Super Micro Computer, Inc. (SMCI) Earnings
Super Micro Computer, Inc. is expected to report next earnings on August 4, 2026 (in NaN days), with a consensus EPS estimate of $0.70. SMCI has beaten EPS estimates in 10 of its last 12 reported quarters (average surprise +24.0% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 5, 2026 | $0.63 | $0.84 | +33.3% | $10.2B | -17.3% |
| Feb 3, 2026 | $0.49 | $0.69 | +40.8% | $12.7B | +1.8% |
| Nov 4, 2025 | $0.37 | $0.35 | -6.6% | $5.0B | -14.0% |
| Feb 25, 2025 | $0.58 | $0.75 | +28.4% | $5.7B | +0.5% |
| Apr 30, 2024 | $0.58 | $0.67 | +15.5% | $3.9B | -27.3% |
| Jan 29, 2024 | $0.55 | $0.56 | +1.8% | $3.7B | +20.0% |
| Nov 1, 2023 | $0.32 | $0.34 | +6.3% | $2.1B | +2.7% |
| May 2, 2023 | $0.17 | $0.16 | -5.9% | $1.3B | -24.8% |
| Jan 31, 2023 | $0.31 | $0.33 | +6.5% | $1.8B | +3.2% |
| Nov 1, 2022 | $0.31 | $0.34 | +9.7% | $1.9B | +12.0% |
| May 3, 2022 | $0.15 | $0.16 | +6.7% | $1.4B | +9.9% |
| Feb 1, 2022 | $0.08 | $0.09 | +12.5% | $1.2B | +1.7% |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q3 FY2026 · May 5, 2026
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
Management addressed the indictment of former associates, terminated relationships with defendants, and launched an independent investigation. The quarter was defined by growth despite component shortages, back orders at record highs, advancement of data center infrastructure with DLC technology, gross margin recovery to 10.1% non-GAAP, growth drivers like market strength, product mix and efficiency, expansion of DCPBS business including software growth, and global production capacity expansion with new facilities in the US and abroad.
Guidance
For Q4 FY26, expect net sales in the range of $11 billion to $12.5 billion, GAAP diluted net income per share of $0.53 to $0.67 and non-GAAP diluted net income per share of $0.65 to $0.79, gross margins in the range of 8.2% to 8.4%. For full fiscal year 2026, expect net sales in the range of $38.9 billion to $40.4 billion.
Segment performance
Fiscal Q3 FY26 revenue was $10.2 billion, up 123% year-over-year, and down 19% quarter over quarter. Enterprise channel revenue totaled $2.8 billion, representing about 28% of revenue versus 15% in the prior quarter, up 46% year over year and up 45% quarter over quarter. OEM appliance and large data center segment revenue was $7.4 billion, representing approximately 72% of Q3 revenue versus 85% in the last quarter, up 183% year over year and down 31% quarter over quarter. Non-GAAP gross margin was 10.1% in Q3, up from 6.4% in Q2.
Risks & headwinds
Risks include the impact of the former employees' indictment on the company's reputation and potential legal consequences, industry-wide component shortages affecting operations, supply chain disruptions, and potential financial risks related to financing growth and managing working capital.
Analyst Q&A
Q: Regarding the indictment, any update on company employee involvement, restatement of earnings, and 10-Q filing?
A: Company was surprised by the indictment, no company employees other than those named were involved, no plan to restate earnings, and planning to file 10-Q.
Q: Update on DCBBS contributions to profits and revenue capacity from capacity additions?
A: DCPBS continues to grow, expected to contribute at least 20% of net income, and capacity additions are to prepare for new data center needs.
Q: Impact of indictment investigation on relationship with NVIDIA and component supply?
A: Relationship with NVIDIA stays strong, no change in component allocation.
Q: Supply constraints and customer traction for data center building block solutions?
A: Suffers from global component shortages, but seeing traction with more enterprise and near-cloud customers using data center building block solutions.
Q: One-time items impacting gross margins and margin decline from 3Q to 4Q?
A: Tariffs, expedite fees, and inventory reserve charges impacted margins, margin decline due to customer mix and product mix.
Q: Working capital needs for new GPUs and rack designs?
A: Business is diversifying, working capital needs depend on growth rate, may need to access capital markets if growth is fast.
Q: Target for DCPBS in net income and clarification on revenue and margin mix?
A: Expect DCPBS to contribute 20% of net income, revenue and margin mix influenced by customer and product mix.
Q: Drive for enterprise growth and sustainable gross margin level?
A: Strong drive for enterprise growth with both AI and traditional server/storage, sustainable gross margin level expected to improve with diversified business.
Q: Impact of export violation issue on financing and remediation cost?
A: Company not named, conducting internal investigations, no major impact on financing yet disclosed.
Q: Clarity on backlog and revenue miss impact on margins?
A: Don't disclose backlog numbers, revenue miss due to customer readiness delay, and the returning revenue from the delayed deal's impact on margins depends on customer mix.