SMCI Q1 2026 Earnings — Income Statement Breakdown
For its Q1 2026 period (ending 2025-09-30), SMCI reported revenue of $5.0B, gross profit of $467M (9.3% gross margin), operating income of $182M, and net income of $168M (3.4% net margin). The flow of revenue into costs and profit is visualized below.
What changed
SMCI was profitable; revenue fell 12.8% quarter over quarter.
| Comparison | Revenue | Net income | Net margin |
|---|---|---|---|
| Year over year | Not available | Not available | Not available |
| Quarter over quarter | −12.8% | −13.8% | −0.0 pp |
Consensus estimate data is not available for this report.
SMCI Q1 2026 Income Statement
| Line item | Amount (USD) | % of revenue |
|---|---|---|
| Revenue | $5.0B | 100% |
| Cost of Revenue | −$4.6B | 90.7% |
| Gross Profit | $467M | 9.3% |
| Research & Development | −$173M | 3.5% |
| Selling, General & Administrative | −$112M | 2.2% |
| Operating Income | $182M | 3.6% |
| Interest Expense | −$25M | 0.5% |
| Other Income, net | $51M | 1.0% |
| Income Tax Expense | −$40M | 0.8% |
| Net Income | $168M | 3.4% |
Source: original SEC filing (filed 2025-11-04). Accession 0001375365-25-000029. Data normalized by EarningsFyi.