NetApp reported a solid QQ2 2025 performance with revenue of $1,658 million, up 3.24% year over year and 7.59% quarter over quarter. Gross margin reached 70.99%, with operating margin at 20.81% and net margin at 18.03%, supported by disciplined expense management alongside ongoing investment in software and cloud-enabled offerings. Net income was $299 million and diluted EPS stood at $1.42 (GAAP). Free cash flow was $60 million, while operating cash flow was $105 million, underscoring durable cash generation despite investing activity. The balance sheet remains robust with cash and cash equivalents of about $1.48 billion and total liquidity of roughly $2.22 billion, enabling a $300 million share repurchase and a quarterly dividend of $106 million. Total assets were $9.00 billion against liabilities of $8.11 billion, with a reported net debt of $0.77 billion. Looking ahead, NetApp continues to leverage its hybrid cloud data management platform to monetize multi-cloud data workloads, relying on robust gross margins and steady cash flow while navigating a competitive environment in enterprise storage and cloud services.