catalogs into revenue. Quickplay powers 2.5 billion streaming minutes per month, with 5 billion ad impressions served and 99.999% streaming uptime.

Quickplay was founded by four innovators with deep media and entertainment technology experience from AT&T, McKinsey and Company, The Walt Disney Company, and Warner Bros. Discovery. Headquartered in Toronto, the company has offices in Los Angeles, San Diego, Chennai, and throughout Europe. For more information, visit quickplay.com.

Media Contact:
Breakaway Communications for Quickplay
quickplaypr@breakawaycom.com
+1 917-731-5734

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SOURCE Quickplay

Technology

Harmonic Enables DIRECTV to Reimagine Nationwide DTH Service

Published

2 hours ago

April 19, 2026

Harmonic’s Cloud-Native VOS Media Software Lowers Costs by Unifying Media Playout to Delivery on a Single Platform

SAN JOSE, Calif., April 19, 2026 /PRNewswire/ — Harmonic (NASDAQ: HLIT) today announced that DIRECTV is transforming its U.S. direct-to-home (DTH) video platform with Harmonic’s VOS® Media Software. Powering DIRECTV’s playout-to-delivery workflow, Harmonic’s cloud-native software reduces operational costs while enabling scalable, exceptional-quality video delivery for the service provider’s vast array of linear channels.

“As the demand for high-quality media content soars, DIRECTV is committed to deploying innovative technology solutions that bring unparalleled entertainment experiences to our customers. Continuing our work with Harmonic is critical to achieving this mission,” said Jeffrey Seto, vice president of satellite and software engineering at DIRECTV. “Harmonic’s VOS Media Software replaces siloed systems with a unified, software-based platform. By centralizing advanced playout, ad insertion, branding and media processing, we’re simplifying operations and building a scalable foundation.”

Harmonic’s VOS Media Software enables a complete playout-to-delivery workflow for DIRECTV running in its private data center. The Harmonic solution handles ingest, advanced playout, ad insertion, branding, premium encoding and statistical multiplexing for the delivery of broadcast-quality linear channels via satellite distribution. VOS Media Software’s playout capabilities support ad insertion across DIRECTV’s high-value linear and occasional-use channels — including live events and pay-per-view programming — boosting monetization. DIRECTV’s internal automation, storage and monitoring systems are integrated directly with Harmonic’s APIs, enabling seamless control of scheduling, automation and channel operations.

“Harmonic is proud to support DIRECTV’s software-based approach in modernizing its playout-to-delivery operations,” said Gil Rudge, senior vice president, solutions and Americas sales, video business at Harmonic. “With Harmonic’s AI-driven encoding and advanced compression solution, DIRECTV is well positioned to deliver exceptional video experiences to viewers across their linear channels, optimizing quality while minimizing bandwidth usage and operational costs.”

Harmonic will showcase its VOS Media Software at the 2026 NAB Show, April 19-22, in Las Vegas in booth W2831. To schedule a meeting with the company, visit www.harmonicinc.com/video-streaming/events/nab/. Further information about Harmonic and the company’s solutions is available at www.harmonicinc.com.

About Harmonic
Harmonic (NASDAQ: HLIT), the worldwide leader in virtualized broadband and video delivery solutions, enables media companies and service providers to deliver ultra-high-quality video streaming and broadcast services to consumers globally. The company revolutionized broadband networking via the industry’s first virtualized broadband solution, enabling operators to more flexibly deploy gigabit internet services to consumers’ homes and mobile devices. Whether simplifying OTT video delivery via innovative cloud and software platforms, or powering the delivery of gigabit internet services, Harmonic is changing the way media companies and service providers monetize live and on-demand content on every screen. More information is available at www.harmonicinc.com.

Legal Notice Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements concerning Harmonic’s business and the anticipated capabilities, advantages, reliability, efficiency, market acceptance, market growth, specifications and benefits of Harmonic products, services and technology are forward-looking statements. These statements are based on our current expectations and beliefs and are subject to risks and uncertainties, including the risks and uncertainties more fully described in Harmonic’s filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the year ended Dec. 31, 2025, its Quarterly Reports on Form 10-Q and its Current Reports on Form 8-K. The forward-looking statements in this press release are based on information available to Harmonic as of the date hereof, and Harmonic disclaims any obligation to update any forward-looking statements.

Harmonic, the Harmonic logo and other Harmonic marks are owned by Harmonic Inc. or its affiliates. All other trademarks referenced herein are the property of their respective owners.

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SOURCE Harmonic Inc.