Short answer
Seagate Technology (STX) filed its Q1 2026 10-Q quarterly report on Jan 30, 2026 for the quarter ended Jan 2, 2026. Quarterly revenue was $2.8B (up 21.5% year over year) with net income of $593M.
Q1 2026 key financials · XBRL
- Revenue
- $2.8B
- +21.5% YoY · +7.5% QoQ
- Net income
- $593M
- +76.5% YoY · +8.0% QoQ
- Operating margin
- 29.8%
- EPS (diluted)
- $2.60
- +68.8% YoY · +7.0% QoQ
Source: XBRL data from the Seagate Technology (STX) Q1 2026 10-Q on SEC EDGAR. USD.
Seagate Technology Q1 2026 10-Q analysis
AI summary of MD&A and risk factor updates
Management Discussion & Analysis
- Revenue $2.83B Q2 FY26, up $500M (22%) YoY from $2.33B Q2 FY25, driven by higher nearline exabytes shipped and pricing actions
- Gross margin 41.6% Q2 FY26 vs 34.6% Q2 FY25, up 7 points YoY due to pricing and favorable mix
- Data center segment (majority business) showed strongest demand growth; total HDD exabytes shipped 190 EB vs 151 EB YoY
- Operating cash flow $723M Q2 FY26; retired $500M long-term debt and paid $154M dividends this quarter
- FY26 outlook notes strong demand in data center/AIdriven storage, but cautions on macroeconomic uncertainties and trade risks
Risk Factors
- New export compliance risk from April 2023 Settlement Agreement with BIS on Huawei sales requiring audits and risking denial order if breached
- Financial risk: 2028 Notes conditional exchange could force cash payments and require reclassification as current liability, hurting net working capital
- Regulatory risk: evolving US export controls on encryption tech, with potential penalties and restricted sales in Asia Pacific region
- Operational risk: supply chain vulnerable to Chinese rare earth export restrictions and dependence on single-source suppliers for critical HDD components
- Market risk: customer consolidation and pricing pressures causing volume volatility and margin erosion, especially from hyperscale data centers and distributors
Generated from the filing text; verify against the original. 10-K vs 10-Q vs 8-K
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