NetApp (NTAP) Company Report

Revenue of $1.71 B (+2.8% y/y) and billings of $1.65 B (+3.8% y/y)
Non-GAAP gross margin at 72.6% (+60 bps y/y) and operating margin at 31.1% (+250 bps y/y)
Non-GAAP EPS of $2.05 (+10.0% y/y) and free cash flow margin of 4.6%, with $353 M in capital returns
First-party and marketplace cloud storage services revenue grew approximately 32% y/y
Q3 FY26 guidance: revenue $1.615 B–$1.765 B, EPS $2.01–$2.11; FY26 guidance: revenue $6.625 B–$6.875 B, EPS $7.75–$8.05

4 days ago

Presentation

NetApp reports Q2 FY2026 results

NTAP

Earnings

Guidance Update

Product Launch

Revenue of $1.71 billion in Q2, up 3% YoY (4% ex-Spot), with 70% mix in all-flash and public cloud driving growth.
Non-GAAP EPS of $2.05, up 10% YoY; gross margin at a record 72.6% and operating margin at 31.1%—both all-time highs.
Launched AFX disaggregated storage platform and AI Data Engine (AIDE) to accelerate enterprise AI data pipelines.
Q3 revenue guidance of $1.69 billion ± $75 million (3% YoY growth) and FY26 raised to 71.7–72.7% gross margin, 29.5–30.5% operating margin, and $7.75–$8.05 EPS.
Returned $353 million to shareholders ( $250 million share repurchases, $103 million dividends); ended Q2 with $3 billion cash vs. $2.5 billion debt (net cash ~$528 million).

4 days ago

Transcript

NetApp reports Q2 2026 earnings

NTAP

Earnings

Product Launch

Guidance Update

Revenue of $1.71 billion (+3% y/y; +4% ex-Spot) and non-GAAP EPS of $2.05 (+10% y/y)
All-flash array revenue grew 9% y/y to $1 billion (annualized run rate $4.1 billion); first-party and marketplace cloud storage services revenue up ~32% y/y
Launched AFX, an ultra-scalable storage platform for AI workloads, and AIDE, an AI data service integrated into ONTAP to simplify data pipelines
Returned $353 million to shareholders in Q2, including $250 million in share repurchases and $103 million in dividends ($0.52/share)
Q3 revenue guidance of $1.69 billion ± $75 million (midpoint +3% y/y) and FY 2026 revenue guidance of $6.625–6.875 billion (EPS $7.75–$8.05)

4 days ago

Transcript

NetApp announces Q2 2026 results

NTAP

Earnings

Guidance Update

Product Launch

NetApp reported Q2 revenue of $1.71 billion, up 3% year-over-year (4% ex-Spot), with record gross margins driven by a shift to all-flash and public-cloud offerings.
Operating income reached $530 million, delivering an operating margin of 31.1% (up 2.4 pp) and EPS of $2.05, a 10% increase year-over-year.
The company closed ~200 AI infrastructure and data-lake modernization deals in the quarter and launched two AI-focused products—AFX storage platform and the AIDE data engine—to accelerate enterprise AI adoption.
For Q3, NetApp guides revenue of $1.69 billion ± $75 million (≈3% growth) and gross margin of 72.3%–73.3%; full-year 2026 revenue is expected at $6.625–$6.875 billion, with EPS of $7.75–$8.05.

4 days ago

Transcript

NetApp reports Q2 FY26 results

NTAP

Earnings

Guidance Update

Share Buyback

NetApp reported net revenues of $1.705 billion, up 3% year-over-year for Q2 FY26.
Q2 FY26 GAAP EPS of $1.51 and record non-GAAP EPS of $2.05.
Achieved record Q2 GAAP operating margin of 23.4% and non-GAAP operating margin of 31.1%.
Returned $353 million to shareholders via share repurchases and dividends in the quarter.
Provided Q3 FY26 net revenue guidance of $1.615 billion–$1.765 billion and full-year FY26 guidance of $6.625 billion–$6.875 billion.

4 days ago

8-K

Upwind launches dynamic Exposure Validation Engine

NTAP

Product Launch

Revenue Acceleration/Inflection

Upwind launched the first-of-its-kind dynamic CSPM Exposure Validation Engine, integrating AI-based configuration analysis with real-time external reachability testing.
The new engine delivers a 90% reduction in false positives and, in initial testing, uncovered tens of terabytes of live cloud exposures previously undetected.
Upwind reported 4,000% revenue growth between 2024 and 2025 and expanded its customer base to over 200 enterprises, including Peloton, Bill, Fiverr, and Agoda.
The company was named to the 2026 Fortune × Lightspeed Cyber 60 List and recognized in multiple 2025 Gartner and Forrester CNAPP reports.

Oct 30, 2025, 1:00 PM

Press Release

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.

Oct 17, 2025, 4:27 PM

Press Release

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.

Oct 17, 2025, 8:44 AM

Press Release

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.

Oct 17, 2025, 7:57 AM

Press Release

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.

Oct 16, 2025, 9:22 PM

Press Release

Earnings Transcripts

Quarterly earnings call transcripts for NetApp.