Slide 1: Condensed Consolidated Balance Sheets
NETAPP, INC. CONDENSED CONSOLIDATED BALANCE SHEETS ($ in millions) (Unaudited) July 31, 2026 April 24, 2026 ASSETS Current assets: Cash, cash equivalents and investments $ 3,576 $ 3,584 Accounts receivable 966 1,286 Inventories 375 198 Other current assets 755 708 Total current assets 5,672 5,776 Pr
Slide 2: Condensed Consolidated Statements of Operations
NETAPP, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS ($ in millions, except net income per share amounts) (Unaudited) Three Months Ended July 31, 2026 July 25, 2025 Revenues: Product $ 987 $ 654 Services 1,038 905 Net revenues 2,025 1,559 Cost of revenues: Cost of product 450 302 Cost of ser
Slide 3: Condensed Consolidated Statements of Cash Flows
NETAPP, INC. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS ($ in millions) (Unaudited) Three Months Ended July 31, 2026 July 25, 2025 Cash flows from operating activities: Net income $ 375 $ 233 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amor
Slide 4: Reconciliation of GAAP to Non-GAAP Income Statement Information
NETAPP, INC. RECONCILIATION OF GAAP TO NON-GAAP INCOME STATEMENT INFORMATION ($ in millions) Q1 FY27 Q1 FY26 NET INCOME $ 375 $ 233 Adjustments: Amortization of intangible assets 6 6 Stock-based compensation 98 83 Restructuring charges 56 2 Acquisition-related expense 1 — Gains/losses on the sale or
Slide 5: Reconciliation of GAAP to Non-GAAP Income Statement Information
NETAPP, INC. RECONCILIATION OF GAAP TO NON-GAAP INCOME STATEMENT INFORMATION ($ in millions) Q1 FY27 Q1 FY26 SALES AND MARKETING EXPENSES $ 507 $ 461 Adjustments: Amortization of intangible assets (3) (3) Stock-based compensation (40) (34) NON-GAAP SALES AND MARKETING EXPENSES $ 464 $ 424 RESEARCH A
Slide 6: Reconciliation of GAAP to Non-GAAP Income Statement Information
NETAPP, INC. RECONCILIATION OF GAAP TO NON-GAAP INCOME STATEMENT INFORMATION ($ in millions, except net income per share) Q1 FY27 Q1 FY26 INCOME FROM OPERATIONS $ 484 $ 309 Adjustments: Amortization of intangible assets 6 6 Stock-based compensation 98 83 Restructuring charges 56 2 Acquisition-relate
Slide 7: Reconciliation of GAAP to Non-GAAP Product Gross Margin
RECONCILIATION OF GAAP TO NON-GAAP PRODUCT GROSS MARGIN ($ in millions) Q1 FY27 Q1 FY26 Product gross margin 54.4% 53.8% Cost of product revenues adjustments 0.2% 0.2% Non-GAAP Product gross margin 54.6% 54.0% Cost of product revenues $ 450 $ 302 Cost of product revenues adjustments: Stock-based com
Slide 8: Reconciliation of GAAP to Non-GAAP Effective Tax Rate
RECONCILIATION OF GAAP TO NON-GAAP EFFECTIVE TAX RATE Q1 FY27 Q1 FY26 Effective tax rate 22.5% 23.4% Adjustments: Income tax effects (2.3)% (2.7)% Non-GAAP Effective tax rate 20.2% 20.7% RECONCILIATION OF NET CASH PROVIDED BY OPERATING ACTIVITIES TO FREE CASH FLOW (NON-GAAP) ($ in millions) Q1 FY27
Slide 9: Supplemental Data
NETAPP, INC. SUPPLEMENTAL DATA ($ in millions, except net income per share, DSO, DPO, and Inventory Turns) (Unaudited) Revenues by Segment Q1 FY27 Q1 FY26 Product $ 987 $ 654 Support 720 647 Professional and Other Services 112 97 Hybrid Cloud Segment Net Revenues 1,819 1,398 Public Cloud Segment Net
Slide 10: Supplemental Data
NETAPP, INC. SUPPLEMENTAL DATA ($ in millions, except net income per share, DSO, DPO, and Inventory Turns) (Unaudited) Net Revenues by Geographic Area Q1 FY27 Q1 FY26 Americas 48% 51% Americas Commercial 37% 40% U.S. Public Sector* 11% 11% EMEA 33% 32% Asia Pacific 19% 17% * U.S. Public Sector inclu
Slide 11: Reconciliation of GAAP Guidance to Non-GAAP Second Quarter Fiscal 2027
NETAPP, INC. RECONCILIATION OF GAAP GUIDANCE TO NON-GAAP SECOND QUARTER FISCAL 2027 Second Quarter Fiscal 2027 GAAP Guidance - Gross Margin 66.0% - 67.0% Adjustments: Cost of revenues adjustments 1% Non-GAAP Guidance - Gross Margin 67.0% - 68.0% Second Quarter Fiscal 2027 GAAP Guidance - Operating M
Slide 12: Reconciliation of GAAP Guidance to Non-GAAP Fiscal 2027
NETAPP, INC. RECONCILIATION OF GAAP GUIDANCE TO NON-GAAP FISCAL 2027 Fiscal 2027 GAAP Guidance - Gross Margin 67.1% - 68.1% Adjustments: Cost of revenues adjustments 1% Non-GAAP Guidance - Gross Margin 68.1% - 69.1% Fiscal 2027 GAAP Guidance - Operating Margin 24.3% - 25.3% Adjustments: Stock-based