Super Micro Sees Record Backlog
Super Micro reports over $60 billion in new Q4 orders, supporting a fiscal 2027 revenue target of $65-$72 billion
SMCI Super Micro said more than $60 billion in new Q4 orders drove record backlog, supporting a fiscal 2027 revenue target of $65 billion to $72 billion, versus $39.1 billion in fiscal 2026.
The Details: • Customer demand: The company had nine customers generating more than $1 billion each in fiscal 2026, up from four in fiscal 2025. • Enterprise demand: Q4 demand increased from enterprise and channel customers upgrading compute, storage, and networking infrastructure. • Margins: Q4 non-GAAP gross margin was 17.6%, up from 10.1% in Q3 and above prior guidance of 8.2% to 8.4%. • AI mix: Management expects more than 80% of revenue to be AI-related, based on the current backlog. • Production: Manufacturing capacity is expected to exceed 6,000 racks per month, including more than 3,000 direct-liquid-cooled rack