SMCI surpasses Q2 profit expectations with revenue of $12.7 billion.

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Revenue and Profit Highlights

Super Micro reported $12.68 billion in Q2 revenue, far above the $10.42 billion forecast and more than double the $5.0 billion a year earlier. Net income rose to $401 million, with GAAP EPS of $0.60 and non‑GAAP EPS of $0.69.

Margin and Cost Structure

Gross margin slipped to 6.3% (non‑GAAP 6.4%) from 9.3% in Q1, while cost of sales reached $11.88 billion. Operating income was $474.3 million, and stock‑based compensation totaled $90.5 million across all expense categories.

Balance Sheet and Cash Flow

Total assets jumped to $28.0 billion, driven by receivables of $11.0 billion and inventories of $10.6 billion; liabilities stood at $21.0 billion and equity at $6.99 billion. Cash fell by $978.6 million to $4.19 billion, and net cash used in operations over six months was $941.4 million.

Outlook and Guidance

SMCI projects Q3 revenue of at least $12.3 billion and FY2026 revenue of $40 billion or more. GAAP EPS is expected at $0.52 and non‑GAAP EPS at $0.60, reflecting continued demand for its AI server and data‑center solutions.

SMCI surpasses Q2 profit expectations with revenue of $12.7 billion.

Revenue and Profit Highlights

Margin and Cost Structure

Balance Sheet and Cash Flow

Outlook and Guidance

SMCI surpasses Q2 profit expectations with revenue of $12.7 billion.