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Segment, Geographic, and Significant Customer Information
 6 Months Ended
Oct. 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 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):

 

 

Three Months Ended October 24, 2025

 

 

Hybrid Cloud

 

 

Public Cloud

 

 

Total

 

Product revenues

$

788

 

 

$

—

 

 

$

788

 

Support revenues

 

647

 

 

 

—

 

 

 

647

 

Professional and other services revenues

 

99

 

 

 

—

 

 

 

99

 

Public cloud revenues

 

—

 

 

 

171

 

 

 

171

 

     Net revenues

 

1,534

 

 

 

171

 

 

 

1,705

 

Cost of product revenues

 

319

 

 

 

—

 

 

 

319

 

Cost of support revenues

 

51

 

 

 

—

 

 

 

51

 

Cost of professional and other services revenues

 

69

 

 

 

—

 

 

 

69

 

Cost of public cloud revenues

 

—

 

 

 

29

 

 

 

29

 

     Segment cost of revenues

 

439

 

 

 

29

 

 

 

468

 

         Segment gross profit

$

1,095

 

 

$

142

 

 

$

1,237

 

         Segment gross margin

 

71.4

%

 

 

83.0

%

 

 

72.6

%

            Unallocated cost of revenues1

 

 

 

 

 

 

 

10

 

                   Total gross profit

 

 

 

 

 

 

$

1,227

 

                   Total gross margin

 

 

 

 

 

 

 

72.0

%

1 Unallocated cost of revenues are composed of $7 million of stock-based compensation expense and $3 million of amortization of intangible assets.

 

 

 

Three Months Ended October 25, 2024

 

 

Hybrid Cloud

 

 

Public Cloud

 

 

Total

 

Product revenues

$

768

 

 

$

—

 

 

$

768

 

Support revenues

 

635

 

 

 

—

 

 

 

635

 

Professional and other services revenues

 

87

 

 

 

—

 

 

 

87

 

Public cloud revenues

 

—

 

 

 

168

 

 

 

168

 

     Net revenues

 

1,490

 

 

 

168

 

 

 

1,658

 

Cost of product revenues

 

305

 

 

 

—

 

 

 

305

 

Cost of support revenues

 

51

 

 

 

—

 

 

 

51

 

Cost of professional and other services revenues

 

64

 

 

 

—

 

 

 

64

 

Cost of public cloud revenues

 

—

 

 

 

44

 

 

 

44

 

     Segment cost of revenues

 

420

 

 

 

44

 

 

 

464

 

         Segment gross profit

$

1,070

 

 

$

124

 

 

$

1,194

 

         Segment gross margin

 

71.8

%

 

 

73.8

%

 

 

72.0

%

            Unallocated cost of revenues1

 

 

 

 

 

 

 

17

 

                   Total gross profit

 

 

 

 

 

 

$

1,177

 

                   Total gross margin

 

 

 

 

 

 

 

71.0

%

1 Unallocated cost of revenues are composed of $8 million of stock-based compensation expense and $9 million of amortization of intangible assets.

 

 

 

Six Months Ended October 24, 2025

 

 

Hybrid Cloud

 

 

Public Cloud

 

 

Total

 

Product revenues

$

1,442

 

 

$

—

 

 

$

1,442

 

Support revenues

 

1,294

 

 

 

—

 

 

 

1,294

 

Professional and other services revenues

 

196

 

 

 

—

 

 

 

196

 

Public cloud revenues

 

—

 

 

 

332

 

 

 

332

 

     Net revenues

 

2,932

 

 

 

332

 

 

 

3,264

 

Cost of product revenues

 

620

 

 

 

—

 

 

 

620

 

Cost of support revenues

 

101

 

 

 

—

 

 

 

101

 

Cost of professional and other services revenues

 

137

 

 

 

—

 

 

 

137

 

Cost of public cloud revenues

 

—

 

 

 

61

 

 

 

61

 

     Segment cost of revenues

 

858

 

 

 

61

 

 

 

919

 

         Segment gross profit

$

2,074

 

 

$

271

 

 

$

2,345

 

         Segment gross margin

 

70.7

%

 

 

81.6

%

 

 

71.8

%

            Unallocated cost of revenues1

 

 

 

 

 

 

 

20

 

                   Total gross profit

 

 

 

 

 

 

$

2,325

 

                   Total gross margin

 

 

 

 

 

 

 

71.2

%

1 Unallocated cost of revenues are composed of $14 million of stock-based compensation expense and $6 million of amortization of intangible assets.

 

 

 

Six Months Ended October 25, 2024

 

 

Hybrid Cloud

 

 

Public Cloud

 

 

Total

 

Product revenues

$

1,437

 

 

$

—

 

 

$

1,437

 

Support revenues

 

1,266

 

 

 

—

 

 

 

1,266

 

Professional and other services revenues

 

169

 

 

 

—

 

 

 

169

 

Public cloud revenues

 

—

 

 

 

327

 

 

 

327

 

     Net revenues

 

2,872

 

 

 

327

 

 

 

3,199

 

Cost of product revenues

 

573

 

 

 

—

 

 

 

573

 

Cost of support revenues

 

101

 

 

 

—

 

 

 

101

 

Cost of professional and other services revenues

 

128

 

 

 

—

 

 

 

128

 

Cost of public cloud revenues

 

—

 

 

 

90

 

 

 

90

 

     Segment cost of revenues

 

802

 

 

 

90

 

 

 

892

 

         Segment gross profit

$

2,070

 

 

$

237

 

 

$

2,307

 

         Segment gross margin

 

72.1

%

 

 

72.5

%

 

 

72.1

%

            Unallocated cost of revenues1

 

 

 

 

 

 

 

32

 

                   Total gross profit

 

 

 

 

 

 

$

2,275

 

                   Total gross margin

 

 

 

 

 

 

 

71.1

%

1 Unallocated cost of revenues are composed of $15 million of stock-based compensation expense and $17 million of amortization of intangible assets.

 

Geographical Revenues and Certain Assets

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

 

 

Three Months Ended

 

 

Six Months Ended

 

 

 

October 24, 2025

 

 

October 25, 2024

 

 

October 24, 2025

 

 

October 25, 2024

 

United States, Canada and Latin America (Americas)

 

$

863

 

 

$

862

 

 

$

1,654

 

 

$

1,625

 

Europe, Middle East and Africa (EMEA)

 

 

572

 

 

 

543

 

 

 

1,075

 

 

 

1,056

 

Asia Pacific (APAC)

 

 

270

 

 

 

253

 

 

 

535

 

 

 

518

 

Net revenues

 

$

1,705

 

 

$

1,658

 

 

$

3,264

 

 

$

3,199

 

Americas revenues consist of sales to Americas commercial and U.S. public sector markets. Sales to customers inside the U.S. were $820 million and $807 million during the three months ended October 24, 2025 and October 25, 2024, respectively, and were $1,566 million and $1,506 million during the six months ended October 24, 2025 and October 25, 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):

 

 

 

October 24, 2025

 

 

April 25, 2025

 

U.S.

 

$

716

 

 

$

1,320

 

International

 

 

2,298

 

 

 

2,526

 

Total

 

$

3,014

 

 

$

3,846

 

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):

 

 

 

October 24, 2025

 

 

April 25, 2025

 

U.S.

 

$

346

 

 

$

344

 

International

 

 

222

 

 

 

219

 

Total

 

$

568

 

 

$

563

 

 

Significant Customers

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

 

 

 

Three Months Ended

 

 

Six Months Ended

 

 

 

October 24, 2025

 

 

October 25, 2024

 

 

October 24, 2025

 

 

October 25, 2024

 

Arrow Electronics, Inc.

 

 

21

%

 

 

21

%

 

 

22

%

 

 

22

%

TD Synnex Corporation

 

 

22

%

 

 

24

%

 

 

22

%

 

 

23

%

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

 

 

 

October 24, 2025

 

 

April 25, 2025

 

Arrow Electronics, Inc.

 

*

 

 

 

10

%

TD Synnex Corporation

 

 

24

%

 

 

27

%

    * Customer accounted for less than 10% of accounts receivable.