NetApp, Inc. (NASDAQ:NTAP) Q4 2024 Earnings Conference Call May 30, 2024 5:00 PM ET

Company Participants

Kris Newton - VP, IR
George Kurian - CEO
Mike Berry - CFO

Conference Call Participants

David Vogt - UBS
Matt Sheerin - Stifel
Meta Marshall - Morgan Stanley
Samik Chatterjee - J.P. Morgan
Mehdi Hosseini - SIG
Steven Fox - Fox Advisors
Simon Leopold - Raymond James
Wamsi Mohan - Bank of America
Nehal Chokshi - Northland Capital Markets
Tim Long - Barclays
Ananda Baruah - Loop Capital
Eddie Pellon - TD Cowen
Asiya Merchant - Citigroup

Operator

Good day, and welcome to the NetApp Fourth Quarter Fiscal Year 2024 Earnings Call. All participants will be in listen-only mode. [Operator Instructions] After today's presentation, there will be an opportunity to ask questions. Please note, this event is being recorded.

I would now like to turn the conference over to Kris Newton, Vice President, Investor Relations. Please go ahead.

Kris Newton

Hi, everyone. Thanks for joining us. With me today are our CEO, George Kurian; and CFO, Mike Berry. This call is being webcast live and will be available for replay on our website at netapp.com.

During today's call, we will make forward-looking statements and projections with respect to our financial outlook and future prospects, including, without limitation, our guidance for the first quarter and fiscal year 2025; our expectations regarding future revenue, profitability and shareholder returns; and other growth initiatives and strategies.

These statements are subject to various risks and uncertainties, which may cause our actual results to differ materially. For more information, please refer to the documents we file from time-to-time with the SEC and on our website, including our most recent Form 10-K and Form 10-Q. We disclaim any obligation to update our forward-looking statements and projections.

During the call, all financial measures presented will be non-GAAP, unless otherwise indicated. Reconciliations of GAAP to non-GAAP estimates are available on our website.

I'll now turn the call over to George.

George Kurian

Thank you, Kris. Welcome, everyone. We concluded FY '24 on a high note, demonstrating robust performance in the fourth quarter and building positive momentum as we step into FY '25. Our revenue for both Q4 and FY '24 exceeded the midpoint of our guidance, reflecting the strong growth of our expanded all-flash portfolio. Throughout FY '24, we maintained a high level of operational discipline, leading to company records for annual gross margin, operating margin, earnings per share, operating cash flow, and free cash flow.