Super Micro Computer Inc (SMCI) - Stock report

Super Micro Computer, Inc. builds complete computer systems—finished servers and storage machines rather than the chips inside them. Supermicro combines servers, storage, networking, cooling, software, and support into working systems that customers use to run heavy computing work, especially artificial intelligence, cloud, and edge applications. The buyers are large cloud providers, enterprises, equipment makers, and channel partners such as distributors and integrators; in fiscal year 2025 it sold to more than 1,000 customers in over 100 countries. Supermicro earns money by shipping these finished systems and attaching software, support, and services to each deployment. Bigger, better-configured systems can carry higher prices and wider margins.

In the fourth quarter of fiscal year 2026, net sales reached $11.1 billion, up from $5.8 billion a year earlier, while gross margin rose to 17.5% from 9.5%. Supermicro therefore did more than sell more systems: it retained a larger share of each revenue dollar after the direct cost of the systems sold.

Supermicro's board is reviewing certain transactions tied to export-control rules, and the fiscal year 2026 results are unaudited. Because the very figures people rely on could still be revised, this uncertainty can reach the company's value before it ever touches revenue or margin.