Filing Flows › NetApp (NTAP) › Q2 FY26
NetApp (NTAP) Q2 FY26 earnings results (second quarter fiscal 2026)
10-Q filed Nov 25, 2025
NetApp (NTAP) reported revenue of $1.7B for the second quarter fiscal 2026 (Q2 FY26), +3% from a year earlier and +22% from the quarter before. Operating margin was 23.4%, net earnings $305M (17.9% of revenue).
NetApp, Q2 FY26: revenue $1.7B (+3% year over year), operating margin 23.4%, net earnings $305M, operating cash flow $127M. The chart follows the revenue to costs, profit and cash.
| Q2 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.7B | +22% | +3% |
| Gross profit | $1.2B | +12% | +4% |
| Operating profit | $399M | +29% | +16% |
| Net earnings | $305M | +31% | +2% |
| Operating cash flow | $127M | -81% | — |
| Free cash flow | $78.0M | — | — |
What changed
Revenue was $1.7B in Q2 FY26, up 3% year over year and up 22% from the previous quarter. Service was the largest line at 54% of revenue. Service added $0.03B year over year (up 3%), 57% of the total change.
Gross margin was 72.0%, up 1.0 points from a year earlier. Operating profit was $0.40B, a 23.4% margin (up 2.6 points year over year). Of the extra revenue versus a year earlier, 115% reached operating profit, above the 21% margin then. Operating expenses fell 0% while revenue rose 3%. The fastest-growing cost line was Other operating costs (+77%). Net earnings were $0.30B, up 2% year over year. The effective tax rate was 22.4%.
Operating cash flow was $0.13B, 42% of net earnings. Non-cash charges added back $0.05B of depreciation and amortization and $0.10B of share-based compensation. Working capital and other items used $0.33B. After purchases of Property and Equipment ($0.05B), free cash flow as the company reports it was $0.08B.
Questions
What was NetApp's revenue in the second quarter fiscal 2026?
NetApp (NTAP) reported revenue of $1.7B for the second quarter fiscal 2026 (Q2 FY26), +3% from a year earlier and +22% from the quarter before.
Was NetApp profitable in the second quarter fiscal 2026?
Operating profit was $399M (23.4% of revenue) and net earnings $305M.
Source: NetApp 10-Q on SEC EDGAR.