📈 Price History

Ratio Health

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By Category

📊 Sector Averages

About

Super Micro Computer, Inc., together with its subsidiaries, develops and sells server and storage solutions based on modular and open-standard architecture in the United States, Asia, Europe, and internationally.

Key Ratios Snapshot

📈 Growth Pattern

⚡ Latest Quarter —

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📊 Quick Scorecard

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⭐ Superinvestors Holding SMCI

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Manager	Shares	Value	% of Fund	Period
Steve Cohen Point72 Asset Management	12.50M	$10.9M	0.01%	Mar 2026
Jim Simons Renaissance Technologies LLC	59.4K	$1.4M	0.00%	Mar 2026
Steve Cohen Point72 Asset Management	32.0K	$729K	0.00%	Mar 2026

SEC Form 13F data. 45-day lag from quarter end.

🔍 Concall Decoded

🎙 Management Tone Tracker Mixed ↓ Deteriorating 4 quarters analysed

Q4 2025

Confident Specific

Management provided specific revenue guidance ($6-7B for Q1, at least $33B for FY2026), cited concrete product milestones (DCBBS components shipping, B300/GB300 readiness), and directly addressed analyst questions about bottlenecks and customer cycles, while also acknowledging tariff uncertainty and near-term margin stability.

Q1 2026

Mixed

Management expresses strong confidence in future growth and record orders, but also acknowledges significant margin compression and operational challenges from a massive ramp. Language is optimistic about revenue ($36B guidance raised) yet defensive about gross margins (down 300 bps in Q2) and cash flow negative quarter.

Q2 2026

Confident Specific

Management repeatedly used phrases like 'record $12.68 billion in revenue', '123% year-over-year growth', and 'confident to guide at least $12.3 billion for Q3' to convey strong momentum, while also specifically acknowledging margin headwinds and outlining a clear DCBBS-driven recovery plan.

Q3 2026 latest

Mixed

Management expressed confidence in business growth and margin recovery (e.g., 'significant business value growth', 'margin recovery...improved significantly'), but was cautious and defensive regarding the indictment ('I am personally shocked and saddened by these alleged actions') and supply chain constraints. They balanced optimism with recognition of headwinds.

Guidance Reliability Pending · <3Q data

Investor Lens

The investment thesis is somewhat stronger after this call due to the meaningful gross margin recovery (from 6.4% to 10.1%) and the accelerating contribution from DCBBS/software, which increases profitability. However, the export control investigation (indictment of former employees) and ongoing supply constraints introduce uncertainty. The company's diversification into enterprise and NeoCloud customers should improve margin stability long-term, but the near-term reliance on large cloud customers remains. Key metrics to watch next quarter include the resolution of customer site readiness delays, further gross margin progression, and any updates from the independent investigation. The revenue guidance of $11-12.5B implies sequential growth, but the margin guidance of 8.2-8.4% is below Q3's 10.1%, suggesting a mix shift or lumpy performance. Overall, the call reinforced management's ability to execute on margin improvement but did not fully alleviate governance concerns.

AI-generated concall tone analysis · Updated 2026-06-08 · Not investment advice

🎙 Management Tone Mixed ↓ Deteriorating 4 quarters Full tone analysis in Intelligence →

📊 MIXED Super Micro Q3 FY26 revenue $10.2B, gross margin 10.1%

Revenue & Profitability

Q3 FY26 revenue was $10.2B. Non-GAAP gross margin was 10.1%, non-GAAP operating margin 7.3%. GAAP diluted EPS was $0.72, non-GAAP diluted EPS was $0.84. Operating cash flow was -$6.6B, inventory $11.1B, net debt $7.5B. Q4 FY26 revenue guidance: $11B-$12.5B.

Outlook

Management is bullish on AI demand driven by NeoCloud, Sovereign AI, and agentic AI segments. Backlog is at a record high. Guidance: Q4 FY26 revenue $11B-$12.5B, full FY26 revenue $38.9B-$40.4B. Industry-wide component shortages (CPU, GPU, memory) persist but are expected to ease.

Growth Drivers

Key growth levers: enterprise channel grew 45% quarter-over-quarter to $2.8B; DCBBS and software subscriptions are expanding rapidly. Software revenue grew from under $10M to $46M per quarter. Geographic growth: Europe up 105% QoQ, rest of world up 392% QoQ. Increasing focus on enterprise and NeoCloud customers.

Balance Sheet & CapEx

Q3 CapEx was $80M. Q4 FY26 CapEx guided to $30M-$50M. Investing in new facilities in Taiwan, Malaysia, Netherlands, and a new DCBBS campus in Silicon Valley (eight new buildings). On track to produce over 6,000 state-of-the-art racks per month. Includes clean room for DLC-2 and photonics-based devices.

Margins

Non-GAAP gross margin rebounded to 10.1% from 6.4% in Q2, driven by better customer/product mix, lower tariffs, and lower expedite fees. Q4 FY26 gross margin guidance: 8.2%-8.4% due to expected customer mix. Management targets sustainable double-digit gross margins through enterprise and DCBBS growth.

Key Risks

Risks include the ongoing DOJ investigation into a few former employees (company not a defendant/target), potential customer hesitancy, supply constraints on CPUs, GPUs, and memory, customer site readiness delays, tariffs, and working capital needs if growth accelerates.

Generated by AI · Q3 2026 results · Not investment advice

✓ 📞 Earnings Call Transcripts (5 quarters) submit a missing quarter

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📞 Earnings Call Transcripts (5)

Q4 2026 Q4 2026 2026-08-11

Revenue nearly doubled to $39.1B in FY 2026, with record $60B in new orders and strong AI demand. Q4 gross margin surged to 17.6% on favorable mix, and FY 2027 revenue is guided at $65B–$72B. Margin improvement is expected as enterprise and DCBBS solutions expand.

Q3 2026 Q3 2026 2026-05-05

Q3 FY2026 revenue rose 123% YoY to $10.2B but fell 19% sequentially due to customer delays and supply constraints. Gross margin rebounded to 10.1% non-GAAP, with strong AI demand and record backlog. Full-year sales are guided at $38.9–$40.4B.

Q2 2026 Q2 2026 2026-02-03

Record Q2 revenue of $12.7B, up 123% year-over-year, was driven by strong AI infrastructure demand and rapid expansion of the DCBBS product line. Gross margin declined due to customer mix and supply chain costs, but guidance was raised to at least $40B for FY26, with margin improvement expected as DCBBS grows.

Q1 2026 Q1 2026 2025-11-04

Fiscal 2026 started strong with $5B Q1 revenue and over $13B in new orders, but shipment delays impacted results. Full-year revenue guidance was raised to at least $36B, with sequential growth and margin improvement expected as new facilities and high-margin DCBBS ramp up.

Q4 2025 Q4 2025 2025-08-05

Fiscal 2025 revenue grew 47% to $22B, driven by AI and green computing, with Q4 revenue at $5.8B and non-GAAP EPS at $0.41. Guidance for fiscal 2026 targets at least $33B in revenue, with DCBBS and enterprise expansion expected to drive growth and margin improvement.

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