Everpure (NYSE:P) outlined a strategy centered on expanding its enterprise storage business while pursuing new opportunities in AI infrastructure, data software and hyperscale deployments, with executives projecting accelerated growth and higher profitability through fiscal 2028.
At the company’s investor event, Chairman and CEO Charlie Giancarlo said Everpure has gained market share annually for more than 12 years and believes those gains can accelerate. He attributed the company’s position to an R&D-led model, a unified software architecture and customer engagement metrics that he said differentiate Everpure from commodity-oriented competitors.
Core Business and Enterprise AI
Everpure said its core enterprise business remains a major growth driver. Giancarlo cited 38% year-over-year reported revenue growth and eight consecutive quarters of increasing revenue growth. He said the company is also expanding its subscription business through Evergreen//One, its storage-as-a-service offering.
Rob Lee, Everpure’s chief technology and growth officer, said the company expects the enterprise storage market to grow at roughly a 12% compound annual rate over the next several years, compared with historical mid- to high-single-digit growth. Lee attributed the expected acceleration in part to AI, which he said increases the value of data and creates demand for new GPU-connected infrastructure inside enterprises.
Lee said Everpure is seeing enterprise AI projects move from pilots into production. He cited a multinational bank that chose Everpure to support an internal AI environment for employee-developed agents and tools, using the company’s technology for data input, memory, cache and development environments.
Giancarlo said enterprise AI requires high standards for accuracy, repeatability, consistency and diagnosability. He argued that fragmented corporate data creates a challenge for AI systems and described Everpure’s “data primacy” strategy as an effort to help customers catalog, classify and contextualize data across their organizations.
New Revenue Opportunities
Executives identified three growth areas beyond the core and core AI business:
- Modern data software: This includes offerings such as Portworx, Everpure Cloud, Data Intelligence and Data Stream, intended to help customers manage data across on-premises and cloud environments.
- Scale AI: Everpure is targeting NeoClouds, frontier model builders and technology companies with FlashBlade//S and FlashBlade Exa systems designed for large AI workloads.
- Hyperscale solutions: The company is pursuing hyperscalers with DirectFlash technology, which it said can replace SSD and hard-drive architectures with a common flash-based design.
Lee said FlashBlade Exa extends the technology used in enterprise systems to environments supporting thousands to hundreds of thousands of GPUs and hundreds of petabytes to exabytes of data. He said Everpure’s latest MLPerf storage benchmark results ranked first across the configurations in which it participated.
In hyperscale, Everpure said DirectFlash can provide improved reliability, density, performance consistency and operational simplicity relative to conventional SSD deployments. Giancarlo said the company is already working with two hyperscale customers and expects additional wins, though he said its current share of those customers’ overall storage purchases remains small.
Management said the hyperscale strategy is based on selling to organizations that operate their own storage software stacks. The company said it sees interest not only among the largest cloud providers but also among other cloud and AI infrastructure operators with similar architectures.
Financial Outlook and Market Opportunity
Chief Financial Officer Tarek Robbiati said Everpure expects fiscal 2027 revenue of $5.05 billion at the midpoint of its guidance, representing 38% growth, and operating profit of $950 million, up 50% year over year.
For fiscal 2028, Robbiati provided a preliminary outlook for revenue of $7.0 billion to $7.3 billion, implying growth of 39% to 45% from the fiscal 2027 midpoint. The company expects operating income of approximately $1.7 billion to $1.9 billion, representing an operating margin of 24% to 26%.
Robbiati stressed that the fiscal 2028 figures are a preliminary outlook rather than formal guidance and said the range could narrow after the company completes its planning process.
The company expects its core and core AI market to reach $79 billion by fiscal 2030, according to management’s estimates. It estimated a $97 billion hyperscale solutions market, a $22 billion modern data software market and a $9 billion scale AI market by that year. Everpure said its all-flash serviceable addressable market could rise from $34 billion in 2026 to $69 billion in 2030.
Management expects new revenue categories to account for about 20% of total revenue by 2030. It also expects annual recurring revenue to grow at more than 20% annually over the next three years and remaining performance obligations to increase by more than 25%.
Robbiati said Everpure expects to maintain investment in R&D and sales capacity while using operating leverage to expand profitability. The company plans to prioritize internal investment, balance-sheet strength, disciplined tuck-in acquisitions and share repurchases after funding those priorities.
About Everpure (NYSE:P)
Everpure is a water-treatment and filtration brand owned by Pentair plc, rather than a separately listed company trading under the NYSE symbol P. The brand provides filtration and water-conditioning solutions for residential, commercial, foodservice, and beverage applications.
Its product portfolio includes water filters, cartridges, heads, manifolds, reverse-osmosis systems, scale-reduction products, and related treatment equipment. Everpure systems are used to improve water quality and help protect equipment in applications such as drinking-water dispensers, coffee and tea equipment, ice machines, restaurants, and other foodservice operations.
Everpure was established in 1933 and serves customers through Pentair’s global water-solutions business.
