SMCI
Super Micro Computer, Inc.31.66
+0.29+0.92%
Dec 16, 4:00:01 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q2 '26
DCBBS boosts margins over 20%
Q&A elaborated on DCBBS as a high-margin catalyst, with Charles disclosing over 20% margins versus core servers and appeal to large, mid, and small customers globally—double-digit profit share eyed by end-2026. Management affirmed gross margin expansion from better mix, maturing GB300 platforms, fewer expedites, and DCBBS ramp, while OpEx leverage persists structurally. FY26's $40B guide embeds supply shortages from surging demand; easing could exceed it. Concentration eases with diversified larges and enterprise push. Margins climb quarter-on-quarter. Watch DCBBS ramp for sustained profitability.
Key Stats
Market Cap
18.90BP/E (TTM)
24.93Basic EPS (TTM)
1.27Dividend Yield
0%Recent Filings
10-Q
Q2 FY2026 results
Super Micro Computer crushed Q2 FY2026 with net sales rocketing 123% y/y to $12.7B, fueled by massive AI GPU server shipments including a key design win, though gross margin slipped to 6.3% from 11.8% on mix shift, tariffs, and $133M inventory writedowns. Operating income climbed 29% y/y to $474M despite R&D up 14%, while diluted EPS held at $0.60 (anti-dilution from convertibles). Cash dipped to $4.1B on inventory build, but $2B revolver sits untapped alongside $4.7B convertibles. Balance sheet balloons to $28B assets. Customer A took 63% of sales. Securities suits loom.
8-K
Q2 sales $12.7B, margins shrink
Supermicro reported Q2 FY2026 net sales of $12.7B, up from $5.0B last quarter and $5.7B prior year, but gross margin slipped to 6.3% from 11.8%. Net income hit $401M with diluted EPS at $0.60. Sales exploded. Q3 sales guidance: at least $12.3B; FY2026: $40.0B, while margins face pressure from rapid scaling.
8-K
Credit amendment cuts rates
Super Micro Computer entered Amendment #1 to its December 2025 credit agreement with JPMorgan on January 26, 2026, fixing fiscal year-end references from December 31 to June 30 and slashing initial applicable margins to Pricing Level I (1.25% Term Benchmark, 0.25% Base Rate). Lenders got notice but didn't object. Costs drop right away.
8-K
Secures $710M Taiwan revolver
Super Micro's Taiwan sub entered a $710M revolving credit agreement on Jan 21, 2026, expandable to $2B, secured by a second lien on its Bade facility, receivables, and up to $2.4B in deposits. Funds target component procurement like NVIDIA GPUs to fuel working capital and expansion. Yet covenants bind tight. Annual meeting set for Apr 15.
8-K
Secures $2B revolver
Super Micro Computer locked in a $2B revolving credit facility on December 29, 2025, maturing 2030 with JPMorgan as agent. Collateralized now but drops post-September 2026 if ratings hit investment grade; leverage covenant starts at 4.0x, tightening to 3.0x. Funds working capital. Lenders can accelerate on change of control.
IPO
Website
Employees
Sector
Industry
AMD
Advanced Micro Devices, Inc.
209.17+1.59
ANET
Arista Networks, Inc.
126.13+0.24
CRSR
Corsair Gaming, Inc.
6.18-0.04
DELL
Dell Technologies Inc.
133.75+3.24
INTC
Intel Corporation
37.31-0.20
NVDA
NVIDIA Corporation
177.72+1.43
PSTG
Pure Storage, Inc.
69.72+0.15
SNDK
Sandisk Corporation
209.31+7.44
STX
Seagate Technology Holdings PLC
288.13+2.55
WDC
Western Digital Corporation
174.57+2.54