Q: What is SUPER MICRO COMPUTER INC(SMCI) 2026Q2 Earnings Summary?
Bullish Points:
1. Net sales for the three months ended December 31, 2025, increased by 123.4% to $12,682.5 million compared to $5,678.0 million in the same period in 2024, primarily due to fulfillment and shipment of orders to support customers' datacenter deployment.
2. Gross profit for the three months ended December 31, 2025, increased by 19.2% to $798.6 million compared to $670.1 million in the same period in 2024.
3. Net income for the three months ended December 31, 2025, increased to $400.6 million compared to $320.6 million in the same period in 2024.
4. Accounts receivable increased to $11,004.1 million as of December 31, 2025, from $2,203.9 million as of June 30, 2025.
5. Deferred revenue increased to $1,302.8 million as of December 31, 2025, from $731.4 million as of June 30, 2025.
Bearish Points:
1. Gross margin decreased to 6.3% for the three months ended December 31, 2025, from 11.8% in the same period in 2024, primarily due to competitive pricing strategy and changes in product and customer mix.
2. Operating expenses for the three months ended December 31, 2025, increased by 7.6% to $324.3 million compared to $301.4 million in the same period in 2024, primarily due to higher headcount and increases in salary and stock-based compensation.
3. Income tax provision for the three months ended December 31, 2025, increased by 73.9% to $99.1 million compared to $57.0 million in the same period in 2024, primarily due to an increase in worldwide income before income tax provision.
4. Cash and cash equivalents were $4.1 billion as of December 31, 2025, compared to $5.2 billion as of June 30, 2025.
5. Inventories increased to $10,595.4 million as of December 31, 2025, from $4,680.4 million as of June 30, 2025.
6. Accounts payable increased to $13,753.2 million as of December 31, 2025, from $1,282.0 million as of June 30, 2025.
7. Net cash used in operating activities was $941.4 million for the six months ended December 31, 2025, compared to net cash provided by operating activities of $169.1 million in the same period in 2024, primarily due to an increase in inventory purchases and accounts receivables.
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