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NetApp 8-K Report, Financial Results (Sep 2, 2026)

Reports
Earnings & Results·Exhibits & Filings
Filing Date
Filed September 2, 2026
Period End
September 2, 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. Restructuring8-K · Feb ’16Feb ’16
  2. Material agreement8-K · Sep ’17Sep ’17
  3. Leadership change8-K · Sep ’21Sep ’21
  4. Leadership change8-K · Sep ’25Sep ’25

01—Abstract

Summary

Summary of the 8-K filed September 2, 2026. Cited figures are marked; the original filing is the authoritative source.

NetApp, Inc. (NTAP) furnished a press release under Item 2.02 reporting results for the first quarter of fiscal year 2027, which ended July 31, 2026.

Net revenues were $2.03 billiona, up 30% year-over-year, with record all-flash array net revenue of $1.3 billion (up 47%) and Public Cloud net revenue of $206 million (up 28%). GAAP net income was $375 million, or $1.88 per diluted share (up 63%), and non-GAAP earnings per share were a record $2.58. Billings were $2.06 billion, up 36%.

GAAP operating margin was 23.9% and non-GAAP operating margin was 31.9%. The company raised its full fiscal year 2027 guidance, now calling for net revenues of $7.975 billion to $8.225 billionb, GAAP earnings per share of $7.35 to $7.65, and non-GAAP earnings per share of $9.73 to $10.03. For the second quarter, it guided to net revenues of $2.025 billion to $2.175 billion and non-GAAP earnings per share of $2.54 to $2.64.

Cash flow was weaker than earnings: operating cash flow was $503 millionc, down 25%, and free cash flow was $401 million, down 35%. Restructuring charges were $56 million in the quarter, compared with $2 million a year earlier.

The company also announced the acquisition of DataPelago, Inc., an AI data infrastructure company, and reported an $0.52d per share dividend payable October 28, 2026. Balance sheet data show cash, cash equivalents and investments of $3.58 billion and total debt of $2.49 billion ($550 million current plus $1.94 billion long-term) as of July 31, 2026.

02—Key points

Key Highlights

  1. Net revenues of $2,025 million rose 30% year-over-year, with Hybrid Cloud segment revenues of $1,819 million (up 30%) and Public Cloud segment revenues of $206 million (up 28%).
  2. GAAP diluted EPS was $1.88 (up 63%); non-GAAP diluted EPS was a record $2.58 (up 66%).
  3. Billings were $2,057 million, up 36%, and all-flash revenues were $1,309 million versus $893 million a year earlier.
  4. Full fiscal 2027 guidance was raised: net revenues of $7.975 billion to $8.225 billion and non-GAAP EPS of $9.73 to $10.03.
  5. Operating cash flow fell to $503 million (down 25%) and free cash flow fell to $401 million (down 35%) from $620 million.
  6. Restructuring charges rose to $56 million from $2 million, and the company announced the DataPelago, Inc. acquisition, which used $78 million of cash net of cash acquired.
  7. Stockholders' equity increased to $1,495 million from $1,351 million, and total debt declined to $2,488 million from $2,487 million plus $0 current portion at April 24, 2026, as $550 million was reclassified to current.

03—Questions

Frequently Asked Questions

  1. How did NetApp perform in the first quarter of fiscal 2027?

    Net revenues were $2.03 billion, up 30% year-over-year, and billings were $2.06 billion, up 36%. GAAP net income was $375 million, or $1.88 per diluted share, compared with $233 million, or $1.15 per share, a year earlier. The company described the quarter as its strongest first quarter ever.

  2. What is NetApp's updated outlook for fiscal 2027?

    The company raised full-year guidance to net revenues of $7.975 billion to $8.225 billion, GAAP gross margin of 67.1% to 68.1%, GAAP operating margin of 24.3% to 25.3%, and GAAP EPS of $7.35 to $7.65. Non-GAAP EPS guidance is $9.73 to $10.03.

  3. What is the second-quarter guidance?

    Second-quarter net revenues are expected to be between $2.025 billion and $2.175 billion. GAAP EPS is guided to $1.97 to $2.07, and non-GAAP EPS to $2.54 to $2.64.

  4. Why did free cash flow decline despite higher earnings?

    Operating cash flow was $503 million versus $673 million a year earlier, and purchases of property and equipment rose to $102 million from $53 million. Free cash flow was $401 million, down 35%. The filing shows working capital changes, including a $176 million inventory build and an $111 million reduction in other operating assets and liabilities, but does not state a specific cause for the decline.

  5. What corporate actions were announced alongside the results?

    NetApp announced its acquisition of DataPelago, Inc., an AI data infrastructure company, and a next cash dividend of $0.52 per share payable October 28, 2026, to holders of record on October 9, 2026. The company also appointed Alvaro Celis as Chief Partner and Ecosystem Officer.

04—Continue

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