Jun 2026 (Q4 FY26) — Aug 11, 2026
Super Micro Computer Q4 FY26 — Record Revenue and Strong AI Backlog
Read the full callSuper Micro Computer (SMCI) earnings
- Jun 2026
- Jun 2026 (Q4 FY26)
- Jun 2026
Super Micro Computer earnings: last reported Tue, 11 Aug 2026, for the quarter ended Jun 2026.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 11,120 | +93.2% YoY | Quarterly, as filed | Quarter to Jun 2026 | Revenue from operations as filed. |
| Operating margin | 13.4 | +9.4 pts YoY | Operating profit / revenue | Quarter to Jun 2026 | For the quarter; a change is in percentage points. |
| Net profit | 1,178 | +503.7% YoY | Quarterly, as filed | Quarter to Jun 2026 | Profit after tax as filed. |
Guidance
What management said, and what became of it
18 of 32 judged targets kept · 9 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Large-scale ($1B+ revenue) customer count | a few more than the FY25 count of 4 | Jun 2025 | Our customer base is diversifying, and we had 9 customers in fiscal year '26 with revenues greater than $1 billion each versus 4 such customers in fiscal year '25. | Achieved |
| DCBBS contribution to profit | at least double-digit contribution to profit by end of calendar 2026 | Dec 2025 | 20% should be not far away. | On Track |
| Q3 FY26 non-GAAP tax rate | 20.2% | Dec 2025 | resulting in a GAAP tax rate of 20.8% and a non-GAAP tax rate of 21.1% | Missed |
14 of Super Micro Computer, Inc.'s 41 targets were missed. See which ones, and which are quietly gone. The 3 above are the free sample; 38 more targets are in the full ledger.
Claimed
- Fiscal year 2026 revenue nearly doubled to $39 billion, up 78% year-over-year.
- Record order book and backlog with over $60 billion in new orders received during Q4 FY26.
- Non-GAAP gross margin expanded to 17.6% in Q4, a 750 basis point sequential improvement.
- Non-GAAP diluted EPS of $1.70 in Q4 exceeded guidance range of $0.65 to $0.79.
- Customer base is diversifying, with 9 customers in FY26 generating over $1 billion each, up from 4 in FY25.
Qualified
- Q4 revenue of $11.1 billion was at the low end of guidance ($11 billion to $12.5 billion) due to short-term customer delays related to power shortage, cooling, and networking.
- AI solutions contributed 60% of total revenue in Q4, down from over 80% in Q3, due to timing of large AI project ramps.
- Cash used in operating activities for fiscal year 2026 was $6.8 billion.
- Cash conversion cycle increased by 43 days to 149 days in Q4.
- Days payables outstanding decreased by 56 days to 29 days in Q4 due to significant reduction in average days' payables.
Price
$35.09 −1.93% · −$0.69
Performance −33.9% 1Y
1Y: $53.11 on 14 Oct 2025 → $35.09. High $55.04 (20 Oct 2025), low $20.53 (20 Mar 2026).
- Previous close
- $35.78
- 52-week range
- $20.53 – $55.04
- One year
- −34.95%
Overview
- Symbol
- SMCI
- Sector
- Information Technology
- Exchange
- US
- Currency
- USD
Guidance
What management said, and what became of it
18 of 32 judged targets kept · 9 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Large-scale ($1B+ revenue) customer count | a few more than the FY25 count of 4 | Jun 2025 | Our customer base is diversifying, and we had 9 customers in fiscal year '26 with revenues greater than $1 billion each versus 4 such customers in fiscal year '25. | Achieved |
| DCBBS contribution to profit | at least double-digit contribution to profit by end of calendar 2026 | Dec 2025 | 20% should be not far away. | On Track |
| Q3 FY26 non-GAAP tax rate | 20.2% | Dec 2025 | resulting in a GAAP tax rate of 20.8% and a non-GAAP tax rate of 21.1% | Missed |
Claimed
- Fiscal year 2026 revenue nearly doubled to $39 billion, up 78% year-over-year.
- Record order book and backlog with over $60 billion in new orders received during Q4 FY26.
- Non-GAAP gross margin expanded to 17.6% in Q4, a 750 basis point sequential improvement.
- Non-GAAP diluted EPS of $1.70 in Q4 exceeded guidance range of $0.65 to $0.79.
- Customer base is diversifying, with 9 customers in FY26 generating over $1 billion each, up from 4 in FY25.
Qualified
- Q4 revenue of $11.1 billion was at the low end of guidance ($11 billion to $12.5 billion) due to short-term customer delays related to power shortage, cooling, and networking.
- AI solutions contributed 60% of total revenue in Q4, down from over 80% in Q3, due to timing of large AI project ramps.
- Cash used in operating activities for fiscal year 2026 was $6.8 billion.
- Cash conversion cycle increased by 43 days to 149 days in Q4.
- Days payables outstanding decreased by 56 days to 29 days in Q4 due to significant reduction in average days' payables.
The full ledger
Open Super Micro Computer, Inc.’s full ledger
A free account opens 5 company ledgers a month. All 41 tracked commitments, with each call’s wording and source.
Call summaries
Mar 2026 (Q3 FY26) — May 5, 2026
Super Micro Computer, Inc. Q3 FY26 — Strong Gross Margin Recovery Amidst Revenue Delays and Legal Scrutiny
Read the full callEvery analysed call
Super Micro Computer earnings calls (SMCI)
Financials
What the filings say
Net profit, year on year: +504% (quarter to jun 2026 against jun 2025).
| Line item | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 5,937 | 5,678 | 4,600 | 5,757 | 5,018 | 12,682 | 10,243 | 11,120 |
| Operating profit | 509 | 369 | 147 | 228 | 182 | 474 | 626 | 1,488 |
| Operating margin | 8.6% | 6.5% | 3.2% | 4.0% | 3.6% | 3.7% | 6.1% | 13.4% |
| Other income | 7 | 13 | -18 | 17 | 51 | — | — | — |
| Interest | 17 | 7 | 13 | 22 | 25 | 25 | 64 | 80 |
| Profit before tax | 499 | 375 | 115 | 223 | 209 | 500 | 611 | 1,470 |
| Tax rate | 15.0% | 15.2% | 5.1% | 8.7% | 19.3% | 19.8% | 20.8% | 19.7% |
| Net profit | 424 | 321 | 109 | 195 | 168 | 401 | 483 | 1,178 |
| EPS ($ per share) | 0.72 | 0.54 | 0.18 | — | 0.28 | 0.67 | 0.81 | — |
| Line item | Jun 2019 | Jun 2020 | Jun 2021 | Jun 2022 | Jun 2023 | Jun 2024 | Jun 2025 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Equity capital | 350 | 390 | 438 | 482 | 538 | 2,831 | 2,866 | 4,601 |
| Reserves | 612 | 696 | 658 | 943 | 1,433 | 2,586 | 3,435 | 5,652 |
| Total liabilities | 741 | 853 | 1,146 | 1,779 | 1,703 | 4,409 | 7,717 | 15,466 |
| Fixed assets | 207 | 234 | 275 | 286 | 290 | 414 | 504 | 626 |
| Investments | — | — | — | — | — | — | 6 | 23 |
| Total assets | 1,683 | 1,919 | 2,242 | 3,205 | 3,675 | 9,826 | 14,018 | 29,945 |
| Line item | Jun 2019 | Jun 2020 | Jun 2021 | Jun 2022 | Jun 2023 | Jun 2024 | Jun 2025 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | 263 | -30 | 123 | -441 | 664 | -2,486 | 1,660 | -6,810 |
| Cash from investing | -25 | -44 | -58 | -46 | -39 | -194 | -183 | -200 |
| Cash from financing | -96 | 24 | -44 | 523 | -448 | 3,912 | 2,024 | 9,479 |
| Net cash flow | 142 | -50 | 21 | 35 | 172 | 1,229 | 3,502 | 2,459 |
| Capital expenditure | -25 | -44 | -58 | -45 | -37 | -124 | -127 | -162 |
| Free cash flow | 238 | -75 | 65 | -486 | 627 | -2,610 | 1,532 | -6,972 |
SMCI revenue by segment
| Segment | Q1 FY2025 | Q2 FY2025 | Q3 FY2025 | Q4 FY2025 | Q1 FY2026 | Q2 FY2026 | Q3 FY2026 | Q4 FY2026 | YoY growth latest quarter |
|---|---|---|---|---|---|---|---|---|---|
| Service and Software | — | — | — | — | 2% | 1% | 1% | 2% | — |
| Service | 1% | 1% | 1% | 1% | 1% | 1% | 1% | 1% | +127.9% |
Share of consolidated revenue by quarter. Q4 is the fiscal year less its first three quarters.
See how segments are shifting across companies → Segment Shift
Revenue by region
Q4 FY2026 · share of revenue
- US 71%
As SMCI cuts its regions in its filings; they can nest, so they need not add to 100%.
Insider filings
195 filings between Oct 30, 2025 and Oct 7, 2026.
Open market
decisions to buy or sellPurchases
None
No insider bought shares.
Sales
$27.91M
10 sales by 4 insiders
80% filed under a 10b5-1 plan — scheduled in advance, not decided on the day
Compensation
not trading decisions- 97
- Option exercise — converted options into shares
- 84
- Tax withheld — shares kept back by the company to cover tax
Also filed: 4 gifts.
Who traded
open market only| Insider | Bought | Sold | Last filing |
|---|---|---|---|
| Liu Liang Chiu-Chu Sara | — | $12.22M | Oct 7, 2026 |
| Liang Charles | — | $12.22M | Oct 7, 2026 |
| KAO GEORGE | — | $1.87M | Nov 24, 2025 |
| TUAN SHERMAN | — | $1.60M | Nov 26, 2025 |
Latest filings (50)
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| Oct 7, 2026 | Liu Liang Chiu-Chu Sara Director | Sale 10b5-1 plan | 100,000 | $4.50M |
| Oct 7, 2026 | Liang Charles President and CEO | Sale 10b5-1 plan | 100,000 | $4.50M |
| Sep 4, 2026 | Liang Charles President and CEO | Sale 10b5-1 plan | 100,000 | $4.00M |
| Sep 4, 2026 | Liu Liang Chiu-Chu Sara Director | Sale 10b5-1 plan | 100,000 | $4.00M |
| Sep 3, 2026 | Liu Liang Chiu-Chu Sara Director | Sale 10b5-1 plan | 57,435 | $2.16M |
| Sep 3, 2026 | Liu Liang Chiu-Chu Sara Director | Sale 10b5-1 plan | 42,565 | $1.56M |
| Sep 3, 2026 | Liang Charles President and CEO | Sale 10b5-1 plan | 42,565 | $1.56M |
| Sep 3, 2026 | Liang Charles President and CEO | Sale 10b5-1 plan | 57,435 | $2.16M |
| Aug 17, 2026 | Cheung Kenneth SVP, Chief Accounting Officer | Tax withheld | 808 | $30.9K |
| Aug 17, 2026 | Malyala Vikranth SVP, Chief Business Officer | Tax withheld | 3,053 | $116.9K |
| Aug 17, 2026 | Thauberger Matthew Chief Revenue Officer | Tax withheld | 1,145 | $43.8K |
| Aug 17, 2026 | Liang Charles President and CEO | Option exercise | 3,650 | — |
| Aug 17, 2026 | WEIGAND DAVID E SVP, Chief Financial Officer | Option exercise | 6,500 | — |
| Aug 17, 2026 | Thauberger Matthew Chief Revenue Officer | Option exercise | 2,250 | — |
| Aug 17, 2026 | Liu Liang Chiu-Chu Sara Director | Option exercise | 3,650 | — |
| Aug 17, 2026 | Malyala Vikranth SVP, Chief Business Officer | Option exercise | 6,000 | — |
| Aug 17, 2026 | Cheung Kenneth SVP, Chief Accounting Officer | Option exercise | 2,250 | — |
| Aug 17, 2026 | Xiao Jin Sr. Corporate VP, Engineering | Option exercise | 4,000 | — |
| Aug 17, 2026 | Xiao Jin Sr. Corporate VP, Engineering | Tax withheld | 1,436 | $55.0K |
| Aug 17, 2026 | Liang Charles President and CEO | Tax withheld | 1,970 | $75.4K |
| Aug 17, 2026 | Liu Liang Chiu-Chu Sara Director | Tax withheld | 1,970 | $75.4K |
| Aug 17, 2026 | WEIGAND DAVID E SVP, Chief Financial Officer | Tax withheld | 3,308 | $126.6K |
| Aug 10, 2026 | Xiao Jin Sr. Corporate VP, Engineering | Tax withheld | 707 | $22.2K |
| Aug 10, 2026 | Xiao Jin Sr. Corporate VP, Engineering | Option exercise | 1,970 | — |
| Aug 10, 2026 | WEIGAND DAVID E SVP, Chief Financial Officer | Tax withheld | 754 | $23.7K |
| Aug 10, 2026 | WEIGAND DAVID E SVP, Chief Financial Officer | Option exercise | 1,480 | — |
| Aug 10, 2026 | Cheung Kenneth SVP, Chief Accounting Officer | Tax withheld | 1,231 | $38.7K |
| Aug 10, 2026 | Cheung Kenneth SVP, Chief Accounting Officer | Tax withheld | 449 | $14.1K |
| Aug 10, 2026 | Cheung Kenneth SVP, Chief Accounting Officer | Option exercise | 3,429 | — |
| Aug 10, 2026 | Xiao Jin Sr. Corporate VP, Engineering | Option exercise | 1,024 | — |
| Aug 10, 2026 | Cheung Kenneth SVP, Chief Accounting Officer | Option exercise | 1,250 | — |
| Aug 10, 2026 | Liang Charles President and CEO | Tax withheld | 553 | $17.4K |
| Aug 10, 2026 | Liu Liang Chiu-Chu Sara Director | Tax withheld | 1,139 | $35.8K |
| Aug 10, 2026 | Thauberger Matthew Insider | Tax withheld | 219 | $6.9K |
| Aug 10, 2026 | Liang Charles President and CEO | Option exercise | 1,024 | — |
| Aug 10, 2026 | Liu Liang Chiu-Chu Sara Director | Option exercise | 2,110 | — |
| Aug 10, 2026 | Thauberger Matthew Insider | Option exercise | 430 | — |
| Aug 10, 2026 | Thauberger Matthew Insider | Tax withheld | 377 | $11.9K |
| Aug 10, 2026 | Liang Charles President and CEO | Option exercise | 2,110 | — |
| Aug 10, 2026 | Thauberger Matthew Insider | Option exercise | 740 | — |
| Aug 10, 2026 | Malyala Vikranth SVP, Chief Business Officer | Tax withheld | 580 | $18.2K |
| Aug 10, 2026 | Liang Charles President and CEO | Tax withheld | 1,139 | $35.8K |
| Aug 10, 2026 | Liu Liang Chiu-Chu Sara Director | Tax withheld | 553 | $17.4K |
| Aug 10, 2026 | Malyala Vikranth SVP, Chief Business Officer | Option exercise | 1,138 | — |
| Aug 10, 2026 | Malyala Vikranth SVP, Chief Business Officer | Tax withheld | 1,074 | $33.8K |
| Aug 10, 2026 | Malyala Vikranth SVP, Chief Business Officer | Option exercise | 2,110 | — |
| Aug 10, 2026 | Xiao Jin Sr. Corporate VP, Engineering | Tax withheld | 368 | $11.6K |
| Aug 10, 2026 | Liu Liang Chiu-Chu Sara Director | Option exercise | 1,024 | — |
| Jul 1, 2026 | Liang Charles President and CEO | Tax withheld | 448 | $12.4K |
| Jul 1, 2026 | Liang Charles President and CEO | Option exercise | 830 | — |
Source: SEC Form 4 filings. Form 4 reports transactions, not the cap table — absence of filings says nothing about how much an insider owns, and a quiet window is not a signal.
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