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Super Micro Computer
Super Micro Computer (SMCI) investor relations material
Super Micro Computer Q2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 2026 earnings summary3 Feb, 2026
Executive summary
Achieved record Q2 FY26 revenue of $12.7 billion, up 123% year-over-year and 153% quarter-over-quarter, driven by strong AI infrastructure and datacenter demand, including large-scale deployments and fulfillment of delayed orders.
AI GPU platforms and Data Center Building Block Solutions (DCBBS) accounted for over 90% of Q2 revenue, with rapid expansion in product lines and global manufacturing footprint.
Customer and product mix shifted toward large model builders and enterprise deployments, impacting gross margin but supporting rapid revenue growth.
Net income rose to $401 million, with diluted EPS of $0.60 and non-GAAP EPS of $0.69.
Expanded global manufacturing and established a Federal Business Unit to target government and public sector markets.
Financial highlights
Q2 revenue reached $12.7 billion, exceeding guidance, with $1.5 billion from delayed Q1 shipments.
Non-GAAP gross margin was 6.4%, down from 9.5% in Q1 and 11.8% in Q2'25, due to customer mix, pricing, and higher costs.
Non-GAAP operating margin was 4.5%; adjusted EBITDA for Q2 was $628.6 million, 5.0% of net sales.
Cash flow used in operations was $24 million, with closing inventory at $10.6 billion, up from $5.7 billion in Q1.
Total cash and cash equivalents stood at $4.1 billion, with total bank debt and convertible notes at $4.9 billion.
Outlook and guidance
Q3 FY26 net sales expected to be at least $12.3 billion; full-year FY26 revenue guidance raised to at least $40 billion.
Q3 GAAP diluted EPS expected to be at least $0.52; non-GAAP diluted EPS at least $0.60.
Gross margin expected to improve by 30 basis points in Q3.
Capital expenditures for Q3 projected at $70–$90 million; full-year CapEx expected at $200–$220 million.
Guidance assumes a tax rate of approximately 19.6% (GAAP) and 20.2% (non-GAAP).
What caused the Q2'26 gross margin decline?
Explain the surge in accounts payable
Drivers of diluted share count increase?
DCBBS: How to reach double-digit profit share?
Plan to diversify from 63% customer concentration?
How will DFM and global footprint improve margins?
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Next Super Micro Computer earnings date
Q3 20265 May, 2026
Super Micro Computer
Next Super Micro Computer earnings date
Q3 20265 May, 2026
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Frequently asked questions
Super Micro Computer Inc. designs and manufactures high-performance server and storage systems, motherboards, and related components. Its solutions are used in data centers, cloud computing, enterprise IT, and AI workloads. The company is headquartered in San Jose, California, and its shares are listed on the NASDAQ.
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