Super Micro Computer (SMCI) investor relations material

Executive summary

• FY26 revenue surged to $39.1B, up 78% year-over-year, with Q4 revenue at $11.1B, up 93% year-over-year and 9% sequentially.

• Q4'26 net income was $1.18B, up from $483M in Q3'26 and $195M in Q4'25; full-year net income was $2.2B, up from $1.0B in FY25.

• Diluted non-GAAP EPS for FY26 was $3.63, up from $2.06 in FY25; Q4 non-GAAP EPS was $1.70.

• Large-scale billion-dollar customers increased from four in FY25 to nine in FY26, with $60B+ in back orders and record backlog.

• Expanded product offerings and manufacturing footprint, including new DCBBS campus and global sites.

Financial highlights

• Q4 FY26 gross margin (non-GAAP) reached 17.6%, up 800bps year-over-year and 750bps sequentially.

• FY26 gross margin (non-GAAP) was 10.9%, down 30bps from FY25.

• Q4 cash flow from operations was $747M; FY26 cash flow from operations was negative $6.8B.

• Adjusted EBITDA for Q4 FY26 was $1.67B (15% of net sales); for FY26, $3.45B (8.8% of net sales).

• As of June 30, 2026, cash and equivalents were $7.5B; total bank debt and convertible notes were $8.7B.

Outlook and guidance

• Q1 FY27 revenue guidance: $14.5B–$15.5B; non-GAAP diluted EPS: $1.01–$1.10.

• FY27 revenue outlook: $65B–$72B.

• Guidance assumes a tax rate of ~20% and fully diluted share count of 745–761 million.