NetApp, Inc.'s Stock Analysis

NetApp Increases Share Reserves in Employee Stock Plans

NetApp's Board of Directors approved amendments to the Employee Stock Purchase Plan and the 2021 Equity Incentive Plan, increasing the share reserves by 4,000,000 and 5,000,000 shares, respectively. These amendments were confirmed by stockholder approval at the annual meeting held on September 10, 2025, and further details were provided in the company's proxy statement filed earlier in July 2025.

Additionally, changes to the Outside Director Compensation Policy were approved, effective September 10, 2025. During the same annual meeting, stockholders elected new members to the Board for terms expiring at the next annual meeting, with several proposals being approved while one proposal was not approved.

Sep 12, 2025 18:18:06

NetApp Reports First Quarter Financial Results for FY 2026

NetApp, Inc. reported net revenues of $1.56 billion for the first quarter of fiscal year 2026, which ended on July 25, 2025. The company achieved a 6% year-over-year growth in all-flash array revenue, totaling $893 million. Billings increased by 4% year-over-year to $1.51 billion, marking the seventh consecutive quarter of growth in this area. The company also reported record cash provided by operations of $673 million and free cash flow of $620 million for the quarter, alongside a GAAP operating profit of $309 million and a non-GAAP operating profit of $401 million. NetApp returned $404 million to stockholders through share repurchases and dividends during this period.

In terms of market position, NetApp secured the #1 market share in all-flash storage for calendar Q1 2025, as reported by IDC. The company introduced several innovative products and services aimed at enhancing AI and data infrastructure solutions. Notable partnerships with NVIDIA and AWS were announced, focusing on AI data pipelines and VMware workload migration, respectively. Additionally, NetApp appointed new leadership in its North American sales division and announced key personnel changes, including the appointment of a Chief Product Officer to drive innovation in the company’s offerings.

Aug 27, 2025 16:05:30

NetApp Reports Record Revenue and Profit for Fiscal Year 2025

NetApp announced its financial results for the fourth quarter and fiscal year 2025, highlighting net revenues of $1.73 billion for the fourth quarter, a 4% increase year-over-year, and total net revenues of $6.57 billion for the fiscal year, marking a 5% increase. The company achieved record profits with a GAAP net income of $340 million in the fourth quarter and $1.19 billion for the fiscal year. Additionally, NetApp returned $1.57 billion to stockholders through share repurchases and dividends during the fiscal year 2025.

The company reported significant growth in various segments, including a record annualized net revenue run rate of $4.1 billion for all-flash arrays, a 14% increase year-over-year. Public Cloud services revenue reached $416 million, up 43% year-over-year. Billings for the fiscal year were also at a record $6.78 billion, reflecting an 8% increase. NetApp's cash, cash equivalents, and investments totaled $3.85 billion at the end of the fourth quarter, and the company announced a cash dividend of $0.52 per share to be paid on July 23, 2025.

May 29, 2025 16:05:25

NetApp Board Expands with Appointment of Frank Pelzer

NetApp has appointed Frank Pelzer, the Chief Operating Officer at Spotnana, to its Board of Directors, increasing the board's size to ten members. This appointment is part of a broader strategy, as 40% of the board members have been appointed in the last five years, reflecting a commitment to bringing in fresh perspectives to drive growth and innovation in the company.

Frank Pelzer brings extensive experience from his previous roles, including CFO of F5 and President and COO of the Cloud Business Group at SAP. His background in modern financial operations and cloud services is expected to support NetApp's strategic initiatives. However, the press release does not mention any specific challenges or areas of concern facing the company at this time.

Mar 26, 2025 16:15:09

NetApp Receives Legal Opinion on Notes Issuance Compliance

NetApp has obtained a legal opinion from Wilson Sonsini Goodrich & Rosati regarding the legality of its Notes, dated March 17, 2025. This document is included as Exhibit 5.1 in the filing.

The press release also includes a standard section on signatures, indicating that the report has been duly signed by Elizabeth O’Callahan, who holds the position of Executive Vice President, Chief Administrative Officer, and Secretary.

Mar 17, 2025 16:37:46

Company Files Financial Statements Under Securities Exchange Act

The company has submitted its financial statements as required by the Securities Exchange Act of 1934. The report has been signed by authorized personnel, confirming compliance with regulatory obligations. No specific financial metrics or performance details were provided in the release.

Mar 05, 2025 16:14:46

NetApp Reports Q3 FY2025 Revenue Increase and Earnings Decline

NetApp reported net revenues of $1.64 billion for the third quarter of fiscal year 2025, reflecting a 2% increase from $1.61 billion in the same quarter of the previous year. The company experienced growth in its all-flash array annualized net revenue run rate, which reached $3.8 billion, a 10% increase year-over-year. Additionally, cloud storage services revenue grew over 40% year-over-year, and the company returned $306 million to stockholders through share repurchases and dividends. The GAAP operating margin was reported at 22%, and the non-GAAP operating margin was 30%. The company also introduced several new products and expanded partnerships to enhance its market position. 

Conversely, NetApp's GAAP net income decreased to $299 million from $313 million year-over-year, and the non-GAAP net income also fell from $410 million to $397 million. Earnings per share saw a decline, with GAAP net income per share at $1.44 compared to $1.48 in the previous year, and non-GAAP net income per share decreasing from $1.94 to $1.91. Additionally, cash provided by operations was lower at $385 million compared to $484 million in the third quarter of fiscal year 2024. Overall, while the company showed some positive growth metrics, it faced challenges in net income and operational cash flow.

Feb 27, 2025 16:05:11

NetApp Appoints New Chief Administrative Officer with Expanded Role

NetApp announced the appointment of Beth O’Callahan as the Chief Administrative Officer, a newly defined role that combines oversight of Legal, Compliance, Government Relations, Sustainability, Human Resources, Workplace Experience, and Corporate Communications. This strategic move aims to enhance collaboration and operational efficiency within the company, with O’Callahan’s extensive experience and leadership recognized as key factors in this decision. She has been with NetApp since 2013 and has received multiple awards for her contributions to the industry and advocacy for diversity and legal equity.

The press release highlights O’Callahan's commitment to fostering a high-performing organization and enhancing accountability and agility. While the announcement focuses on the positive aspects of this leadership change, it does not address any potential challenges or concerns that may arise from this restructuring. The emphasis is placed on the expected benefits of unifying critical functions under her leadership, aligning with NetApp's strategic goals for operational excellence and talent development.

Feb 26, 2025 17:06:49

Wissam Jabre Appointed CFO of NetApp Effective March 2025

NetApp has announced the appointment of Wissam Jabre as the new Executive Vice President and Chief Financial Officer, effective March 10, 2025. Jabre brings over 20 years of finance experience, having previously served as CFO at Western Digital Corporation and Dialog Semiconductor. His expertise is expected to contribute to NetApp's growth and value creation as the company continues to expand its intelligent data infrastructure offerings. CEO George Kurian expressed confidence in Jabre's ability to drive sustained growth and long-term value for stakeholders.

The announcement follows the planned retirement of Mike Berry, who held the CFO position for five years. While the transition to a new CFO may bring fresh perspectives, it also introduces uncertainty during the changeover period. Jabre's extensive background in finance leadership positions him well for the role, but the impact of this leadership change on NetApp's operations and performance remains to be seen.

Jan 28, 2025 16:49:35

NetApp Reports $1.66 Billion in Q2 Fiscal Year 2025 Revenue

NetApp reported net revenues of $1.66 billion for the second quarter of fiscal year 2025, marking a 6% increase from the previous year. The company achieved a record annualized net revenue run rate of $3.8 billion for all-flash arrays, reflecting a 19% year-over-year growth. Additionally, revenue from first-party and marketplace cloud storage services grew approximately 43%. The net income per share also rose, with GAAP net income reaching $1.42 and non-GAAP net income at $1.87. The company returned $406 million to shareholders through share repurchases and dividends during this quarter. 

However, cash provided by operations decreased to $105 million, down from $135 million in the same quarter last year. Despite the overall revenue growth, the press release did not highlight any specific challenges faced by the company, leaving potential concerns regarding operational efficiency or market competition unaddressed. The company also provided guidance for future revenues and earnings per share, but no specific challenges or risks were mentioned in the context of these forecasts.

Nov 21, 2024 16:05:09