NetApp, Inc. reported a net revenue of $6.925 billion for the fiscal year ending April 24, 2026, marking a 5% increase from $6.572 billion in the previous fiscal year. The company's gross profit also rose to $4.899 billion, with a gross margin of 71%, slightly up from 70% in fiscal 2025. Net income for the year was $1.276 billion, translating to a diluted earnings per share of $6.35, compared to $1.186 billion and $5.67 per share in the prior year. The increase in revenue was attributed to growth in both product and services revenues, with product revenues reaching $3.194 billion, a 5% increase from the previous year.
In terms of operational changes, NetApp executed a restructuring plan in fiscal 2026, incurring $21 million in related expenses primarily for employee severance. The company also repurchased 9 million shares of its common stock at an average price of $105.89, totaling $950 million, and declared cash dividends of $0.52 per share, consistent with the previous year. The company’s deferred revenue increased to $4.845 billion, reflecting a growing demand for its services and support contracts.
NetApp's strategic focus remains on modernizing data infrastructure, enhancing security operations, optimizing cloud strategies, and accelerating AI adoption. The company has emphasized its integration with major public cloud providers, which has positioned it favorably in the market. The Hybrid Cloud segment generated $6.237 billion in net revenues, with all-flash revenues accounting for 67% of this segment, up from 64% in the previous year. The Public Cloud segment also saw growth, with revenues of $688 million, driven by increased customer demand.
Looking ahead, NetApp anticipates continued challenges from inflationary pressures and supply chain constraints, which have already impacted gross margins. The company plans to adjust pricing strategies to align with rising costs while maintaining a diverse product offering to meet customer needs. Management remains optimistic about future growth, particularly in the AI and cloud sectors, and expects to leverage its strong cash position, which stood at $3.584 billion as of April 24, 2026, to support ongoing operations and strategic initiatives.
About NetApp, Inc.
NetApp, Inc. provides enterprise data storage, management, and cloud solutions that enable organizations to modernize infrastructure, enhance security, and support AI workloads. Its offerings include unified hardware and software platforms, hybrid and multi-cloud services, and data protection tools. Serving diverse industries worldwide, NetApp's core value lies in simplifying complex data environments, delivering scalable, secure, and high-performance data infrastructure across on-premises and cloud environments.
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