Welcome!

News Feed Item

Pure Storage Announces Third Quarter Fiscal 2017 Results

-- Record revenue of $197.0 million, up 50% Y/Y, 3% above midpoint of guidance.

MOUNTAIN VIEW, Calif., Nov. 30, 2016 /PRNewswire/ -- Pure Storage (NYSE: PSTG) today announced financial results for its fiscal third quarter ended October 31, 2016.

www.purestorage.com

Key financial highlights include:

  • Quarterly revenue: $197.0 million, up 50% Y/Y, and ahead of the guidance range of $187 million to $195 million.
  • Quarterly gross margin: 64.8% GAAP; 65.5% non-GAAP, up 3.7 ppts and 3.8 ppts Y/Y, respectively, and in line with non-GAAP gross margin guidance of 64% to 67%.
  • Quarterly operating margin: -39.7% GAAP; -9.8% non-GAAP, up 2.6 ppts and 11.6 ppts Y/Y, respectively, and ahead of non-GAAP operating margin guidance of -17.5% to -13.5%.

"Pure Storage continues to rewrite the rules for the data storage industry," said Pure Storage CEO Scott Dietzen. "We again reported better-than-expected financial performance, driven by customer enthusiasm for our smarter approach to enterprise storage. In a world dominated by big data and cloud computing, Pure's software-centric approach is the right solution at the right time."

"We are excited about our record Q3 revenue and significant operating leverage improvement," said Pure Storage CFO Tim Riitters. "We continue to focus on driving growth and market share gains with a close eye on profitability."

Over 300 new customers joined Pure Storage this quarter, increasing the total to more than 2,600 organizations, including more than 100 of the Fortune 500. New customer wins in the quarter include: Hyatt Hotels Corporation, Cushman & Wakefield, Academy Award-winning animation studio LAIKA, Bill.com and CallidusCloud, among others. New FlashBlade customer wins include: CUProdigy, a technology organization delivering private cloud solutions for credit unions, and Paylocity, a developer of industry-leading, cloud-based payroll and human capital management software solutions for medium-sized organizations.

Third Quarter Fiscal 2017 Financial Highlights

The following tables summarize our consolidated financial results for the fiscal quarters ended October 31, 2015 and 2016 (in millions except per share amounts, unaudited):

GAAP Quarterly Financial Information


Three Months Ended
October 31, 2015

Three Months Ended
October 31, 2016

Y/Y
Change

Revenue

$131.4

$197.0

50%

Gross Margin 

61.1%

64.8%

3.7 ppts

Product Gross Margin

63.0%

65.9%

2.9 ppts

Support Gross Margin

49.1%

59.9%

10.8 ppts

Operating Loss

-$55.6

-$78.2

-$22.6

Operating Margin

-42.3%

-39.7%

2.6 ppts

Net Loss

-$56.5

-$78.8

-$22.3

Net Loss per Share

-$0.76

-$0.40

$0.36

Weighted-Average Shares (Basic and Diluted)

74.6

195.8

N/A


 

Non-GAAP Quarterly Financial Information


Three Months Ended
October 31, 2015

Three Months Ended
October 31, 2016

Y/Y
Change

Gross Margin

61.7%

65.5%

3.8 ppts

Product Gross Margin

63.1%

66.0%

2.9 ppts

Support Gross Margin

52.8%

63.2%

10.4 ppts

Operating Loss*

-$28.1

-$19.4

$8.7

Operating Margin*

-21.4%

-9.8%

11.6 ppts

Net Loss*

-$29.1

-$20.0

$9.1

Net Loss per Share*

-$0.18

-$0.10

$0.08

Weighted-Average Shares (Basic and Diluted)

164.9

195.8

N/A

Free Cash Flow*

-$13.0

-$35.8

-$22.8

*In the three months ended October 31, 2016, operating loss, operating margin, net loss, net loss per share and free cash flow exclude a one-time cash charge of $30.0 million or 15 cents per share related to a legal settlement.

A reconciliation between GAAP and non-GAAP information is provided at the end of this release.

Financial Outlook

Fourth Quarter Fiscal 2017 Guidance:

  • Revenue in the range of $219 million to $227 million
  • Non-GAAP gross margin in the range of 64% to 67%
  • Non-GAAP operating margin in the range of -9% to -5%

All forward-looking non-GAAP financial measures contained in this section titled "Financial Outlook" exclude stock-based compensation expense, payroll tax expense related to stock-based activities and, as applicable, other special items. We have not reconciled guidance for non-GAAP gross margin and non-GAAP operating margin to their most directly comparable GAAP measures because such items that impact these measures are not within our control and/or cannot be reasonably predicted. Accordingly, a reconciliation of the non-GAAP financial measure guidance to the corresponding GAAP measures is not available without unreasonable effort.

Conference Call Information

Pure Storage will host a teleconference to discuss the third quarter of fiscal 2017 results at 2:00 p.m. (PT) on November 30, 2016. Pure Storage will post its supplemental earnings presentation to the investor relations website at investor.purestorage.com following the conference call. Teleconference details are as follows:

  • To Listen via Telephone: (877) 201-0168 or (647) 788-4901 (for international callers).
  • To Listen via the Internet: A live and replay audio broadcast of the conference call with corresponding slides will be available at investor.purestorage.com.
  • Replay: A telephone playback of this conference call is scheduled to be available beginning at 5 p.m. (PT) on November 30, 2016 through 9 p.m. (PT) on January 13, 2017. The replay will be accessible by calling (855) 859-2056 or (404) 537-3406 (for international callers), with conference ID 91385195. The call runs 24 hours per day, including weekends.

CEO Commentary

Pure Storage has posted a blog from its CEO discussing third quarter results at investor.purestorage.com and blog.purestorage.com.

Upcoming Investor Conferences

Matt Kixmoeller, Pure Storage's Vice President of Product, will participate in a fireside chat at the Raymond James Technology Investors Conference in New York on Monday, December 5, 2016 at 4:10 p.m. (ET).

Scott Dietzen, Pure Storage's CEO, and Tim Riitters, Pure Storage's CFO, will participate in a fireside chat at the Barclays Global Technology, Media and Telecommunications Conference in San Francisco on Wednesday, December 7, 2016 at 11:00 a.m. (PT).

About Pure Storage

Pure Storage (NYSE: PSTG) helps companies push the boundaries of what's possible. The company's all-flash based technology, combined with its customer-friendly business model, drives business and IT transformation with Smart Storage that is effortless, efficient and evergreen. Pure Storage offers two flagship products: FlashArray//M, optimized for structured workloads, and FlashBlade, ideal for unstructured data. With Pure's industry leading Satmetrix-certified NPS score of 83.5, Pure customers are some of the happiest in the world, and include organizations of all sizes, across an ever-expanding range of industries.

Connect with Pure Storage:
Read the blog
Converse on Twitter
Follow on LinkedIn

Analyst Recognition:
Gartner Magic Quadrant for Solid-State Arrays
IDC MarketScape for All-Flash Arrays

Pure Storage, Evergreen, FlashBlade and the "P" Logo mark are trademarks of Pure Storage, Inc. All other trademarks or names referenced in this document are the property of their respective owners.

Forward Looking Statements

This press release contains forward-looking statements regarding our products, business and operations, including our expectations regarding technology differentiation, customer adoption and business model advantages, our ability to maintain growth and take market share, and our financial outlook for the fourth quarter of fiscal 2017 and statements regarding our products, business, operations and results, including progress towards profitability. 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 captions "Risk Factors" and elsewhere in our filings and reports with the U.S. Securities and Exchange Commission, including, but not limited to, our Annual Report on Form 10-K for the fiscal year ended January 31, 2016, which is available on our investor relations website at investor.purestorage.com and on the SEC website at www.sec.gov. Additional information will also be set forth in our Quarterly Report on Form 10-Q for the quarter ended October 31, 2016. All information provided in this release and in the attachments is as of November 30, 2016, and we undertake no duty to update this information unless required by law.

Non-GAAP Financial Measures

To supplement our condensed consolidated financial statements, which are prepared and presented in accordance with GAAP, we use the following non-GAAP financial measures: non-GAAP gross profit, non-GAAP gross margin, non-GAAP loss from operations, non-GAAP operating margin, non-GAAP net loss, non-GAAP net loss per share, free cash flow, and free cash flow as a percentage of revenue. In computing these non-GAAP financial measures, we exclude the effects of stock-based compensation expense, payroll tax expense related to stock-based activities and assumed preferred stock conversion.  For the three months ended October 31, 2016, non-GAAP loss from operations, non-GAAP operating margin, non-GAAP net loss, non-GAAP net loss per share, free cash flow and free cash flow as a percentage of revenue also exclude a one-time cash charge related to a legal settlement. The presentation of this financial information is not intended to be considered in isolation or as a substitute for, or superior to, the financial information prepared and presented in accordance with GAAP.

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 and expenditures such as stock-based compensation expense and one time legal settlement charge that may not be indicative of our ongoing core business operating results. We believe 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 used in operating activities to free cash flow," included at the end of this release.

 

PURE STORAGE, INC.

Condensed Consolidated Balance Sheets

(in thousands)








As of


As of



January 31, 2016


October 31, 2016





(unaudited)

Assets





Current assets:





   Cash and cash equivalents


$        604,742


$            152,461

   Marketable securities


-


365,785

   Accounts receivable, net of allowance of $944 and $2,414


126,324


163,038

   Inventory


20,649


20,112

   Deferred commissions, current


15,703


14,298

   Prepaid expenses and other current assets


20,652


18,756

     Total current assets


788,070


734,450

Property and equipment, net


52,629


82,088

Intangible assets, net


6,980


6,936

Deferred income taxes, non-current


536


1,074

Other long-term assets


22,568


29,588

          Total assets


$        870,783


$            854,136






Liabilities and stockholders' equity





Current liabilities:





   Accounts payable


$          38,187


$              43,412

   Accrued compensation and benefits


32,995


29,137

   Accrued expenses and other liabilities


14,076


20,545

   Deferred revenue, current


94,514


134,536

   Liability related to early exercised stock options


4,760


3,967

     Total current liabilities   


184,532


231,597






Deferred revenue, non-current


121,690


141,849

Other long-term liabilities


1,207


2,925

     Total liabilities


307,429


376,371






Stockholders' equity:





Common stock and additional paid-in capital


1,118,689


1,237,032

Accumulated other comprehensive income


-


298

Accumulated deficit


(555,335)


(759,565)

Total stockholders' equity


563,354


477,765






         Total liabilities and stockholders' equity


$        870,783


$            854,136






 

PURE STORAGE, INC.

Condensed Consolidated Statements of Operations

(in thousands, except per share data)












Three Months Ended October 31,


Nine Months Ended October 31,



2015


2016


2015


2016



(unaudited)

Revenue:









  Product 


$       113,573


$     160,523


$      248,383


$              403,181

  Support


17,791


36,433


41,719


96,936

Total revenue


131,364


196,956


290,102


500,117










Cost of revenue:









  Product (1) 


41,995


54,725


92,348


131,618

  Support (1)


9,058


14,597


23,479


41,531

Total cost of revenue


51,053


69,322


115,827


173,149










Gross profit


80,311


127,634


174,275


326,968










Operating expenses:









  Research and development (1) 


43,065


61,612


112,935


173,185

  Sales and marketing (1)


63,803


91,392


171,647


262,073

  General and administrative (1) 


29,022


22,810


56,941


64,021

  Legal settlement (2)


-


30,000


-


30,000

Total operating expenses


135,890


205,814


341,523


529,279










Loss from operations


(55,579)


(78,180)


(167,248)


(202,311)

Other income (expense), net


(171)


(192)


(1,245)


1,127

Loss before provision for income taxes


(55,750)


(78,372)


(168,493)


(201,184)

Provision for income taxes


751


441


965


967

Net loss


$       (56,501)


$     (78,813)


$    (169,458)


$            (202,151)










Net loss per share attributable to common stockholders, basic and diluted


$           (0.76)


$         (0.40)


$          (3.60)


$                  (1.05)










Weighted-average shares used in computing net loss per share attributable to common stockholders, basic and diluted


74,565


195,807


47,109


192,637










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










Cost of revenue -- product


$                43


$            138


$             139


$                     425

Cost of revenue -- support


657


1,178


1,511


3,982

Research and development


8,195


15,241


18,624


40,875

Sales and marketing


4,559


8,468


10,539


24,719

General and administrative 


2,085


3,210


5,385


9,128

Total stock-based compensation expense


$         15,539


$       28,235


$        36,198


$                79,129










(2) One-time charge for our legal settlement with Dell, Inc.










 

PURE STORAGE, INC.

Condensed Consolidated Statements of Cash Flows

(in thousands)












Three Months Ended October 31,


Nine Months Ended October 31,



2015


2016


2015


2016



(unaudited)

Cash flows from operating activities









Net loss


$     (56,501)


$        (78,813)


$    (169,458)


$   (202,151)

Adjustments to reconcile net loss to net cash used in operating activities:








    Depreciation and amortization


8,850


13,642


23,118


35,978

    Stock-based compensation expense


15,539


28,235


36,198


79,129

    Contribution of common stock to Pure Good Foundation


11,900


-


11,900


-

    Other


-


557


-


1,051

Changes in operating assets and liabilities:









    Accounts receivable, net


(32,077)


(44,775)


(53,094)


(38,186)

    Inventory


(1,767)


2,203


(3,420)


(189)

    Deferred commissions


(3,607)


(43)


(8,472)


1,844

    Prepaid expenses and other assets


569


848


(2,065)


39

    Accounts payable


7,807


13,646


10,224


3,639

    Accrued compensation and other liabilities


5,737


(1,901)


17,216


6,786

    Deferred revenue


38,174


19,078


87,987


60,180

Net cash used in operating activities


(5,376)


(47,323)


(49,866)


(51,880)










Cash flows from investing activities









    Purchases of property and equipment


(7,672)


(18,484)


(29,495)


(64,602)

    Purchases of intangible assets


-


-


-


(1,000)

    Purchases of marketable securities


-


(55,590)


-


(483,558)

    Sales of marketable securities


-


20,744


-


79,815

    Maturities of marketable securities


-


32,413


-


38,213

    Net increase in restricted cash


(2,484)


-


(2,484)


(5,600)

Net cash used in investing activities


(10,156)


(20,917)


(31,979)


(436,732)










Cash flows from financing activities









    Proceeds from initial public offering, net 


459,425


-


459,425


-

    Net proceeds from exercise of stock options


1,706


4,356


4,710


10,725

    Proceeds from issuance of common stock under employee stock purchase plan

-


10,527


-


25,606

    Payments of deferred offering costs


(574)


-


(1,690)


-

Net cash provided by financing activities


460,557


14,883


462,445


36,331










Net increase (decrease) in cash and cash equivalents


445,025


(53,357)


380,600


(452,281)

Cash and cash equivalents, beginning of period


128,282


205,818


192,707


604,742

Cash and cash equivalents, end of period


$     573,307


$        152,461


$      573,307


$     152,461










 

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, unaudited):
















Three Months Ended October 31, 2015


Three Months Ended October 31, 2016


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)


















$             43

(c)






$           138

(c)












2

(d)


Gross profit -- product

$  71,578

63.0%

$             43


$     71,621

63.1%


$105,798

65.9%

$           140


$   105,938

66.0%
































$           657

(c)






$        1,178

(c)












9

(d)


Gross profit -- support

$    8,733

49.1%

$           657


$       9,390

52.8%


$  21,836

59.9%

$        1,187


$     23,023

63.2%
































$           700

(c)






$        1,316

(c)












11

(d)


Total gross profit

$  80,311

61.1%

$           700


$     81,011

61.7%


$127,634

64.8%

$        1,327


$   128,961

65.5%





























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





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





(c) To eliminate stock-based compensation expense.





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





 

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
















Three Months Ended October 31, 2015


Three Months Ended October 31, 2016


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)


















$      15,539

(c)






$      28,235

(c)





11,900

(d)




















30,000

(e)












548

(f)
















Loss from operations

$(55,579)

-42.3%

$      27,439


$    (28,140)

-21.4%


$(78,180)

-39.7%

$      58,783


$   (19,397)

-9.8%


















$      15,539

(c)






$      28,235

(c)





11,900

(d)




















30,000

(e)












548

(f)
















Net loss

$(56,501)


$      27,439


$    (29,062)



$(78,813)


$      58,783


$   (20,030)
















Net loss per share -- basic and diluted

$    (0.76)




$        (0.18)



$    (0.40)




$       (0.10)
















Weighted-average shares used in per share calculation -- basic and diluted

74,565


90,381

(g)

164,946



195,807




195,807
















(a) GAAP operating margin is defined as loss from operations divided by revenue.






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






(c) To eliminate stock-based compensation expense.






(d) To eliminate one-time charge for an equity grant to the Pure Good Foundation.






(e) To eliminate one-time charge for our legal settlement with Dell, Inc.






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






(g) To assume preferred stock conversion as of the beginning of the period.




















 

Reconciliation from net cash used in operating activities to free cash flow (in thousands, unaudited):







Three Months Ended October 31,



2015


2016


Net cash used in operating activities 

$                           (5,376)


$                         (47,323)


Less: purchases of property and equipment 

(7,672)


(18,484)


Add: cash paid for legal settlement 

-


30,000


Free cash flow 

$                         (13,048)


$                         (35,807)


Free cash flow as % of revenue

-9.9%


-18.2%







 

Logo - http://photos.prnewswire.com/prnh/20150127/171513LOGO

 

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/pure-storage-announces-third-quarter-fiscal-2017-results-300370759.html

SOURCE Pure Storage

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
"Qosmos has launched L7Viewer, a network traffic analysis tool, so it analyzes all the traffic between the virtual machine and the data center and the virtual machine and the external world," stated Sebastien Synold, Product Line Manager at Qosmos, in this SYS-CON.tv interview at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
"We are a modern development application platform and we have a suite of products that allow you to application release automation, we do version control, and we do application life cycle management," explained Flint Brenton, CEO of CollabNet, in this SYS-CON.tv interview at DevOps at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
The 20th International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held June 6-8, 2017, at the Javits Center in New York City, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Containers, Microservices and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportunity. Submit your speaking proposal ...
You have great SaaS business app ideas. You want to turn your idea quickly into a functional and engaging proof of concept. You need to be able to modify it to meet customers' needs, and you need to deliver a complete and secure SaaS application. How could you achieve all the above and yet avoid unforeseen IT requirements that add unnecessary cost and complexity? You also want your app to be responsive in any device at any time. In his session at 19th Cloud Expo, Mark Allen, General Manager of...
The Internet of Things (IoT) promises to simplify and streamline our lives by automating routine tasks that distract us from our goals. This promise is based on the ubiquitous deployment of smart, connected devices that link everything from industrial control systems to automobiles to refrigerators. Unfortunately, comparatively few of the devices currently deployed have been developed with an eye toward security, and as the DDoS attacks of late October 2016 have demonstrated, this oversight can ...
"ReadyTalk is an audio and web video conferencing provider. We've really come to embrace WebRTC as the platform for our future of technology," explained Dan Cunningham, CTO of ReadyTalk, in this SYS-CON.tv interview at WebRTC Summit at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Bert Loomis was a visionary. This general session will highlight how Bert Loomis and people like him inspire us to build great things with small inventions. In their general session at 19th Cloud Expo, Harold Hannon, Architect at IBM Bluemix, and Michael O'Neill, Strategic Business Development at Nvidia, discussed the accelerating pace of AI development and how IBM Cloud and NVIDIA are partnering to bring AI capabilities to "every day," on-demand. They also reviewed two "free infrastructure" pr...
Major trends and emerging technologies – from virtual reality and IoT, to Big Data and algorithms – are helping organizations innovate in the digital era. However, to create real business value, IT must think beyond the ‘what’ of digital transformation to the ‘how’ to harness emerging trends, innovation and disruption. Architecture is the key that underpins and ties all these efforts together. In the digital age, it’s important to invest in architecture, extend the enterprise footprint to the cl...
Keeping pace with advancements in software delivery processes and tooling is taxing even for the most proficient organizations. Point tools, platforms, open source and the increasing adoption of private and public cloud services requires strong engineering rigor – all in the face of developer demands to use the tools of choice. As Agile has settled in as a mainstream practice, now DevOps has emerged as the next wave to improve software delivery speed and output. To make DevOps work, organization...
"Dice has been around for the last 20 years. We have been helping tech professionals find new jobs and career opportunities," explained Manish Dixit, VP of Product and Engineering at Dice, in this SYS-CON.tv interview at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
More and more brands have jumped on the IoT bandwagon. We have an excess of wearables – activity trackers, smartwatches, smart glasses and sneakers, and more that track seemingly endless datapoints. However, most consumers have no idea what “IoT” means. Creating more wearables that track data shouldn't be the aim of brands; delivering meaningful, tangible relevance to their users should be. We're in a period in which the IoT pendulum is still swinging. Initially, it swung toward "smart for smar...
Rapid innovation, changing business landscapes, and new IT demands force businesses to make changes quickly. In the eyes of many, containers are at the brink of becoming a pervasive technology in enterprise IT to accelerate application delivery. In this presentation, attendees learned about the: The transformation of IT to a DevOps, microservices, and container-based architecture What are containers and how DevOps practices can operate in a container-based environment A demonstration of how ...
Successful digital transformation requires new organizational competencies and capabilities. Research tells us that the biggest impediment to successful transformation is human; consequently, the biggest enabler is a properly skilled and empowered workforce. In the digital age, new individual and collective competencies are required. In his session at 19th Cloud Expo, Bob Newhouse, CEO and founder of Agilitiv, drew together recent research and lessons learned from emerging and established compa...
Extracting business value from Internet of Things (IoT) data doesn’t happen overnight. There are several requirements that must be satisfied, including IoT device enablement, data analysis, real-time detection of complex events and automated orchestration of actions. Unfortunately, too many companies fall short in achieving their business goals by implementing incomplete solutions or not focusing on tangible use cases. In his general session at @ThingsExpo, Dave McCarthy, Director of Products...
Without a clear strategy for cost control and an architecture designed with cloud services in mind, costs and operational performance can quickly get out of control. To avoid multiple architectural redesigns requires extensive thought and planning. Boundary (now part of BMC) launched a new public-facing multi-tenant high resolution monitoring service on Amazon AWS two years ago, facing challenges and learning best practices in the early days of the new service. In his session at 19th Cloud Exp...