NetApp Files Q1 2025 10-Q: Financials and Operations Detailed
Ticker: NTAP · Form: 10-Q · Filed: Aug 28, 2024 · CIK: 1002047
| Field | Detail |
|---|---|
| Company | Netapp, INC. (NTAP) |
| Form Type | 10-Q |
| Filed Date | Aug 28, 2024 |
| Risk Level | medium |
| Pages | 15 |
| Reading Time | 18 min |
| Key Dollar Amounts | $0.001 |
| Sentiment | neutral |
Sentiment: neutral
Topics: 10-Q, earnings, financials, cloud
Related Tickers: NTAP
TL;DR
**NetApp Q1 2025 10-Q is in! Check financials for Hybrid & Public Cloud segments.**
AI Summary
NetApp, Inc. filed its 10-Q for the period ending July 26, 2024, reporting on its fiscal first quarter of 2025. The filing details financial performance and operational segments, including its Hybrid Cloud and Public Cloud segments. Key financial data and risks associated with its business operations are disclosed.
Why It Matters
This filing provides investors and analysts with a detailed look at NetApp's financial health and operational performance for the latest quarter, influencing investment decisions.
Risk Assessment
Risk Level: medium — The filing contains standard disclosures about business operations, financial performance, and potential risks inherent in the technology sector.
Key Numbers
- Q1 2025 — Fiscal Quarter (Reporting period for the 10-Q)
- 0426 — Fiscal Year End (NetApp's fiscal year end date)
Key Players & Entities
- NetApp, Inc. (company) — Filer of the 10-Q
- 20240726 (date) — End of the reporting period
- 2025 (date) — Fiscal year
- TechData Corporation (company) — Mentioned in relation to credit concentration risk
FAQ
What were the key financial results for NetApp in the first quarter of fiscal year 2025?
The 10-Q filing for the period ending July 26, 2024, details the financial performance for Q1 2025, but specific dollar amounts for revenue, profit, or loss are not provided in this summary extract.
Which operating segments does NetApp report on in this filing?
NetApp reports on its Hybrid Cloud segment and its Public Cloud segment.
What is the fiscal year end for NetApp?
NetApp's fiscal year ends on April 26th.
Are there any specific risks mentioned related to credit concentration?
Yes, the filing mentions 'us-gaap:CreditConcentrationRiskMember' in relation to 'ntap:TechDataCorporationMember'.
What is the filing date and the period it covers?
The filing date is August 28, 2024, and it covers the period ending July 26, 2024.
Filing Stats: 4,448 words · 18 min read · ~15 pages · Grade level 18.7 · Accepted 2024-08-28 16:21:27
Key Financial Figures
- $0.001 — nge on which registered Common Stock, $0.001 Par Value NTAP The NASDAQ Stock Mar
Filing Documents
- ntap-20240726.htm (10-Q) — 2098KB
- 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
- 0000950170-24-101408.txt ( ) — 10638KB
- ntap-20240726.xsd (EX-101.SCH) — 1517KB
- ntap-20240726_htm.xml (XML) — 2189KB
— FINANCIAL INFORMATION
PART I — FINANCIAL INFORMATION Item 1 Condensed Consolidated Financial Statements (Unaudited) 3 Condensed Consolidated Balance Sheets 3 Condensed Consolidated Statements of Income 4 Condensed Consolidated Statements of Comprehensive Income 5 Condensed Consolidated Statements of Cash Flows 6 Condensed Consolidated Statements of Stockholders' Equity 7 Notes to Condensed Consolidated Financial Statements 8 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 24 Item 3
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 35 Item 4
Controls and Procedures
Controls and Procedures 36
— OTHER INFORMATION
PART II — OTHER INFORMATION Item 1
Legal Proceedings
Legal Proceedings 37 Item 1A
Risk Factors
Risk Factors 37 Item 2 Unregistered Sales of Equity Securities and Use of Proceeds 37 Item 3 Defaults upon Senior Securities 37 Item 4 Mine Safety Disclosures 37 Item 5 Other Information 37 Item 6 Exhibits 38 SIGNATURE 39 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) July 26, 2024 April 26, 2024 ASSETS Current assets: Cash and cash equivalents $ 1,652 $ 1,903 Short-term investments 1,365 1,349 Accounts receivable 679 1,007 Inventories 214 186 Other current assets 411 452 Total current assets 4,321 4,897 Property and equipment, net 594 604 Goodwill 2,759 2,759 Purchased intangible assets, net 110 124 Other non-current assets 1,527 1,503 Total assets $ 9,311 $ 9,887 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 437 $ 517 Accrued expenses 793 1,013 Current portion of long-term debt 1,149 400 Short-term deferred revenue and financed unearned services revenue 2,133 2,176 Total current liabilities 4,512 4,106 Long-term debt 1,244 1,992 Other long-term liabilities 590 585 Long-term deferred revenue and financed unearned services revenue 2,036 2,058 Total liabilities 8,382 8,741 Commitments and contingencies (Note 14) Stockholders' equity: Common stock and additional paid-in capital, $ 0.001 par value; 205 and 206 shares issued and outstanding as of July 26, 2024 and April 26,