$PSTG Guidance:

"We are raising our FY '25 revenue expectations to $3.15 billion, representing approximately 11.5% year-over-year growth. The raise to our FY '25 revenue expectation is the result of seeing an increase in Evergreen//One opportunities under $5 million converting to a traditional sale. While this dynamic increases product revenue expectations, it also reduces FY '25 TCV sales growth expectations for our as-a-service offerings. With lower TCV sales growth for our as-a-service offerings, we do not expect the growth of our consumption and subscription offerings will have a significant impact on our FY '25 revenue growth.

As such, we are not updating our FY '25 TCV sales guidance for our as-a-service offerings. For Q4, we anticipate revenue of $867 million, reflecting 9.7% year-over-year growth. Now moving to operating profit expectations. Aligned with our increased FY '25 revenue guidance, we are also raising our FY '25 operating profit expectations to approximately $540 million, reflecting an operating margin of 17%. For Q4, we are guiding operating profit of $135 million and operating margin of 15.6%."
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