Short answer
Sandisk (SNDK) filed its Q1 2026 10-Q quarterly report on Jan 30, 2026 for the quarter ended Jan 2, 2026. Quarterly revenue was $3.0B (down 19.5% year over year) with net income of $803M.
Q1 2026 key financials · XBRL
- Revenue
- $3.0B
- −19.5% YoY · +31.1% QoQ
- Net income
- $803M
- +154.9% YoY · +617.0% QoQ
- Operating margin
- 35.2%
- Gross margin
- 50.9%
- EPS (diluted)
- $5.27
- +602.7% QoQ
Source: XBRL data from the Sandisk (SNDK) Q1 2026 10-Q on SEC EDGAR. USD.
Sandisk Q1 2026 10-Q analysis
AI summary of MD&A and risk factor updates
Management Discussion & Analysis
- Revenue $3.03B, up 61% YoY from $1.88B, driven by increased ASP (+36%) and exabytes sold (+22%)
- Operating margin 35.2% vs 10.3% YoY; gross margin 50.9% vs 32.3% YoY for the quarter ended Jan 2, 2026
- Best performing segment: Datacenter, revenue up 76% YoY; worst not specified, but Consumer up 52% YoY
- Operating cash flow $1.51B vs -$36M prior year; Capital expenditures $89M vs $115M prior year period
- Management expects NAND supply-demand imbalance and AI-driven demand to persist through 2026; monitoring U.S. trade policy impacts on costs and margins
Risk Factors
- New risk: Ongoing operational and financial commitments with Flash Ventures extended to 2034 via recent agreements totaling $1.2B from 2026-2029
- Most materially updated risk: Increased tax-related exposure due to the One Big Beautiful Bill Act impacting 2025 tax provision with a recorded $29M benefit
- Most impactful regulatory risk: Tax indemnification liability of $68M tied to spin-off with Western Digital Corporation, reflecting unresolved pre-spin-off tax positions
- Operational risk: Temporary reduced utilization of Flash Ventures’ manufacturing capacity caused $28M cost charge impacting cost of revenue amid flash market conditions
- Financial risk: $2.0B term loan due 2032 with $1.5B drawn and $1.5B revolving credit facility undrawn; compliance with leverage ratio covenant maintained as of Jan 2, 2026
Generated from the filing text; verify against the original. 10-K vs 10-Q vs 8-K
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