NTAPNetApp
NetApp, Inc. (NetApp, we, us, or the Company), headquartered in San Jose, California, is a global leader in Intelligent Data Infrastructure. 10-K, Item 1
- Employees
- 11,700
- Headquarters
- San Jose, CA
- CEO
- George Kurian
- Next results
- around Nov 24, 2026
What the 10-K filed 2026-06-05 says about risks that are not on the face of the balance sheet, from the notes to the financial statements, Legal Proceedings and the MD&A (and, for big customers and key suppliers, Business and Risk Factors). Tickdelta picks sentences with specifics (amounts, accruals, covenant ratios) and quotes them as filed. New marks a sentence with nothing like it in the 10-K filed 2025-06-09.
Big customers
1 newCustomers the company names as a large share of revenue or receivables (it must name any worth 10% of revenue).
New “In each of fiscal 2024, 2025 and 2026, revenues from the U.S. public sector markets (including the U.S. federal government and U.S. state governments, local municipalities and educational institutions) represented 11%, 11% and 10% of our net revenues, respectively.”
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“Two customers, each of which is a distributor, accounted for 10% or more of net revenues:”
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“Two customers, each of which is a distributor, accounted for 10% or more of our net revenues:”
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“Two customers, each of which is a distributor, accounted for 10% or more of accounts receivable:”
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Key suppliers
Parts or manufacturing that depend on one or a few suppliers.
“Limited number of suppliers for certain components;”
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“We rely on a limited number of suppliers for critical product components.”
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“We depend on a limited number of suppliers for drives and other components used in assembling our products, including some single-source suppliers.”
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“However, we rely on a limited number of suppliers for certain key components and a few key contract manufacturers to manufacture most of our products; any disruption, or termination of these arrangements could materially adversely affect our operating results.”
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Lawsuits and legal claims
Pending cases, settlements and what the company has set aside for them.
“Such estimates include, but are not limited to, revenue recognition, reserves and allowances; inventory valuation; valuation of goodwill and intangibles; restructuring reserves; employee benefit accruals; stock-based compensation; loss contingencies; investment impairments; income taxes; and fair value measurements.”
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Guarantees and indemnities
Promises to pay someone else's debts or losses if they cannot.
No specific sentence about this in the 10-K.
Debt covenants
Conditions in loan agreements that, if broken, can make debt due early.
“As of April 24, 2026, we were in compliance with all covenants associated with the Senior Notes.”
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Commitments off the balance sheet
Contracts the company must pay for later: purchase obligations, take-or-pay deals.
“These off-balance sheet purchase commitments totaled $1.4 billion at April 24, 2026, of which $1.1 billion is due in fiscal 2027, with the remainder due thereafter.”
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“As of April 24, 2026, we had $1.0 billion in non-cancelable purchase commitments for inventory.”
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“As of April 24, 2026, we had $0.4 billion in other purchase obligations.”
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“Of the total $1.4 billion in purchase commitments, $1.1 billion is due in fiscal 2027, with the remainder due thereafter.”
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Sentences are chosen by their words, not read by AI, so some can be off topic. Always check the filing. Open the 10-K ↗
Work on NTAP in a spreadsheet:
Excel workbook (a sheet per section, ten years by column, charts, links to the filings) ·
CSV.
For a Google Sheet that stays up to date, paste =IMPORTDATA("https://tickdelta.com/company/NTAP/export.csv") into a cell.