--- title: "Super Micro Computer | 10-Q: FY2026 Q2 Revenue Beats Estimate at USD 12.68 B" type: "News" locale: "en" url: "https://longbridge.com/en/news/275178351.md" datetime: "2026-02-06T22:06:03.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/275178351.md) - [en](https://longbridge.com/en/news/275178351.md) - [zh-HK](https://longbridge.com/zh-HK/news/275178351.md) generator: "portal-rs" --- # Super Micro Computer | 10-Q: FY2026 Q2 Revenue Beats Estimate at USD 12.68 B Revenue: As of FY2026 Q2, the actual value is USD 12.68 B, beating the estimate of USD 10.34 B. EPS: As of FY2026 Q2, the actual value is USD 0.6, beating the estimate of USD 0.385. EBIT: As of FY2026 Q2, the actual value is USD 448.61 M. Super Micro Computer, Inc. operates in a single segment, focusing on high-performance server solutions based on modular and open-standard architecture . #### Net Sales - Net sales for the three months ended December 31, 2025, were $12,682.5 million, marking a 123.4% increase compared to $5,678.0 million in the prior year, primarily driven by datacenter deployment orders, a significant design win, and an increase in average selling price due to product mix . - AI GPU related product billings increased by $7,398.2 million, or 169.7%, year-over-year for the three months ended December 31, 2025, which includes liquid-cooled and air-cooled servers with higher average selling prices . This growth was partially offset by a $475.9 million, or 42.5%, decrease in sales across other product categories . - For the six months ended December 31, 2025, net sales were $17,700.3 million, a 52.4% increase from $11,615.2 million in the prior year . AI GPU related product billings increased by $6,870.4 million, or 77.4%, year-over-year for the six months ended December 31, 2025, partially offset by a $784.5 million, or 34.3%, decrease in other product categories . - Geographically, United States sales were $10,928.946 million (86.2% of total) for the three months ended December 31, 2025, and $12,763.423 million (72.1% of total) for the six months ended December 31, 2025 . Other international sales accounted for $1,753.545 million (13.8% of total) and $4,936.858 million (27.9% of total) for the respective periods . - Customer A accounted for 62.6% of total net sales for the three months ended December 31, 2025, and 45.1% for the six months ended December 31, 2025 . Customer B accounted for 27.1% and 23.9% for the three and six months ended December 31, 2024, respectively . - Revenue from services and software was $140.4 million for the three months ended December 31, 2025 (up from $76.9 million in 2024), and $228.0 million for the six months ended December 31, 2025 (up from $172.7 million in 2024) . #### Gross Profit and Gross Margin - Gross profit for the three months ended December 31, 2025, was $798.6 million, an increase from $670.1 million in 2024 . - Gross margin decreased to 6.3% for the three months ended December 31, 2025, from 11.8% in the prior year, primarily due to a strategy of competitive pricing to gain market share and a change in product and customer mix . - For the six months ended December 31, 2025, gross profit was $1,266.0 million, a decrease from $1,445.6 million in 2024 . - Gross margin for the six months ended December 31, 2025, was 7.2%, down from 12.4% in the prior year, attributed to changes in product/customer mix, higher production and expedite costs for new AI GPU platforms, and increased tariff expenses and inventory write-downs . #### Operating Expenses - Total operating expenses increased by 7.6% to $324.3 million for the three months ended December 31, 2025, compared to $301.4 million in 2024, mainly due to higher headcount and increased salary and stock-based compensation . - Research and development (R&D) expenses increased by 14.3% to $180.8 million for the three months ended December 31, 2025, and by 21.9% to $354.1 million for the six months ended December 31, 2025, primarily due to increased employee-related costs and investment in key talent . - Sales and marketing expenses decreased by 8.2% to $73.1 million for the three months ended December 31, 2025, and by 18.5% to $121.0 million for the six months ended December 31, 2025, mainly due to higher marketing development funds received and reduced standard marketing activities, partially offset by increased employee-related costs . - General and administrative (G&A) expenses increased by 10.7% to $70.4 million for the three months ended December 31, 2025, and by 4.2% to $134.3 million for the six months ended December 31, 2025, driven by increases in excise and franchise tax expense, indirect facilities costs, and consulting fees, partially offset by reductions in legal and audit/tax fees . #### Income from Operations - Income from operations was $474.3 million for the three months ended December 31, 2025, compared to $368.7 million in 2024 . - For the six months ended December 31, 2025, income from operations was $656.6 million, down from $877.8 million in 2024 . #### Net Income - Net income for the three months ended December 31, 2025, was $400.6 million, up from $320.6 million in 2024 . - Net income for the six months ended December 31, 2025, was $568.8 million, down from $744.9 million in 2024 . #### Interest and Other Income/Expense - Interest income significantly increased to $51.0 million for the three months ended December 31, 2025 (from $8.8 million in 2024), and to $102.4 million for the six months ended December 31, 2025 (from $16.8 million in 2024), due to higher cash deposits from convertible notes issuance . - Interest expense increased to $25.3 million for the three months ended December 31, 2025 (from $6.5 million in 2024), and to $50.3 million for the six months ended December 31, 2025 (from $23.9 million in 2024), primarily due to interest and amortization related to the amended 2029 Convertible Notes and new 2028 and 2030 Convertible Notes . - Other income, net, decreased to $0.2 million for the three months ended December 31, 2025 (from $4.2 million in 2024), due to unfavorable foreign currency fluctuations . For the six months ended December 31, 2025, other income, net, was $0.1 million (from $3.4 million in 2024), impacted by a - $13.7 million impairment loss on non-marketable investments, partially offset by a $7.9 million gain from mark-to-market adjustments on marketable equity securities . #### Income Tax Provision - Income tax provision was - $99.1 million for the three months ended December 31, 2025, and - $139.3 million for the six months ended December 31, 2025 . - The effective tax rate was -19.8% for the three months ended December 31, 2025, and -19.7% for the six months ended December 31, 2025, which were higher than the prior year periods due to decreased tax deductions from stock-based compensation and lower research tax credits, combined with increased state taxes . #### Cash Flow - Net cash used in operating activities for the six months ended December 31, 2025, was - $941.4 million, a decrease from $169.1 million provided by operating activities in the prior year, primarily due to increased inventory purchases, accounts receivables, and operational spending . - Net cash used in investing activities for the six months ended December 31, 2025, was - $78.5 million, up from - $71.8 million in the prior year, mainly due to increased purchases of property, plant, and equipment ($53.5 million) and investments in equity securities ($25.0 million) . - Net cash provided by financing activities for the six months ended December 31, 2025, was $47.5 million, a significant increase from - $337.4 million used in financing activities in the prior year, mainly due to net proceeds from lines of credit and term loans . #### Other Key Metrics - Inventory valuation adjustment write-down totaled $132.9 million for the three months ended December 31, 2025 (vs. $24.9 million in 2024), and $169.1 million for the six months ended December 31, 2025 (vs. $34.0 million in 2024) . - Stock-based compensation expense was $90.5 million for the three months ended December 31, 2025 (vs. $82.1 million in 2024), and $179.6 million for the six months ended December 31, 2025 (vs. $146.1 million in 2024) . - Impairment loss was $0.0 million for the three months ended December 31, 2025, and - $13.7 million for the six months ended December 31, 2025 . - Total current liabilities as of December 31, 2025, were $15,396.708 million, significantly up from $2,344.792 million as of June 30, 2025 . Accounts payable increased to $13,753.207 million from $1,281.977 million in the same period . - Non-cancelable purchase commitments as of December 31, 2025, were $3.9 billion, including $276.3 million for related parties . #### Future Outlook and Strategy Super Micro Computer, Inc. aims to increase sales and profits by developing flexible application-optimized server and storage solutions, rapidly bringing new features and products to market, and delivering Total IT Solutions . The company plans to expand software offerings, enhance customer service, and strengthen its network of sales partners and distribution channels, focusing on large enterprise and data center customers . Capital expenditures for the remainder of fiscal year 2026 are anticipated to be in the range of $200.0 million to $220.0 million, primarily for global manufacturing capabilities, new information technology investments, and facilities upgrades and expansion . ### Related Stocks - [SMCI.US](https://longbridge.com/en/quote/SMCI.US.md) ## Related News & Research - [Asian LAB prices firm as supply tightens, feedstock costs rise — Neil A Burns](https://longbridge.com/en/news/303835055.md) - [Erdogan says attacks on commercial vessels in Black Sea unacceptable](https://longbridge.com/en/news/303835969.md) - [Russia's FSB says US warned Russia of planned Moscow attack, RIA reports](https://longbridge.com/en/news/303835049.md) - [Bekasi Asri Pemula Tax Payables Rise 155% at End-September](https://longbridge.com/en/news/303836284.md) - [Binance Details $6.3B Hot-Wallet Breach as Exchange Pledges to Cover Losses](https://longbridge.com/en/news/303834977.md) --- > **Disclaimer: This article is for reference only and does not constitute any investment advice.**