Supermicro (SMCI) Q4 2025 10-Q Quarterly Report
Supermicro (SMCI) 10-Q quarterly report for Q4 2025, filed with SEC EDGAR on Feb 6, 2026 for the fiscal period ending Dec 31, 2025. This page provides AI-powered analysis including management discussion & analysis (MD&A), risk factor updates, and key quarterly financial data such as revenue and net income extracted from XBRL.
Supermicro Q4 2025 10-Q Analysis
Management Discussion & Analysis
- • Revenue $12,682.5M Q2 FY2026, up 123.4% YoY from $5,678.0M, driven by AI GPU products (+169.7%) and datacenter orders
- • Gross margin 6.3% Q2 FY2026 vs 11.8% Q2 FY2025, a 5.5% decrease due to product mix, higher production costs, tariffs, and inventory write-downs
- • AI GPU segment best performer: $7,398.2M sales (+169.7% YoY); Other products declined 42.5% YoY (-$475.9M)
- • Operating expenses up 7.6% to $324.3M in Q2 FY2026; R&D +14.3%, driven by employee costs; Sales & marketing down 8.2% due to higher partner funding
- • Cash and equivalents decreased to $4.1B from $5.2B at June 30, 2025; operating cash flow negative $941.4M vs positive $169.1M prior year due to inventory and receivables growth
- • Management expects ongoing capital expenditures $200M-$220M for FY2026 for manufacturing and IT investments; emphasizing AI/datacenter expansion and new products
- • Near-term outlook challenged by lower margins from pricing strategy, tariffs, supply chain and inventory adjustments; positive demand for AI GPU solutions remains key growth driver
Risk Factors
- • No new or changed risk factors since 10-K for fiscal year ended June 30, 2025
- • Continued supply chain disruptions impacting component availability and delivery timelines
- • Exposure to competitive pricing pressures in server and storage markets affecting gross margins
- • Risks from cybersecurity threats potentially disrupting operations and customer trust
- • Foreign currency fluctuations, especially USD to CNY, impacting revenue and operating costs
Supermicro Q4 2025 Quarterly FinancialsXBRL
Revenue
$12.7B
▲ +123.4% YoY▲ +152.8% QoQ
Net Income
$401M
▲ +24.9% YoY▲ +138.0% QoQ
Net Margin
3.2%
▼ -249bp YoY▼ -20bp QoQ
Source: XBRL data from Supermicro Q4 2025 10-Q filing on SEC EDGAR. All figures in USD.
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