Loading
Sentiment · FY2026 Q4
| Analyst | Firm | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Ananda Baruah | Loop Capital | 16 (13%) |
| Jon Tanwanteng | CJS Securities | 14 (21%) |
| Samik Chatterjee | JPMorgan | 13 (8%) |
| Nehal Chokshi | Northland Capital Markets | 13 (23%) |
| Ruplu Bhattacharya | Bank of America | 11 (36%) |
| Mike Ng | Goldman Sachs | 8 (13%) |
| Asiya Merchant | Citigroup | 7 (0%) |
| Quinn Bolton | Needham | 6 (33%) |
| George Wang | Barclays | 5 (0%) |
| Katherine Murphy | Goldman Sachs | 5 (0%) |
| Firm | Analysts | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Loop Capital | 1 | 16 (13%) |
| CJS Securities | 1 | 14 (21%) |
| JPMorgan | 2 | 14 (7%) |
| Northland Capital Markets |
| Quarter | Revenue | Rev YoY | EPS | EPS YoY | Gross margin | Op margin | Net margin | FCF |
|---|---|---|---|---|---|---|---|---|
| FY2025 Q1 | $5.94B | +180.1% | $0.67 | +139.3% | 13.1% | 8.6% | 7.1% | $365M |
| FY2025 Q2 | $5.68B | +6.0% | $0.50 | -9.1% | 11.8% | 6.5% | 5.6% | $-267M |
| FY2025 Q3 | $4.60B | -22.5% | $0.17 |
| 1 |
| 13 (23%) |
| Goldman Sachs | 2 | 13 (8%) |
| Needham | 5 | 12 (17%) |
| Bank of America | 1 | 11 (36%) |
| Citigroup | 1 | 7 (0%) |
| -74.6% |
| 9.6% |
| 3.2% |
| 2.4% |
| $594M |
| FY2025 Q4 | $5.76B | +7.5% | $0.31 | -39.2% | 9.5% | 4.0% | 3.4% | $841M |
| FY2026 Q1 | $5.02B | -15.5% | $0.26 | +52.9% | 9.3% | 3.6% | 3.4% | $-950M |
| FY2026 Q2 | $12.68B | +123.4% | $0.60 | +20.0% | 6.3% | 3.7% | 3.2% | $-45M |
| FY2026 Q3 | $10.24B | +122.7% | $0.72 | +323.5% | 9.9% | 6.1% | 4.7% | $-6.70B |
| FY2026 Q4 | $11.12B | +93.2% | $1.62 | +422.6% | 17.5% | 13.4% | 10.5% | $719M |
Management’s own words, often on a non-GAAP, constant-currency, or adjusted basis — so these can differ from the GAAP figures above (e.g. constant-currency revenue growth excludes currency swings).
Revenue surged 123% year-over-year to $10.2 billion with a significant gross margin recovery to 10.1%, suggesting the worst of the margin compression may be passing as the DCBBS product line and software revenue accelerated. However, FY2026 revenue guidance was narrowed to $38.9-$40.4 billion from the prior at least $40 billion floor, a modest reduction at the midpoint. A DOJ indictment of former employees for export violations added a new overhang, while customer revenue diversification improved and component shortages continued constraining supply across the industry.
Margin | Demand | Revenue Growth | Innovation & R&D | Product Launch | Guidance Reliability | Supply Chain | Competitive Dynamics | |
|---|---|---|---|---|---|---|---|---|
| 2025Q1 | 3 | 4 | 6 | 2 | 3 | 1 | 2 | 2 |
| 2025Q2 | 4 | 8 | 5 | 1 | 5 | 4 | 2 | 1 |
| 2025Q3 | 4 | 5 | 2 | 2 | 2 | 1 | 1 | 2 |
| 2025Q4 | 8 | 7 | 5 | 5 | 4 | 1 | 2 | |
| 2026Q1 | 9 | 7 | 4 | 1 | 1 | 3 | 1 | 2 |
| 2026Q2 | 7 | 6 | 3 | 5 | 2 | 2 | 3 | 2 |
| 2026Q3 | 10 | 8 | 2 | 3 | 1 | 1 | 3 |
| '25Q1 | '25Q2 | '25Q3 | '25Q4 | '26Q1 | '26Q2 | '26Q3 | |
|---|---|---|---|---|---|---|---|
| Margin | 3 | 4 | 4 | 8 | 9 | 7 | 10 |
| Demand | 4 | 8 | 5 | 7 | 7 | 6 | 8 |
| Revenue Growth | 6 | 5 | 2 | 5 | 4 | 3 | 2 |
| Innovation & R&D | 2 | 1 | 2 | 5 | 1 | 5 | 3 |
| Product Launch | 3 | 5 | 2 | 4 | 1 | 2 | 1 |
| Guidance Reliability | 1 | 4 | 1 | 1 | 3 | 2 | 1 |
| Supply Chain | 2 | 2 | 1 | 1 | 3 | 3 | |
| Competitive Dynamics | 2 | 1 | 2 | 2 | 2 | 2 |
What SMCI and other companies said about each other on FY2026 Q3 earnings calls — extracted verbatim from public transcripts. Mentions from the newest quarter are a Pro feature.
“buying finished racks from our partners such as Supermicro, Lenovo, ASRock.”
Supermicro is named as an ODM partner selling finished Arm AGI CPU racks, a read-through on Supermicro's role in Arm data-center systems.
“Our relationship with vendor have been very long time, right, including NVIDIA, AMD, Intel, Broadcom.”
Super Micro cites Broadcom among its long-standing key component vendors it expects to keep working with closely.
“So in the last 6 months, as you know, on the memory SSD price grow so much, double, triple, more than triple and some CPU shortage, especially from Intel.”
Super Micro flags CPU supply shortages, especially from Intel, over the past six months, a negative read on Intel's supply availability.
“In addition, we are working closely with Intel and Arm on the development of upcoming Xeon 6+ platforms and a new addition to our portfolio, including Arm AGI GPU-based solutions.”
Super Micro is working with Arm on new Arm-based GPU solutions for agentic AI workloads, expanding Arm's presence in Super Micro's portfolio.
“In addition, we are working closely with Intel and Arm on the development of upcoming Xeon 6+ platforms and a new addition to our portfolio, including Arm AGI GPU-based solutions.”
Super Micro is co-developing upcoming Xeon 6+ platforms with Intel, indicating continued reliance on Intel's next-gen server CPUs.
“We continue to build on strong momentum of our AMD MI350 platform as we prepare for the next generation of AMD Helios solutions, featuring EPYC Venice and MI400 series of products.”
Super Micro reports strong momentum on AMD's MI350 platform and is preparing next-gen AMD Helios systems with EPYC Venice and MI400, a positive demand read for AMD accelerators.
“Especially with NVIDIA, we are currently shipping many SKUs of the latest rack scale systems, including GB300 NVL72, [ MNB-300 HGXQ ], B200 NVL4 and inferencing application optimized RTX product lines.”
Super Micro is shipping many SKUs of NVIDIA's latest rack-scale systems and preparing Vera Rubin platforms, underscoring strong demand for NVIDIA's newest GPUs.
| Company | Score | Trend | Rev YoY |
|---|---|---|---|
SMCI Supermicro | 7 | +122.7% | |
| ANET Arista Networks | 9 | +35.1% | |
| DELL Dell Technologies | 10 | +40.2% | |
| HPQ HP Inc. | 5 | +6.9% | |
| IONQ IonQ, Inc. | 9 | +754.7% | |
| NTAP NetApp | 8 | +4.4% | |
| QBTS D-Wave Quantum Inc. | 2 | -81.0% | |
| RGTI Rigetti Computing, Inc. | 8 | +198.9% | |
| STX Seagate Technology Holdings | 10 | +44.1% | |
| WDC Western Digital | 9 | +45.5% |