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Super Micro ComputerSMCI

Legal name
Super Micro Computer, Inc.
Sector
Technology
Industry
Electronic Computers
Exchange
Nasdaq

Stock Price $SMCI

Latest filings

You are here#83 of 89 in Technology by market cap

Filing record · 2016–202610-K1010-Q328-K170

SMCI filed 10 annual reports (10-K), 32 quarterly reports (10-Q) and 170 current reports (8-K) between 2016 and 2026.

  1. Material agreement8-K · Oct ’17Oct ’17
  2. FY2019 annual report10-K · Dec ’19Dec ’19
  3. Leadership change8-K · Apr ’22Apr ’22
  4. Leadership change8-K · Jan ’26Jan ’26

01—Key figures

Share Class
Source: 10-KFY2026
Source: 10-KFY2026
Source: 10-KFY2026
Source: 10-KFY2026

Revenue Trend

Year-over-year comparison from 10-K annual reports

  17. $39.06B
YoY changeLargest recent move+110.4%in FY24Latest +77.8%

Latest bar from 10-KFY2026Click a bar to open its SEC filing

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All SMCI Financial Metrics60 metrics

Income Statement17

Balance Sheet25

Cash Flow14

Per Share4

02—Overview

Super Micro Computer Financial Overview 2022–2026

Updated Nov 4, 2026

Supermicro's gross margin fell from 15.0% in FY2021 to 10.8% in FY2026, yet net income still hit $2.23 billiona. That is the whole story: the company is buying growth with thin margins and balance-sheet strain, and the market priced that tension at 9.0x earnings at the close of FY2026.

The long-term arc is stark. Net sales climbed from $5.20 billion in FY2022 to $39.06 billionb in FY2026, with FY2026 alone up from $21.97 billion. Over the same stretch, gross margin peaked at 18.0% in FY2023 before sliding every year after. Operating income of $2.77 billion in FY2026 shows volume is overpowering the squeeze, for now.

The cost shows up in cash. Operating cash flow was negative $6.81 billionc in FY2026, as inventories reached $12.90 billion and receivables $6.13 billion. Financing of $9.48 billion filled the gap, including $5.64 billion of equity raised in June 2026, and total indebtedness stood near $8.7 billion. Concentration compounds the risk: one customer made up 28.1% of FY2026 sales. Internal controls were still rated ineffective, with one material weakness remaining.

Investors paid 29.2x earnings at the close of FY2025, a $29.1 billiond market cap at $49.01 per share. By the close of FY2026, the stock sat at $29.33, a $19.3 billion market cap, even as EPS rose from $1.68 to $3.26. The market is discounting the earnings, and the data suggests the reasons are margin, cash burn and governance.

Recent Developments (Q3 and Q4 2026)

Q4 brought the sharpest margin swing: GAAP gross margin hit 17.5% versus 9.5% a year earlier, and net income reached $1.18 billione on $11.12 billion of sales. Management had guided to 8.2%–8.4%. Q3 sales of $10.24 billion had fallen from $12.7 billion in Q2. Orders then exceeded $60 billion in Q4. Management guided FY2027 sales to $65.0–$72.0 billion, and in October lifted Q1 FY2027 revenue to an estimated $18.5–$19.5 billion.

Leadership turned over. Sales chief Don Clegg retired in May 2026, and Mark Long replaced David Weigand as CFO on October 14, 2026. A 7.00% preferred issue adds fixed dividends from September 2026.

The bull case: record backlog and mix-driven margins. The bear case: some orders may not be firm and an export-control review could alter results. At 11.4x earnings as of the August 30, 2026 annual report date, not today, the stock is priced below its growth.

What to watch: Q1 FY2027 results on November 3, 2026 and whether margins hold above 12%; conclusion of the Board's export-control review

03—Filings

Recent SEC Filings

  1. 8-KSuper Micro Computer 8-K Report, Financial Results (Nov 3, 2026)
  2. 8-KSuper Micro Computer 8-K Report, Financial Results (Oct 20, 2026)On October 20, 2026, Super Micro Computer, Inc. (NASDAQ: SMCI) issued a preliminary business update for the first quarter of fiscal year 2027, the quarter ended September 30, 2026, and scheduled its earnings call for November 3, 2026 at 5:00 p.m. ET. The Company estimates first-quarter revenues in the range of $18.5 billion to $19.5 billion, compared with guidance of $14.5 billion to $15.5 billion, which it attributes primarily to increased demand for AI platforms. The Company also estimates gross margins of 12.0% to 12.5%, compared with guidance of 10.4% to 10.8%, which it attributes primarily to customer and product mix. Both figures are unaudited, based on preliminary results and management's estimates, and remain subject to the Company's financial closing procedures. The Company warns that actual results may differ materially and that its independent registered public accounting firm has not audited or reviewed the preliminary figures. The update is furnished under Item 2.02 and is not deemed filed for Exchange Act purposes. Investors should treat these ranges as preliminary and watch the November 3 earnings call for finalized results.
  3. 8-KSuper Micro Computer 8-K Report, Executive Changes (Oct 15, 2026)Super Micro Computer, Inc. filed this Current Report on Form 8-K dated October 15, 2026 to disclose a change in its Chief Financial Officer. On October 14, 2026, the Board of Directors appointed Mark Long as Chief Financial Officer, effective immediately, and David Weigand ceased serving in that role at the same time. Mr. Long, age 59, is a principal of Prime Impact Capital, LLC and previously served as Chief Financial Officer of Western Digital Corporation from 2016 to 2019, as well as Co-Chief Executive Officer and Chief Financial Officer of Prime Impact Acquisition I from 2020 to 2023. The filing states there are no arrangements or understandings tied to his selection, no family relationships with any director or executive officer, and no related-person transactions requiring disclosure under Item 404(a) of Regulation S-K. The filing describes Mr. Long's compensation under an employment offer letter. It provides for an annual base salary of $725,000 and a $500,000 sign-on bonus, which is subject to prorated repayment if he leaves before completing two years of employment. He is also to receive a guaranteed annual cash bonus of $500,000, plus an annual performance-based cash bonus ranging from $225,000 to $725,000 with terms still to be determined. He is eligible for an annual special bonus in restricted stock units. He is expected, subject to Compensation Committee approval, to receive an initial award of 120,000 restricted stock units and an option to purchase 150,000 shares of common stock, each vesting over four years. His employment is at will. For investors, the key takeaway is a leadership change in the finance function, with the filing identifying the incoming CFO's background and disclosing his compensation package. The filing does not state the reason for Mr. Weigand's departure. Exhibit 104 is the cover page interactive data file embedded in the inline XBRL document.
  4. 8-KSuper Micro Computer 8-K Report, Executive Changes (Oct 8, 2026)Super Micro Computer, Inc. filed a Current Report on Form 8-K dated October 8, 2026 reporting two board changes under Item 5.02. The Board appointed Shesha Krishnapura as an independent director, effective October 9, 2026. Mr. Krishnapura most recently served as Chief Technology Officer of Intel IT at Intel Corporation and as an Intel Fellow, over a 35-year career, with experience in high-performance computing, artificial intelligence infrastructure and data center operations. He will receive the Company's standard non-employee director compensation, as described in the fiscal 2026 Form 10-K. The filing also discloses that Judy Lin notified the Company on October 7, 2026 of her decision to retire from the Board, with her service concluding on October 9, 2026. Ms. Lin had served on the Board since April 2022 and currently chairs the Nominating and Corporate Governance Committee. The filing states that her retirement was not the result of any disagreement with the Company on its operations, policies or practices. The only exhibit listed is Exhibit 104, the Cover Page Interactive Data File. The filing contains no financial results or operating metrics.
  5. 8-KSuper Micro Computer 8-K Report, Financial Results (Aug 11, 2026)Super Micro Computer, Inc. filed a Form 8-K on August 11, 2026 furnishing a press release (Exhibit 99.1) announcing unaudited financial results for the fourth quarter and full fiscal year ended June 30, 2026. Fourth-quarter net sales were $11.12 billion, up from $10.2 billion in Q3'26 and $5.76 billion in Q4'25. Gross margin was 17.5% (GAAP) and net income was $1.18 billion, or $1.62 per diluted share, compared with $0.31 per diluted share in Q4'25. Non-GAAP diluted EPS was $1.70. For the full fiscal year, net sales were $39.06 billion versus $21.97 billion, and net income was $2.23 billion, or $3.26 per diluted share. Cash flow from operations was negative $6.81 billion for the year, driven by a $8.88 billion inventory increase and a $3.92 billion increase in accounts receivable. The balance sheet shows cash and equivalents of $7.52 billion against bank debt and convertible notes of $8.7 billion as of June 30, 2026. Inventories rose to $12.90 billion from $4.68 billion, and total current liabilities rose to $7.16 billion, including $2.04 billion of current lines of credit and term loans. The company also issued mandatory convertible preferred stock and common stock during the year. Management guided to first-quarter fiscal 2027 net sales of $14.5 billion to $15.5 billion and fiscal 2027 net sales of $65.0 billion to $72.0 billion. The press release states that the Board is conducting an independent review of certain transactions in connection with export-control issues, and that the outcome could affect forecasts and these preliminary results as well as prior period results. The figures are preliminary, unaudited, and not yet reviewed by the auditor.
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04—See also

Related Companies

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