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- **Revenue growth acceleration**: FY2026 guidance raised to $36 billion, driven by $13 billion in AI GPU platform orders and DCBBS adoption.
- **AI leadership solidified**: NVIDIA Blackwell Ultra and B300 platforms dominate, with backlogs exceeding $13 billion.
- **DCBBS profitability**: Targeting 20%+ gross margins for data center infrastructure solutions, with initial shipments to key customers.
- **Global scale investment**: $52M in new manufacturing capacity to support 6,000 racks/month by end of FY2026.
- **Gross margin recovery path**: Short-term Q2 FY2026 decline expected, but long-term 15%-16% target remains achievable with DCBBS growth.

**【CEO Summary Section】**
- Q1 FY2026 revenue: $5 billion (down 15% YoY, down 13% QoQ) due to delayed shipments of $1.5 billion in AI GPU racks.
- Record new orders: $13 billion, driven by NVIDIA Blackwell Ultra and B300 platforms with backlogs exceeding $13 billion.
- DCBBS (Data Center Building Block Solution) launched, with initial shipments to key customers and expected rapid growth.
- Global expansion: New facilities in Taiwan, Netherlands, Malaysia, and Middle East to support 6,000 racks/month (3,000 DLC racks) by end of FY2026.
- Full year revenue guidance raised to $36 billion (from $33 billion), with Q2 FY2026 revenue expected to be at least $10.5 billion.

**【CFO Financial Commentary】**
- GAAP net income: $420 million; Non-GAAP EPS: $0.35 (vs. guidance of $0.40-$0.52).
- Gross margin: 9.5% (Q1 FY2026), expected to decline 300bps in Q2 due to new product ramps and customer support investments.
- Operating expenses: $203 million (non-GAAP, down 15% QoQ) due to lower R&D and marketing expenses.
- Cash flow: -$918 million (operating cash outflow) due to higher inventory and receivables.
- FY2026 outlook: Net sales of at least $36 billion, with GAAP EPS guidance of $0.37-$0.45 for Q2.

**【Q&A Key Highlights】**
- **Order pipeline**: $13 billion in new orders, driven by NVIDIA Blackwell Ultra and AMD MI350 platforms. 2 customers account for >10% of revenue.
- **Gross margin trends**: Q2 FY2026 gross margin expected to decline due to new product ramps, but long-term target of 15%-16% remains intact.
- **DCBBS impact**: DCBBS solutions target 20%+ gross margins, with initial shipments to large accounts and rapid adoption expected.
- **Capacity expansion**: $52M in new manufacturing capacity, with 6,000 racks/month (3,000 DLC) by end of FY2026.
- **Customer feedback**: DCBBS welcomed for faster deployment, cost savings, and improved efficiency. Large CSPs and enterprises driving demand.


Super Micro Computer, Inc. (SMCI) Q1 2026 Earnings Call Transcript

Revenue

Sales and Services Revenue

Financing Services Revenue

Other Revenue

Cost of Revenue

Cost of Goods and Services

Cost of Financing Services

Other Cost

Gross Profit

Other Operating Income

Operating Expenses

Selling, General and Administrative Expenses

Selling and Marketing Expenses

General and Administrative Expenses

Research and Development Expenses

Loss on Bad Debts

Loss on Impairment of Other Assets

Loss on Disposal of Assets

Other Operating Expenses

Operating Income

Non-Operating Income (Loss)

Income (Loss) from Affiliates

Income (Loss) from Associates

Income (Loss) from Joint ventures

Gain (Loss) on Other Investment

Gain (Loss) on Change in Fair Value

Gain (Loss) on Foreign Currency Exchange

Other Non-Operating Income (Loss)

Net Interest Expense

Interest Expense

Interest Income

Pretax Income From Continuing Operations

Income Tax Expense

Current Income Tax

Deferred Income Tax

Income Tax Adjustments

Net Income from Continuing Operations

Income from Discontinued Operations

Other Items Before Net Income

Net Income

Net Income Attributable to Minority Interests

Net Income Attributable to Owners of the Company

Preferred Stock Dividends

Other Adjustments

Net Income Attributable to Common Stockholders

Other Comprehensive Income

Total Comprehensive Income

Total Comprehensive Income Attributable to Minority Interests

Total Comprehensive Income Attributable to Owners of the Company

Basic EPS

Basic EPS from Continuing Operations

Basic EPS from Discontinued Operations

Diluted EPS

Diluted EPS from Continuing Operations

Diluted EPS from Discontinued Operations

SMCI

SMCI fundamentals

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