NetApp, Inc. reports news about enterprise data storage, hybrid cloud infrastructure, and its Intelligent Data Infrastructure strategy. Company updates commonly cover the NetApp data platform, ONTAP data management software, all-flash storage, public-cloud storage services, and technologies that connect, protect, and activate data across clouds, workloads, and enterprise environments.
Recurring announcements include financial results webcasts, Google Cloud collaborations, Google Cloud NetApp Volumes enhancements, NetApp Data Migrator, AI-driven operations, sovereign and air-gapped cloud deployments using AFF, StorageGRID, and Trident, and ransomware resilience services for ONTAP environments.
NetApp (NASDAQ: NTAP) has announced it will release its first quarter fiscal year 2025 financial results on Wednesday, August 28, 2024, after market close. The company will host a conference call and Webcast at 2:30 p.m. Pacific Time to discuss the results and provide insights on market dynamics. Investors can access the live Webcast at investors.netapp.com, with an audio replay available after 4:30 p.m. Pacific Time. NetApp has also provided future targeted release dates for its quarterly results throughout fiscal years 2025 and 2026.
NetApp (NASDAQ: NTAP) has nominated June Yang for election as an independent director at its annual stockholders meeting on September 11, 2024. Yang, who recently served as Vice President of Cloud AI and Industry Solutions at Google Cloud, brings extensive experience in cloud computing, AI, and machine learning. Her background includes leadership roles at Google Cloud and VMware, focusing on compute infrastructure and product management.
Mike Nevens, NetApp's Board Chairman, expressed confidence that Yang's expertise will be invaluable for the company's growth and innovation. Yang currently serves on the boards of UiPath, Cradles to Crayons, and Ahead Technology. She stated her excitement about potentially joining NetApp's board and contributing to its strategic vision in data management.
NetApp has introduced new capabilities aimed at empowering customers to manage data-intensive workloads like GenAI and VMware environments more efficiently. Enhancements to NetApp's data and storage services aim to reduce resources and risks for managing these workloads across complex hybrid multicloud environments.
The launch includes the NetApp BlueXP Workload Factory for AWS, automating cloud resource management using industry best practices. The NetApp GenAI Toolkit integrates with Azure NetApp Files, facilitating secure retrieval-augmented generation workflows. Additionally, a joint reference architecture with Amazon Bedrock and Amazon FSx for NetApp ONTAP offers developers guidance on utilizing proprietary data in GenAI data pipelines.
Further updates feature enhanced Amazon FSx for ONTAP cloud storage, offering significant performance boosts, and expanded NetApp BlueXP disaster recovery support for VMFS datastores. These improvements aim to help users optimize deployment time, cost, performance, and data protection for strategic workloads.
NetApp (NASDAQ: NTAP) and Evercore ISI are set to host a tech talk focusing on NetApp’s AI strategy and direction. The event will feature Russell Fishman, senior director, product management global innovation, solutions, and alliances, and Hoseb Dermanilian, senior director, worldwide sales specialist, AI solutions.
Moderator Amit Daryanani, senior managing director at Evercore ISI Institutional Equities, will oversee a question and answer session following the introductory remarks from NetApp.
No new financial information will be disclosed. The tech talk will take place on July 10, 2024, at 1:00 p.m. Pacific Time / 4:00 p.m. Eastern Time and can be accessed through the NetApp Investor Relations website.
NetApp (NASDAQ: NTAP) has announced that its ONTAP Autonomous Ransomware Protection with Artificial Intelligence (ARP/AI) has received a top-tier AAA rating from SE Labs. This recognition stems from the solution's 99% recall rate in detecting ransomware and its 100% accuracy in identifying legitimate files, with no false positives. The AI-powered ARP/AI provides real-time detection and response, mitigating the risks of ransomware by integrating directly into primary storage systems. This solution has been rigorously tested against hundreds of ransomware variants and is currently available in tech preview.
Spot by NetApp has achieved FinOps Foundation's Certified Platform certification, validating its capability in cloud financial management. The company has launched two new solutions, Cost Intelligence and Billing Engine, which provide comprehensive insights and control over cloud expenses. These tools help organizations optimize cloud spend, reduce waste, and improve financial accountability. The certification and new products enhance Spot by NetApp's holistic FinOps portfolio, aimed at maximizing cloud investments and driving business growth.
NetApp (NASDAQ: NTAP), a leading data infrastructure company, has announced the appointment of Mike Sakalas as the Vice President of U.S. Enterprise Sales. Sakalas, who brings over two decades of IT industry experience, will report to Riccardo Di Blasio, SVP of North America Sales.
His role includes developing and executing NetApp's U.S. enterprise strategy and working closely with internal teams and partners to enhance customer engagements. Before joining NetApp, Sakalas held leadership roles at Pure Storage, EMC, and Southern Cross Computer Systems.
This strategic hire aims to drive aggressive growth and customer success in the U.S. market.
NetApp (NASDAQ: NTAP), a leading intelligent data infrastructure company, announced it will host an investor day on June 11, 2024, in New York City from 8:30 a.m. to 11:45 a.m. Eastern Time. The event will be webcast live on NetApp's investor relations website. A replay will be available 24 hours after the event. Pre-registration is required for in-person attendance, and financial analysts and institutional investors interested in attending should contact Billie Fagenstrom for registration details.
NetApp (NASDAQ: NTAP) is now the exclusive Intelligent Data Infrastructure partner for Porsche Motorsport. This partnership extends to the Team Porsche Penske Motorsport in the IMSA WeatherTech SportsCar Championship and the World Endurance Championship, as well as continuing support for the TAG Heuer Porsche Formula E Team. NetApp's technology enables Porsche Motorsport to access and analyze data in real time, enhancing race strategies and performance. Key technologies include Cloud Volumes ONTAP, BlueXP, and Cloud Backup. The collaboration has already contributed to four wins in the 2023-2024 Formula E season, positioning the team competitively.
NetApp (NASDAQ: NTAP) reported its fourth quarter and fiscal year 2024 results, showcasing net revenues of $1.67 billion for Q4 and $6.27 billion for the fiscal year, reflecting a 1% year-over-year decrease. The company achieved record all-flash array annualized revenue run rate of $3.6 billion, a 17% increase. Fiscal year GAAP consolidated gross margins were 71%, non-GAAP margins at 72%, and GAAP net income per share at $4.63, with non-GAAP net income per share at $6.46. The company announced a new share repurchase authorization of $1 billion and increased its quarterly dividend to $0.52 per share.
In Q4, net revenues were $1.67 billion, up 6% year-over-year. GAAP net income was $291 million, and non-GAAP net income was $382 million. NetApp also reported cash, cash equivalents, and investments totaling $3.25 billion by the end of Q4. For fiscal year 2025, NetApp forecasts net revenues between $6.45 billion and $6.65 billion and GAAP earnings per share between $4.96 and $5.16.