10-Q Filing

Everpure, Inc. CIK: 1474432 Q1 2017

Filing Information

Form Type	10-Q
Accession Number	`0001628280-17-006263`
Period End Date	20170430
Filing Date	20170607
Fiscal Year	2017
Fiscal Period	Q1
XBRL Instance	pstg-20170430.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 79 Income Statement 36 Cash Flow Statement 58 Comprehensive Income 6

Balance Sheet 79 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$183.68M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$286.10M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$604.74M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$168.76M	USD	Point-in-time
Marketable securities	`AvailableForSaleSecuritiesCurrent`	$362.99M	USD	Point-in-time
Marketable securities	`AvailableForSaleSecuritiesCurrent`	$367.22M	USD	Point-in-time
Accounts receivable, net of allowance of $2,000 and $1,744 as of January 31, 2017 and April 30, 2017	`AccountsReceivableNetCurrent`	$132.13M	USD	Point-in-time
Accounts receivable, net of allowance of $2,000 and $1,744 as of January 31, 2017 and April 30, 2017	`AccountsReceivableNetCurrent`	$168.98M	USD	Point-in-time
Inventory	`InventoryNet`	$39.48M	USD	Point-in-time
Inventory	`InventoryNet`	$23.50M	USD	Point-in-time
Accounts receivable, allowance	`AllowanceForDoubtfulAccountsReceivableCurrent`	$1.74M	USD	Point-in-time
Deferred commissions, current	`DeferredCommissionsCurrent`	$16.41M	USD	Point-in-time
Deferred commissions, current	`DeferredCommissionsCurrent`	$15.79M	USD	Point-in-time
Accounts receivable, allowance	`AllowanceForDoubtfulAccountsReceivableCurrent`	$2.00M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$25.16M	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$28.64M	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	20.00M	shares	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	20.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$780.08M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$752.63M	USD	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	20.00M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$82.29M	USD	Point-in-time
Preferred stock, shares issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$81.69M	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$6.18M	USD	Point-in-time
Preferred stock, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$6.56M	USD	Point-in-time
Preferred stock, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Common stock, par value per share (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value per share (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Deferred income taxes, non-current	`DeferredTaxAssetsLiabilitiesNetNoncurrent`	$844.00K	USD	Point-in-time
Deferred income taxes, non-current	`DeferredTaxAssetsLiabilitiesNetNoncurrent`	$795.00K	USD	Point-in-time
Other assets, non-current	`OtherAssetsNoncurrent`	$30.97M	USD	Point-in-time
Other assets, non-current	`OtherAssetsNoncurrent`	$30.57M	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	2.25B	shares	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	2.25B	shares	Point-in-time
Total assets	`Assets`	$899.75M	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	204.36M	shares	Point-in-time
Total assets	`Assets`	$872.88M	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	208.12M	shares	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	204.36M	shares	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	208.12M	shares	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$51.02M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$52.72M	USD	Point-in-time
Accrued compensation and benefits	`EmployeeRelatedLiabilitiesCurrent`	$39.25M	USD	Point-in-time
Accrued compensation and benefits	`EmployeeRelatedLiabilitiesCurrent`	$24.71M	USD	Point-in-time
Accrued expenses and other liabilities	`AccruedLiabilitiesCurrent`	$21.70M	USD	Point-in-time
Accrued expenses and other liabilities	`AccruedLiabilitiesCurrent`	$15.98M	USD	Point-in-time
Deferred revenue, current	`DeferredRevenueCurrent`	$158.09M	USD	Point-in-time
Deferred revenue, current	`DeferredRevenueCurrent`	$159.09M	USD	Point-in-time
Liability related to early exercised stock options	`LiabilityRelatedToEarlyExercisedStockOptions`	$1.06M	USD	Point-in-time
Liability related to early exercised stock options	`LiabilityRelatedToEarlyExercisedStockOptions`	$1.36M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$273.12M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$251.87M	USD	Point-in-time
Deferred revenue, non-current	`DeferredRevenueNoncurrent`	$152.43M	USD	Point-in-time
Deferred revenue, non-current	`DeferredRevenueNoncurrent`	$145.03M	USD	Point-in-time
Other liabilities, non-current	`OtherLiabilitiesNoncurrent`	$3.16M	USD	Point-in-time
Other liabilities, non-current	`OtherLiabilitiesNoncurrent`	$3.27M	USD	Point-in-time
Total liabilities	`Liabilities`	$421.31M	USD	Point-in-time
Total liabilities	`Liabilities`	$407.57M	USD	Point-in-time
Commitments and contingencies (Note 5)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 5)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock, par value of $0.0001 per share 20,000 shares authorized as of January 31, 2017 and April 30, 2017; no shares issued and outstanding as of January 31, 2017 and April 30, 2017	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, par value of $0.0001 per share 20,000 shares authorized as of January 31, 2017 and April 30, 2017; no shares issued and outstanding as of January 31, 2017 and April 30, 2017	`PreferredStockValue`	-	USD	Point-in-time
Class A and Class B common stock, par value of $0.0001 per share 2,250,000 (Class A 2,000,000, Class B 250,000) shares authorized as of January 31, 2017 and April 30, 2017; 204,364 (Class A 87,027, Class B 117,337) and 208,119 (Class A 93,271, Class B 114,848) shares issued and outstanding as of January 31, 2017 and April 30, 2017	`CommonStockValue`	$21.00K	USD	Point-in-time
Class A and Class B common stock, par value of $0.0001 per share 2,250,000 (Class A 2,000,000, Class B 250,000) shares authorized as of January 31, 2017 and April 30, 2017; 204,364 (Class A 87,027, Class B 117,337) and 208,119 (Class A 93,271, Class B 114,848) shares issued and outstanding as of January 31, 2017 and April 30, 2017	`CommonStockValue`	$20.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$1.33B	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$1.28B	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-445.00K	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-562.00K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-802.48M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-864.85M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$478.43M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$465.31M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$872.88M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$899.75M	USD	Point-in-time

Income Statement 36 line items

Line Item	Tag	Value	Unit	Period
Product	`SalesRevenueGoodsNet`	$138.43M	USD	1 Quarter
Product	`SalesRevenueGoodsNet`	$111.74M	USD	1 Quarter
Support	`SalesRevenueServicesNet`	$44.21M	USD	1 Quarter
Support	`SalesRevenueServicesNet`	$28.21M	USD	1 Quarter
Total revenue	`SalesRevenueNet`	$139.95M	USD	1 Quarter
Total revenue	`SalesRevenueNet`	$182.63M	USD	1 Quarter
Product	`CostOfGoodsSold`	$46.65M	USD	1 Quarter
Product	`CostOfGoodsSold`	$34.05M	USD	1 Quarter
Support	`CostOfServices`	$16.90M	USD	1 Quarter
Support	`CostOfServices`	$12.93M	USD	1 Quarter
Total cost of revenue	`CostOfGoodsAndServicesSold`	$63.55M	USD	1 Quarter
Total cost of revenue	`CostOfGoodsAndServicesSold`	$46.98M	USD	1 Quarter
Gross profit	`GrossProfit`	$119.08M	USD	1 Quarter
Gross profit	`GrossProfit`	$92.97M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$52.94M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$65.43M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$83.10M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$96.96M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$20.10M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$21.58M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$157.62M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$182.49M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-63.41M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-64.65M	USD	1 Quarter
Other income (expense), net	`NonoperatingIncomeExpense`	$2.00M	USD	1 Quarter
Other income (expense), net	`NonoperatingIncomeExpense`	$1.28M	USD	1 Quarter
Loss before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-61.41M	USD	1 Quarter
Loss before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-63.37M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$964.00K	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$420.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-63.79M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-62.37M	USD	1 Quarter
Net loss per share attributable to common stockholders, basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.34	USD	1 Quarter
Net loss per share attributable to common stockholders, basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.30	USD	1 Quarter
Weighted-average shares used in computing net loss per share attributable to common stockholders, basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	205.78M	shares	1 Quarter
Weighted-average shares used in computing net loss per share attributable to common stockholders, basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	189.28M	shares	1 Quarter

Cash Flow Statement 58 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-63.79M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-62.37M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$10.43M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$14.82M	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$32.22M	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$23.00M	USD	1 Quarter
Other	`OtherNoncashIncomeExpense`	$-451.00K	USD	1 Quarter
Other	`OtherNoncashIncomeExpense`	$-182.00K	USD	1 Quarter
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$-36.57M	USD	1 Quarter
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$-28.59M	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$2.62M	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$16.11M	USD	1 Quarter
Deferred commissions	`IncreaseDecreaseInDeferredCommissions`	$362.00K	USD	1 Quarter
Deferred commissions	`IncreaseDecreaseInDeferredCommissions`	$-4.14M	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$2.74M	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$3.94M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$166.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-3.98M	USD	1 Quarter
Accrued compensation and other liabilities	`IncreaseDecreaseInAccruedCompensationAndOtherLiabilities`	$-11.02M	USD	1 Quarter
Accrued compensation and other liabilities	`IncreaseDecreaseInAccruedCompensationAndOtherLiabilities`	$-20.00M	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$8.40M	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$20.65M	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-14.30M	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$6.99M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$12.77M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$24.38M	USD	1 Quarter
Purchases of marketable securities	`PaymentsToAcquireAvailableForSaleSecuritiesDebt`	$343.47M	USD	1 Quarter
Purchases of marketable securities	`PaymentsToAcquireAvailableForSaleSecuritiesDebt`	$55.98M	USD	1 Quarter
Sales of marketable securities	`ProceedsFromSaleOfAvailableForSaleSecuritiesDebt`	$5.38M	USD	1 Quarter
Sales of marketable securities	`ProceedsFromSaleOfAvailableForSaleSecuritiesDebt`	$23.33M	USD	1 Quarter
Maturities of marketable securities	`ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities`	-	USD	1 Quarter
Maturities of marketable securities	`ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities`	$46.32M	USD	1 Quarter
Net decrease in restricted cash	`IncreaseDecreaseInRestrictedCash`	-	USD	1 Quarter
Net decrease in restricted cash	`IncreaseDecreaseInRestrictedCash`	$-706.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-17.04M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-343.81M	USD	1 Quarter
Net proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$2.26M	USD	1 Quarter
Net proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$3.09M	USD	1 Quarter
Proceeds from issuance of common stock under employee stock purchase plan	`ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlans`	$15.08M	USD	1 Quarter
Proceeds from issuance of common stock under employee stock purchase plan	`ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlans`	$14.17M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$18.17M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$16.42M	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-14.92M	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-318.65M	USD	1 Quarter
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$183.68M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$286.10M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$604.74M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$168.76M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$183.68M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$286.10M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$604.74M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$168.76M	USD	Point-in-time
Cash paid for income taxes	`IncomeTaxesPaid`	$1.32M	USD	1 Quarter
Cash paid for income taxes	`IncomeTaxesPaid`	$790.00K	USD	1 Quarter
Property and equipment purchased but not yet paid	`CapitalExpendituresIncurredButNotYetPaid`	$9.69M	USD	1 Quarter
Property and equipment purchased but not yet paid	`CapitalExpendituresIncurredButNotYetPaid`	$9.45M	USD	1 Quarter
Vesting of early exercised stock options	`VestingOfEarlyExercisedStockOptions`	$298.00K	USD	1 Quarter
Vesting of early exercised stock options	`VestingOfEarlyExercisedStockOptions`	$176.00K	USD	1 Quarter

Comprehensive Income 6 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-63.79M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-62.37M	USD	1 Quarter
Change in unrealized net gain on available-for-sale securities	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$117.00K	USD	1 Quarter
Change in unrealized net gain on available-for-sale securities	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$807.00K	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-62.98M	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-62.26M	USD	1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.