Super Micro Computer, Inc.

Record growth + strong profitability (Q4 & FY26): - FY26 revenue: $39.1B, +78% YoY (from ~$22B). - FY26 non-GAAP diluted EPS: $3.63, +76% YoY (from $2.06). - Q4 revenue: $11.1B, +93% YoY and +9% QoQ, near the low end of guidance due to customer readiness delays (power/cooling/networking). Management stressed this is a timing/shift into later quarters, not demand loss. - Q4 non-GAAP gross margin: 17.6% (vs guidance 8.2%–8.4%), up from 10.1% in Q3; Q4 non-GAAP diluted EPS: $1.70. - Margin driver emphasis: better customer/product mix (large portion of the improvement) + lower tariff costs and inventory reserves benefits.

AI mix is high and expected to remain AI-dominant, but mix shift is still a key lever: - Q4 AI contribution: ~60% of revenue (down from >80% in Q3) due to project timing; management expects >80% of future revenue to be AI-related. - Charles’ framing: AI includes (1) GPU-heavy “pure AI” and (2) CPU-based AI / agentic / edge AI, plus the remaining ~20% being more traditional server/storage/IoT. - Management explicitly targets mix improvement by pushing enterprise CPU/server/storage and DCBBS (data center building block solutions) to support healthier gross margins even as GPU-heavy volumes can pressure margins.

DCBBS strategy + profitability focus (opportunity): - Company positions itself as transforming from a server maker into a total AI/IT data center “one-stop shop” built from integrated components: GPU+CPU servers, enterprise storage, direct liquid cooling (DLC), CDU/chilled door/water tower, high-speed switches/networking, management software, and lifecycle services. - Management claims this improves time-to-deployment (TTD) and time-to-online (TTO) and reduces customer TCO. - Also highlights a “proactive service model” with data-center management software and field-team response intended to reduce downtime and strengthen customer trust/attach.