Supermicro Q4 Revenue Near Low End, But Margins Surge and Backlog Hits Record $60B
SMCI sits 53% above its 52-week low of $19.48.
Summary
Supermicro's preliminary Q4 FY2026 revenue is near the low end of guidance, but gross margins nearly doubled expectations and new orders exceeded $60 billion, creating a record backlog.
Key Events · Earnings and Guidance · SMCI
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Revenue Near Low End of Guidance
Preliminary Q4 FY2026 revenue is estimated near the low end of the $11.0–$12.5 billion guidance range.
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Gross Margins Nearly Double Forecast
GAAP and non-GAAP gross margins are estimated at 15–17%, significantly above the prior guidance of 8.2–8.4%, driven by favorable customer and product mix.
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Record $60B+ Order Backlog
Total new orders exceeded $60 billion during Q4 FY2026, pushing backlog to record levels and providing multi-quarter revenue visibility.
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Earnings Call Scheduled August 11
Full Q4 and fiscal year 2026 results will be reported on August 11, 2026, with a conference call at 5:00 p.m. ET.
Analysis · SMCI · Technology
Supermicro's preliminary Q4 FY2026 results show revenue tracking near the low end of its $11.0–$12.5 billion guidance, but gross margins are nearly double the forecast at 15–17% versus the guided 8.2–8.4%. The margin beat, driven by favorable product and customer mix, signals stronger profitability than expected. More importantly, the company booked over $60 billion in new orders during the quarter — a record backlog that provides multi-quarter revenue visibility and underscores massive AI-driven demand. This update comes just weeks after a $7 billion equity financing plan that pressured the stock, and the margin strength and order book may alleviate some dilution concerns.
How filings like this one have moved
In the 30 days to Sep 13, 2026, 35.6% of the 1216 measured filings Wiseek scored 8 moved their stock by 5% or more by the next session's close. The median move was -0.43%. These are measured outcomes after filings of this importance, not a forecast for this one.
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At the time of this filing, SMCI was trading at $29.77 on NASDAQ in the Technology sector, with a market capitalization of approximately $16.5B. The 52-week trading range was $19.48 to $62.36. This filing was assessed with positive market sentiment and an importance score of 8 out of 10.