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NetApp 8-K Report, Financial Results (Feb 26, 2026)

Reports
Earnings & Results·Exhibits & Filings
Filing Date
Filed February 26, 2026
Period End
February 26, 2026
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 · Mar ’25Mar ’25

01—Abstract

Summary

Summary of the 8-K filed February 26, 2026. Cited figures are marked; the original filing is the authoritative source.

NetApp, Inc. (NASDAQ: NTAP) filed this Form 8-K on February 26, 2026 under Item 2.02 to furnish its press release reporting results for the third quarter of fiscal 2026, which ended January 23, 2026.

Net revenues were $1.71 billiona, up 4% year over year from $1.64 billion, with Hybrid Cloud segment revenue rising 5% to $1.54 billion and Public Cloud segment revenue flat at $174 million. GAAP net income was $334 million and GAAP diluted EPS was $1.67, compared with $1.44 a year earlier. On a non-GAAP basis, net income was $423 million and diluted EPS was $2.12, up 11% from $1.91.

Billings grew 10% to $1.89 billionb, the ninth consecutive quarter of year-over-year growth. Management cited a record quarter for all-flash array revenue of $1.0 billion, up 11% year over year. Cash provided by operations was $317 million, down 18% from $385 million, and free cash flow was $271 million versus $338 million a year earlier.

The company returned $303 millionc to stockholders through share repurchases and cash dividends during the quarter. At January 23, 2026, cash, cash equivalents and investments totaled $3.01 billion against long-term debt of $2.49 billion. Constant-currency figures showed net revenues up 2% and billings up 8%, and foreign exchange added approximately $0.11 to both GAAP and non-GAAP EPS.

For the fourth quarter of fiscal 2026, NetApp guided net revenues of $1.795 billion to $1.945 billiond, GAAP EPS of $1.76 to $1.86, and non-GAAP EPS of $2.21 to $2.31. Full-year fiscal 2026 guidance calls for net revenues of $6.772 billion to $6.922 billion, GAAP EPS of $6.07 to $6.17, and non-GAAP EPS of $7.92 to $8.02. The company also declared a next quarterly cash dividend of $0.52 per share, payable April 22, 2026.

02—Key points

Key Highlights

  1. Third-quarter net revenues of $1.71 billion rose 4% year over year, with Hybrid Cloud up 5% and Public Cloud flat at $174 million.
  2. Record third-quarter non-GAAP operating income of $533 million and a non-GAAP operating margin of 31.1%, compared with GAAP operating income of $434 million and a GAAP operating margin of 25.3%.
  3. All-flash array revenue reached a record $1.0 billion, up 11% year over year, for an annualized net revenue run rate of $4.2 billion.
  4. Billings of $1.89 billion grew 10% year over year, the ninth consecutive quarter of year-over-year billings growth.
  5. Cash flow weakened, with operating cash flow of $317 million (down 18%) and free cash flow of $271 million versus $338 million a year earlier.
  6. Fourth-quarter fiscal 2026 guidance projects net revenues of $1.795 billion to $1.945 billion and non-GAAP EPS of $2.21 to $2.31.
  7. Full-year fiscal 2026 guidance projects net revenues of $6.772 billion to $6.922 billion and non-GAAP EPS of $7.92 to $8.02.

03—Questions

Frequently Asked Questions

  1. How did NetApp perform in the third quarter of fiscal 2026?

    Net revenues were $1.71 billion, up 4% year over year. GAAP net income was $334 million and GAAP diluted EPS was $1.67, versus $1.44 a year earlier. Non-GAAP net income was $423 million and non-GAAP diluted EPS was $2.12, up 11% from $1.91.

  2. What drove the revenue and billings results?

    The company cited a record quarter for all-flash array revenue of $1.0 billion, up 11% year over year, and strong performance in first-party and marketplace cloud storage services. Public Cloud revenue was $174 million, flat year over year. Billings rose 10% to $1.89 billion. In constant currency, net revenues rose 2% and billings rose 8%.

  3. How much did NetApp return to shareholders and what is its cash position?

    NetApp returned $303 million to stockholders through share repurchases and cash dividends in the quarter. As of January 23, 2026, cash, cash equivalents and investments totaled $3.01 billion, and long-term debt was $2.49 billion. The next quarterly dividend is $0.52 per share, payable April 22, 2026.

  4. What is the company's outlook?

    For the fourth quarter of fiscal 2026, NetApp expects net revenues of $1.795 billion to $1.945 billion and GAAP EPS of $1.76 to $1.86. For full fiscal 2026, it expects net revenues of $6.772 billion to $6.922 billion and GAAP EPS of $6.07 to $6.17, with non-GAAP EPS of $7.92 to $8.02.

  5. Why did operating cash flow decline, and how do GAAP and non-GAAP results differ?

    Net cash provided by operating activities was $317 million, down from $385 million, and free cash flow was $271 million versus $338 million. The filing does not attribute the decline to a specific cause. Non-GAAP measures exclude items such as amortization of intangible assets, stock-based compensation, restructuring charges and gains or losses on asset sales; stock-based compensation of $97 million was the largest adjustment in the quarter.

04—Continue

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