Super Micro Computer, Inc. (SMCI) Research

Forward Estimates

EPS Estimates

Current Qtr

$0.71

$0.67$0.77

vs $0.41+74.1%

16 analysts

Next Qtr

$0.68

$0.44$0.85

vs $0.35+93.1%

15 analysts

Current Yr

$2.60

$2.50$2.65

vs $2.06+26.0%

18 analysts

Next Yr

$3.24

$2.65$4.11

vs $2.60+24.9%

18 analysts

Revenue Estimates

Current Qtr

$11.73B

$11.22B$12.00B

vs $5.76B+103.8%

15 analysts

Next Qtr

$11.70B

$8.00B$15.41B

vs $5.02B+133.1%

14 analysts

Current Yr

$39.68B

$39.16B$39.94B

vs $21.97B+80.6%

15 analysts

Next Yr

$51.54B

$46.91B$61.00B

vs $39.68B+29.9%

16 analysts

SEC filings →

View all 10-K, 10-Q, and 8-K filings for SMCI on EDGAR.

SMCI filing events and research context
Filed	Item	Context
May 11, 2026	mda_quarterly	Net sales for the three months ended March 31, 2026, surged 122.7% to $10.2 billion, driven primarily by a 150.5% year-over-year increase in AI GPU-related products, including liquid-cooled and air-cooled servers. This growth was fueled by large design wins from a small number of customers and the deployment of Data Center Building Block Solutions (DCBBS). While net income rose to $483.4 million, gross margins remained relatively flat at 9.9%. Operating expenses increased 33.9% due to higher headcount and stock-based compensation. Significant headwinds include rising tariff expenses, which totaled $273.6 million over the first nine months of the fiscal year, and inventory write-downs of $79.9 million. Liquidity has tightened, with cash and cash equivalents decreasing to $1.3 billion from $5.2 billion. Net cash used in operating activities reached $7.56 billion for the nine-month period, reflecting aggressive inventory accumulation and increased accounts receivable to support rapid scaling. The company maintains substantial obligations, including $4.7 billion in convertible debt and $10.1 billion in non-cancelable purchase commitments. Future growth depends on maintaining first-to-market innovation and managing supply chain constraints amidst geopolitical volatility and macroeconomic pressures.
Feb 6, 2026	mda_quarterly	Net sales for the three months ended December 31, 2025, surged 123.4% to $12.68 billion, primarily driven by a 169.7% year-over-year increase in AI GPU-related products, including complex liquid-cooled and air-cooled servers. Despite this growth, gross margin contracted to 6.3% from 11.8%, reflecting a strategic shift toward competitive pricing to capture market share, higher production expedite costs, increased tariff expenses, and inventory write-downs. Net income rose to $400.6 million. The company is prioritizing its Data Center Building Block Solutions (DCBBS) and maintaining close integration with partners like NVIDIA, Intel, and AMD to accelerate time-to-market. Liquidity is pressured by significant working capital requirements; net cash used in operating activities reached $941.4 million for the first six months of the fiscal year due to aggressive inventory accumulation and extended customer payment terms. As of December 31, 2025, SMCI held $4.1 billion in cash and cash equivalents, offset by $4.7 billion in convertible debt and $3.9 billion in non-cancelable purchase commitments. Anticipated capital expenditures for the remainder of fiscal 2026 range from $200 million to $220 million to expand global manufacturing capabilities and IT infrastructure.
Nov 7, 2025	mda_quarterly	Net sales for the three months ended September 30, 2025, decreased 15.5% to $5.02 billion, with net income falling to $168.3 million from $424.3 million year-over-year. This decline was primarily driven by the timing of substantial orders, customer configuration upgrades, and data center readiness delays, which hindered shipments of high-value GPU and SuperRack products. Geographically, the company experienced a significant shift as U.S. net sales plummeted 56.7% to $1.83 billion, while Asian markets grew 142.9% to $2.32 billion. Gross margin contracted to 9.3% from 13.1%, pressured by competitive pricing strategies to gain market share, a $42.1 million increase in tariff expenses, and $27.4 million in inventory write-downs. Operating expenses rose 7.0%, led by a 31.1% increase in research and development to expand the workforce and invest in key talent. SMCI continues to leverage its Building Block Solutions and Data Center Building Block Solutions (DCBBS) to meet AI-driven demand. Liquidity remains stable with $4.2 billion in cash, though the company carries $4.7 billion in convertible debt and $11.6 billion in non-cancelable purchase commitments.

Filed

Item

Context

May 11, 2026

mda_quarterly

Net sales for the three months ended March 31, 2026, surged 122.7% to $10.2 billion, driven primarily by a 150.5% year-over-year increase in AI GPU-related products, including liquid-cooled and air-cooled servers. This growth was fueled by large design wins from a small number of customers and the deployment of Data Center Building Block Solutions (DCBBS). While net income rose to $483.4 million, gross margins remained relatively flat at 9.9%. Operating expenses increased 33.9% due to higher headcount and stock-based compensation. Significant headwinds include rising tariff expenses, which totaled $273.6 million over the first nine months of the fiscal year, and inventory write-downs of $79.9 million. Liquidity has tightened, with cash and cash equivalents decreasing to $1.3 billion from $5.2 billion. Net cash used in operating activities reached $7.56 billion for the nine-month period, reflecting aggressive inventory accumulation and increased accounts receivable to support rapid scaling. The company maintains substantial obligations, including $4.7 billion in convertible debt and $10.1 billion in non-cancelable purchase commitments. Future growth depends on maintaining first-to-market innovation and managing supply chain constraints amidst geopolitical volatility and macroeconomic pressures.

Feb 6, 2026

mda_quarterly

Net sales for the three months ended December 31, 2025, surged 123.4% to $12.68 billion, primarily driven by a 169.7% year-over-year increase in AI GPU-related products, including complex liquid-cooled and air-cooled servers. Despite this growth, gross margin contracted to 6.3% from 11.8%, reflecting a strategic shift toward competitive pricing to capture market share, higher production expedite costs, increased tariff expenses, and inventory write-downs. Net income rose to $400.6 million. The company is prioritizing its Data Center Building Block Solutions (DCBBS) and maintaining close integration with partners like NVIDIA, Intel, and AMD to accelerate time-to-market. Liquidity is pressured by significant working capital requirements; net cash used in operating activities reached $941.4 million for the first six months of the fiscal year due to aggressive inventory accumulation and extended customer payment terms. As of December 31, 2025, SMCI held $4.1 billion in cash and cash equivalents, offset by $4.7 billion in convertible debt and $3.9 billion in non-cancelable purchase commitments. Anticipated capital expenditures for the remainder of fiscal 2026 range from $200 million to $220 million to expand global manufacturing capabilities and IT infrastructure.

Nov 7, 2025

mda_quarterly

Net sales for the three months ended September 30, 2025, decreased 15.5% to $5.02 billion, with net income falling to $168.3 million from $424.3 million year-over-year. This decline was primarily driven by the timing of substantial orders, customer configuration upgrades, and data center readiness delays, which hindered shipments of high-value GPU and SuperRack products. Geographically, the company experienced a significant shift as U.S. net sales plummeted 56.7% to $1.83 billion, while Asian markets grew 142.9% to $2.32 billion. Gross margin contracted to 9.3% from 13.1%, pressured by competitive pricing strategies to gain market share, a $42.1 million increase in tariff expenses, and $27.4 million in inventory write-downs. Operating expenses rose 7.0%, led by a 31.1% increase in research and development to expand the workforce and invest in key talent. SMCI continues to leverage its Building Block Solutions and Data Center Building Block Solutions (DCBBS) to meet AI-driven demand. Liquidity remains stable with $4.2 billion in cash, though the company carries $4.7 billion in convertible debt and $11.6 billion in non-cancelable purchase commitments.

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SMCI filing events and research context

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