Everpure, Inc.

Q2 FY27 results strongly beat guidance; growth is broad-based - Revenue +38% YoY (continued “30+%” growth performance since Q4), exceeding the guidance range. - Operating profit +77% YoY to $230M; operating margin 19.4%. - Growth was not driven by one customer/product/region—strength across geographies, products, and segments; pipeline and momentum carried from Q1 into Q2.

Key “surprise/good” signal: demand remained resilient despite very high pricing - Management says pricing levels are at the highest seen in ~10 years; while customers transact for less capacity at higher prices, demand held up—especially among top-tier/large enterprise customers. - Management attributes Q2 strength to pricing + mix shift + capacity growth, offset by lower system unit volumes. - They emphasized elasticity: revenue can rise more than shipped capacity during price increases; volume should gradually improve if prices stabilize.

Storage-as-a-Service (Evergreen//One) is accelerating and is central to the outlook - Evergreen//One TCV accelerated to an annualized run rate > $1B for FY27. - Q2 Evergreen//One momentum: TCV +121% YoY to $277M (includes velocity deals and large enterprise agreements). - Storage-as-a-Service is increasingly attractive in the current environment due to consumption-based economics, lower upfront capex for customers, and management claims they were able to keep Evergreen//One price increases well below traditional product pricing.