NTAP NetApp
Q1 2026 10-Q
NetApp (NTAP) 10-Q quarterly report for Q1 2026, filed with SEC EDGAR on Feb 26, 2026 for the fiscal period ending Jan 23, 2026. This page provides AI-powered analysis including management discussion & analysis (MD&A), risk factor updates, and key quarterly financial data such as revenue and net income extracted from XBRL.
AI Filing AnalysisQ1 2026 10-Q
Management Discussion & Analysis
- • Q3 FY2026 net revenues $1,713M, up ~4% YoY from $1,641M; 9-month revenues $4,977M, up ~3% from $4,840M
- • Hybrid Cloud product gross margin down 1pp in Q3 and down 3pp in 9-month period YoY due to higher component costs; Public Cloud gross margin up 9pp in both Q3 and 9-month period YoY
Risk Factors
- • Gross margin pressure from rising NAND component costs, tariffs, logistics costs, and inflationary pressures — explicitly flagged as ongoing negative impact
- • ERP final phase implementation in Q3 FY2026 causing order processing and invoicing disruptions — new operational risk with potential financial reporting impact
Quarterly Financial SummaryXBRL
Revenue
$5.0B
▲ +215.8% YoY▲ +191.9% QoQ
Net Income
$872M
▲ +183.1% YoY▲ +185.9% QoQ
Gross Margin
71.0%
▲ +153bp YoY▼ -96bp QoQ
Operating Margin
22.9%
▲ +512bp YoY▼ -46bp QoQ
Net Margin
17.5%
▼ -202bp YoY▼ -37bp QoQ
ROE
75.3%
▲ +4437bp QoQ
Total Assets
$10.0B
▲ +3.5% QoQ
EPS (Diluted)
$4.32
▲ +215.3% YoY▲ +186.1% QoQ
Operating Cash Flow
$1.1B
▲ +3503.2% YoY▲ +779.5% QoQ
Source: XBRL data from NetApp Q1 2026 10-Q filing on SEC EDGAR. All figures in USD.
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