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Segment, Geographic, and Significant Customer Information
 12 Months Ended
Apr. 25, 2025
Segment Reporting [Abstract]  
Segment, Geographic, and Significant Customer Information

15. Segment, Geographic, and Significant Customer Information

Our operations are organized into two segments: Hybrid Cloud and Public Cloud. The two segments are based on the information reviewed by our Chief Operating Decision Maker (CODM), who is the Chief Executive Officer, to evaluate results and allocate resources. The CODM measures performance of each segment based on segment revenue and segment gross profit by comparing actual revenue and gross profit results to historical results and previously forecasted financial information. We do not allocate to our segments certain cost of revenues which we manage at the corporate level. These unallocated costs include stock-based compensation and amortization of intangible assets. We do not allocate assets to our segments.

Hybrid Cloud offers a unified data storage portfolio of storage management and infrastructure solutions that helps customers modernize their data centers. This portfolio accommodates both structured and unstructured data with unified storage optimized for flash, disk, and cloud storage, capable of handling data-intensive workloads and applications. Hybrid Cloud includes software, hardware, and related support, along with professional and other services.

Public Cloud offers a portfolio of products delivered primarily as-a-service, including related support. This portfolio includes cloud storage, data services, and operational services. Public Cloud includes certain reseller arrangements in which the timing of our consideration follows the end user consumption of the reseller services.

Segment Revenues and Gross Profit

Financial information by segment is as follows (in millions, except percentages):

 

Year Ended April 25, 2025

 

 

Hybrid Cloud

 

 

Public Cloud

 

 

Total

 

Product revenues

$

3,040

 

 

$

—

 

 

$

3,040

 

Support revenues

 

2,512

 

 

 

—

 

 

 

2,512

 

Professional and other services revenues

 

355

 

 

 

—

 

 

 

355

 

Public cloud revenues

 

—

 

 

 

665

 

 

 

665

 

     Net revenues

 

5,907

 

 

 

665

 

 

 

6,572

 

Cost of product revenues

 

1,278

 

 

 

—

 

 

 

1,278

 

Cost of support revenues

 

197

 

 

 

—

 

 

 

197

 

Cost of professional and other services revenues

 

261

 

 

 

—

 

 

 

261

 

Cost of public cloud revenues

 

—

 

 

 

165

 

 

 

165

 

     Segment cost of revenues

 

1,736

 

 

 

165

 

 

 

1,901

 

         Segment gross profit

$

4,171

 

 

$

500

 

 

$

4,671

 

         Segment gross margin

 

70.6

%

 

 

75.2

%

 

 

71.1

%

            Unallocated cost of revenues1

 

 

 

 

 

 

 

58

 

                   Total gross profit

 

 

 

 

 

 

$

4,613

 

                   Total gross margin

 

 

 

 

 

 

 

70.2

%

1 Unallocated cost of revenues are composed of $30 million of stock-based compensation expense and $28 million of amortization of intangible assets.

 

 

 

Year Ended April 26, 2024

 

 

Hybrid Cloud

 

 

Public Cloud

 

 

Total

 

Product revenues

$

2,849

 

 

$

—

 

 

$

2,849

 

Support revenues

 

2,488

 

 

 

—

 

 

 

2,488

 

Professional and other services revenues

 

320

 

 

 

—

 

 

 

320

 

Public cloud revenues

 

—

 

 

 

611

 

 

 

611

 

     Net revenues

 

5,657

 

 

 

611

 

 

 

6,268

 

Cost of product revenues

 

1,131

 

 

 

—

 

 

 

1,131

 

Cost of support revenues

 

195

 

 

 

—

 

 

 

195

 

Cost of professional and other services revenues

 

243

 

 

 

—

 

 

 

243

 

Cost of public cloud revenues

 

—

 

 

 

203

 

 

 

203

 

     Segment cost of revenues

 

1,569

 

 

 

203

 

 

 

1,772

 

         Segment gross profit

$

4,088

 

 

$

408

 

 

$

4,496

 

         Segment gross margin

 

72.3

%

 

 

66.8

%

 

 

71.7

%

            Unallocated cost of revenues1

 

 

 

 

 

 

 

63

 

                   Total gross profit

 

 

 

 

 

 

$

4,433

 

                   Total gross margin

 

 

 

 

 

 

 

70.7

%

1 Unallocated cost of revenues are composed of $29 million of stock-based compensation expense and $34 million of amortization of intangible assets.

 

 

 

 

Year Ended April 28, 2023

 

 

Hybrid Cloud

 

 

Public Cloud

 

 

Total

 

Product revenues

$

3,049

 

 

$

—

 

 

$

3,049

 

Support revenues

 

2,419

 

 

 

—

 

 

 

2,419

 

Professional and other services revenues

 

319

 

 

 

—

 

 

 

319

 

Public cloud revenues

 

—

 

 

 

575

 

 

 

575

 

     Net revenues

 

5,787

 

 

 

575

 

 

 

6,362

 

Cost of product revenues

 

1,511

 

 

 

—

 

 

 

1,511

 

Cost of support revenues

 

181

 

 

 

—

 

 

 

181

 

Cost of professional and other services revenues

 

211

 

 

 

—

 

 

 

211

 

Cost of public cloud revenues

 

—

 

 

 

184

 

 

 

184

 

     Segment cost of revenues

 

1,903

 

 

 

184

 

 

 

2,087

 

         Segment gross profit

$

3,884

 

 

$

391

 

 

$

4,275

 

         Segment gross margin

 

67.1

%

 

 

68.0

%

 

 

67.2

%

            Unallocated cost of revenues1

 

 

 

 

 

 

 

66

 

                   Total gross profit

 

 

 

 

 

 

$

4,209

 

                   Total gross margin

 

 

 

 

 

 

 

66.2

%

1 Unallocated cost of revenues are composed of $24 million of stock-based compensation expense and $42 million of amortization of intangible assets.

 

Geographical Revenues and Certain Assets

Revenues summarized by geographic region are as follows (in millions):

 

 

Year Ended

 

 

 

April 25, 2025

 

 

April 26, 2024

 

 

April 28, 2023

 

United States, Canada and Latin America (Americas)

 

$

3,347

 

 

$

3,193

 

 

$

3,237

 

Europe, Middle East and Africa (EMEA)

 

 

2,204

 

 

 

2,104

 

 

 

2,148

 

Asia Pacific (APAC)

 

 

1,021

 

 

 

971

 

 

 

977

 

Net revenues

 

$

6,572

 

 

$

6,268

 

 

$

6,362

 

Americas revenues consist of sales to Americas commercial and U.S. public sector markets. Sales to customers inside the U.S. were $3,092 million, $2,952 million and $3,007 million during fiscal 2025, 2024 and 2023, respectively.

The majority of our assets, excluding cash, cash equivalents, short-term investments and accounts receivable, were attributable to our domestic operations. The following table presents cash, cash equivalents and short-term investments held in the U.S. and internationally in various foreign subsidiaries (in millions):

 

 

April 25, 2025

 

 

April 26, 2024

 

U.S.

 

$

1,320

 

 

$

1,142

 

International

 

 

2,526

 

 

 

2,110

 

Total

 

$

3,846

 

 

$

3,252

 

With the exception of property and equipment, we do not identify or allocate our long-lived assets by geographic area. The following table presents property and equipment information for geographic areas based on the physical location of the assets (in millions):

 

 

April 25, 2025

 

 

April 26, 2024

 

U.S.

 

$

344

 

 

$

378

 

International

 

 

219

 

 

 

226

 

Total

 

$

563

 

 

$

604

 

 

Significant Customers

The following customers, each of which is a distributor, accounted for 10% or more of our net revenues:

 

 

 

Year Ended

 

 

 

April 25, 2025

 

 

April 26, 2024

 

 

April 28, 2023

 

Arrow Electronics, Inc.

 

 

21

%

 

 

22

%

 

 

24

%

TD Synnex Corporation (previously presented as Tech Data Corporation)

 

 

24

%

 

 

22

%

 

 

21

%

 

The following customers accounted for 10% or more of accounts receivable:

 

 

April 25, 2025

 

 

April 26, 2024

 

Arrow Electronics, Inc.

 

 

10

%

 

 

10

%

TD Synnex Corporation

 

 

27

%

 

 

26

%