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Super Micro Computer, Inc. (SMCI) perpetual futures
SMCI perpetual futures on 20 crypto exchanges – live perp price vs the stock, funding rate, open interest and where to trade SMCIUSDT.
Super Micro Computer designs and sells modular, open-standard server and storage solutions, including AI servers and liquid cooling, for data centers and edge computing.
$26.16-0.4%NASDAQ closed
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venue perp mark · Bitget (SMCI/USDT)
Auto: highest-volume live perp venueOpen in TradingView
Trading data
Perpetual market activity
20/21 live markets
Trading data
Perpetual market activity
Venues
20
Live markets
20/21
24h volume
$5.2MCoverage: 17/20 marketsExchange-reported volume: $7.8M
Open interest
$10.8MCoverage: 18/20 markets
Best liquidity
$1.1M
MEXC
Tightest spread
+3.8 bps
Bitunix
Highest volume
$1.9M
Bitget
Settlement mix
USDT · 15/21
Perp/spot vol.
0.00x
Spot volume $1.2B
OI / float
+0.07%
Float $14.6B
Spot performance
1D-0.46%
5D-4.46%
1M-23.44%
6M-13.45%
YTD-8.22%
1Y-21.22%
Venue matrix
21 markets
Some venue links are sponsored. We may receive a commission, and eligible users may occasionally receive trading-fee discounts, at no additional cost to you.
| Trade | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
 Bitget | Trade | SMCI/USDT | Trading | $26.13 | 0.0% APR 0.000% every 8h | +5.0 bps | $899.1K | $1.9M | $926.8K | USDT | 20x | |
 Binance | Trade | SMCI/USDT | Trading | $26.13 | 0.0% APR 0.000% every 8h | +3.8 bps | $498.9K | $1.8M | $5.6M | USDT | - | |
 Gate.io | Trade | SMCI/USDT | Trading | $26.10 | 0.0% APR 0.000% every 8h | +3.8 bps | $9.5K | $302.9K | $453.7K | USDT | 50x | |
 OKX | Trade | SMCI/USDT | Trading | $26.11 | 0.0% APR 0.000% every 8h | +11.5 bps | $19.8K | $237.2K | $568.1K | USDT | 20x | |
 XT.com | Trade | SMCI/USDT | Trading | $26.14 | +11.0% APR +0.010% every 8h | +7.6 bps | $12.4K | $226.7K | - | USDT | 20x | |
 Bitunix | Trade | SMCI/USDT | Trading | $26.13 | +3.9% APR +0.00353% every 8h | +3.8 bps | $710.8K | $196.8K | $105.4K | USDT | 20x | |
 Phemex | Trade | SMCI / USDT | Trading | $26.11 | 0.0% APR 0.000% every 8h | +3.8 bps | $66K | $129.7K | $1.3M | USDT | 10x | |
 GRVT | Trade | SMCI/USDT | Trading | $26.14 | 0.0% APR 0.000% every 8h | +15.3 bps | $48.8K | $112.5K | $723 | USDT | - | |
 MEXC | Trade | SMCI/USDT | Trading | $26.16 | 0.0% APR 0.000% every 8h | +26.8 bps | $1.1M | $104.7K | $572.6K | USDT | 50x | |
 HTX | Trade | SMCI/USDT | Trading | $26.16 | +11.0% APR +0.010% every 8h | +15.3 bps | $151.2K | $86.8K | $7.4K | USDT | - | |
 Hyperliquid HIP-3 | Trade | para:SMCI | Trading | $26.08 | -212.1% APR -0.024% every 1h | +19.6 bps | $56.4K | $74.7K | $378.5K | USDC | 10x | |
 Bybit | Trade | SMCI/USDT | Trading | $26.13 | 0.0% APR 0.000% every 8h | +11.5 bps | $12.5K | $54.1K | $439.3K | USDT | 25x | |
 Helix (Injective) | Trade | SMCI/USDC | Trading | $26.32 | +3.6% APR +0.00042% every 1h | - | $0 | $35.4K | - | USDC | 12x | |
 Variational | Trade | SMCI/USDC | Trading | $26.12 | 0.0% APR 0.000% every 8h | +16.0 bps | no public depth feed | $9.3K | $81.6K | USDC | - | |
 BloFin | Trade | SMCI/USDT | Trading | $26.13 | +1.6% APR +0.00146% every 8h | +15.3 bps | $317.9K | $4.1K | $117.2K | USDT | 20x | |
 Crypto.com Exchange | Trade | SMCI/USD | Trading | $26.08 | +5.0% APR +0.00057% every 1h | +19.2 bps | $4.3K | $0 | $3.5K | USD | 50x | |
 Extended | Trade | SMCI/USD | Trading | $26.11 | 0.0% APR 0.000% every 1h | +8.0 bps | - | $0 | $599.9 | USD | 10x | |
 Ondo Perps | Trade | SMCI/USD | Watchlist | - | - | - | - | - | - | USDC | 10x | |
 BingX | Trade | SMCI-USDT | Trading | $26.13 | +5.5% APR +0.00500% every 8h | +19.1 bps | $488.2K | $1.2M⚠ | $2.6K | USDT | - | |
 KuCoin | Trade | SMCI/USDT | Trading | $26.13 | 0.0% APR 0.000% every 8h | +23.0 bps | $7.2K | $766.5K⚠ | $150.7K | USDT | 20x | |
 LBank | Trade | SMCI/USDT | Trading | $26.14 | 0.0% APR 0.000% every 8h | +7.7 bps | $954.5K | $607.8K⚠ | $62K | USDT | 50x |
Unverified volume: implausibly high against open interest, a typical sign of wash trading. These venues are listed last.
Tokenized wrappers of the real stock, tradable on-chain and on crypto exchanges around the clock. Premium/discount compares the token price to our stock reference price. Data: CoinMarketCap · Robinhood · DexScreener · GeckoTerminal.
| Product | Price | Premium vs stock | 24h Vol. | Market Cap | Chains |
|---|---|---|---|---|---|
| SMCIBbStocks | $26.10 | -0.21% | $950k | $1.1M | BNB Smart Chain (BEP20) |
| SMCIonOndo GM | $26.23 | +0.26% | $846k | $1.6M | Ethereum · BNB Smart Chain (BEP20) · Solana |
| SMCIxxStocks | $26.86 | +2.68% | $19 | $774k | Solana · Ethereum · Mantle · Ink |
| SMCIRobinhood | $26.90 | +2.83% | $6 | $13k | Robinhood Chain |
| rSMCITokenized | $26.30 | +0.53% | – | $159k | Arbitrum |
| Exchange | Pair | Price | 24h Vol. | Liquidity |
|---|---|---|---|---|
 ramsesDEX · robinhood | SMCI/USDG ↗ | $26.90 | $6 | $9k |
Tradability
Execution quality
Entry cost and depth per venue at $1k–$100k
Tradability
Execution quality
Entry cost and depth per venue at $1k–$100kBroad liquidity · 14 of 20 venues absorb $10k · Typical cost: +16.0 bps – +60.9 bps
Cheapest execution: Bitunix · +10.8 bps
Too thin: Gate.io, KuCoin, Crypto.com Exchange
No fresh book data: Helix (Injective), Variational, Extended
Taker execution estimate incl. approx. fees - maker fills are not guaranteed.
Best venues for this underlying
Best liquidity
SMCITightest spread
SMCIHighest volume
SMCIFunding history
Stored venue snapshots by market
Funding history
Stored venue snapshots by marketNext catalyst
Catalysts
Next catalyst
Catalysts
Earnings
2027-02-02
Revenue est. $20.5B · Updated 2h ago
No unusual perp activity right now.
Reference data
Market context
Reference data
Market context
NASDAQ
Extended-hours reference
Bid26.3
Ask26.36
Volume45,568,121
Research data
Analysts, filings and peer context
Research data
Analysts, filings and peer context
Estimates
6DateEPS estimateRevenue estimateGrowthAnalysts
FY 20276.52$77.6B+99%11
FY 20286.94$86.3B+11%11
FY 20296.97$96.1B+11%1
Q3 20271.62$21.1B+6%5
Q4 20271.79$21.9B+94%5
Q1 20281.75$20.8B+5%6
Source: FMP · Consensus
Company events
62027-02-02EarningsActual - / Estimate 1.78-
2026-11-03Earnings · After market closeActual 1.81 / Estimate 1.28Beat
2026-08-11Earnings · After market closeActual 1.70 / Estimate 0.923Beat
2026-05-05EarningsActual 0.84 / Estimate 0.617Beat
2026-02-03EarningsActual 0.69 / Estimate 0.49Beat
2025-11-04EarningsActual 0.35 / Estimate 0.375Miss
Peer comparison
Similar listed perpsRevenue mix
Latest annualUNITED STATESGeographic$27.7B
AsiaGeographic$6.1B
EuropeGeographic$2.7B
Analysts
Price targets in USD| Consensus rating | Hold |
|---|---|
| Average 12-month price target | $42.36 |
| 12-month target range (low – high) | $18 – $65 |
| Ratings in the provider's consensus | 28 |
Price targets as of 2026-11-15
Analyst rating history
Ratings| Month | Strong buy | Buy | Hold | Sell | Strong sell |
|---|---|---|---|---|---|
| Nov 2026 | 2 | 2 | 11 | 2 | 1 |
| Oct 2026 | 2 | 3 | 11 | 2 | 1 |
| Sep 2026 | 2 | 3 | 11 | 2 | 1 |
| Aug 2026 | 2 | 3 | 11 | 2 | 1 |
| Jul 2026 | 2 | 3 | 11 | 2 | 1 |
| Jun 2026 | 2 | 3 | 11 | 2 | 1 |
| May 2026 | 2 | 3 | 10 | 2 | 2 |
| Apr 2026 | 2 | 3 | 9 | 2 | 2 |
| Mar 2026 | 3 | 5 | 9 | 2 | 2 |
| Feb 2026 | 3 | 5 | 8 | 2 | 1 |
| Jan 2026 | 3 | 5 | 8 | 2 | 1 |
| Dec 2025 | 3 | 5 | 10 | 2 | 1 |
Ownership
Institutional · 2026-Q3Free float84.9%560M shares
Shares outstanding659.2M shares
Institutional50.9%777 investors
Investor count change-130
Reference market activity
SMCI-PERPDay range (Nov 13)$25.89$27.3
52 week$19.48$51.4
Spot volume45M
Average volume-
Price performance
111D-0.5%
5D-4.5%
1M-23.4%
3M-32.6%
6M-13.5%
YTD-8.2%
1Y-21.2%
3Y-6.7%
5Y+523.3%
10Y+945.3%
MAX+2,966.8%
Insider activity
FY2026 Q4Acquisitions23 transactions361,580 shares
Dispositions24 transactions222,891 shares
Purchases1Ratio 0.96
Sales2
Insider transactions
25DateReporting persontransactionssharesPriceFilings
Super Micro officer Vikranth Malyala converted 3,248 RSUs into 3,248 common shares and had 1,654 shares withheld for tax at $27.79, leaving 48,913 shares owned.
Super Micro officer Thauberger Matthew exercised 420 restricted stock units into 420 common shares, then had 214 shares withheld for taxes at $27.79; he held 6,693 shares after.
Super Micro director Liu Liang Chiu-Chu Sara converted 3,135 restricted stock units into 3,135 common shares and had 1,692 shares withheld for tax at $27.79, leaving 338,477 shares owned.
CEO Liang Charles exercised 3,135 restricted stock units into 3,135 common shares and had 1,692 common shares withheld for tax at $27.79. He held 338,477 common shares after.
Super Micro officer Xiao Jin exercised options for 2,995 common shares and had 1,525 shares withheld for taxes at $27.79, leaving 195,553 shares owned.
Filings
91 · Latest SEC filings2026-11-124Insider transaction report (Form 4)
Super Micro officer Xiao Jin exercised options for 2,995 common shares and had 1,525 shares withheld for taxes at $27.79, leaving 195,553 shares owned.
2026-11-124Insider transaction report (Form 4)
SMCI officer Cheung Kenneth exercised 2,107 restricted stock units into 2,107 common shares (M-Exempt) and had 1,074 shares withheld for taxes at $27.79 (F-InKind) on 2026-11-10.
2026-11-124Insider transaction report (Form 4)
Super Micro officer Vikranth Malyala converted 3,248 RSUs into 3,248 common shares and had 1,654 shares withheld for tax at $27.79, leaving 48,913 shares owned.
2026-11-124Insider transaction report (Form 4)
Super Micro officer Thauberger Matthew exercised 420 restricted stock units into 420 common shares, then had 214 shares withheld for taxes at $27.79; he held 6,693 shares after.
2026-11-124Insider transaction report (Form 4)
Super Micro director Liu Liang Chiu-Chu Sara converted 3,135 restricted stock units into 3,135 common shares and had 1,692 shares withheld for tax at $27.79, leaving 338,477 shares owned.
2026-11-124Insider transaction report (Form 4)
CEO Liang Charles exercised 3,135 restricted stock units into 3,135 common shares and had 1,692 common shares withheld for tax at $27.79. He held 338,477 common shares after.
2026-11-104Insider transaction report (Form 4)
SMCI CFO Mark P. Long received a grant of 150,000 employee stock options (exercise price $28.76) and 120,000 restricted stock units on 2026-11-06. These are compensation awards, not open-market purchases.
2026-11-104Insider transaction report (Form 4)
Director Krishnapura Sheshaprasad Govindaraju received an award of 4,919 restricted stock units at $0.00 on 2026-11-06, disclosed in a Form 4 filed 2026-11-10; holdings after were 4,919 units.
2026-11-104Insider transaction report (Form 4)
Super Micro Computer director Scott Angel bought 1,715 common shares on the open market at $29.1199 per share on Nov 6, 2026, raising his holding to 8,770 shares.
2026-10-294Insider transaction report (Form 4)
Director Liu Liang Chiu-Chu Sara was awarded 15,453 restricted stock units (2 grants) at $0.00 on 2026-10-27.
2026-10-294Insider transaction report (Form 4)
Super Micro Computer officer Kenneth Cheung (SVP, Chief Accounting Officer) received an award of 6,000 restricted stock units on Oct 27, 2026, at $0.00 per unit, per a Form 4 filed Oct 29, 2026.
2026-10-294Insider transaction report (Form 4)
Super Micro Computer officer Matthew Thauberger (Chief Revenue Officer) received an award of 10,000 restricted stock units at $0.00 on Oct 27, 2026, leaving him with 10,000 owned after the grant.
2026-10-294Insider transaction report (Form 4)
Super Micro officer Vikranth Malyala received a 14,000 Restricted Stock Unit award on 2026-10-27, raising his holdings to 14,000. This is compensation, not an open-market purchase.
2026-10-294Insider transaction report (Form 4)
Super Micro Computer officer Xiao Jin received an award of 9,000 restricted stock units on Oct 27, 2026, at $0.00, leaving 9,000 owned after the transaction.
2026-10-294Insider transaction report (Form 4)
Super Micro Computer CEO Charles Liang received 15,453 restricted stock units in two award grants on 2026-10-27, at $0.00 per unit (compensation, not a purchase).
2026-10-223Initial insider ownership statement (Form 3)
Form 3 filed by officer Mark P. Long on 2026-10-22; it contains one reported line dated 2026-10-14 with 0 shares of common stock at $0.00 and 0 shares owned after.
2026-10-213/AInitial insider ownership statement (Form 3)
Super Micro Computer director Krishnapura S. Govindaraju filed an amended Form 3 showing no reportable share change (0 shares, no transaction code).
2026-10-203Initial insider ownership statement (Form 3)
Super Micro Computer director Krishnapura Sheshaprasad Govindaraju filed an initial Form 3 on 2026-10-20 reporting 0 shares of common stock as of 2026-10-09.
2026-10-094Insider transaction report (Form 4)
Super Micro Computer director and 10% owner Liu Liang Chiu-Chu Sara sold 100,000 shares of Common Stock at $45.02 on Oct 7, 2026, leaving 337,506 shares held.
2026-10-094Insider transaction report (Form 4)
SMCI director and CEO Charles Liang sold 100,000 common shares at $45.02 on Oct 7, 2026, leaving 337,506 shares held.
2026-09-084Insider transaction report (Form 4)
CEO Liang Charles sold 200,000 common shares of Super Micro Computer in three open-market transactions from Sep 3–4, at prices between $36.60 and $40.00.
2026-09-084Insider transaction report (Form 4)
Director Sara Liu sold 200,000 shares of Super Micro Computer common stock in three open-market transactions between Sept 3-4, 2026, at prices ranging from $36.60 to $40.00.
2026-08-314Insider transaction report (Form 4)
On 2026-08-27, Vikranth Malyala (SVP, Chief Business Officer) received a grant of 8,060 restricted stock units at no cost, bringing his total holdings to 8,060.
2026-08-314Insider transaction report (Form 4)
Xiao Jin, Sr. Corporate VP of Engineering at SMCI, was awarded 2,112 restricted stock units on 2026-08-27.
2026-08-314Insider transaction report (Form 4)
David E. Weigand, CFO of Super Micro Computer, received a grant of 24,093 restricted stock units.
2026-08-194Insider transaction report (Form 4)
Director Liu Liang Chiu-Chu Sara converted 3,650 restricted stock units into 3,650 common shares at $0.00 on 2026-08-17, and 1,970 shares were withheld for taxes at $38.28. She held 637,506 shares after.
2026-08-194Insider transaction report (Form 4)
Super Micro officer Vikranth Malyala exercised 6,000 restricted stock units into 6,000 common shares and had 3,053 shares withheld for taxes at $38.28, leaving 47,877 shares owned.
2026-08-194Insider transaction report (Form 4)
On Aug 17, 2026, Xiao Jin converted 4,000 RSUs into common stock; 1,436 shares were withheld for taxes at $38.28.
2026-08-194Insider transaction report (Form 4)
CFO David E. Weigand converted 6,500 RSUs into common stock, with 3,308 shares withheld to cover taxes.
2026-08-194Insider transaction report (Form 4)
Cheung Kenneth converted 2,250 RSUs into common stock; 808 shares were withheld to cover taxes at $38.28.
2026-08-194Insider transaction report (Form 4)
Matthew Thauberger, Chief Revenue Officer, converted 2,250 RSUs into common stock, with 1,145 shares withheld for taxes at $38.28 per share.
2026-08-194Insider transaction report (Form 4)
CEO Charles Liang exercised 3,650 restricted stock units into 3,650 common shares, then 1,970 shares were withheld for taxes at $38.28. He holds 637,506 shares after.
2026-08-184Insider transaction report (Form 4)
Director Lin Judy L. received 7,882 restricted stock units as compensation on 2026-08-14.
2026-08-184Insider transaction report (Form 4)
Director Sherman Tuan received an award of 10,125 stock options at $39.84 per share on 2026-08-14.
2026-08-184Insider transaction report (Form 4)
Director Angel Scott received 7,882 restricted stock units in a compensation award, with no payment made.
2026-08-184Insider transaction report (Form 4)
Director Tally C. Liu received 5,062 stock options and 3,941 restricted stock units on 2026-08-14.
2026-08-184Insider transaction report (Form 4)
SMCI officer Thauberger Matthew received an award of 21,938 employee stock options at $39.84 and 9,872 restricted stock units (A-Award, not open-market purchases).
2026-08-184Insider transaction report (Form 4)
Director Robert L. Blair received a grant of 7,882 restricted stock units (RSUs) on August 14, 2026, with no cash consideration. He held 7,882 RSUs after the transaction.
2026-08-184Insider transaction report (Form 4)
Director Susan Mogensen received 7,882 restricted stock units as a compensation award, with no immediate purchase or sale.
2026-08-124Insider transaction report (Form 4)
A Super Micro officer exercised RSUs converting 3,248 restricted stock units into common stock, with 1,654 shares sold to cover taxes.
2026-08-124Insider transaction report (Form 4)
On 2026-08-10, director Sara Liu converted 3,134 RSUs into common stock, with 1,692 shares withheld for taxes at $31.46 each.
2026-08-124Insider transaction report (Form 4)
David E. Weigand, CFO of Super Micro Computer, converted 1,480 RSUs into 1,480 common shares; 754 shares were withheld for taxes at $31.46.
2026-08-124Insider transaction report (Form 4)
Chief Revenue Officer Thauberger Matthew converted 1,170 RSUs into common stock, and 596 shares were withheld for taxes at $31.46.
2026-08-124Insider transaction report (Form 4)
Super Micro officer Xiao Jin converted 2,994 restricted stock units into 2,994 common shares and 1,075 shares were withheld for taxes at $31.46, leaving 191,366 shares owned.
2026-08-124Insider transaction report (Form 4)
Charles Liang converted 3,134 RSUs into common stock and sold 1,692 shares to cover taxes on 2026-08-10.
2026-08-124Insider transaction report (Form 4)
SVP & CAO Kenneth Cheung converted 4,679 RSUs into 4,679 common shares, with 1,680 shares withheld for taxes at $31.46.
2026-08-073Initial insider ownership statement (Form 3)
A Form 3 filed by Super Micro Computer's CRO reports initial holdings: options to buy 19,650 shares, 7,500 RSUs, and no common shares.
2026-07-024Insider transaction report (Form 4)
Sara Liu converted 1,613 RSUs into 1,613 common shares and had 872 shares withheld to cover taxes at $27.65 per share.
2026-07-024Insider transaction report (Form 4)
On 2026-07-01, CEO Liang Charles converted 1,613 RSUs into 1,613 common shares (M-Exempt) and disposed 872 shares at $27.65 each for tax withholding (F-InKind).
2026-07-024Insider transaction report (Form 4)
Director Tally C. Liu converted 2,691 restricted stock units into 2,691 shares of common stock, now holding 288,738 shares.
2026-07-024Insider transaction report (Form 4)
Director Susan Mogensen converted 5,383 RSUs into 5,383 shares of common stock on 2026-06-30, leaving 8,663 shares owned afterward.
2026-07-024Insider transaction report (Form 4)
CFO exercised RSUs: 19,725 common shares acquired at $0, 10,038 sold to cover taxes at $27.65.
2026-07-024Insider transaction report (Form 4)
Director Angel Scott converted 5,383 restricted stock units into 5,383 shares of common stock, now holding 7,055 shares directly.
2026-07-024Insider transaction report (Form 4)
SMCI officer Malyala Vikranth converted 7,740 RSUs into 7,740 common shares, then had 3,939 shares withheld to cover taxes at $27.65 per share.
2026-07-024Insider transaction report (Form 4)
Director Robert L. Blair converted 5,383 restricted stock units into 5,383 common shares on 2026-06-30, leaving 0 RSUs and 6,963 common shares owned afterward.
2026-07-024Insider transaction report (Form 4)
Director Judy L. Lin converted 5,383 RSUs into 5,383 common shares on 2026-06-30, leaving 60,323 shares owned directly and no RSUs remaining from this grant.
2026-06-224Insider transaction report (Form 4)
On June 17, 2026, Vikranth Malyala converted 7,500 RSUs into common shares, sold 2,825 shares for tax withholding, and was awarded 15,000 new RSUs.
2026-06-224Insider transaction report (Form 4)
CFO David E. Weigand converted 5,000 RSUs into common stock, with 1,794 shares withheld for taxes, and received an award of 10,000 RSUs.
2026-06-124Insider transaction report (Form 4)
Officer Kenneth Cheung received 30,486 employee stock options (exercise price $58.63) and 13,718 restricted stock units, all granted on 2025-07-29.
Transcripts
Earnings callsFY2026 Q32026-05-05
Earnings calls
AI summary
positiveSuper Micro achieved substantial gross margin expansion from 6.4% to 10.1% non-GAAP in Q3, driven by improved product mix, lower tariffs, and reduced expedite charges, despite a 19% sequential revenue decline due to customer deployment delays. The company is evolving into a total data center solution provider with its DCBBS business gaining traction, contributing management software revenue of $46 million booked for the quarter. Management projects Q4 revenue of $11-12.5 billion and full-year FY2026 revenue of $38.9-40.4 billion.
Key takeaways
- Q3 non-GAAP gross margin improved 58% to 10.1% from 6.4% in Q2, driven by product mix, tariff reductions, and lower expedite/inventory charges
- DCBBS business showing rapid growth with data center software revenue accelerating from <$10M per quarter to $46M booked this quarter
- Management software suite (SuperCloud Composer) revenue jumped to $46 million booked from $34 million last quarter, with expectation of 20% net income contribution from DCBBS within 2 years
- Record backlog reported with AI GPU-related platforms contributing over 80% of revenue; enterprise channel revenue increased to 28% of total from 15% prior quarter
Financial highlights
- Q3 FY2026 revenue: $10.2 billion (up 123% YoY, down 19% QoQ)
- Non-GAAP gross margin: 10.1% (up from 6.4% in Q2)
- Non-GAAP diluted EPS: $0.84 (vs. guidance of at least $0.60)
- Enterprise channel revenue: $2.8 billion (28% of total), up 45% QoQ; OEM/large data center: $7.4 billion (72% of total)
Guidance
- Q4 FY2026 revenue guidance: $11.0-12.5 billion
- Q4 non-GAAP diluted EPS: $0.65-0.79; GAAP diluted EPS: $0.53-0.67
- Q4 gross margin guidance: 8.2%-8.4%
- Full fiscal year 2026 revenue guidance: $38.9-40.4 billion
Q&A themes
- Export control indictment: Company not a defendant; independent investigation ongoing with Munger, Tolles & Olson and AlixPartners; no earnings restatement expected; 10-Q filing planned; no involvement beyond named DOJ defendants based on current knowledge
- Customer retention and vendor relationships: Management reports customers feel solid continuing business; no change in NVIDIA allocation; partnership with vendors described as strong
- DCBBS growth drivers: Enterprise customers and NeoCloud segments showing strong growth; DCBBS expected to contribute >25% of total profit in coming years with focus on software/service bundling
- Supply chain and capacity: Global component shortages (memory, SSD, CPUs, GPUs) continuing; new U.S. DCBBS campus in Silicon Valley with 4 million sq ft Bay Area footprint; targeting 6,000+ rack production per month
Risks
- Indictment of former employees for alleged export control violations to China; independent investigation ongoing with potential for changes as investigation progresses
- Working capital requirements may necessitate capital market access if revenue doubles; cash position of $1.3 billion with net debt of $7.5 billion
- Ongoing global supply chain constraints for CPUs, GPUs, and memory components with uncertain duration; customer site readiness delays impacting near-term revenue recognition
FY2026 Q22026-02-03
Earnings calls
AI summary
positiveSuper Micro achieved record Q2 FY2026 revenue of TWD $12.68 billion ($12.7 billion), up 123% year-over-year, driven by accelerating AI infrastructure demand and Rack Scale Systems deployments. Gross margin compressed to 6.4% from 9.5% in Q1 due to customer mix shift toward large model builders, expedited transportation costs, component shortages, and tariffs. The company guided Q3 FY2026 revenue of at least $12.3 billion and raised full-year FY2026 guidance to at least $40 billion, citing strong order backlog and DCBBS (Data Center Building Block Solution) as a key growth driver with margin expansion potential.
Key takeaways
- Q2 revenue reached record $12.7 billion, up 153% QoQ, with AI GPU platforms representing over 90% of revenue
- One large data center customer represented 63% of Q2 revenue; enterprise channel segment was $2 billion (16% of revenue)
- DCBBS product line contributed 4% of profit in first half FY2026 and expected to reach double-digit profit contribution by end of calendar 2026
- Gross margin declined to 6.4% in Q2 due to customer mix, expedited shipping, component shortages and tariffs; management expects 30 basis points improvement in Q3
- Company expanded global manufacturing footprint with new facilities in Taiwan, Malaysia, Netherlands and Middle East to optimize cost structure
Financial highlights
- Q2 FY2026 revenue: $12.7 billion (123% YoY, 153% QoQ), with $1.5 billion in delayed Q1 shipments included
- Q2 non-GAAP gross margin: 6.4% (vs. 9.5% in Q1); non-GAAP operating margin: 4.5% (vs. 5.4% in Q1)
- Q2 GAAP EPS: $0.60 (vs. guidance $0.37-$0.45); non-GAAP diluted EPS: $0.69 (vs. guidance $0.46-$0.54)
- Q2 cash conversion cycle improved to 54 days from 123 days in Q1; inventory increased to $10.6 billion from $5.7 billion
Guidance
- Q3 FY2026: Revenue at least $12.3 billion; gross margin expected to improve 30 basis points vs. Q2
- Q3 FY2026 EPS guidance: GAAP at least $0.52, non-GAAP at least $0.60
- Full-year FY2026: Revenue guidance raised to at least $40 billion (from previous guidance)
- Q3 GAAP operating expenses expected ~$354 million; capital expenditures expected $70-90 million; effective tax rates 19.6% GAAP, 20.2% non-GAAP
Q&A themes
- Gross margin trajectory: Management expects sequential improvement driven by product maturation reducing expedite costs, DCBBS higher margins (>20%), customer diversification, and tariff improvement
- Operating expense leverage: Company expects continued OpEx leverage as percentage of revenue due to economies of scale and DCBBS software/services contributions
- Component shortages: Shortage driven by strong AI and large data center demand growth, not capacity reduction; shortages primarily in memory and storage
- DCBBS adoption: Product appeals across all customer sizes (large, medium, small); gaining preference for quicker time-to-deployment, reduced power/water consumption, and modular data center management
Risks
- Gross margin pressure from customer mix shift to large model builders with pricing leverage, expedited transportation costs, component shortages (memory, storage), and tariffs; near-term margin recovery dependent on multiple factors
- High customer concentration with one customer at 63% of Q2 revenue creates revenue volatility and dependency; customer push/pull scheduling difficult to predict
- Component shortages may constrain growth; $40 billion FY2026 guidance explicitly noted as conservative with potential upside if supply constraints improve
FY2026 Q12025-11-04
Earnings calls
AI summary
positiveSuper Micro delivered Q1 FY2026 revenue of $5 billion, below guidance due to customer configuration upgrades and logistics delays, but secured record $13 billion in new orders including GB300 Blackwell Ultra platforms. The company raised full-year FY2026 revenue guidance to at least $36 billion from prior guidance of at least $33 billion, expecting December quarter revenue of at least $10.5 billion as production ramps globally.
Key takeaways
- NVIDIA Blackwell Ultra with GB300 products have over $13 billion in back orders, including the largest deal in company's 32-year history
- Q2 FY2026 guidance: $10-11 billion revenue; gross margin expected down 300 basis points to ~6.5% due to new mega-scale GB300 rack ramp and customer engineering investments
- Company scaling to 6,000 racks per month capacity (including 3,000 DLC racks) across expanded facilities in Silicon Valley, Taiwan, Netherlands, Malaysia, and Middle East
- Data Center Building Block Solution (DCBBS) beginning customer shipments with expectations of higher long-term margins exceeding 20% and contributing material future growth
Financial highlights
- Q1 FY2026 revenue: $5.0 billion (down 15% YoY, down 13% QoQ vs. $6-7B guidance); Q1 non-GAAP gross margin: 9.5%
- Q1 GAAP diluted EPS: $0.26 vs. guidance $0.30-0.42; non-GAAP diluted EPS: $0.35 vs. guidance $0.40-0.52
- Q1 operating cash flow: negative $918 million; CapEx: $32 million; free cash flow: negative $950 million; cash position: $4.2 billion with net debt of $575 million
- Q1 inventory: $5.7 billion (up from $4.7B in Q4); cash conversion cycle: 123 days (vs. 96 days in Q4)
Guidance
- Q2 FY2026: Revenue $10-11 billion; GAAP EPS $0.37-0.45; non-GAAP EPS $0.46-0.54; gross margin expected down 300 basis points; OpEx ~$326 million GAAP; CapEx $60-80 million
- FY2026 full year: At least $36 billion revenue (raised from prior $33 billion); sequential revenue growth expected through fiscal year
- Company expects December quarter (Q2) to be the low watermark for gross margins in FY2026 with margin improvement expected in subsequent quarters
Q&A themes
- DCBBS expected to reach material impact on gross margins when ramp completes; customers already ordering key components with margins exceeding 20% target for data center infrastructure business
- Capacity and facility expansion underway globally; Malaysia facility ramping production; company positioning for up to $100+ billion annual capacity potential at full utilization with 3,000 liquid-cooled racks per month
- Gross margin pressure in near term from large design win ramping at scale and increased customer engineering support investments, but strategy focuses on DCBBS and enterprise channels for long-term margin recovery toward double-digit targets
- Revenue raised primarily driven by NVIDIA Blackwell Ultra availability and allocation increases; company expects to maintain bottom-line profit growth each quarter despite near-term gross margin pressure
Risks
- Gross margins compressed to 6.5% expected in Q2 FY2026 (down 300 bps) due to large mega-scale GB300 customer ramp and engineering investment costs; long-term margin recovery dependent on DCBBS adoption and customer diversification
- Working capital pressures from revenue doubling; company implemented $1.8 billion AR facility and stated ability to control revenue growth based on cash flow availability; potential future capital raises may be needed
- Large customer concentration risk with 2 customers representing 10%+ of Q1 revenue; significant revenue pushouts occurred in Q1 due to configuration upgrades and customer logistics, indicating timing uncertainty for large project deliveries
FY2025 Q42025-08-05
Earnings calls
AI summary
positiveSuper Micro achieved $22 billion in fiscal 2025 revenue representing 47% growth, with Q4 revenues of $5.8 billion exceeding guidance. The company introduced its data center building block solution (DCBBS) to accelerate customer deployment timelines and is expanding into enterprise, IoT, and telco markets to improve margins. For FY2026, the company guides to at least $33 billion in revenue with Q1 FY2026 expected to be $6-7 billion.
Key takeaways
- FY2025 revenue reached $22 billion, up 47% YoY; Q4 revenue of $5.8 billion exceeded guidance of $5.6-6.4 billion
- AI and GPU platforms represented over 70% of Q4 revenues across enterprise and cloud service provider markets
- Large-scale data center customers expanded from 3 in FY2024 to 4 in FY2025; company targets 6-8 in FY2026
- DCBBS solution enables customers to complete AI data center buildouts in 18 months versus 2-3 years, or transformation in 3-6 months versus 12-18 months
- FY2026 guidance of at least $33 billion revenue supported by expanding customer base, product innovation, and DCBBS adoption
Financial highlights
- FY2025 revenue $22 billion, up 47% from FY2024 revenue of $15 billion
- Q4 FY2025 revenue $5.8 billion, up 8% YoY and 25% QoQ
- FY2025 non-GAAP gross margin 11.2% versus 13.9% in FY2024; Q4 non-GAAP gross margin 9.6% versus 9.7% in Q3
- FY2025 non-GAAP diluted EPS $2.06 versus $2.12 in FY2024; Q4 non-GAAP EPS $0.41
Guidance
- Q1 FY2026 revenue guidance: $6-7 billion
- Q1 FY2026 non-GAAP diluted EPS guidance: $0.40-0.52; GAAP diluted EPS guidance: $0.30-0.42
- FY2026 revenue guidance: at least $33 billion
- Q1 FY2026 gross margins expected to be similar to Q4 FY2025 levels; CapEx expected $60-80 million
Q&A themes
- Chip availability and customer decision-making cycles: Some customers waiting for GB300 availability; NVIDIA support required before volume shipments; company expects improved availability versus prior quarters
- DCBBS revenue contribution: Will ramp gradually starting September quarter; company hopes it reaches 20-30% of revenue by next summer; currently early stages with a few key customers deploying rack-scale solutions
- Margin expansion strategy: Long-term gross margin target of 15-17% achievable through DCBBS, enterprise, IoT, and telco segments which carry higher margins; DCBBS provides less competitive pressure than commodity products
- Large customer concentration: Four customers representing 11%, 11%, 13%, and 21% of FY2025 revenue; expected to expand to 6-8 large-scale customers in FY2026, primarily cloud service providers
Risks
- Gross margins compressed to 11.2% in FY2025 from 13.9% in FY2024 due to product and customer mix, including tariff impact; company expects to mitigate tariffs through global manufacturing footprint but environment remains dynamic
- DCBBS solution is early stage with limited revenue contribution; success dependent on customer adoption and scaling of components currently in production or preparation phases
- Customer concentration risk: Four customers represented 11%, 11%, 13%, and 21% of FY2025 revenue; any significant customer loss or reduction in orders could materially impact results
FY2025 Q32025-05-06
Earnings calls
FY2025 Q22025-02-11
Earnings calls
Company news
Reuters, WSJ, Bloomberg and FT first, as far as our news provider delivers them; other publishers behind the second filter. Headlines link to the publisher.- Super Micro Computer Revenue Surges on AI Infrastructure Demand
- Super Micro forecasts quarterly revenue above estimates on strong AI server demand
- Super Micro climbs after upbeat forecast shows robust AI demand
- Super Micro Computer Shares Up as Preliminary Revenue Tops Guidance
- Super Micro expects first-quarter revenue above estimates
- Super Micro appoints Mark Long as chief financial officer
- Super Micro contractor pleads guilty in scheme to divert AI servers with Nvidia chips to China
- Taiwan indicts 9 over alleged illegal export of AI servers to China
- Super Micro Clears Senior Management in Alleged Smuggling Scheme
Company data
Company intelligence
Updated: Nov 15, 2026, 04:11 AM UTC
Company data
Company intelligence
Company profile
- Sector
- Technology
- Industry
- Computer Hardware
- Chief executive
- Charles Liang
- Employees
- 7,000
- IPO date
- Mar 28, 2007
- Country
- US
- Exchange
- NASDAQ
Altman Z-scorei3.7
Piotroski scorei3/9
Overall ratingiB+
Owner earningsi$882.93M$1.27 per share
ESG risk ratingiB+Industry rank: 5/14
Rating factors
- Return on equityi
- 4/5
- Return on assetsi
- 4/5
- Debt to equityi
- 2/5
- Price to earningsi
- 3/5
- Price to booki
- 4/5
Company press releases
Kuehn Law Encourages Investors of Super Micro Computer, Inc. to Contact Law FirmPRNewsWireSuper Micro Computer Investigation Initiated: Kahn Swick & Foti, LLC Investigates the Officers and Directors of Super Micro Computer, Inc. - SMCIPRNewsWireSuper Micro Computer Investigation Initiated: Kahn Swick & Foti, LLC Investigates the Officers and Directors of Super Micro Computer, Inc. - SMCIBusiness WireSupermicro Announces Completion of Independent Investigation and Continued Enhancement of Export Compliance ProgramBusiness WireSupermicro Announces Participation in Upcoming Investor EventsBusiness WireSupermicro Announces Fourth Quarter and Full Fiscal Year 2026 Financial ResultsBusiness Wire
Congressional disclosures
Senate
John BoozmanSale · $1,001 - $15,000Disclosed: Jan 13, 2026John BoozmanSale (Full) · $1,001 - $15,000Disclosed: Jan 13, 2026John BoozmanPurchase · $1,001 - $15,000Disclosed: Jan 13, 2026John BoozmanPurchase · $1,001 - $15,000Disclosed: Jan 13, 2026Ashley Brooke MoodySale · $1,001 - $15,000Disclosed: Apr 20, 2025
House
Ro KhannaPurchase · $1,001 - $15,000Disclosed: Nov 9, 2026Ro KhannaSale · $1,001 - $15,000Disclosed: Feb 10, 2026Gilbert Ray CisnerosSale (Partial) · $1,001 - $15,000Disclosed: Dec 15, 2025Gilbert CisnerosSale (Partial) · $1,001 - $15,000Disclosed: Dec 15, 2025Gilbert Ray CisnerosSale (Partial) · $1,001 - $15,000Disclosed: Dec 15, 2025
Market cap history
$17.68B-26.2%Aug 2026 – Nov 2026
Latest: $17.68B · 2026-11-13High: $25.99B · 2026-10-05Low: $17.68B · 2026-11-13
Largest fund holders
| Fund | Weight | Shares held |
|---|---|---|
| VTI | 0.03% | 17.5M |
| VOO | 0.03% | 15M |
| VO | 0.2% | 11.9M |
| VUG | 0.08% | 8M |
| IVV | 0.03% | 7.1M |
| 1557.T | 0.03% | 6.9M |
| SPY | 0.03% | 6.7M |
| RSP | 0.25% | 6.5M |
| VGT | 0.12% | 5.6M |
| FXAIX | 0.03% | 5.6M |
| XLK | 0.14% | 4.5M |
| ARTY | 4.08% | 4.4M |
Analyst track record
How the analysts covering SMCI have done: ratings, price-target accuracy and the measured reaction after their calls.
| 12 months | 3 years | |
|---|---|---|
| Ratings | 93 | 277 |
| Analysts | 22 | 31 |
| Buy / hold / sell | 19 / 60 / 14 | 98 / 144 / 35 |
| Upgrades / downgrades / initiations | 2 / 3 / 1 | 6 / 12 / 19 |
| Price targets hit / missed | 8 / 70 (10%) | 20 / 223 (8%) |
| Avg. return after a rating (TipRanks) | -25.2% | -37.5% |
| Best / worst call | +79.9% / -58.5% | +79.9% / -82.0% |
After buy calls on this stock: median 21-day move +3.7% vs S&P 500 +0.9% (n = 104)
Most accurate on this stock
Share of an analyst's price targets on this stock that the price reached within 12 months (our measurement over the last 3 years, at least 8 targets). It describes past calls, not the odds of the current one.
- Nehal ChokshiNorthland Securities35% hit rate on this stock · 20 targets measuredHoldtarget $43.00Aug 13, 2026
Latest ratings
| Date | Analyst | Call | Target | |
|---|---|---|---|---|
| Nov 4, 2026 | Joseph CardosoJ.P. MorganNov 4, 2026 | HoldMaintained | –↗ | article ↗ |
| Nov 4, 2026 | Simon LeopoldRaymond JamesNov 4, 2026 | BuyMaintained | $65.00↗ | article ↗ |
| Nov 4, 2026 | Unknown AnalystWedbushNov 4, 2026 | HoldMaintained | $40.00↗ | article ↗ |
| Nov 4, 2026 | Ruplu BhattacharyaBank of America SecuritiesNov 4, 2026 | SellReiterated | $39.00↗ | article ↗ |
| Nov 4, 2026 | Brandon NispelKeyBancNov 4, 2026 | HoldMaintained | –↗ | article ↗ |
Share of analysts per call each month (latest call per analyst within 180 days). Targets and closes in USD.
TipRanks data · computed Nov 13, 2026 · 93 ratings
Frequently asked questions
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