Super Micro Computer Inc

supermicro.com

What Do They Do?

Builds and sells server, storage and rack-scale data-center systems for enterprise data centers, cloud providers and equipment makers.

How Do They Make Money?

Customers pay for servers, storage systems, components and accessories when products ship or are delivered. Extended warranties and on-site support are paid over their contract terms; rack installation is paid as the work is performed.

revenue

Segment	Share	Revenue	How money arrives
Service and Software	1.4%
Service Recurring	1.1%		Recurring

Who Are Their Customers?

Large cloud and enterprise customers, along with equipment makers, buy directly; distributors, resellers, system integrators and equipment makers also sell to end users through indirect channels.

Customers above 10% of revenue, FY2026

of revenue from one customer

FY2024: 20% from one customer

Do Revenues Turn Into Profits?

Yes. It kept 6 cents of every revenue dollar as net income in FY2026, but spent more cash than it brought in: free cash flow was −$7B.

Operating income, FY2026

7% of revenue

▲ +121% vs FY2025 ($1.3B, 6%)

Net income, FY2026

6% of revenue

▲ +113% vs FY2025 ($1B, 5%)

Free cash flow, FY2026

−18% of revenue

▼ Now a loss vs FY2025 ($1.5B, 7%)

How Are They Changing?

Growing. Revenue grew 7.5x in 4 years, from $5.2B in FY2022 to $39.1B in FY2026, about 66% a year.

Broader infrastructure offering The latest report describes DCBBS as a modular data-center package integrating racks, cooling, power, networking, software and services alongside server and storage systems, extending the older report’s focus on compute platforms and those systems.

Revenue over time

Service and Software Service

$50B$25B$0

FY2024 FY2025 FY2026

Who Do They Compete With?

Competes with Cisco, Dell, Hewlett-Packard Enterprise, Lenovo, Foxconn, Quanta Computer, and Wiwynn

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