Super Micro Computer, Inc. Q1 2027 Earnings Recap

Super Micro shares fell 5.7% despite Q1 revenue of $19.9 billion and wider gross margins; the likely pressure point is the outlook, which calls for a sharp sequential revenue decline. Management forecast Q2 revenue of $10 billion to $11 billion, well below Q1.

Key Takeaways

• Q1 revenue was $19.9 billion, above the company’s original $15 billion outlook.
• Non-GAAP gross margin rose 330 basis points year over year to 12.8%; management attributed the expansion to customer mix, product mix and higher DCBBS contribution.
• Q2 revenue guidance was $10 billion to $11 billion, implying a substantial step down from Q1.
• Management said it is targeting capacity to produce more than 8,000 racks per month, including over 4,000 DLC racks, by December.