Filing Flows › NetApp (NTAP) › Q4 FY26 › vs Q3 FY26
NetApp (NTAP) Q4 FY26 vs Q3 FY26 (quarter over quarter)
NetApp's revenue rose $235M (+14%) from $1.7B in Q3 FY26 to $1.9B in Q4 FY26. The biggest changes: Product +$180M (+23%); Service +$55.0M (+6%). Gross margin 70.1% against 70.6% (-0.5 pts).
NetApp, Q4 FY26: revenue $1.9B (+12% year over year), operating margin 27.3%, net earnings $404M, operating cash flow $950M. The chart draws each line against Q3 FY26, the increases inside each band.
Margins
| Q4 FY26 | Q3 FY26 | Change | |
|---|---|---|---|
| Gross margin | 70.1% | 70.6% | -0.5 pts |
| Operating margin | 27.3% | 25.3% | +2.0 pts |
| Net margin | 20.7% | 19.5% | +1.2 pts |
Every line
| Line | Q4 FY26 | Q3 FY26 | Change | % |
|---|---|---|---|---|
| Service | $982M | $927M | $55.0M | +6% |
| Product | $966M | $786M | $180M | +23% |
| Revenue | $1.9B | $1.7B | $235M | +14% |
| Gross profit | $1.4B | $1.2B | $156M | +13% |
| Cost of revenue | $583M | $504M | $79.0M | +16% |
| Operating profit | $532M | $434M | $98.0M | +23% |
| Operating expenses | $833M | $775M | $58.0M | +7% |
| Pre-tax earnings | $518M | $433M | $85.0M | +20% |
| Other expense, net | $14.0M | $1.0M | $13.0M | 14× |
| Net earnings | $404M | $334M | $70.0M | +21% |
| Income tax | $114M | $99.0M | $15.0M | +15% |
| Depreciation & amortization | $49.0M | $48.0M | $1.0M | +2% |
| Share-based compensation | $100M | $97.0M | $3.0M | +3% |
| Working capital & other | $397M | −$162M | $559M | — |
| Operating cash flow | $950M | $317M | $633M | +200% |
Questions
How much did NetApp's revenue grow quarter over quarter in Q4 FY26?
NetApp's revenue rose $235M (+14%) from $1.7B in Q3 FY26 to $1.9B in Q4 FY26.
What drove NetApp's revenue change in Q4 FY26?
Product +$180M (+23%); Service +$55.0M (+6%).