Super Micro posted 11.1 billion in revenue, missing estimates, while gross margins expanded sharply to 17.6 percent from the 10.9 percent full-year average, driven by mix shifts, deferrals, and one-time items. The company booked over 60 billion in orders, backing 65-72 billion revenue guidance, supported by nine customers above 1 billion each, GB300 NVL72 shipments, and DCBBS/software initiatives that lifted enterprise and channel revenue to 50 percent. Risks remain from 28 percent customer concentration, power and cooling delays, and unproven software attach rates that could pressure repeatability of margins and backlog conversion.

Company: Super Micro Computer, Inc. (SMCI) — Q4 FY2026

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