Pure Storage (NYSE:PSTG) delivered better-than-expected fourth-quarter results, but its stock tumbled more than 10% intra-day today as its full-year revenue forecast fell short of market expectations.

The enterprise data storage provider posted adjusted earnings per share of $0.45, surpassing analyst expectations of $0.41. Quarterly revenue climbed 11% year-over-year to $879.8 million, beating the projected $868.53 million.

For the full fiscal year 2025, Pure Storage achieved a milestone, generating $3.2 billion in revenue, marking a 12% YoY increase and surpassing the $3 billion mark for the first time.

However, its fiscal 2026 outlook failed to impress Wall Street. The company forecasts full-year revenue of $3.515 billion, just shy of the $3.52 billion consensus estimate.

Despite the market reaction, Pure Storage’s subscription services business continued its strong momentum, with fourth-quarter revenue rising 17% YoY to $385.1 million and full-year subscription revenue climbing 22% to $1.5 billion.

For the first quarter of fiscal 2026, the company expects revenue of $770 million, slightly ahead of analysts’ forecast of $768.29 million.