What is the market's earnings forecast for Sandisk next quarter?

What is Sandisk's gross profit margin?

What is the revenue and EPS growth rate for Sandisk year over year?

What guidance did Sandisk's management provide for the next earnings period?

What factors drove the changes in Sandisk's revenue and profit?

What does Sandisk do and what are its main business segments?

What is Sandisk's latest dividend and current dividend yield?

What were the key takeaways from Sandisk's earnings call?

- **Revenue Surge**: Q2 2026 revenue of $3.025 billion (+31% QoQ, +61% YoY), driven by AI-fueled data center growth (64% QoQ). 
- **Gross Margin Recovery**: Non-GAAP gross margin jumps to 51.1%, up from 29.9% prior quarter, with Q3 guidance of 65-67%.
- **Multiyear Agreements**: Signed first LTA with prepayment; multiple in pipeline to secure long-term demand visibility.
- **Data Center Dominance**: Data center to be largest NAND market in 2026, with exabyte growth expected at 60%+ YoY.
- **Cash & Debt Management**: Reduced debt to $603 million; prioritizes debt repayment and cash reserves for strategic investments.

**【CEO Summary Section】**
- Q2 2026 revenue: $3.025 billion (31% sequential growth, 61% YoY). Non-GAAP EPS: $6.20.
- Data center revenue up 64% QoQ, driven by AI infrastructure expansion. BiCS8 TLC drives qualify at hyperscalers; Stargate QLC expected to ship in next quarters.
- Transitioning to multiyear supply agreements with customers for better demand visibility and returns. Emphasizes NAND's role in AI, with data center becoming largest NAND market in 2026.
- Capital spending aligned with mid- to high-teens bit growth; no immediate plans to accelerate supply beyond current roadmap.

**【CFO Financial Commentary】**
- Q2 GAAP net income: $420 million. Non-GAAP gross margin: 51.1% (vs. 29.9% prior quarter). Free cash flow: $843 million (27.9% margin).
- Q3 2026 guidance: Revenue $4.4-4.8 billion, non-GAAP EPS $12-14. Gross margin: 65-67%. Operating expenses: $450-470 million.
- Extended JV with Kioxia through 2034, paying $1.165 billion for manufacturing services over 4 years.
- Debt reduced to $603 million; prioritizes debt repayment, cash reserves, and business investment.

**【Q&A Key Highlights】**
- **Long-Term Agreements (LTAs):** Signed one LTA with prepayment; multiple in pipeline. Customers seek supply assurance for AI-driven demand, especially in data center.
- **Supply/Demand Balance:** Market undersupplied in Q3; data center exabyte growth expected at 60%+ YoY. No plans to accelerate fab expansion beyond current CapEx.
- **Capital Allocation:** Focus on R&D (75% of OpEx), debt reduction, and prudent cash reserves. Tax rate expected to stabilize near 14-15%.
- **Enterprise SSD Growth:** Data center SSD revenue up 64% QoQ; BiCS8 QLC product to add tailwind in coming quarters. Enterprise SSD mix expected to grow meaningfully.
- **Consumer & Edge Markets:** Consumer revenue up 50% YoY; edge demand exceeds supply. Focus on premium products (e.g., Sandisk Extreme Fit) to optimize margin mix.

Sandisk Corporation (SNDK) Q2 2026 Earnings Call Transcript

- **Revenue Growth**: Q1 FY2026 revenue up 21% QoQ, driven by data center (26% growth) and consumer (11% growth) segments.
- **BICS8 Dominance**: 15% of Q1 bits shipped on BICS8, expected to dominate production by end of FY2026, enabling 128T SSDs for hyperscale AI workloads.
- **Free Cash Flow**: $448 million in Q1, with 19.4% free cash flow margin, and net cash position achieved six months ahead of schedule.
- **HBF Innovation**: Memory and controller in 2026-2027, targeting AI inference applications with SK Hynix ecosystem partnerships.
- **Q2 Guidance**: Revenue $2.55-$2.65 billion, non-GAAP EPS $3.00-$3.40, and gross margin 41-43% reflecting pricing and cost tailwinds.

**【CEO Summary Section】**
- SanDisk reported Q1 FY2026 revenue of $2.3 billion, up 21% sequentially and 23% year-over-year, driven by strong demand across data center, edge, and consumer markets.
- BICS8 technology, accounting for 15% of total bits shipped, is expected to dominate production by end of FY2026, enabling high-capacity, power-efficient SSDs for AI and data center applications.
- Data center revenue grew 26% sequentially, with five hyperscale customers in active qualification for Stargate SSDs, and consumer business saw 11% sequential growth, including 900,000 units sold of Nintendo Switch 2 microSD cards.
- The company achieved a net cash position six months ahead of schedule, with $448 million in adjusted free cash flow.

**【CFO Financial Commentary】**
- GAAP net income was $420 million, with non-GAAP EPS of $1.22, exceeding expectations. Non-GAAP gross margin improved 350 basis points to 29.9%, excluding $72 million in one-time costs.
- Q2 guidance: Revenue $2.55-$2.65 billion (up 11%-15%), non-GAAP EPS $3.00-$3.40, and free cash flow margin of 19.4%.
- Capital allocation priorities include Big Sage transition, data center expansion, and HBF innovation, with FY2026 CapEx aligned to mid-teens exabyte growth.

**【Q&A Key Highlights】**
- **Customer Engagement**: Hyperscale customers seeking multi-quarter supply commitments, with demand visibility extending to 2027. Strategic allocation prioritizes data center and edge customers.
- **Supply Dynamics**: fabs running at 100% utilization, with demand exceeding supply through 2026. BICS8 ramping to 15% of production by end of FY2026.
- **HBF Technology**: Memory and controller expected in 2026-2027, targeting AI inference applications in edge and data center. Customer engagements focus on use cases for high-bandwidth flash.
- **Market Share**: Data center revenue growth outpacing market, with BICS8 adoption driving exabyte share gains. Consumer business maintains attractive margins through cycles.
- **Pricing & Margins**: Q2 pricing up double digits, with gross margin guidance of 41-43% reflecting cost tailwinds and higher pricing.

Sandisk Corporation (SNDK) Q1 2026 Earnings Call Transcript

- **Revenue Beat and Margin Expansion**: Q4 revenue $1.9B (+12% QoQ), non-GAAP EPS $0.29. Q1 guidance for $2.1-2.2B revenue and 28.5-29.5% gross margin reflects improving margins.
- **BIX-eight Transition**: 7% of bits in Q4, scaling to 40-50% by FY26 end, driving cost efficiency. Fab startup costs ($60M in Q1) will decline post-Q2.
- **HBF Innovation**: HBF samples in 2026, targeting AI inference. Partnership with SK Hynix to standardize technology, with products in 2027.
- **Data Center Momentum**: 12% of bits in Q4, hyperscaler investments in AI driving demand. Qualifying second hyperscaler for compute SSDs, with QLC adoption accelerating.
- **Free Cash Flow and Debt Reduction**: $77M free cash flow in Q4, net debt $368M. FY26 expects net cash positive, with $100M debt prepayment post-Q4.

**【CEO Summary Section】**
- Q4 revenue of $1.9B exceeded guidance, up 12% QoQ and 8% YoY, driven by mid-single-digit growth in bit shipments and ASPs. Non-GAAP EPS was $0.29, beating expectations.
- Inventory reduced from 150 to 135 days, with net debt at $368M, progressing toward net cash positive. FY26 sees BIX-eight node transition, with QLC SSDs gaining traction in data centers and clients.
- Data center revenue up 25% YoY, client revenue up 3% YoY, consumer up 12% YoY. BIX-eight now 7% of bit shipments, expected to reach 40-50% by end of FY26.
- Introduced 2.6TB NVMe enterprise SSD and HBF (High Bandwidth Flash) technology, winning Best of Show at FMS. HBF samples expected in 2026, with controller in 2027.

**【CFO Financial Commentary】**
- Q4 non-GAAP gross margin 26.4%, within guidance (25.5-27%), excluding $51M underutilization and $42M fab startup costs. Adjusted gross margin 31.3%.
- Q1 guidance: Revenue $2.1-2.2B (midpoint +13% QoQ), non-GAAP EPS $0.70-0.90. Gross margin 28.5-29.5%, with $10-15M underutilization and $60M startup costs.
- Free cash flow $77M in Q4, with $1.5B cash and $1.8B long-term debt. FY26 expects supply-demand undersupply, supporting price increases.

**【Q&A Key Highlights】**
- **Gross Margin Dynamics**: Q1 underutilization costs drop to $10-15M (from $51M in Q4), with fab startup costs declining post-Q2. BIX-eight ramp to 40-50% of bits by FY26 end will drive cost efficiency.
- **HBF Technology**: SK Hynix partnership to standardize HBF, with samples in 2026 and products in 2027. Targeted for AI inference at edge and cloud.
- **Tariffs and Supply Chain**: Monitoring semiconductor tariffs, with global fab footprint flexibility. No major share shifts in data center despite competitors' moves.
- **Data Center Growth**: 12% of bits in Q4, targeting fair share as hyperscalers invest in AI. Qualifying second hyperscaler for compute SSDs, with QLC adoption accelerating.
- **Consumer and Mobile**: BIX5 tech strong in consumer, new USB4 SSD and Nintendo/Xbox partnerships. Mobile premium solutions approved for key customers.


Actual	1.23	-0.3	0.29	1.22	6.2
Forecast	1.2167	-0.3812	0.0466	0.8831	3.6166	13.911
Surprise	+1.09%	+21.30%	+522.32%	+38.15%	+71.43%	0.00%

Actual	1.88B	1.70B	1.90B	2.31B	3.02B	--
Forecast	1.88B	1.62B	1.82B	2.15B	2.69B	4.58B
Surprise	0.00%	+4.50%	+4.23%	+7.25%	+12.55%	0.00%

SNDK

SNDK fundamentals

SNDK Q3 2026 Earnings Preview

Earnings Call

You can ask Aime

SNDK

SNDK fundamentals

SNDK Q3 2026 Earnings Preview

Earnings Call

SNDK Earnings Call Summary for Q3/2026Upcoming4:30 PM on Apr 30, 2026

SNDK Earnings Call Summary for Q2/20264:30 PM on Jan 29, 2026

SNDK Earnings Call Summary for Q1/20264:30 PM on Nov 6, 2025

SNDK Earnings Call Summary for Q4/20254:30 PM on Aug 14, 2025

SNDK Earnings Call Summary for Q3/2025 Apr 3, 2026

You can ask Aime