Super Micro Computer, Inc. stock research
FY2026 Q3
Super Micro Computer (SMCI) Gross Margin & Quarterly History
Explore Super Micro Computer, Inc. (SMCI) gross margin from 2023 through the latest reported quarter, using SEC-sourced revenue, gross profit, and direct costs.
Gross margin takeaway
Quarter ended Mar 31, 2026 · FY2026 Q3
Revenue decreased from the prior quarter while gross profit increased, resulting in a higher gross margin. Compared to the same quarter last year, revenue and gross profit both rose, and gross margin was slightly improved.
- Gross profit increased despite lower revenue, indicating that cost of revenue declined more than proportionally. This improvement in gross margin was the strongest observable driver.
- Compared to the prior quarter, gross margin improved from a lower level. Versus the same quarter one year earlier, gross margin was slightly higher.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
9.9%
Gross profit
$1.0B
Revenue
$10.2B
Cost of revenue
$9.2B
Quarter-over-quarter change
+3.6 pts
Year-over-year change
+0.4 pts
Quarterly gross margin trend
A four-quarter view of the revenue and direct-cost bridge behind gross margin.
| Period | Revenue | Gross profit | Cost of revenue | Gross margin |
|---|---|---|---|---|
| Jun 30, 2025 | $5.8B | $544.1M | $5.2B | 9.5% |
| Sep 30, 2025 | $5.0B | $467.4M | $4.6B | 9.3% |
| Dec 31, 2025 | $12.7B | $798.6M | $11.9B | 6.3% |
| Mar 31, 2026 | $10.2B | $1.0B | $9.2B | 9.9% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Dec 31, 2025
+3.6 pts
Year-over-year change
Mar 31, 2025
+0.4 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
Gross profit increased despite lower revenue, indicating that cost of revenue declined more than proportionally. This improvement in gross margin was the strongest observable driver.
Compared to the prior quarter, gross margin improved from a lower level. Versus the same quarter one year earlier, gross margin was slightly higher.
Monitor the trend in cost of revenue relative to revenue, as its decline drove the margin improvement.
Peer context
Latest available gross margins for related public companies.
| Company | Gross margin |
|---|---|
| Super Micro Computer, Inc. (SMCI) | 9.9% |