Sign in

NetApp (NTAP)

No business description found.

You might also like

NamePositionExternal RolesShort Bio

George Kurian

ExecutiveBoard

Chief Executive Officer and Director

Board Member at Cigna Corporation

George Kurian has been CEO since June 1, 2015, leading NetApp's strategic direction and growth. He joined NetApp in April 2011 and has held various leadership roles.

View Report →

C\u00e9sar Cernuda

Executive

President

Non-Executive Director at Gestamp, Advisory Board Member at Georgetown University and IESE Business School

C\u00e9sar Cernuda joined NetApp in July 2020, leading global go-to-market strategies. He previously held leadership roles at Microsoft.

Elizabeth M. O'Callahan

Executive

Executive Vice President, Chief Legal Officer, and Corporate Secretary

None

Elizabeth M. O'Callahan has been with NetApp since 2013, serving as Chief Legal Officer since January 2022.

Harvinder S. Bhela

Executive

Executive Vice President and Chief Product Officer

None

Harvinder S. Bhela joined NetApp in January 2022, leading product and engineering teams. He previously spent 25 years at Microsoft.

Michael J. Berry

Executive

Executive Vice President and Chief Financial Officer

Board Member at Rapid7, Inc. and Certinia

Michael J. Berry has been CFO since March 2020, overseeing finance and IT. He plans to transition out by May 2025.

Wissam Jabre

Executive

Executive Vice President and Chief Financial Officer

Board Member at MKS Instruments, Inc.

Wissam Jabre joined NetApp as CFO in March 2025, with a strong track record in finance leadership roles at Western Digital and Dialog Semiconductor.

Anders Gustafsson

Board

Director

Chair of the Board at Zebra Technologies, Director at International Paper Company

Anders Gustafsson joined NetApp's board in November 2023, with a background in leading business transformations at Zebra Technologies and Spirent Communications.

Carrie Palin

Board

Director

SVP and CMO at Cisco Systems, Board Member at EnterpriseDB

Carrie Palin joined NetApp's board in 2021, with over 20 years of experience in marketing leadership roles at major tech companies.

Deborah L. Kerr

Board

Director

Managing Director at Warburg Pincus, Board Member at Vodafone Group, Chico's FAS, defi Solutions, TRC, Certified Group

Deborah L. Kerr has been a director since 2017, with expertise in cloud and digital transformation.

Deepak Ahuja

Board

Independent Director

Chief Business and Financial Officer at Zipline

Deepak Ahuja joined NetApp's board in 2020, bringing extensive financial leadership experience from Tesla and other companies.

Gerald Held

Board

Director

Board Member at Informatica Corporation and Copia Global Inc.

Gerald Held has been a director since 2009, contributing his extensive experience in technology and strategic consulting.

June Yang

Board

Director

Board Member at UiPath, Inc.

June Yang joined NetApp's board in 2024, bringing expertise in AI and cloud technologies from her roles at Google Cloud and VMware.

Scott F. Schenkel

Board

Director

Board Member at Pinterest, Inc.

Scott F. Schenkel has been a director since 2017, with a strong background in finance and leadership roles at eBay and General Electric.

T. Michael Nevens

Board

Chair of the Board

Board Member at Ciena Corporation, Emeritus Senior Advisor at Permira Funds

T. Michael Nevens has been a director since 2009 and Chair of the Board since 2015, providing governance and strategic insights.

  1. Operating cash flow decreased 25% year-over-year in Q1 due to higher incentive compensation payouts and payments for strategic SSD purchases; how do you plan to manage cash flow going forward to ensure sufficient liquidity while maintaining these investments?

  2. Despite a strong revenue performance, free cash flow declined 28% year-over-year, yet you returned $507 million to shareholders through share repurchases and dividends; is this level of shareholder returns sustainable given the decrease in free cash flow?

  3. You aim to achieve public cloud gross margins of 75%-80%, but haven't disclosed current margin levels; what are your current public cloud gross margins, and what challenges do you anticipate in reaching your long-term targets?

  4. With the CFO announcing his retirement amid an uncertain macroeconomic environment, how are you ensuring that this leadership transition won't disrupt your strategic plans and operational execution?

  5. Given that flash storage constitutes only about 40% of your installed base while hard drives still dominate, what strategies are you employing to accelerate the migration to flash, and how do you address potential customer hesitation due to economic uncertainties?

Research analysts who have asked questions during NetApp earnings calls.

Ananda Baruah

Loop Capital Markets LLC

8 questions for NTAP

Also covers: BURU, CRUS, DDD +14 more

David Vogt

UBS Group AG

7 questions for NTAP

Also covers: AAPL, ANET, CDW +12 more

Mehdi Hosseini

Susquehanna Financial Group

7 questions for NTAP

Also covers: AEIS, AMAT, ASML +17 more

Samik Chatterjee

JPMorgan Chase & Co.

7 questions for NTAP

Also covers: AAPL, ANET, APH +31 more

Simon Leopold

Raymond James

7 questions for NTAP

Also covers: AAOI, ANET, ATEN +17 more

Wamsi Mohan

Bank of America Merrill Lynch

7 questions for NTAP

Also covers: AAPL, APH, AVT +13 more

Steven Fox

Fox Research

6 questions for NTAP

Also covers: AMKR, APH, BDC +22 more

Tim Long

Barclays

6 questions for NTAP

Also covers: FFIV, GRMN, HPE +5 more

Jason Ader

William Blair & Company

5 questions for NTAP

Also covers: AVPT, BASE, BLZE +12 more

Krish Sankar

TD Cowen

5 questions for NTAP

Also covers: AAPL, AEIS, AMAT +18 more

Louis Miscioscia

Daiwa Capital Markets America Inc.

5 questions for NTAP

Ari Terjanian

Cleveland Research Company

4 questions for NTAP

Also covers: PSTG

Asiya Merchant

Citigroup Global Markets Inc.

4 questions for NTAP

Also covers: APH, CDW, CRCT +12 more

Meta Marshall

Morgan Stanley

4 questions for NTAP

Also covers: ANET, AXON, BAND +21 more

Nehal Chokshi

Northland Capital Markets

4 questions for NTAP

Also covers: AGYS, ALLT, AVPT +12 more

Amit Daryanani

Evercore

3 questions for NTAP

Also covers: AAPL, AKAM, ANET +20 more

Michael Cadiz

Citigroup

3 questions for NTAP

Also covers: CRCT, PSTG

Param Singh

Oppenheimer & Co. Inc.

3 questions for NTAP

Also covers: RBRK

Aaron Rakers

Wells Fargo

2 questions for NTAP

Also covers: AAPL, AMD, ANET +19 more

Erik Woodring

Morgan Stanley

2 questions for NTAP

Also covers: AAPL, CDW, CRCT +18 more

Paramveer Singh

Oppenheimer & Co. Inc.

2 questions for NTAP

Also covers: CVLT, FSLY, NTNX +2 more

Sreekrishnan Sankarnarayanan

Wolfe Research, LLC

2 questions for NTAP

Also covers: AAPL, AEIS, AMAT +21 more

Elizabeth Elliott

Morgan Stanley

1 question for NTAP

Also covers: ADSK, AMPL, CXM +8 more

Jake Wilhelm

Wells Fargo Securities, LLC

1 question for NTAP

Also covers: NVDA

Joseph Cardoso

JPMorgan Chase & Co.

1 question for NTAP

Also covers: AXON, CALX, CIEN +8 more

Ruplu Bhattacharya

Bank of America

1 question for NTAP

Also covers: ARW, AVT, CDW +12 more

Timothy Long

Barclays

1 question for NTAP

Also covers: ANET, CIEN, DELL +6 more

Victor Chiu

Raymond James

1 question for NTAP

Also covers: ATEN, BLZE, CMBM +2 more
Program DetailsProgram 1
Approval DateMay 13, 2003
End Date/DurationN/A
Total Additional Amount$1.0 billion
Remaining Authorization$0.8 billion
DetailsThe program may be suspended or discontinued at any time.
YearAmount Due (in millions)Debt TypeInterest Rate (%)% of Total Debt
20257501.875% Senior Notes1.87537.5% = (750 / 2000) * 100
20275502.375% Senior Notes2.37527.5% = (550 / 2000) * 100
20307002.70% Senior Notes2.7035.0% = (700 / 2000) * 100
CustomerRelationshipSegmentDetails

Arrow Electronics, Inc.

Major distributor

All

21% of FY25 revenue ($1,380 million) , 10% of A/R as of Apr 25, 2025 ($125 million)

TD Synnex Corporation

Major distributor

All

24% of FY25 revenue ($1,577 million) , 27% of A/R as of Apr 25, 2025 ($336 million)

NameStart DateEnd DateReason for Change
Deloitte & Touche LLP1995 PresentCurrent auditor

Notable M&A activity and strategic investments in the past 3 years.

CompanyYearDetails

Instaclustr US Holding, Inc.

2022

Acquisition valued at approximately $498M with a structured allocation (cash, intangible assets, goodwill, and other assets/liabilities); it was undertaken to expand NetApp’s cloud offerings and managed services capabilities.

CloudCheckr

2022

Acquisition valued at approximately $347M in cash with allocations including intangible assets, goodwill, and other assets/liabilities; it aims to deliver a cloud optimization platform that enhances cost efficiency, security, and compliance, driving incremental revenue.

Fylamynt

2022

Acquisition priced at approximately $27M (with $22M at closing and a $5M indemnity holdback, of which $4M is expected within 12 months) to acquire cloud automation technology that integrates with the Spot platform and strengthens cloud operations.

Recent press releases and 8-K filings for NTAP.

NetApp launches enterprise-grade AI data platform
·$NTAP
Product Launch
  • NetApp unveiled a comprehensive enterprise AI data platform featuring NetApp AFX and AI Data Engine, aimed at accelerating retrieval-augmented generation (RAG) and AI inference in hybrid and multi-cloud environments.
  • NetApp AFX is a disaggregated all-flash storage system powered by ONTAP, offering linear performance scaling up to 128 nodes, exabyte-scale capacity, and independent performance and capacity growth.
  • NetApp AI Data Engine integrates the NVIDIA AI Data Platform reference design to automate data ingestion, preparation, semantic search and governance, ensuring secure, up-to-date data for GenAI applications.
  • The update also introduces an object API for direct access to Azure NetApp Files with Azure Data & AI services and a unified international namespace in Azure for seamless global data management.
17 hours ago
NetApp launches enterprise-grade AI data platform
·$NTAP
Product Launch
  • NetApp introduced NetApp AFX, a disaggregated all-flash storage system certified for NVIDIA DGX SuperPOD with scalable performance up to 128 nodes and exabyte capacity for demanding AI workloads.
  • The company unveiled NetApp AI Data Engine (AIDE), an integrated service built on NVIDIA AI Data Platform that automates data ingestion, preparation and governance across hybrid environments.
  • A new object API for Azure NetApp Files lets customers access ANF datasets directly via REST without moving data, enabling seamless integration with Azure services like OpenAI, Databricks and Synapse.
  • Enhanced global namespace with FlexCache in Azure NetApp Files provides unified visibility and instant edit access to on-premises and multi-cloud ONTAP data, supporting hybrid use cases such as automated design workflows and disaster recovery.
1 day ago
NetApp unveils enterprise-grade AI data platform
·$NTAP
Product Launch
  • NetApp introduced its AI Data Platform, featuring the disaggregated All-Flash NetApp AFX system and the NetApp AI Data Engine built on NVIDIA’s AI Data Platform Reference Design to support large-scale, secure AI workloads.
  • NetApp AFX offers linear scalability up to 128 nodes, terabytes-per-second throughput and exabyte capacity with independent performance and capacity scaling, available via purchase or the Keystone STaaS subscription model.
  • NetApp AI Data Engine delivers a unified, global view of customer data across on-premises and cloud environments, automates data change detection and synchronization, and integrates policies for security, governance, semantic search and vectorization.
  • New Azure-focused capabilities include an Object REST API for direct access to Azure NetApp Files datasets and enhanced FlexCache functionality to unify global namespaces across on-premises and Azure environments.
1 day ago
NetApp unveils enterprise-grade data platform for AI
·$NTAP
Product Launch
  • NetApp introduced a unified, enterprise-grade data platform for AI, combining the new disaggregated NetApp AFX storage system with the NetApp AI Data Engine co-developed with NVIDIA to streamline and secure mission-critical AI workloads.
  • NetApp AFX offers linear performance scaling up to 128 nodes, 128 TB/s bandwidth and exabyte-scale capacity, with independent performance and capacity expansion for demanding AI environments.
  • NetApp AI Data Engine delivers end-to-end AI data services—from ingestion and semantic search to governance—with NVIDIA-accelerated compute, automated data synchronization and built-in security controls.
1 day ago
NetApp unveils enterprise-grade AI data platform
·$NTAP
Product Launch
  • NetApp unveiled a comprehensive enterprise-grade AI data platform to support the shift from pilot projects to mission-critical AI applications.
  • The new NetApp AFX system offers exabyte-scale, disaggregated storage powered by ONTAP on the AFX 1K hardware.
  • NetApp AI Data Engine extends ONTAP with a secure, unified pipeline integrated with NVIDIA’s AI Data Platform, all managed via a single control plane.
1 day ago
NetApp collaborates with Cisco on enterprise-class converged AI infrastructure
·$NTAP
Product Launch
New Projects/Investments
  • NetApp and Cisco integrate NetApp AFX with Cisco Nexus 400G switches to deliver converged, disaggregated storage infrastructure optimized for AI workloads at enterprise scale
  • The partnership will soon extend to FlexPod AI, combining NetApp AFX, Cisco UCS, and Cisco Nexus with centralized management via Cisco Intersight for hybrid-cloud and AI environments
  • This solution leverages disaggregated NetApp ONTAP storage and high-bandwidth, low-latency networking to meet performance and reliability requirements for modern AI networks
  • The collaboration continues a 20+-year alliance between NetApp and Cisco, aiming to set new standards for performance, scalability, and simplicity in enterprise AI infrastructure
1 day ago
NetApp collaborates with Cisco on enterprise AI infrastructure
·$NTAP
Product Launch
New Projects/Investments
  • NetApp and Cisco integrate NetApp AFX with Cisco Nexus 400G switches to deliver converged, disaggregated storage and high-performance networking for AI workloads.
  • The solution offers ultra-high bandwidth, low latency, and lossless connectivity essential for scaling enterprise AI applications.
  • This collaboration will expand to FlexPod AI, unifying NetApp AFX, Cisco UCS, and Nexus under Cisco Intersight for simplified hybrid cloud and AI management.
  • NetApp positions the joint architecture as a unified enterprise data platform that enhances performance, scalability, and ease of use for AI-driven infrastructures.
1 day ago
NetApp and Cisco unveil converged AI storage infrastructure
·$NTAP
Product Launch
New Projects/Investments
  • NetApp AFX is now integrated with Cisco Nexus switches to provide enterprise-grade intra-cluster connectivity for AI workloads.
  • The partnership builds on over 20 years of joint development and will soon expand to FlexPod AI.
  • AFX leverages a disaggregated version of NetApp ONTAP, trusted by tens of thousands of companies to manage exabytes of data.
1 day ago
NetApp announces converged AI infrastructure partnership with Cisco
·$NTAP
Product Launch
New Projects/Investments
  • NetApp and Cisco extend a 20-year collaboration to deliver enterprise-grade converged AI infrastructure combining NetApp AFX and Cisco Nexus for intra-cluster connectivity.
  • NetApp AFX leverages a disaggregated NetApp ONTAP storage OS trusted by tens of thousands of enterprises managing exabytes of data.
  • Integration will be expanded to FlexPod AI, providing a scalable foundation for enterprise-wide AI networks.
1 day ago
NetApp and Cisco launch enterprise-grade AI converged infrastructure
·$NTAP
Product Launch
  • NetApp has introduced NetApp AFX integrated with Cisco Nexus to deliver a decomposed storage architecture tailored for enterprise AI, extending rapidly to FlexPod AI solutions.
  • The solution leverages Cisco Nexus 400G switches to provide ultra-high bandwidth, low latency and lossless networking for demanding AI workloads.
  • Unified management via Cisco Intersight centralizes control of NetApp’s enterprise-grade storage, Cisco UCS compute and Nexus networking to streamline AI operations.
2 days ago