Server maker SMCI raises gross margin guidance sharply despite revenue falling short of $11.67 billion consensus for Q4 2026.
Super Micro Computer Inc. (NASDAQ:SMCI) reported over $60 billion in new orders for fiscal Q4 2026, setting a record backlog. The company guided gross margins to 15-17%, nearly double its prior 8.2-8.4% forecast, citing improved customer and product mix.
Revenue is expected near the low end of its $11-12.5 billion range, below the $11.67 billion analyst estimate. Shares surged as much as 20% on the margin and order strength, offsetting the top-line miss.
The order surge also signals robust downstream AI infrastructure demand, particularly for NVIDIA-based high-performance servers, reinforcing hyperscaler capital expenditure trends.