NetApp, Inc. (NTAP) Q1 FY2027 Financial Statements: Revenue $2.02B, Net income $375.00M
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PeriodQ1 FY2027
Published
NetApp reported $2.02 billion in net revenue for Q1 FY2027, the quarter ended July 31, 2026, up 29.9% from a year earlier, in a quarter that included an extra week compared with the year-ago quarter. Product revenue was $987 million, up 50.9%, on higher all-flash system sales that NetApp says were supported by price increases it made before the quarter began. Net income was $375 million, or $1.88 per diluted share, compared with $233 million, or $1.15, a year earlier.
| Metric | Amount | vs. year ago |
|---|---|---|
| Revenue | $2,025,000,000 | up 29.9% |
| Net income | $375,000,000 | up 60.9% |
| Diluted EPS | $1.88 | up 63.5% |
| Product revenue | $987,000,000 | up 50.9% |
Figures link to the filing they came from. Wherever the SEC filing tags a number, that number is linked: click it and the filing opens at the exact line that prints it. Figures calculated here, such as margins, free cash flow and trailing-twelve-month totals, have no line in a filing to point to and are not linked.
About this file
| Ticker | NTAP |
|---|---|
| CIK | 0001002047 |
| Company | NetApp, Inc. |
| Business type | industrial |
| Schema template | standard (technology hardware, software and services): revenue split into product and services, cost of revenues, gross profit, operating expenses, operating income, net income, per-share earnings; cash, investments, debt, deferred revenue, assets, liabilities and equity; operating cash flow, capital expenditures, free cash flow, buybacks and dividends; Hybrid Cloud and Public Cloud segment revenue and gross profit |
| Reporting currency | USD |
| Converted to USD | no |
| Units | actual US dollars (not millions); share counts in actual shares; per-share amounts in US dollars |
NTAP annual income statement, balance sheet and cash flow
| FY2026 | FY2025 | FY2024 | |
|---|---|---|---|
| Period start | 2025-04-26 | 2024-04-27 | 2023-04-29 |
| Period end | 2026-04-24 | 2025-04-25 | 2024-04-26 |
| Period type | fiscal year | fiscal year | fiscal year |
| Weeks | 52 | 52 | 52 |
| Source accession | 10-K | 10-K | 10-K |
| Income statement | |||
| Product revenue | 3,194,000,000 | 3,040,000,000 | 2,849,000,000 |
| Services revenue | 3,731,000,000 | 3,532,000,000 | 3,419,000,000 |
| Net revenues | 6,925,000,000 | 6,572,000,000 | 6,268,000,000 |
| Cost of product | 1,401,000,000 | 1,284,000,000 | 1,137,000,000 |
| Cost of services | 625,000,000 | 675,000,000 | 698,000,000 |
| Total cost of revenues | 2,026,000,000 | 1,959,000,000 | 1,835,000,000 |
| Gross profit | 4,899,000,000 | 4,613,000,000 | 4,433,000,000 |
| Sales and marketing | 1,869,000,000 | 1,865,000,000 | 1,828,000,000 |
| Research and development | 991,000,000 | 1,012,000,000 | 1,029,000,000 |
| General and administrative | 344,000,000 | 311,000,000 | 308,000,000 |
| Restructuring charges | 21,000,000 | 83,000,000 | 44,000,000 |
| Total operating expenses | 3,225,000,000 | 3,276,000,000 | 3,219,000,000 |
| Operating income | 1,674,000,000 | 1,337,000,000 | 1,214,000,000 |
| Income before income taxes | 1,648,000,000 | 1,383,000,000 | 1,263,000,000 |
| Provision for income taxes | 372,000,000 | 197,000,000 | 277,000,000 |
| Net income | 1,276,000,000 | 1,186,000,000 | 986,000,000 |
| Basic EPS | 6.41 | 5.81 | 4.74 |
| Diluted EPS | 6.35 | 5.67 | 4.63 |
| Basic shares | 199,000,000 | 204,000,000 | 208,000,000 |
| Diluted shares | 201,000,000 | 209,000,000 | 213,000,000 |
| Acquisition related expense | 0 | 5,000,000 | 10,000,000 |
| Dividends declared per share | 2.08 | 2.08 | 2.00 |
| Other income expense net | -26,000,000 | 46,000,000 | 49,000,000 |
| Balance sheet | |||
| Cash and cash equivalents | 2,070,000,000 | 2,742,000,000 | |
| Short term investments | 1,514,000,000 | 1,104,000,000 | |
| Accounts receivable | 1,286,000,000 | 1,246,000,000 | |
| Inventories | 198,000,000 | 186,000,000 | |
| Total current assets | 5,776,000,000 | 5,851,000,000 | |
| Property and equipment net | 592,000,000 | 563,000,000 | |
| Goodwill | 2,772,000,000 | 2,723,000,000 | |
| Total assets | 10,744,000,000 | 10,823,000,000 | |
| Accounts payable | 550,000,000 | 511,000,000 | |
| Short term deferred revenue | 2,320,000,000 | 2,279,000,000 | |
| Total current liabilities | 4,021,000,000 | 4,662,000,000 | |
| Long term debt | 2,487,000,000 | 2,485,000,000 | |
| Long term deferred revenue | 2,525,000,000 | 2,257,000,000 | |
| Total liabilities | 9,393,000,000 | 9,783,000,000 | |
| Total equity | 1,351,000,000 | 1,040,000,000 | |
| Current portion of long term debt | 0 | 750,000,000 | |
| Total debt | 2,487,000,000 | 3,235,000,000 | |
| Shares outstanding | 196,000,000 | 201,000,000 | |
| Cash flow | |||
| Depreciation and amortization | 200,000,000 | 243,000,000 | 255,000,000 |
| Stock based compensation | 382,000,000 | 386,000,000 | 357,000,000 |
| Operating cash flow | 2,067,000,000 | 1,506,000,000 | 1,685,000,000 |
| Debt issuance net | 0 | 1,240,000,000 | 0 |
| Free cash flow | 1,869,000,000 | 1,338,000,000 | 1,530,000,000 |
| Capex | -198,000,000 | -168,000,000 | -155,000,000 |
| Investing cash flow | -595,000,000 | 147,000,000 | -735,000,000 |
| Share repurchases | -950,000,000 | -1,150,000,000 | -900,000,000 |
| Dividends paid | -413,000,000 | -424,000,000 | -416,000,000 |
| Financing cash flow | -2,147,000,000 | -828,000,000 | -1,344,000,000 |
| Debt repayments | -750,000,000 | -400,000,000 | 0 |
| Segments | |||
| Hybrid cloud | |||
| Net revenues | 6,237,000,000 | 5,907,000,000 | 5,657,000,000 |
| Segment gross profit | 4,363,000,000 | 4,171,000,000 | 4,088,000,000 |
| Public cloud | |||
| Net revenues | 688,000,000 | 665,000,000 | 611,000,000 |
| Segment gross profit | 575,000,000 | 500,000,000 | 408,000,000 |
NTAP quarterly income statement, balance sheet and cash flow
| Q1 FY2027 | Q1 FY2026 | |
|---|---|---|
| Fiscal quarter | 1 | 1 |
| Period start | 2026-04-25 | 2025-04-26 |
| Period end | 2026-07-31 | 2025-07-25 |
| Period type | three months (14-week quarter) | three months (13-week quarter) |
| Weeks | 14 | 13 |
| Source accession | 10-Q | 10-Q |
| Income statement | ||
| Product revenue | 987,000,000 | 654,000,000 |
| Services revenue | 1,038,000,000 | 905,000,000 |
| Net revenues | 2,025,000,000 | 1,559,000,000 |
| Cost of product | 450,000,000 | 302,000,000 |
| Cost of services | 156,000,000 | 159,000,000 |
| Total cost of revenues | 606,000,000 | 461,000,000 |
| Gross profit | 1,419,000,000 | 1,098,000,000 |
| Sales and marketing | 507,000,000 | 461,000,000 |
| Research and development | 274,000,000 | 242,000,000 |
| General and administrative | 98,000,000 | 84,000,000 |
| Restructuring charges | 56,000,000 | 2,000,000 |
| Total operating expenses | 935,000,000 | 789,000,000 |
| Operating income | 484,000,000 | 309,000,000 |
| Income before income taxes | 484,000,000 | 304,000,000 |
| Provision for income taxes | 109,000,000 | 71,000,000 |
| Net income | 375,000,000 | 233,000,000 |
| Basic EPS | 1.91 | 1.16 |
| Diluted EPS | 1.88 | 1.15 |
| Basic shares | 196,000,000 | 201,000,000 |
| Diluted shares | 200,000,000 | 203,000,000 |
| Other income expense net | 0 | -5,000,000 |
| Dividends declared per share | 0.52 | 0.52 |
| Balance sheet | ||
| Cash and cash equivalents | 1,573,000,000 | |
| Short term investments | 2,003,000,000 | |
| Accounts receivable | 966,000,000 | |
| Inventories | 375,000,000 | |
| Total current assets | 5,672,000,000 | |
| Property and equipment net | 663,000,000 | |
| Goodwill | 2,916,000,000 | |
| Total assets | 10,955,000,000 | |
| Accounts payable | 566,000,000 | |
| Current portion of long term debt | 550,000,000 | |
| Short term deferred revenue | 2,252,000,000 | |
| Total current liabilities | 4,568,000,000 | |
| Long term debt | 1,938,000,000 | |
| Long term deferred revenue | 2,594,000,000 | |
| Total liabilities | 9,460,000,000 | |
| Total equity | 1,495,000,000 | |
| Total debt | 2,488,000,000 | |
| Shares outstanding | 196,000,000 | |
| Cash flow | ||
| Depreciation and amortization | 33,000,000 | 51,000,000 |
| Stock based compensation | 98,000,000 | 83,000,000 |
| Operating cash flow | 503,000,000 | 673,000,000 |
| Debt repayments | 0 | -750,000,000 |
| Free cash flow | 401,000,000 | 620,000,000 |
| Capex | -102,000,000 | -53,000,000 |
| Investing cash flow | -674,000,000 | -181,000,000 |
| Share repurchases | -200,000,000 | -300,000,000 |
| Dividends paid | -102,000,000 | -104,000,000 |
| Financing cash flow | -319,000,000 | -1,157,000,000 |
| Acquisitions net of cash acquired | -78,000,000 | 0 |
| Segments | ||
| Hybrid cloud | ||
| Net revenues | 1,819,000,000 | 1,398,000,000 |
| Segment gross profit | 1,251,000,000 | 979,000,000 |
| Public cloud | ||
| Net revenues | 206,000,000 | 161,000,000 |
| Segment gross profit | 178,000,000 | 129,000,000 |
NTAP year-to-date income statement and cash flow
| Fiscal 2027 year to date (first quarter, three months ended July 31, 2026) | Fiscal 2026 year to date (first quarter, three months ended July 25, 2025) | |
|---|---|---|
| Period start | 2026-04-25 | 2025-04-26 |
| Period end | 2026-07-31 | 2025-07-25 |
| Period type | year to date (14 weeks; identical to Q1 FY2027) | year to date (13 weeks; identical to Q1 FY2026) |
| Source accession | 10-Q | 10-Q |
| Income statement | ||
| Net revenues | 2,025,000,000 | 1,559,000,000 |
| Total cost of revenues | 606,000,000 | 461,000,000 |
| Gross profit | 1,419,000,000 | 1,098,000,000 |
| Operating income | 484,000,000 | 309,000,000 |
| Net income | 375,000,000 | 233,000,000 |
| Diluted shares | 200,000,000 | 203,000,000 |
| Diluted EPS | 1.88 | 1.15 |
| Cash flow | ||
| Operating cash flow | 503,000,000 | 673,000,000 |
| Capex | -102,000,000 | -53,000,000 |
| Free cash flow | 401,000,000 | 620,000,000 |
NTAP trailing twelve month income statement and cash flow
| Trailing twelve months ended July 31, 2026 (53 weeks) | |
|---|---|
| Period start | 2025-07-26 |
| Period end | 2026-07-31 |
| Period type | trailing twelve months (53 weeks, derived) |
| Weeks | 53 |
| Source accession | 10-Q |
| Source accessions | 10-K, 10-Q |
| Income statement | |
| Net revenues | 7,391,000,000 |
| Total cost of revenues | 2,171,000,000 |
| Gross profit | 5,220,000,000 |
| Operating income | 1,849,000,000 |
| Net income | 1,418,000,000 |
| Cash flow | |
| Operating cash flow | 1,897,000,000 |
| Capex | -247,000,000 |
| Free cash flow | 1,650,000,000 |
- Derivation. FY2026 (10-K) plus Q1 FY2027 less Q1 FY2026 (both from the Q1 FY2027 10-Q)
Adjustments
| Splits applied | none |
|---|---|
| ADR ratio | n/a |
| FX | none: NetApp reports in US dollars |
Notes
- Template: standard technology company (product and services revenue, cost of revenues, gross profit, operating expenses, operating income, net income and per-share earnings; cash, investments, debt, deferred revenue and equity; operating cash flow, capital expenditures, free cash flow, buybacks and dividends). NetApp sells storage systems, software, support and cloud services, so this frame fits; its two reportable segments, Hybrid Cloud and Public Cloud, are carried under each period's segments block.
- Sources: every annual figure comes from NetApp's FY2026 Form 10-K (accession 0001193125-26-259683, filed June 5, 2026), which presents income statements and cash flow statements for fiscal 2026, 2025 and 2024 and balance sheets at April 24, 2026 and April 25, 2025. Every quarterly figure comes from the Q1 FY2027 Form 10-Q (accession 0001193125-26-380207, filed September 2, 2026), which presents the quarters ended July 31, 2026 and July 25, 2025 and balance sheets at July 31, 2026 and April 24, 2026.
- Fiscal calendar: NetApp's fiscal year is a 52- or 53-week year ending on the last Friday in April. Fiscal 2024, 2025 and 2026 were 52-week years. Fiscal 2027, ending April 30, 2027, is a 53-week year whose first quarter has 14 weeks, so Q1 FY2027 (April 25 to July 31, 2026) is one week longer than Q1 FY2026 (April 26 to July 25, 2025).
- The 10-Q quantifies part of the extra week's effect: approximately $50 million of additional support revenues, approximately $15 million of additional Public Cloud revenues, and approximately $22 million of additional sales and marketing, research and development, and general and administrative expenses in Q1 FY2027.
- FY2024 carries no balance sheet because the FY2026 10-K presents balance sheets only at the two most recent year-ends. Q1 FY2026 carries no balance sheet because the Q1 FY2027 10-Q presents balance sheets only at July 31, 2026 and April 24, 2026; the April 24, 2026 balance sheet appears under FY2026.
- Total debt is derived, not printed: the current portion of long-term debt plus long-term debt, both at carrying value (NetApp's Senior Notes). The FY2026 10-K states that no amounts were outstanding under the $1.0 billion revolving credit facility at April 24, 2026. The 10-Q classifies $550 million of the debt as current at July 31, 2026.
- Free cash flow is derived, not printed on the statements: net cash provided by operating activities less purchases of property and equipment.
- Cash outflows are stored as negative numbers, as the cash flow statements print them in parentheses (capital expenditures, share repurchases, dividends paid, debt repayments, acquisitions). Where a statement prints a dash, the figure is recorded as zero (for example, acquisition-related expense in fiscal 2026, the current portion of long-term debt at April 24, 2026, and other expense, net in Q1 FY2027).
- Share counts are printed in millions on the statements and are stored as whole shares at that rounding; period-end shares outstanding come from the common stock caption on each balance sheet (196 million at July 31, 2026 and April 24, 2026; 201 million at April 25, 2025). Dividends declared per share come from the statements of stockholders' equity: $2.08 in fiscal 2026 and 2025, $2.00 in fiscal 2024, and $0.52 in each of Q1 FY2027 and Q1 FY2026.
- Segment gross profit is the measure NetApp uses to evaluate its segments and excludes cost of revenues managed at the corporate level (stock-based compensation and amortization of intangible assets), so the two segments' gross profit adds up to more than consolidated gross profit: $1,429 million versus $1,419 million in Q1 FY2027, and $4,938 million versus $4,899 million in fiscal 2026.
- The year-to-date block equals Q1 FY2027 because the first quarter is the whole of fiscal 2027 to date; its prior-year comparative equals Q1 FY2026.
- The trailing-twelve-month block is derived: fiscal 2026 (10-K) plus Q1 FY2027 less Q1 FY2026 (both from the 10-Q). Because Q1 FY2027 has 14 weeks, this period covers 53 weeks (July 26, 2025 to July 31, 2026). No trailing per-share figure is given, since per-share amounts do not add across periods with different share counts.
- On July 16, 2026 NetApp acquired DataPelago, Inc. for $193 million, of which $87 million was paid in cash at closing and $106 million is contingent consideration recorded in accrued expenses; the Q1 FY2027 cash flow statement shows $78 million for acquisition of business, net of cash acquired, and goodwill rose to $2,916 million at July 31, 2026.
- Per-share figures are as filed. NetApp reported no stock split in these periods and its shares trade directly, not as depositary shares, so no per-share adjustment was needed.
Uncertainties
- Q1 FY2027 (14 weeks) and Q1 FY2026 (13 weeks) are not like-for-like periods, and the trailing-twelve-month figures span 53 weeks; growth rates computed between them include the extra week. The 10-Q quantifies the extra week's effect only for support revenues, Public Cloud revenues and operating expenses, not for total revenue or net income.
- Share counts and period-end shares outstanding are rounded to the nearest million as printed, so earnings per share recomputed from these counts can differ from the reported figure in the last digit.
Company details
| Name | NetApp, Inc. |
|---|---|
| Ticker | NTAP |
| CIK | 0001002047 |
| Exchange | Nasdaq |
| State | California |
| Incorporation | California |
| SIC | 3572 |
| Office | Technology |
| Industry | Computer Storage Devices |
Fiscal period
| Fiscal year | 2027 |
|---|---|
| Fiscal period | Q1 |
| Tag | FY27Q1 |
| Period end | 2026-07-31 |
| Form | 10-Q |
| Accession | 0001193125-26-380207 |
| Fiscal year end | 0424 |
| Source | override |
| Override replaced | FY26Q1 |
Source filings
| Role | Current | Form | Fiscal year | Fiscal period | Tag | Period end | Filed | Accession | Source |
|---|---|---|---|---|---|---|---|---|---|
| annual | no | 10-K | 2026 | FY | FY26 | 2026-04-24 | 2026-06-05 | 0001193125-26-259683 | reported |
| quarterly | yes | 10-Q | 2027 | Q1 | FY27Q1 | 2026-07-31 | 2026-09-02 | 0001193125-26-380207 | override |
FAQ · NetApp financial statements
How much revenue did NetApp report in Q1 FY2027?
NetApp reported $2.02 billion in net revenue for Q1 FY2027, the quarter ended July 31, 2026, up 29.9% from $1.56 billion in the same quarter a year earlier. The quarter included an extra week compared with the year-ago quarter, which accounted for part of the increase.
What was NetApp's net income in Q1 FY2027?
NetApp earned net income of $375 million in Q1 FY2027, the quarter ended July 31, 2026, up 60.9% from $233 million in the same quarter a year earlier. The quarter included an extra week compared with the year-ago quarter, which affects the year-over-year comparison.
What were NetApp's earnings per share in Q1 FY2027?
NetApp reported diluted earnings per share of $1.88 for Q1 FY2027, the quarter ended July 31, 2026, compared with $1.15 in the same quarter a year earlier. The quarter included an extra week compared with the year-ago quarter, which affects the year-over-year comparison.
How much did NetApp's product revenue grow in Q1 FY2027?
NetApp's product revenue was $987 million in Q1 FY2027, up 50.9% from $654 million a year earlier, driven by higher all-flash system sales that the company says were supported by price increases it made before the quarter began.
Where can I get NetApp, Inc. (NTAP) financial data in machine-readable form?
Ticker Scout publishes NetApp, Inc.'s financial statements as JSON at https://tickerscout.ai/ntap/financials.json, free, with no API key and no signup. The 10-K and 10-Q narrative and the 8-K events digest are published as Markdown at https://tickerscout.ai/ntap/narrative.md and https://tickerscout.ai/ntap/events.md. NetApp, Inc.'s SEC CIK is 0001002047. Every figure cites the SEC accession number it came from, so it can be checked against sec.gov.
When does NetApp, Inc. (NTAP) next file with the SEC?
NetApp, Inc. (NTAP) is expected to file its next Form 10-Q with the SEC on or around November 24, 2026. That date is a projection rather than a company-announced date: it is derived from NetApp, Inc.'s own filing history with the SEC, by taking the date the company filed the same fiscal period a year earlier and adding 52 weeks. The most recent periodic report on file is the 10-Q for Q1 FY2027, the period ended 2026-07-31, SEC accession 0001193125-26-380207.
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How this page was built
This page was built from two of NetApp, Inc.'s own filings with the SEC, read one at a time. Nothing on it is taken from a pre-tagged dataset, a data vendor or another website. The figures are on the company's own fiscal calendar and in actual dollars, as the filings report them. Where the filings do not support a figure, the record says so instead of reporting a zero; this period names two such gaps.
A single company files thousands of pages with the SEC in a year, and no two companies file them the same way, so the reading and the assembly here are done by AI rather than by rules that break on the differences. Every pass is then audited back against the filings it came from before the page is published, and anything the filings do not support is left out and named rather than filled in. AI can still make mistakes. That is why the accession numbers are printed: the filing is the authority, and this page is a route to it.
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