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Segment, Geographic, and Significant Customer Information | 9 Months Ended
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Jan. 24, 2025
Segment Reporting [Abstract] |
Segment, Geographic, and Significant Customer Information | 13. 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. 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 help customers modernize their data centers. This portfolio supports structured and unstructured data with unified storage optimized for flash, disk, and cloud storage to handle data-intensive workloads and applications. Hybrid Cloud is composed of software, hardware, and related support, as well as professional and other services. Public Cloud offers a portfolio of products delivered primarily as-a-service, including related support. This portfolio includes cloud storage and CloudOps 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):
| Three Months Ended January 24, 2025 |
| Hybrid Cloud |  |  | Public Cloud |  |  | Consolidated |
Product revenues | $ | 758 |  |  | $ | — |  |  | $ | 758 |
Support revenues |  | 621 |  |  |  | — |  |  |  | 621 |
Professional and other services revenues |  | 88 |  |  |  | — |  |  |  | 88 |
Public cloud revenues |  | — |  |  |  | 174 |  |  |  | 174 |
Net revenues |  | 1,467 |  |  |  | 174 |  |  |  | 1,641 |
Cost of product revenues |  | 328 |  |  |  | — |  |  |  | 328 |
Cost of support revenues |  | 48 |  |  |  | — |  |  |  | 48 |
Cost of professional and other services revenues |  | 63 |  |  |  | — |  |  |  | 63 |
Cost of public cloud revenues |  | — |  |  |  | 41 |  |  |  | 41 |
Segment cost of revenues |  | 439 |  |  |  | 41 |  |  |  | 480 |
Segment gross profit | $ | 1,028 |  |  | $ | 133 |  |  | $ | 1,161 |
Segment gross margin |  | 70.1 | % |  |  | 76.4 | % |  |  | 70.7 | %
Unallocated cost of revenues 1 |  |  |  |  |  |  |  | 16 |
Total gross profit |  |  |  |  |  |  | $ | 1,145 |
Total gross margin |  |  |  |  |  |  |  | 69.8 | %
1 Unallocated cost of revenues are composed of $8 million of stock-based compensation expense and $8 million of amortization of intangible assets. |
| Three Months Ended January 26, 2024 |
| Hybrid Cloud |  |  | Public Cloud |  |  | Consolidated |
Product revenues | $ | 747 |  |  | $ | — |  |  | $ | 747 |
Support revenues |  | 631 |  |  |  | — |  |  |  | 631 |
Professional and other services revenues |  | 77 |  |  |  | — |  |  |  | 77 |
Public cloud revenues |  | — |  |  |  | 151 |  |  |  | 151 |
Net revenues |  | 1,455 |  |  |  | 151 |  |  |  | 1,606 |
Cost of product revenues |  | 280 |  |  |  | — |  |  |  | 280 |
Cost of support revenues |  | 49 |  |  |  | — |  |  |  | 49 |
Cost of professional and other services revenues |  | 58 |  |  |  | — |  |  |  | 58 |
Cost of public cloud revenues |  | — |  |  |  | 52 |  |  |  | 52 |
Segment cost of revenues |  | 387 |  |  |  | 52 |  |  |  | 439 |
Segment gross profit | $ | 1,068 |  |  | $ | 99 |  |  | $ | 1,167 |
Segment gross margin |  | 73.4 | % |  |  | 65.6 | % |  |  | 72.7 | %
Unallocated cost of revenues 1 |  |  |  |  |  |  |  | 16 |
Total gross profit |  |  |  |  |  |  | $ | 1,151 |
Total gross margin |  |  |  |  |  |  |  | 71.7 | %
1 Unallocated cost of revenues are composed of $7 million of stock-based compensation expense and $9 million of amortization of intangible assets. |
| Nine Months Ended January 24, 2025 |
| Hybrid Cloud |  |  | Public Cloud |  |  | Consolidated |
Product revenues | $ | 2,195 |  |  | $ | — |  |  | $ | 2,195 |
Support revenues |  | 1,887 |  |  |  | — |  |  |  | 1,887 |
Professional and other services revenues |  | 257 |  |  |  | — |  |  |  | 257 |
Public cloud revenues |  | — |  |  |  | 501 |  |  |  | 501 |
Net revenues |  | 4,339 |  |  |  | 501 |  |  |  | 4,840 |
Cost of product revenues |  | 901 |  |  |  | — |  |  |  | 901 |
Cost of support revenues |  | 149 |  |  |  | — |  |  |  | 149 |
Cost of professional and other services revenues |  | 191 |  |  |  | — |  |  |  | 191 |
Cost of public cloud revenues |  | — |  |  |  | 131 |  |  |  | 131 |
Segment cost of revenues |  | 1,241 |  |  |  | 131 |  |  |  | 1,372 |
Segment gross profit | $ | 3,098 |  |  | $ | 370 |  |  | $ | 3,468 |
Segment gross margin |  | 71.4 | % |  |  | 73.9 | % |  |  | 71.7 | %
Unallocated cost of revenues 1 |  |  |  |  |  |  |  | 48 |
Total gross profit |  |  |  |  |  |  | $ | 3,420 |
Total gross margin |  |  |  |  |  |  |  | 70.7 | %
1 Unallocated cost of revenues are composed of $23 million of stock-based compensation expense and $25 million of amortization of intangible assets. |
| Nine Months Ended January 26, 2024 |
| Hybrid Cloud |  |  | Public Cloud |  |  | Consolidated |
Product revenues | $ | 2,043 |  |  | $ | — |  |  | $ | 2,043 |
Support revenues |  | 1,865 |  |  |  | — |  |  |  | 1,865 |
Professional and other services revenues |  | 233 |  |  |  | — |  |  |  | 233 |
Public cloud revenues |  | — |  |  |  | 459 |  |  |  | 459 |
Net revenues |  | 4,141 |  |  |  | 459 |  |  |  | 4,600 |
Cost of product revenues |  | 819 |  |  |  | — |  |  |  | 819 |
Cost of support revenues |  | 146 |  |  |  | — |  |  |  | 146 |
Cost of professional and other services revenues |  | 176 |  |  |  | — |  |  |  | 176 |
Cost of public cloud revenues |  | — |  |  |  | 155 |  |  |  | 155 |
Segment cost of revenues |  | 1,141 |  |  |  | 155 |  |  |  | 1,296 |
Segment gross profit | $ | 3,000 |  |  | $ | 304 |  |  | $ | 3,304 |
Segment gross margin |  | 72.4 | % |  |  | 66.2 | % |  |  | 71.8 | %
Unallocated cost of revenues 1 |  |  |  |  |  |  |  | 47 |
Total gross profit |  |  |  |  |  |  | $ | 3,257 |
Total gross margin |  |  |  |  |  |  |  | 70.8 | %
1 Unallocated cost of revenues are composed of $21 million of stock-based compensation expense and $26 million of amortization of intangible assets. |
Geographical Revenues and Certain Assets Revenues summarized by geographic region are as follows (in millions):
|  | Three Months Ended |  |  | Nine Months Ended |
|  | January 24, 2025 |  |  | January 26, 2024 |  |  | January 24, 2025 |  |  | January 26, 2024 |
United States, Canada and Latin America (Americas) |  | $ | 833 |  |  | $ | 802 |  |  | $ | 2,458 |  |  | $ | 2,345 |
Europe, Middle East and Africa (EMEA) |  |  | 559 |  |  |  | 567 |  |  |  | 1,615 |  |  |  | 1,538 |
Asia Pacific (APAC) |  |  | 249 |  |  |  | 237 |  |  |  | 767 |  |  |  | 717 |
Net revenues |  | $ | 1,641 |  |  | $ | 1,606 |  |  | $ | 4,840 |  |  | $ | 4,600 |
Americas revenues consist of sales to Americas commercial and U.S. public sector markets. Sales to customers inside the U.S. were $768 million and $744 million during the three months ended January 24, 2025 and January 26, 2024, respectively, and were $2,273 million and $2,172 million during t he nine months ended January 24, 2025 and January 26, 2024, 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):
|  | January 24, 2025 |  |  | April 26, 2024 |
U.S. |  | $ | 230 |  |  | $ | 1,142 |
International |  |  | 2,031 |  |  |  | 2,110 |
Total |  | $ | 2,261 |  |  | $ | 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):
|  | January 24, 2025 |  |  | April 26, 2024 |
U.S. |  | $ | 348 |  |  | $ | 378 |
International |  |  | 219 |  |  |  | 226 |
Total |  | $ | 567 |  |  | $ | 604 |
Significant Customers The following customers, each of which is a distributor, accounted for 10% or more of our net revenues:
|  | Three Months Ended |  |  | Nine Months Ended |
|  | January 24, 2025 |  |  | January 26, 2024 |  |  | January 24, 2025 |  |  | January 26, 2024 |
Arrow Electronics, Inc. |  |  | 20 | % |  |  | 21 | % |  |  | 21 | % |  |  | 22 | %
TD Synnex Corporation |  |  | 26 | % |  |  | 21 | % |  |  | 24 | % |  |  | 21 | %
The following customers accounted for 10% or more of accounts receivable as of at least one of the dates presented:
|  | January 24, 2025 |  |  | April 26, 2024 |
Arrow Electronics, Inc. |  |  | 6 | % |  |  | 10 | %
TD Synnex Corporation |  |  | 27 | % |  |  | 26 | %

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