NetApp Inc
LSE:0K6F
NetApp Inc
In the dynamic landscape of technology firms, NetApp Inc. stands as a stalwart, rooted in the heart of Silicon Valley. Founded in 1992, it has carved its niche in the realm of data management and hybrid cloud services. Steadily adapting to the ever-evolving demands of the digital age, NetApp facilitates data storage and management solutions, helping businesses streamline their IT infrastructures both on-premises and in the cloud. At its core, the company prides itself on empowering organizations to unleash the full potential of their data by providing scalable, high-performance storage systems and software that extend across their full spectrum of data environments. Through its unified hybrid cloud approach, NetApp leverages its proprietary ONTAP software to create seamless, agile data fabrics for enterprises, helping them harness critical insights and collaborate more effectively.
In crafting its revenue stream, NetApp primarily caters to corporate clients across a variety of industries, offering solutions that range from efficient storage hardware to sophisticated software services. The company earns through direct sales and partnerships with a robust network of resellers and channel partners. Its growth trajectory has evolved in tandem with its strategic acquisitions and innovations, as seen in its expansion into cloud services and solutions—an area that continues to gain momentum as enterprises pivot towards cloud-centric operations. Despite the intense competition, NetApp's blend of innovation, strategic alignment, and customer-centric solutions positions it as a formidable player in the tech industry, keeping it ahead in a world where the value of data continues to escalate.
In the dynamic landscape of technology firms, NetApp Inc. stands as a stalwart, rooted in the heart of Silicon Valley. Founded in 1992, it has carved its niche in the realm of data management and hybrid cloud services. Steadily adapting to the ever-evolving demands of the digital age, NetApp facilitates data storage and management solutions, helping businesses streamline their IT infrastructures both on-premises and in the cloud. At its core, the company prides itself on empowering organizations to unleash the full potential of their data by providing scalable, high-performance storage systems and software that extend across their full spectrum of data environments. Through its unified hybrid cloud approach, NetApp leverages its proprietary ONTAP software to create seamless, agile data fabrics for enterprises, helping them harness critical insights and collaborate more effectively.
In crafting its revenue stream, NetApp primarily caters to corporate clients across a variety of industries, offering solutions that range from efficient storage hardware to sophisticated software services. The company earns through direct sales and partnerships with a robust network of resellers and channel partners. Its growth trajectory has evolved in tandem with its strategic acquisitions and innovations, as seen in its expansion into cloud services and solutions—an area that continues to gain momentum as enterprises pivot towards cloud-centric operations. Despite the intense competition, NetApp's blend of innovation, strategic alignment, and customer-centric solutions positions it as a formidable player in the tech industry, keeping it ahead in a world where the value of data continues to escalate.
Revenue Growth: NetApp reported Q3 revenue of $1.71 billion, up 4% year-over-year and 6% excluding the divested Spot business, beating the midpoint of guidance.
Record Profitability: Operating income and EPS reached record highs; non-GAAP EPS was $2.12, up 11% year-over-year and above the high end of guidance.
Strong All-Flash & Keystone: All-flash array revenue hit a record $1 billion (up 11% YoY), and Keystone storage-as-a-service revenue surged roughly 65% YoY.
AI Momentum: The company saw about 300 AI-related customer wins in Q3, up from 200 last quarter, with growing adoption of new AFX and AI Data Engine products.
Cloud Services Expansion: Adjusted public cloud services revenue rose 17% YoY, first-party and marketplace services up 27%, and half of new cloud revenue came from new customers.
Price Increases & Cost Pressures: Management confirmed price increases to offset memory inflation and said further increases are likely if needed.
Upbeat Guidance: Q4 revenue is guided to $1.87 billion (up 8% YoY at midpoint); full-year revenue expected between $6.772 and $6.922 billion, with non-GAAP EPS of $7.92–$8.02.
