NetApp, Inc.
NetApp, Inc. is a U.S.-based enterprise data infrastructure company headquartered in San Jose, California. It designs and sells storage systems, data management software, and related services that help organizations run hybrid and multicloud environments across on-premises and public cloud infrastructure.
Fiscal year 2026 · change from previous year
Development 2021–2026
Business
Share of revenueConfigured storage systems, all-flash arrays, hybrid systems, and related software.
Hardware and software support contracts for installed systems and software.
As-a-service cloud storage, data services, and operational services delivered through cloud platforms.
Consulting, migration, integration, education, and training services.
Products
Reported · share of revenue- Products46.1 %
- Support38.1 %
- Public Cloud9.9 %
- Professional and Other Services5.9 %
Source: 10-K FY2026, revenue the company reports per product line (SEC XBRL). Shares are of the lines shown and add up to 100 %.
Customers
NetApp sells to enterprise customers, government agencies, and service providers that need storage and data management across hybrid and multicloud environments. Its customer base spans industries such as financial services, healthcare, manufacturing, technology, telecommunications, media, and life sciences. The company also relies heavily on channel partners, including distributors, resellers, system integrators, OEMs, and cloud providers, to reach end users.
Buy storage systems, software, and services to modernize data infrastructure and support mixed workloads.
Buy secure, compliant storage and support for mission-critical environments.
Use NetApp offerings to deliver storage and data services within cloud environments.
Resell and integrate NetApp products, extending market reach and implementation capacity.
Strategy
NetApp’s strategy centers on hybrid cloud data infrastructure, combining storage systems, data services, and cloud operations across on-premises and public cloud environments. The company is also emphasizing simplified product and pricing structures, broader cloud integration, and services that help customers modernize legacy infrastructure, improve resilience, and support AI workloads.
NetApp competes by unifying storage and data services across on-premises and cloud environments.
Embedded relationships with major cloud providers extend reach and make the platform relevant in multicloud deployments.
Support, professional services, and cloud services can improve customer stickiness and smooth demand patterns.
Geography
Q1/2026NetApp sells in numerous countries worldwide and has offices in approximately 26 countries. Its reported revenue mix is broad-based, with the Americas representing 51%, EMEA 34%, and APAC 15% in fiscal 2025; the company also notes that demand across geographies was relatively consistent. Manufacturing and much of the supply chain are outside the U.S., which makes international operations an important part of the business model.
Share of the revenue the company reports by geography.
Risks
NetApp is exposed to international operating risk because a large share of revenue and manufacturing activity sits outside the U.S. The business also faces cybersecurity, supply-chain, and product-performance risks, which are especially important for a storage and data infrastructure vendor that handles mission-critical customer environments. Channel concentration, cloud-platform dependence, and seasonality can also affect revenue timing and customer demand.
- International operations and geopolitical exposureImpact: HighLikelihood: High
Revenue, sales centers, R&D, and manufacturing are spread across many countries, increasing exposure to sanctions, tariffs, and local instability.
Exposure - Cybersecurity and supply-chain attacksImpact: HighLikelihood: Medium
The company sells data infrastructure and relies on third-party providers, making it vulnerable to attacks that could disrupt products, services, or trust.
Exposure - Channel concentrationImpact: MediumLikelihood: Medium
A large share of sales flows through indirect channels, so partner execution and inventory decisions can materially affect demand recognition.
Exposure - Product defects or service failuresImpact: MediumLikelihood: Medium
Defects or perceived defects could harm customer relationships in mission-critical storage environments.
Exposure: Hybrid cloud products and support services
- Seasonality and intra-quarter booking patternsImpact: MediumLikelihood: Low
Revenue is often weighted toward the end of the quarter and the first fiscal quarter has historically been weaker.
Exposure: Quarterly revenue timing
Accounting
Judgemental itemsConfigured storage systems, support contracts, and cloud services may be recognized at different times and under different performance obligations.
Impact: Affects revenue timing, deferred revenue, and quarterly comparability
Revenue is historically weaker in the first fiscal quarter and often concentrated late in the quarter.
Impact: Can distort quarter-to-quarter comparisons and working capital trends
Acquired assets depend on management assumptions about future cash flows and fair value.
Impact: Could create impairment charges if assumptions weaken
Service contracts supported by third-party financing arrangements create balance sheet timing effects.
Impact: Influences liabilities, revenue deferral, and cash flow presentation
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Last updated: 24/09/2026