NetApp, Inc. Files 10-Q for Period Ending January 26, 2024

TL;DR

<b>NetApp, Inc. has filed its quarterly report (10-Q) for the period ending January 26, 2024.</b>

AI Summary

NetApp, Inc. (NTAP) filed a Quarterly Report (10-Q) with the SEC on February 29, 2024. NetApp, Inc. filed a 10-Q report for the period ending January 26, 2024. The filing covers the fiscal quarter ending January 26, 2024. The company's fiscal year ends on April 26. NetApp, Inc. is incorporated in California. The company's primary business is in Computer Storage Devices.

Why It Matters

For investors and stakeholders tracking NetApp, Inc., this filing contains several important signals. This filing provides investors with an update on NetApp's financial performance and position as of January 26, 2024. The 10-Q report is crucial for understanding the company's operational results, cash flows, and financial health during the specified quarter.

Risk Assessment

Risk Level: low — NetApp, Inc. shows low risk based on this filing. The filing is a standard 10-Q, indicating routine financial reporting without immediate red flags.

Analyst Insight

Review the detailed financial statements and management's discussion and analysis within the 10-Q to assess NetApp's performance and outlook.

Key Numbers

• 2024-01-26 — Period End Date (Quarterly report period)
• 2024-02-29 — Filing Date (Date the report was filed)
• 0426 — Fiscal Year End (NetApp's fiscal year end)
• 3572 — SIC Code (Computer Storage Devices)

Key Players & Entities

• NetApp, Inc. (company) — Filer
• 2024-01-26 (date) — Period of report
• 2024-02-29 (date) — Filing date
• 0000950170-24-023115 (filing) — Accession Number
• 3572 (industry) — Standard Industrial Classification
• CA (state) — State of incorporation
• 0426 (date) — Fiscal year end
• 3060 OLSEN DRIVE (address) — Business address

FAQ

Industry Context

NetApp operates in the computer storage devices industry, providing data storage and management solutions.

Regulatory Implications

The filing is a standard 10-Q, adhering to SEC regulations for quarterly financial reporting under the Securities Exchange Act of 1934.

What Investors Should Do

1. Analyze NetApp's financial statements for the quarter ending January 26, 2024.
2. Review the Management's Discussion and Analysis (MD&A) section for insights into performance drivers and risks.
3. Compare key financial metrics to previous periods and industry benchmarks.

Key Dates

• 2024-01-26: Quarter End — End of the reporting period for the 10-Q
• 2024-02-29: Filing Date — Date the 10-Q was officially filed with the SEC

Year-Over-Year Comparison

This is the 10-Q filing for the quarter ending January 26, 2024, following previous filings for the fiscal year.

Key Financial Figures

• $0.001 — nge on which registered Common Stock, $0.001 Par Value NTAP The NASDAQ Stock Mar

Filing Documents

• ntap-20240126.htm (10-Q) — 2878KB
• ntap-ex31_1.htm (EX-31.1) — 12KB
• ntap-ex31_2.htm (EX-31.2) — 12KB
• ntap-ex32_1.htm (EX-32.1) — 6KB
• ntap-ex32_2.htm (EX-32.2) — 7KB
• 0000950170-24-023115.txt (&nbsp;) — 12893KB
• ntap-20240126.xsd (EX-101.SCH) — 1587KB
• ntap-20240126_htm.xml (XML) — 2913KB

— FINANCIAL INFORMATION

PART I — FINANCIAL INFORMATION Item 1 Condensed Consolidated Financial Statements (Unaudited) 3 Condensed Consolidated Balance Sheets as of January 26, 2024 and April 28, 2023 3 Condensed Consolidated Statements of Income for the Three and Nine Months Ended January 26, 2024 and January 27, 2023 4 Condensed Consolidated Statements of Comprehensive Income for the Three and Nine Months Ended January 26, 2024 and January 27, 2023 5 Condensed Consolidated Statements of Cash Flows for the Nine Months Ended January 26, 2024 and January 27, 2023 6 Condensed Consolidated Statements of Stockholders' Equity for the Three and Nine Months Ended January 26, 2024 and January 27, 2023 7 Notes to Condensed Consolidated Financial Statements 9 Item 2

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 26 Item 3

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 39 Item 4

Controls and Procedures

Controls and Procedures 40

— OTHER INFORMATION

PART II — OTHER INFORMATION Item 1

Legal Proceedings

Legal Proceedings 41 Item 1A

Risk Factors

Risk Factors 41 Item 2 Unregistered Sales of Equity Securities and Use of Proceeds 41 Item 3 Defaults upon Senior Securities 41 Item 4 Mine Safety Disclosures 41 Item 5 Other Information 41 Item 6 Exhibits 42 SIGNATURE 43 TRADEMARKS 2024 NetApp, Inc. All Rights Reserved. No portions of this document may be reproduced without prior written consent of NetApp, Inc. NetApp, the NetApp logo, and the marks listed at http://www.netapp.com/TM are trademarks of NetApp, Inc. Other company and product names may be trademarks of their respective owners. 2 P ART I — FINANCIAL INFORMATION I tem 1. Condensed Consolidated Financial Statements (Unaudited) NETAPP, INC. C ONDENSED CONSOLIDATED BALANCE SHEETS (In millions, except par value) (Unaudited) January 26, 2024 April 28, 2023 ASSETS Current assets: Cash and cash equivalents $ 1,820 $ 2,316 Short-term investments 1,097 754 Accounts receivable 787 987 Inventories 131 167 Other current assets 492 456 Total current assets 4,327 4,680 Property and equipment, net 607 650 Goodwill 2,759 2,759 Purchased intangible assets, net 138 181 Other non-current assets 1,538 1,548 Total assets $ 9,369 $ 9,818 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 396 $ 392 Accrued expenses 876 857 Current portion of long-term debt 400 — Short-term deferred revenue and financed unearned services revenue 2,093 2,218 Total current liabilities 3,765 3,467 Long-term debt 1,991 2,389 Other long-term liabilities 585 708 Long-term deferred revenue and financed unearned services revenue 2,034 2,095 Total liabilities 8,375 8,659 Commitments and contingencies (Note 15) Stockholders' equity: Common stock and additional paid-in capital, $ 0.001 par value; 206 and 212 shares issued and outstanding as of January 26, 2024 and April 28, 202

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View this 10-Q filing on SEC EDGAR