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.
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.