FY26 · Ended Jun 30, 2026 · View SEC filing
Profit more than doubled while cash flowed out
Inventory purchases and customer receivables absorbed more than the year's profit, so borrowing and new equity funded growth.
For investorsWhat has to happen for this year's profit to become cash?
For foundersHow a thin-margin hardware maker turns speed into scale
Overhead grew 23.8% while gross profit grew 74.0%, so a narrower gross margin still produced a wider operating margin.
The fourth quarter's gross margin reached 17.5% against 10.8% for the year, so the annual average hides a wide swing.
About half the staff work in research and development, yet it costs 1.97% of net sales, tied to each new chip cycle.
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Business Lens describes Supermicro from its own filings with the SEC. It is not a view on its shares, a target, or advice to buy, sell or hold anything; figures are as filed and may be restated by the company later. The filing is linked above.
