That wraps up our initial coverage of Super Micro’s Q4 results. Thank you for stopping by!
Super Micro Computer reported mixed fiscal Q4 headline results, with revenue of $11.1 billion falling short of the $11.55 billion consensus estimate. However, adjusted EPS exploded 315% year over year to $1.70, crushing expectations of $0.96.
Profitability also came in far ahead of expectations. Net income reached $1.2 billion versus $636 million expected, while adjusted EBITDA of $1.7 billion more than doubled the $655 million estimate. Gross margin expanded by 800 basis points year over year to 17.5%.
The biggest surprise came from Super Micro’s outlook. Management guided for fiscal 2027 revenue of $65-72 billion, far above the $52.5 billion Wall Street estimate.
Fiscal Q1 revenue is expected to reach $14.5 billion to $15.5 billion, compared with $11.68 billion expected, while adjusted EPS guidance of $1.01 to $1.10 also exceeded the $0.76 consensus.
Super Micro said it “generated more than $60 billion in new orders” and is entering fiscal 2027 with record backlog.
Management added that it is “improving profitability through a richer enterprise customer mix and broader adoption” of its Data Center Building Block Solutions architecture.
SMCI just reported earnings, with shares initially up 9% following the report. Here are the key numbers:
Quick Read:
Super Micro missed revenue expectations by 4%, but adjusted EPS crushed estimates by 77%.
Revenue climbed 93% year over year, while EPS increased 315%, signaling sharply improving profitability.
With the 4:05 PM ET Q4 earnings call minutes away, here’s what to watch beyond the headline numbers.
Beyond the headline numbers, several wildcards could reshape the market’s reaction tonight for Super Micro Computer’s (NASDAQ:SMCI) Q4 earnings.
Options positioning stays bullish, with a full-chain put/call ratio of 0.48.
Super Micro Computer reports fiscal Q4 2026 earnings after the closing bell at 4:05 PM ET, with management guiding for $11.0 billion to $12.5 billion in revenue.
Wall Street expects $11.56 billion in revenue and adjusted earnings of $0.9575 per share, with the consensus EPS estimate sitting above the top of management’s guidance range.
Investors will be focused on gross margin recovery, demand for Super Micro’s Data Center Building Block Solutions, and management’s outlook for fiscal 2027. An ongoing export-control review also remains a significant overhang.
A strong report could validate CEO Charles Liang’s $40 billion annualized revenue target, while disappointing margins or guidance could reset expectations for fiscal 2027.
Live coverage has ended. The full story is below.
Super Micro Computer (NASDAQ:SMCI | SMCI Price Prediction) reports Q4 FY2026 earnings today at 4:05 PM ET. Shares sit at about $31.16, down about 29.46% over the past year. This quarter closes a volatile fiscal year.
Last quarter, the company’s revenue of $10.24B missed consensus by 17.75%, but non-GAAP EPS of $0.84 beat by 34.51% as gross margin snapped back to 10.1% non-GAAP from 6.4%.
Operating cash flow was -$6.6 billion, cash fell to $1.3 billion, and total debt reached $8.8 billion. The board’s independent review of export-control matters remains ongoing, and CFO David Weigand said: “We do not believe we will need to restate.”
| Metric | Q4 FY26 Estimate | Mgmt Guide | FY26 Guide |
|---|---|---|---|
| Revenue | $11.56B | $11.0B-$12.5B | $38.9B-$40.4B |
| EPS (Non-GAAP) | $0.9575 | $0.65-$0.79 | n/a |
Wall Street sits above the top end of management’s EPS band, implying analysts expect either mix or margin upside. Charles Liang told investors, “For the fourth quarter, we target $12 billion, given stable supply conditions.”
Tonight, I’ll be watching four things closely. First, gross margin. Guidance implied 8.2-8.4%, so any hold above 9% signals durable mix improvement.
Second, DCBBS software revenue, which jumped from under $10 million per quarter to $46 million booked in Q3, with Liang targeting “at least 20% of our net income” from DCBBS within two years.
Third, customer concentration. Q3 saw the top customer fall to 27% from 63% in Q2. I want to see the enterprise channel, up 45% QoQ, extend its share.
Fourth, the Blackwell Ultra order book flagged at more than $13B and how much converts before component shortages, especially memory and SSD, cap shipments. Analysts will also look at cash conversion, as days inventory outstanding ran 106 days vs 63 days a quarter earlier.
| Quarter | EPS Surprise | Day-of Move | 1-Week Move | 30-Day Move |
|---|---|---|---|---|
| Q3 FY26 | +34.51% | +24.54% | -7.67% | +26.92% |
| Q2 FY26 | +41.42% | +13.78% | -5.09% | -5.27% |
| Q1 FY26 | -10.07% | -6.6% | -18.1% | -26.81% |
| Q4 FY25 | -6.58% | -18.29% | -1.54% | -14.43% |
On average, shares moved +1.23% in the week following earnings over the past year.
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Thomas Richmond is a financial writer and content strategist with 5+ years of experience covering stocks and financial markets. He has published over 250 articles focused on individual stock analysis, helping investors better understand business fundamentals, stock valuations, and long-term opportunities.
Thomas previously served as a Content Lead at TIKR, a stock research platform, where he helped scale the company’s blog to hundreds of articles per month and contributed to a weekly newsletter reaching more than 100,000 investors.
He specializes in breaking down complex companies into clear, actionable insights for everyday investors, with a focus on fundamentals-driven research.
His work has also been featured on platforms including Seeking Alpha and Sure Dividend.
Outside of work, Thomas enjoys weight lifting and soccer.
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