Q4 2026 NetApp Inc Earnings Call Transcript
Key Points
- NetApp Inc (NTAP) achieved record results in FY26 across revenue, gross profit, operating income, cash flow from operations, and free cash flow, driven by strong customer demand.
- Public cloud revenue grew to $688 million in FY26, up 18% year over year, with first-party and marketplace cloud services increasing by 30%.
- The company reported nearly 50 partner AI factories and labs, highlighting the large opportunity as enterprises operationalize AI.
- NetApp Inc (NTAP) expanded its partnership with Google Cloud, enhancing opportunities in AI and sovereign cloud environments.
- All-flash revenue reached $4.2 billion in FY26, an increase of 11% from the previous year, with robust Q4 performance.
- Rising memory and component costs are impacting NetApp Inc (NTAP), requiring close management of supply chain partnerships and pricing adjustments.
- The company faces potential risks from accelerated purchasing and demand pull-forward, which could affect future quarters.
- There is uncertainty around the impact of component cost pressures on product gross margins, despite efforts to mitigate these through price adjustments.
- NetApp Inc (NTAP) is navigating a dynamic macroenvironment, which could pose challenges to maintaining its growth momentum.
- The company has not provided specific breakdowns of revenue or bookings related to AI, making it difficult to assess the full impact of AI-related demand on overall financial performance.
Good day, and welcome to the NetApp fourth quarter and fiscal year 2026 earnings call. (Operator Instructions) Please note that this event is being recorded.
I would now like to turn the conference over to Kris Newton, Vice President, Investor Relations. Please go ahead.
Hi, everyone. Thanks for joining our Q4 and fiscal year 2026 earnings call. With me today are our CEO, George Kurian; and CFO, Wissam Jabre. This call is being webcast live and will be available for replay on our website at netapp.com.
During today's call, we will make forward-looking statements and projections with respect to our financial outlook and future prospects, including, without limitation, our guidance for the first quarter and fiscal year 2027; our expectations regarding future revenue, profitability, and shareholder returns; and other growth initiatives and strategies. These statements are subject to various risks and uncertainties, which may cause our actual results to differ materially. For more
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