Netapp, Inc. · NASDAQ:NTAP

Netapp — Investor Day (June 2024)

28 slides from Netapp's investor day presentation, Jun 11, 2024

  1. Slide 1: Driving sustained and profitable growth

    Driving sustained and profitable growth George Kurian Chief Executive Officer 1 © 2024 NetApp, Inc. All rights reserved.

  2. Slide 2: What you will hear from us today

    What you will hear from us today Uniquely Strong track Growing Focused Delivering differentiated record opportunity strategy value Leading provider Over 30-years of Addressing a wider Driving a clear and Investing for building on a industry-leading range of workloads well-structured growth while dif

  3. Slide 3: Building on our strong results in FY24

    Building on our strong results in FY24 Agenda 3 © 2024 NetApp, Inc. All rights reserved.

  4. Slide 4: Building on momentum exiting FY24

    Building on momentum exiting FY24 Record highs All Flash1 Keystone3 Cloud Storage4 almost $3.6B $150M $291M 17% >100% 38% Y/Y growth2 Y/Y growth2 Y/Y growth2 (1) AFA annualized net revenue run rate was determined by products and services revenue for Q4 FY24, multiplied by 4, (2) FY24 vs FY23, (3) TC

  5. Slide 5: We delivered strong financial results in FY24

    We delivered strong financial results in FY24 Record margins, cash flows, and earnings per share, with strong shareholder returns Record highs Gross Operating Operating EPS1 Capital returned to Margin1 Margin1 Cash Flow shareholders2 72% 27% $1.7B $6.46 $1.3B Higher margin 3rd consecutive OCF in lin

  6. Slide 6: NetApp's edge

    NetApp’s edge Key factors driving our market leadership and growth Deep understanding of the market and track record of helping customers adapt to meet their needs Storage and data management platform built for the age of data, delivering enormous value to customers and tremendous business efficienc

  7. Slide 7: Aligned to our customers' priorities

    Aligned to our customers’ priorities Agenda 7 © 2024 NetApp, Inc. All rights reserved.

  8. Slide 8: We are in the "Age of Data"

    We are in the “Age of Data” But companies need to overcome some really big hurdles Data is increasing Data is costly to Data is the Data fuels Data and Data-related in complexity and store and manage, crown jewel and AI workloads, applications operations need highly fragmented with increasing consta

  9. Slide 9: We deliver the building blocks of Intelligent Data Infrastructure

    We deliver the building blocks of Intelligent Data Infrastructure ANY DATA, ADAPTIVE EXPANSIVE WORKLOAD, & PLACE DATA MANAGEMENT & OPERATIONS ECOSYSTEM Unified data storage Most secure and Ongoing Ecosystem-wide and management for protected storage optimization of integrations for the any data and w

  10. Slide 10: The NetApp Platform enables Intelligent Data Infrastructure

    The NetApp Platform enables Intelligent Data Infrastructure INTELLIGENT DATA INFRASTRUCTURE UNIFIED CONTROL ANY DATA, ADAPTIVE EXPANSIVE WORKLOAD, & PLACE DATA MANAGEMENT & OPERATIONS ECOSYSTEM ALWAYS-ON INTELLIGENCE Enables THE NETAPP PLATFORM CONTROL PLANE ECOSYSTEM SERVICES PLANE ENABLEMENT INTEL

  11. Slide 11: …enabling transformative flexibility and simplicity at scale

    The NetApp Platform enables Intelligent Data Infrastructure INTELLIGENT DATA INFRASTRUCTURE UNIFIED CONTROL ANY DATA, ADAPTIVE EXPANSIVE WORKLOAD, & PLACE DATA MANAGEMENT & OPERATIONS ECOSYSTEM …enabling transformative flexibility ALWAYS-ON INTELLIGENCE and simplicity at scale Enables THE NETAPP PLA

  12. Slide 12: Across several eras in the age of data, NetApp has led in data infrastructure innovation

    Across several eras in the age of data, NetApp has led in data infrastructure innovation m ple x ity and cost , co g amo unt of data Increasin Adoption Complexity Acceleration Simplification Data Siloes & Hybrid Hybrid Intelligence Unification Cloud Multiclouds NetApp delivers silo-free infrastructu

  13. Slide 13: Turning disruption into opportunity for every customer

    Turning disruption into opportunity for every customer 13 © 2024 NetApp, Inc. All rights reserved.

  14. Slide 14: Our customers include the world's most important organizations

    Our customers include the world’s most important organizations 20-year partnership with a leading global financial services company Next Gen Data Center & Containers Strategic Enterprise Backup Agreement • 90%+ All Flash NVMe solutions. • Leveraged Snapshot and • First ELA/ESA with • Partnered for K

  15. Slide 15: Focused on large and growing markets

    Agenda Focused on large and growing markets 15 © 2024 NetApp, Inc. All rights reserved.

  16. Slide 16: Serving a large & growing market

    Serving a large & growing market We have a big & growing market opportunity with numerous tailwinds $100B+ Opportunity in 2027 The absolute volume of data continues to expand rapidly Data is… • fragmented across on-premises and hybrid multi- Public Cloud cloud environments • constantly under threat

  17. Slide 17: Modernizing data environments

    Modernizing data environments We have significantly broadened and strengthened our flash storage opportunity $100B+ Opportunity in 2027 • New all-flash product families expand our addressable market with industry-leading efficiency, density and sustainability • Capitalizing on the market shift to Fl

  18. Slide 18: Addressing any data type

    Addressing any data type We have significantly broadened and strengthened our flash storage opportunity $100B+ Opportunity in 2027 • Expanding on our 30-year leadership with the industry’s best file and unified storage • Disrupting the block storage market with modern, block optimized flash storage

  19. Slide 19: Gaining share with cloud migrations

    Gaining share with cloud migrations We are winning new customers and expanding wallet share within existing customers $100B+ Opportunity in 2027 • Growth in the cloud is reaccelerating and the market is dominated by our partners • We are expanding innovation in native cloud Public Cloud storage and

  20. Slide 20: Accelerating AI deployments

    Accelerating AI deployments Our leadership in unstructured data and cloud position us uniquely to help customers with AI $100B+ Opportunity in 2027 • Unstructured data is the fuel for generative AI • Customers AI deployments require unified data storage and hybrid cloud data pipelines • Integrated d

  21. Slide 21: Competitively positioned to drive growth in key markets

    Competitively positioned to drive growth in key markets Flash Block Cloud AI + AFF Series ASA Series Optimized The right product Only natively Large portion of the performance and and strategy to integrated player, world’s unstructured design across all disrupt the mature addressing a broad enterpri

  22. Slide 22: The right strategy for profitable growth

    Agenda The right strategy for profitable growth 22 © 2024 NetApp, Inc. All rights reserved.

  23. Slide 23: Strategy for driving profitable growth at NetApp

    Strategy for driving profitable growth at NetApp Addressing a Uniquely Focused GTM Driving growth with $100B+ differentiated execution plan high margin opportunity, platform to expand our products and aligned to the powers intelligent share of wallet, operational largest & data infrastructure attrac

  24. Slide 24: Appendix: Non-GAAP to GAAP Reconciliations & Explanations

    Appendix: Non-GAAP to GAAP Reconciliations & Explanations © 2024 NetApp, Inc. All rights reserved.

  25. Slide 25: Reconciliation of Non-GAAP to GAAP gross margin

    Reconciliation of Non-GAAP to GAAP gross margin NETAPP, INC. RECONCILIATION OF NON-GAAP TO GAAP GROSS MARGIN ($ in millions) FY2024 Gross margin-GAAP 71% Cost of revenues adjustments 1% Gross margin-Non-GAAP 72% GAAP cost of revenues $ 1,835 Cost of revenues adjustments: Amortization of intangible a

  26. Slide 26: Reconciliation of Non-GAAP to GAAP operating margin

    Reconciliation of Non-GAAP to GAAP operating margin NETAPP, INC. RECONCILIATION OF NON-GAAP TO GAAP OPERATING MARGIN ($ in millions) FY2024 Operating margin-GAAP 19% Adjustments: 8% Operating margin-Non-GAAP 27% GAAP income from operations $ 1,214 Income from operations adjustments: Amortization of

  27. Slide 27: Reconciliation of Non-GAAP to GAAP earnings per share

    Reconciliation of Non-GAAP to GAAP earnings per share NETAPP, INC. RECONCILIATION OF NON-GAAP TO GAAP EARNINGS PER SHARE FY2024 NET INCOME PER SHARE $ 4.63 Adjustments: Amortization of intangible assets 0.27 Stock-based compensation 1.68 Restructuring charges 0.21 Acquisition-related expense 0.05 Li

  28. Slide 28: NetApp Investor Day

    NETAPP INVESTOR DAY June 11, 2024 © 2024 NetApp, Inc. All rights reserved.

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