'Everpure' Founder Sells Portion of Shares Through Trust... Performance Surges Right After Rebranding

Data storage company Everpure, Inc. (NYSE: P) reported first-quarter fiscal 2027 revenue of approximately $1.1 billion, a 35 percent year-over-year increase, driven by a 55 percent rise in product sales. Profitability improved to a GAAP operating income of $20 million and a non-GAAP operating income of $159 million. During the quarter, Chief Visionary Officer John Colgrove sold about 28,000 shares of Class A common stock under a Rule 10b5-1 plan at roughly $70 per share, realizing about $2.03 million in cash; he continues to hold several million shares directly and in trust.

Alongside its earnings announcement, Everpure unveiled its formal name change (from Pure Storage) and NYSE ticker update (from PSTG to P), confirmed the completion of its acquisition of data-intelligence firm 1touch, and disclosed $2 billion in annual recurring revenue (ARR) and $3.8 billion in remaining performance obligations (RPO). As a result, it raised its full-year fiscal 2027 guidance for both revenue and non-GAAP operating income.

In February, the company first announced its intention to rebrand as Everpure and acquire 1touch, and on April 17 finalized the switch of its NYSE symbol to P. In its recently filed annual report and earnings materials for fiscal 2026, Everpure also highlighted its strategy to transition from a pure storage-hardware vendor into a comprehensive data-management platform provider for the AI era.

Headquartered in Santa Clara, California, Everpure delivers all-flash storage hardware—FlashArray and FlashBlade—along with its Purity software and a cloud-based management platform. The company went public on the New York Stock Exchange in 2015. Founder and Chief Visionary Officer John Colgrove, who leads the firm’s core-technology development and long-term product strategy, remains a large insider shareholder.