Slide 1: Q2FY26 Financial Results
Q2FY26 Financial Results Western Digital January 29, 2026
Slide 2: Disclaimers
2 WEST ERN DIGIT AL CORPORAT ION © 2026 WEST ERN DIGIT AL CORPORAT ION OR IT S AFFILIAT ES ALL RIGHT S RESERVED Disclaimers Forward-Looking Statements This presentation contains forward-looking statements within the meaning of federal securities laws, including statements regarding expectations for:
Slide 3: Q2FY26 Highlights
3 WEST ERN DIGIT AL CORPORAT ION © 2026 WEST ERN DIGIT AL CORPORAT ION OR IT S AFFILIAT ES ALL RIGHT S RESERVED Q2FY26 Highlights NON-GAAP NON-GAAP GROSS OPERATING REVENUE MARGIN MARGIN • Revenue & non-GAAP EPS above high end of guidance $3.0B 46.1% 33.8% • Shipped over 3.5 million units of latest g
Slide 4: Cloud Is Driving Growth
4 WEST ERN DIGIT AL CORPORAT ION © 2026 WEST ERN DIGIT AL CORPORAT ION OR IT S AFFILIAT ES ALL RIGHT S RESERVED Cloud Is Driving Growth Revenue ($ Billions) $3.0 89% Cloud 89% $2.5 90% 87% 87% $2.0 $1.5 $1.0 $0.5 6% 6% 5% 5% 6% Client 7% 7% 5% 6% 5% Consumer $0.0 Q2FY25 Q3FY25 Q4FY25 Q1FY26 Q2FY26 C
Slide 5: Business Metrics Q2FY26
5 WEST ERN DIGIT AL CORPORAT ION © 2026 WEST ERN DIGIT AL CORPORAT ION OR IT S AFFILIAT ES ALL RIGHT S RESERVED Business Metrics Q2FY26 Revenue and Non-GAAP Gross Margin Exabytes Revenue Gross Exabytes ($ Billions) Margin 225 $3.0 50% 200 45% $2.5 175 40% 150 35% $2.0 30% 125 $1.5 25% 100 20% 75 $1.
Slide 6: Non-GAAP Financial Results
6 WEST ERN DIGIT AL CORPORAT ION © 2026 WEST ERN DIGIT AL CORPORAT ION OR IT S AFFILIAT ES ALL RIGHT S RESERVED Non-GAAP Financial Results ($ Millions, except for EPS) Q2FY25 Q1FY26 Q2FY26 QoQ YoY Revenue $2,409 $2,818 $3,017 +7% +25% Gross Margin 38.4% 43.9% 46.1% +220 bps +770 bps Operating Expens
Slide 7: Q3FY26 Guidance
7 WEST ERN DIGIT AL CORPORAT ION © 2026 WEST ERN DIGIT AL CORPORAT ION OR IT S AFFILIAT ES ALL RIGHT S RESERVED Q3FY26 Guidance Non-GAAP Revenue $3.2B +/- $100M Gross Margin % 47% – 48% Operating Expenses $380M – $390M Interest and Other Expense, net ~ $50M Tax Rate ~ 16% EPS – Diluted $2.30 +/- $0.
Slide 8: Quarterly Fact Sheet
8 WEST ERN DIGIT AL CORPORAT ION © 2026 WEST ERN DIGIT AL CORPORAT ION OR IT S AFFILIAT ES ALL RIGHT S RESERVED Quarterly Fact Sheet ($ Millions, except exabytes) Q2FY25 Q3FY25 Q4FY25 Q1FY26 Q2FY26 Revenue by End Market Cloud $2,096 $2,007 $2,329 $2,510 $2,673 Client 140 137 140 146 176 Consumer 173
Slide 9: Appendix
9 Appendix
Slide 10: GAAP to Non-GAAP Reconciliations
10 WEST ERN DIGIT AL CORPORAT ION © 2026 WEST ERN DIGIT AL CORPORAT ION OR IT S AFFILIAT ES ALL RIGHT S RESERVED GAAP to Non-GAAP Reconciliations ($ Millions, unaudited) Q2FY25 Q3FY25 Q4FY25 Q1FY26 Q2FY26 GAAP Gross Profit $907 $912 $1,067 $1,227 $1,380 Stock-based compensation expense 9 7 8 9 8 Lit
Slide 11: GAAP to Non-GAAP Reconciliations
11 WEST ERN DIGIT AL CORPORAT ION © 2026 WEST ERN DIGIT AL CORPORAT ION OR IT S AFFILIAT ES ALL RIGHT S RESERVED GAAP to Non-GAAP Reconciliations ($ Millions, except per share amounts; unaudited) Q2FY25 Q1FY26 Q2FY26 GAAP Net Income from Continuing Operations $466 $1,182 $1,842 Amount allocated to p
Slide 12: GAAP to Non-GAAP Reconciliations: Footnotes
12 WEST ERN DIGIT AL CORPORAT ION © 2026 WEST ERN DIGIT AL CORPORAT ION OR IT S AFFILIAT ES ALL RIGHT S RESERVED GAAP to Non-GAAP Reconciliations Footnotes This presentation contains the following financial measures that are not in accordance with U.S. generally accepted accounting principles (“GAAP
Slide 13: Western Digital
SN. Western Digital.