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

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

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

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

What is Sandisk's gross profit margin?

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

Did Sandisk beat or miss consensus estimates last quarter?

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

- **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.

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