Supermicro Q1 Fiscal 2027 Preliminary Revenue: How Far Above Its Own Forecast
Supermicro estimates sales of $18.5 billion to $19.5 billion for the first quarter of fiscal 2027, about $4 billion above the middle of its own forecast. That preliminary gap is the widest in six quarters of the company’s forecasts.
The short answer. Supermicro builds servers for AI data centers. After the close on October 20, 2026, it said its September quarter ran well ahead of what it had told investors to expect in August. These are early estimates its auditors have not reviewed. The company credits demand for its AI platforms, and the final results come with its call on November 3.
Supermicro first quarter fiscal 2027, preliminary estimates against its forecast
On this page
- Supermicro Q1 fiscal 2027 revenue and gross margin estimates
- How often Supermicro sales beat its own forecast
- Why Supermicro sales came in above its forecast
- Supermicro gross margin by quarter
- Supermicro fiscal 2027 revenue forecast and the first quarter
- How close Supermicro preliminary results came to final results
- Supermicro earnings date: the November 3 call
- How we counted
- Frequently asked questions
Supermicro Q1 fiscal 2027 revenue and gross margin estimates
Supermicro expects to report far more in sales than it forecast in August. It also expects to keep a larger share of each dollar after paying for the products it sold. Both figures are estimates that can still change.
The company gave the two ranges in a business update released at 4:30 p.m. ET on October 20, 2026. It put revenue for the quarter ended September 30 at $18.5 billion to $19.5 billion, against the $14.5 billion to $15.5 billion it had forecast on August 11.
Even the low end of the new range sits $3 billion above the top of the old one. At the middle, the estimate is $4 billion, or 27%, higher than the middle of the forecast (our calculation from the two ranges).
Gross margin, the share of sales left after the cost of the products sold, is estimated at 12.0% to 12.5%. The company had forecast 10.4% to 10.8%.
The update is short. It gives no earnings per share, no profit or cash figure and no order count, and it does not mention the full-year forecast. Supermicro calls the numbers unaudited and says actual results “may differ materially from these preliminary unaudited financial results.”
SMCI shares closed the regular session at $32.47. At 4:42 p.m. ET they traded at $35.81 after hours, about 10% higher, according to StockTitan’s price data on the SMCI overview page.
| Measure, Q1 FY27 (quarter ended Sep 30, 2026) | Preliminary estimate | Forecast | Gap, middle to middle |
|---|---|---|---|
| Revenue | $18.5B to $19.5B | $14.5B to $15.5B | +$4.0B (+26.7%) |
| Gross margin | 12.0% to 12.5% | 10.4% to 10.8% | +1.65 percentage points |
| Low end of estimate against top of forecast | $18.5B | $15.5B | +$3.0B (+19.4%) |
Source: Supermicro preliminary business update, October 20, 2026; revenue forecast from the Q4 fiscal 2026 results release, August 11, 2026; the margin forecast as the October 20 update states it. Gaps are our calculation.
How often Supermicro sales beat its own forecast
A gap this wide is new in Supermicro’s recent record. Of the five quarters before this one, only the December 2025 quarter came in above the middle of its forecast, and by less than this estimate.
Show the data
| Category | Sales (Q1 FY27: estimate midpoint) | Middle of forecast (Q3 FY26: floor) | Note |
|---|---|---|---|
| Q4 FY25 | $5.76B | $6.00B | |
| Q1 FY26 | $5.02B | $6.50B | |
| Q2 FY26 | $12.68B | $10.50B | |
| Q3 FY26 | $10.24B | $12.30B | The forecast was at least $12.3B, so the floor is shown |
| Q4 FY26 | $11.12B | $11.75B | |
| Q1 FY27 | $19.00B | $15.00B | Preliminary, unaudited estimate of $18.5B to $19.5B |
We lined up each quarterly forecast Supermicro gave in a results release since May 2025 with the sales it later reported. In the June 2025 quarter, sales landed 4% below the middle of the forecast, and in the September 2025 quarter they landed 23% below it.
The December 2025 quarter went the other way, at 21% above the middle. In October 2025, the company had said that “design win upgrades pushed some expected Q1’26 revenue to Q2’26,” meaning orders it expected to ship in September moved into December (update of October 23, 2025).
For the March 2026 quarter the forecast was a floor of “at least $12.3 billion,” and reported sales were $10.2 billion. The June 2026 quarter landed 5% below the middle of its range.
Against that record the new estimate stands apart. Its midpoint sits 27% above the middle of the forecast. Its low end also clears the top of the range, which only the December 2025 quarter had done in this series.
| Quarter (ended) | Forecast, and when it was given | Middle | Sales reported | Against the middle |
|---|---|---|---|---|
| Q4 FY25 (Jun 30, 2025) | $5.6B to $6.4B (May 6, 2025) | $6.0B | $5.76B | -4.1% |
| Q1 FY26 (Sep 30, 2025) | $6.0B to $7.0B (Aug 5, 2025) | $6.5B | $5.02B | -22.8% |
| Q2 FY26 (Dec 31, 2025) | $10.0B to $11.0B (Nov 4, 2025) | $10.5B | $12.68B | +20.8% |
| Q3 FY26 (Mar 31, 2026) | At least $12.3B (Feb 3, 2026) | No middle; floor $12.3B | $10.24B | -16.7% against the floor |
| Q4 FY26 (Jun 30, 2026) | $11.0B to $12.5B (May 5, 2026) | $11.75B | $11.12B | -5.4% |
| Q1 FY27 (Sep 30, 2026), preliminary | $14.5B to $15.5B (Aug 11, 2026) | $15.0B | $18.5B to $19.5B estimated | +26.7% at the $19.0B midpoint |
Source: Supermicro results releases of May 6, 2025, August 5, 2025, November 4, 2025, February 3, 2026, May 5, 2026 and August 11, 2026, and the October 20, 2026 update. Reported sales to two decimals from the company’s filed quarterly figures on the SMCI financials page.
Why Supermicro sales came in above its forecast
Supermicro gives one reason for the higher sales, more demand for its AI platforms, and one reason for the higher margin, the mix of customers and products. It names no customer, product or order behind either.
In the company’s words, revenue beat the forecast “primarily due to increased demand for AI platforms,” and gross margin beat it “primarily due to customer and product mix” (October 20 update). Those two phrases are the whole explanation for now.
Earlier releases give some background. In July, Supermicro said it received “total new orders in excess of $60 billion” in the June quarter and that “these new orders are expected to be delivered over future quarters” (update of July 21, 2026). In August, chief executive Charles Liang said the company had “booked record backlog entering fiscal 2027” (August 11 results).
The October update does not say how much of the September quarter came from those orders. It also does not say whether any shipments moved between quarters, as some did a year earlier, so those questions wait for the November 3 results.
For context only, since the measures and quarters differ, other companies selling into AI data centers have reported large figures of their own. Dell said it booked a record $60.9 billion of AI server orders in its quarter ended in July. It finished that quarter with a record $95 billion AI server backlog (Dell results, September 1, 2026). NVIDIA reported $89.0 billion of data center revenue for its quarter ended July 26, 2026 (NVIDIA results, August 26, 2026).
Supermicro gross margin by quarter
Supermicro keeps about $12 of every $100 of estimated sales after paying for the products it sold. That share is above its own forecast and above most of its recent quarters.
Show the data
| Part | Value | Share |
|---|---|---|
| Left after product costs (gross profit) | $12.25 | 12.3% |
| Cost of the products sold | $87.75 | 87.8% |
The estimate of 12.0% to 12.5% compares with the 10.4% to 10.8% the company had forecast for the quarter.
Over the eight quarters from September 2024 to June 2026, Supermicro’s gross margin ranged from 6.3% to 17.5%, and the middle of the new estimate sits above six of them.
Show the data
| Item | Value |
|---|---|
| Q1 FY25 | 13.06% |
| Q2 FY25 | 11.80% |
| Q3 FY25 | 9.57% |
| Q4 FY25 | 9.45% |
| Q1 FY26 | 9.31% |
| Q2 FY26 | 6.30% |
| Q3 FY26 | 9.95% |
| Q4 FY26 | 17.47% |
| Q1 FY27 estimate | 12.25% |
The June 2026 quarter, at 17.5%, was the high point of that run. In August the company said it was improving profitability through “a richer enterprise customer mix” and wider use of its Data Center Building Block Solutions line (August 11 results).
In dollars, a smaller share of much larger sales still implies more gross profit than any of those eight quarters. Our calculation from the two ranges gives about $2.2 billion to $2.4 billion, against $1.9 billion reported for the June 2026 quarter.
At the middle of both ranges the estimate implies about $2.33 billion of gross profit. The middle of the company’s own sales and margin forecasts implied about $1.59 billion, so the estimate is roughly 46% higher (our calculation).
| Quarter | Net sales | Gross profit | Gross margin |
|---|---|---|---|
| Q1 FY25 (Sep 2024) | $5,937M | $776M | 13.06% |
| Q2 FY25 (Dec 2024) | $5,678M | $670M | 11.80% |
| Q3 FY25 (Mar 2025) | $4,600M | $440M | 9.57% |
| Q4 FY25 (Jun 2025) | $5,757M | $544M | 9.45% |
| Q1 FY26 (Sep 2025) | $5,018M | $467M | 9.31% |
| Q2 FY26 (Dec 2025) | $12,682M | $799M | 6.30% |
| Q3 FY26 (Mar 2026) | $10,243M | $1,019M | 9.95% |
| Q4 FY26 (Jun 2026) | $11,120M | $1,943M | 17.47% |
| Q1 FY27 (Sep 2026), preliminary | $18,500M to $19,500M | about $2,220M to $2,440M (our calculation) | 12.0% to 12.5% |
Source: the company’s filed quarterly figures on the SMCI financials page; Q1 FY27 ranges from the October 20, 2026 update. The eight reported quarters are GAAP figures; the October 20 update does not say whether its margin estimate is GAAP or non-GAAP.
Supermicro fiscal 2027 revenue forecast and the first quarter
In August, Supermicro forecast $65 billion to $72 billion of sales for the year to June 2027. The first-quarter estimate alone is more than a quarter of that. The October update does not address the yearly forecast.
At its $19.0 billion midpoint, the first-quarter estimate equals 26% of the top of the yearly forecast and 29% of the bottom (August 11 forecast).
The same midpoint is about half of the $39.1 billion Supermicro sold in the whole of fiscal 2026. That is plain arithmetic on the company’s own numbers, and it says nothing about the three quarters still to come, for which the October update gives no new figure.
How close Supermicro preliminary results came to final results
Supermicro has put out early estimates like this one before. In its three earlier updates since April 2025, the final sales figure was broadly in line with what each update said. One gave a range, one a rounded figure and one only a direction.
For the March 2025 quarter, the April 2025 update estimated sales of $4.5 billion to $4.6 billion, and the company later reported $4.60 billion.
For the September 2025 quarter, the October 2025 update said $5 billion. The final figure was $5.0 billion.
The July 2026 update, for the June quarter, is the one closest to today’s news, because it also put the gross margin well above the forecast. It estimated 15% to 17%, and the reported figure came in at 17.5%, about half a point above the top of that range.
Three updates make a small sample, and the company itself says this estimate is subject to revision while it closes its books for the quarter.
| Update | Quarter | Preliminary figure | Reported figure |
|---|---|---|---|
| April 29, 2025 | Q3 FY25 (Mar 2025) | Sales $4.5B to $4.6B | $4.60B |
| October 23, 2025 | Q1 FY26 (Sep 2025) | Sales about $5B | $5.0B |
| July 21, 2026 | Q4 FY26 (Jun 2026) | Sales near the low end of $11.0B to $12.5B; gross margin 15% to 17% | $11.1B; 17.5% |
| October 20, 2026 | Q1 FY27 (Sep 2026) | Sales $18.5B to $19.5B; gross margin 12.0% to 12.5% | Due November 3, 2026 |
Source: Supermicro updates of April 29, 2025, October 23, 2025, July 21, 2026 and October 20, 2026; reported figures from the results releases of May 6, 2025, November 4, 2025 and August 11, 2026.
Supermicro earnings date: the November 3 call
Supermicro will review its final first-quarter results on a call on Tuesday, November 3, 2026, at 5:00 p.m. ET.
The webcast will be on the company’s investor relations site, ir.supermicro.com, with a replay kept for a year (October 20 update). Each results release in the table above also carried earnings per share and a forecast for the next quarter, which the October update left out.
How we counted
The middle of each range is the average of its low and high ends; the gap is the reported or estimated figure divided by that middle, minus one. The forecast for each quarter is the one issued with the previous quarter’s results, starting with the forecast of May 6, 2025 for the June 2025 quarter. The March 2026 forecast was a floor of at least $12.3 billion with no top, so that quarter is compared with the floor and has no middle. Reported sales and gross profit come from the company’s filed quarterly figures in StockTitan’s financials data, read on October 20, 2026. They match the rounded figures in each release.
The implied gross profit for the September 2026 quarter multiplies the low ends of the two estimate ranges ($18.5 billion at 12.0%) and then the high ends ($19.5 billion at 12.5%). It is an estimate built on estimates. The implied gross profit at the middle multiplies $19.0 billion by 12.25%, and the forecast equivalent multiplies $15.0 billion by 10.6%. The share of the yearly forecast divides the $19.0 billion midpoint by $72.0 billion and by $65.0 billion. The after-hours price is the last StockTitan price at 4:42 p.m. ET on October 20, 2026, against the regular-session close.
Frequently asked questions
When is Supermicro’s earnings date?
Supermicro will hold its call on the quarter ended September 30, 2026 on Tuesday, November 3, 2026, at 5:00 p.m. ET. The webcast will be on ir.supermicro.com.
Why is Supermicro’s Q1 sales estimate above its forecast?
Supermicro says its estimated first-quarter sales of $18.5 billion to $19.5 billion beat its forecast “primarily due to increased demand for AI platforms.” It credits the higher gross margin estimate to “customer and product mix.” It names no customer, product or order.
Are Supermicro’s preliminary results final?
No. The company calls them unaudited estimates based on management’s figures, says they may change as it closes its books, and says its auditors have not reviewed them. The final figures are due with the November 3 results.
What is Supermicro’s revenue forecast for fiscal 2027?
On August 11, 2026, Supermicro forecast net sales of $65.0 billion to $72.0 billion for the fiscal year ending June 30, 2027. The October 20 update does not address that forecast.
Where can I find SMCI news and financials on StockTitan?
The SMCI overview page on StockTitan collects Supermicro’s press releases and price data, and the SMCI financials page holds its quarterly results. Other companies’ sizes can be compared on the market cap rankings. For the chips side of the AI build, see our article on TSMC’s third-quarter results. For the companies renting out AI computing power, see our look at CoreWeave and Nebius debt.
Sources
- Supermicro preliminary business update, Q1 fiscal 2027 (October 20, 2026)
- Supermicro Q4 and fiscal 2026 results (August 11, 2026)
- Supermicro preliminary business update, Q4 fiscal 2026 (July 21, 2026)
- Supermicro Q3 fiscal 2026 results (May 5, 2026)
- Supermicro Q2 fiscal 2026 results (February 3, 2026)
- Supermicro Q1 fiscal 2026 results (November 4, 2025)
- Supermicro business update, Q1 fiscal 2026 (October 23, 2025)
- Supermicro Q4 and fiscal 2025 results (August 5, 2025)
- Supermicro Q3 fiscal 2025 results (May 6, 2025)
- Supermicro business update and preliminary results, Q3 fiscal 2025 (April 29, 2025)
- Dell Technologies Q2 fiscal 2027 results (September 1, 2026)
- NVIDIA Q2 fiscal 2027 results (August 26, 2026)
- SMCI overview on StockTitan
- SMCI financials on StockTitan
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