Q1 FY27 · Ended Jul 31, 2026 · View SEC filing
Sales spending lagged far behind revenue growth
A sales force sized for last year's volume carried the jump, so operating income rose 56.6%.
For investorsDoes the margin survive a normal-length quarter?
For foundersTurning a one-time box sale into years of revenue
Product revenue rose 50.9% to nearly half of sales, yet gross margin held at 70.1%.
Net income rose 60.9%, but free cash flow fell as purchased-component inventory built up.
Support recurs for as long as customers run their systems, and services cost fell while services revenue grew.
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Business Lens describes NetApp from its own filings with the SEC. It is not a view on its shares, a target, or advice to buy, sell or hold anything; figures are as filed and may be restated by the company later. The filing is linked above.
