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NetApp 8-K Report, Financial Results (Aug 27, 2025)

Reports
Earnings & Results·Exhibits & Filings
Filing Date
Filed August 27, 2025
Period End
August 27, 2025
Security
NTAP
In the record · 2016–202610-K1110-Q328-K97

NTAP filed 11 annual reports (10-K), 32 quarterly reports (10-Q) and 97 current reports (8-K) between 2016 and 2026.

  1. Material agreement8-K · Sep ’17Sep ’17
  2. Leadership change8-K · Feb ’21Feb ’21
  3. Restructuring8-K · Jan ’23Jan ’23
  4. Leadership change8-K · Sep ’24Sep ’24

01—Abstract

Summary

Summary of the 8-K filed August 27, 2025. Cited figures are marked; the original filing is the authoritative source.

NetApp, Inc. (NASDAQ: NTAP) furnished a press release under Item 2.02 reporting financial results for its first quarter of fiscal year 2026, which ended July 25, 2025.

Net revenues were $1.559 billiona, up 1% from $1.541 billion a year earlier, while GAAP net income fell to $233 million from $248 million and GAAP diluted EPS was $1.15 versus $1.17. Non-GAAP net income was $314 million and non-GAAP EPS was $1.55, compared with $1.56 a year earlier. Billings were $1.511 billion, up 4%, and cash provided by operations rose to $673 million from $341 million, producing free cash flow of $620 million.

The company reported GAAP operating profit of $309 millionb and non-GAAP operating profit of $401 million. Management guided to second-quarter fiscal 2026 net revenues of $1.615 billion to $1.765 billion, with GAAP diluted EPS of $1.35 to $1.45 and non-GAAP EPS of $1.84 to $1.94. For full fiscal 2026, the company guided to net revenues of $6.625 billion to $6.875 billion, GAAP EPS of $5.72 to $6.02, and non-GAAP EPS of $7.60 to $7.90.

In constant currency, net revenues were flat and billings rose 3% year over year. The company also returned $404 millionc to stockholders through share repurchases and dividends and declared a next cash dividend of $0.52 per share, payable October 22, 2025.

On the balance sheet, cash, cash equivalents and investments fell to $3.324 billiond from $3.846 billion, and current portion of long-term debt of $750 million was repaid during the quarter, reducing total liabilities to $8.704 billion from $9.783 billion. The filing highlights NetApp's claim of the #1 all-flash storage market share position for calendar Q1 2025 per IDC, with all-flash array revenue up 6% to $893 million and Public Cloud segment revenue up 1% to $161 million, though first-party and marketplace Public Cloud storage services revenue grew 33%.

02—Key points

Key Highlights

  1. Net revenues of $1.559 billion, up 1% year over year, with Hybrid Cloud segment revenue of $1.398 billion and Public Cloud segment revenue of $161 million.
  2. GAAP net income of $233 million (EPS $1.15) versus $248 million (EPS $1.17) a year earlier; non-GAAP net income of $314 million (EPS $1.55) versus $330 million (EPS $1.56).
  3. Billings of $1.511 billion, up 4% year over year and the seventh consecutive quarter of year-over-year growth; cash provided by operations of $673 million and free cash flow of $620 million, both records for a first quarter.
  4. Q2 FY2026 guidance: net revenues of $1.615 billion to $1.765 billion, GAAP EPS of $1.35 to $1.45, and non-GAAP EPS of $1.84 to $1.94.
  5. Full-year FY2026 guidance: net revenues of $6.625 billion to $6.875 billion, GAAP EPS of $5.72 to $6.02, and non-GAAP EPS of $7.60 to $7.90.
  6. Capital returns of $404 million in the quarter through share repurchases and cash dividends, with repurchases of $300 million and dividends paid of $104 million; $750 million of debt was repaid.
  7. All-flash array revenue grew 6% year over year to $893 million, and first-party and marketplace Public Cloud storage services revenue grew 33%.

03—Questions

Frequently Asked Questions

  1. How did NetApp perform in its first quarter of fiscal 2026?

    Net revenues rose 1% to $1.559 billion and billings grew 4% to $1.511 billion. GAAP net income declined to $233 million from $248 million, while operating cash flow increased to $673 million from $341 million.

  2. What is the company's outlook for fiscal 2026?

    For the second quarter, NetApp expects net revenues of $1.615 billion to $1.765 billion and GAAP EPS of $1.35 to $1.45. For the full year, it expects net revenues of $6.625 billion to $6.875 billion and GAAP EPS of $5.72 to $6.02.

  3. How much of the quarter's results reflect currency effects?

    The company stated that in constant currency, net revenues were flat and billings increased 3% year over year. Foreign currency changes contributed a favorable impact of approximately $10 million to net income and approximately $0.05 to EPS in each of the GAAP and non-GAAP comparisons.

  4. What did NetApp return to shareholders and what is its next dividend?

    NetApp returned $404 million through share repurchases and cash dividends in the quarter. Its next cash dividend is $0.52 per share, payable October 22, 2025, to stockholders of record as of October 3, 2025.

  5. How did the balance sheet change during the quarter?

    Cash, cash equivalents and investments declined to $3.324 billion from $3.846 billion, and the $750 million current portion of long-term debt was repaid, leaving long-term debt at $2.485 billion. Total stockholders' equity fell to $975 million from $1.040 billion.

04—Continue

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