The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.
Super Micro Computer Inc., consolidated income statement (quarterly data)
US$ in thousands
3 months ended:
Mar 31, 2026
Dec 31, 2025
Sep 30, 2025
Jun 30, 2025
Mar 31, 2025
Dec 31, 2024
Sep 30, 2024
Jun 30, 2024
Mar 31, 2024
Dec 31, 2023
Sep 30, 2023
Jun 30, 2023
Mar 31, 2023
Dec 31, 2022
Sep 30, 2022
Jun 30, 2022
Mar 31, 2022
Dec 31, 2021
Sep 30, 2021
Jun 30, 2021
Mar 31, 2021
Dec 31, 2020
Sep 30, 2020
Jun 30, 2020
Mar 31, 2020
Dec 31, 2019
Sep 30, 2019
Net sales
10,243,014)
12,682,491)
5,017,790)
5,756,911)
4,599,913)
5,677,962)
5,937,256)
5,354,589)
3,850,066)
3,664,924)
2,119,672)
2,184,861)
1,283,296)
1,803,195)
1,852,130)
1,635,460)
1,355,490)
1,172,419)
1,032,730)
1,068,985)
895,881)
830,306)
762,250)
896,126)
772,408)
870,943)
799,804)
Cost of sales
(9,224,334)
(11,883,924)
(4,550,417)
(5,212,809)
(4,159,695)
(5,007,940)
(5,161,676)
(4,808,560)
(3,252,698)
(3,100,602)
(1,765,981)
(1,813,165)
(1,056,937)
(1,465,773)
(1,504,595)
(1,348,116)
(1,144,715)
(1,008,676)
(894,591)
(923,474)
(772,864)
(694,211)
(632,335)
(772,609)
(639,048)
(732,539)
(668,875)
Gross profit
1,018,680)
798,567)
467,373)
544,102)
440,218)
670,022)
775,580)
546,029)
597,368)
564,322)
353,691)
371,696)
226,359)
337,422)
347,535)
287,344)
210,775)
163,743)
138,139)
145,511)
123,017)
136,095)
129,915)
123,517)
133,360)
138,404)
130,929)
Research and development
(215,659)
(180,761)
(173,314)
(183,221)
(162,857)
(158,229)
(132,243)
(127,471)
(116,226)
(108,824)
(111,027)
(84,802)
(77,515)
(70,700)
(74,243)
(70,790)
(70,869)
(65,471)
(65,143)
(58,930)
(57,912)
(52,729)
(54,798)
(66,748)
(49,586)
(55,572)
(49,572)
Sales and marketing
(89,510)
(73,078)
(47,928)
(64,739)
(59,978)
(79,568)
(68,854)
(55,963)
(49,691)
(46,854)
(37,230)
(31,905)
(25,312)
(28,445)
(29,363)
(24,186)
(22,356)
(21,960)
(21,624)
(22,825)
(21,826)
(20,740)
(20,292)
(21,080)
(21,886)
(21,977)
(20,194)
General and administrative
(87,643)
(70,430)
(63,875)
(67,751)
(70,603)
(63,601)
(65,284)
(74,109)
(53,137)
(37,180)
(32,924)
(28,234)
(24,450)
(23,095)
(23,806)
(27,155)
(27,773)
(25,263)
(22,244)
(24,675)
(26,224)
(25,261)
(24,379)
(26,261)
(46,342)
(33,040)
(28,298)
Operating expenses
(392,812)
(324,269)
(285,117)
(315,711)
(293,438)
(301,398)
(266,381)
(257,543)
(219,054)
(192,858)
(181,181)
(144,941)
(127,277)
(122,240)
(127,412)
(122,131)
(120,998)
(112,694)
(109,011)
(106,430)
(105,962)
(98,730)
(99,469)
(114,089)
(117,814)
(110,589)
(98,064)
Income from operations
625,868)
474,298)
182,256)
228,391)
146,780)
368,624)
509,199)
288,486)
378,314)
371,464)
172,510)
226,755)
99,082)
215,182)
220,123)
165,213)
89,777)
51,049)
29,128)
39,081)
17,055)
37,365)
30,446)
9,428)
15,546)
27,815)
32,865)
Other income (expense), net
4,147)
225)
51,227)
16,616)
(18,313)
12,959)
7,233)
13,955)
10,035)
(7,886)
6,613)
2,005)
(78)
(6,335)
8,054)
3,973)
4,663)
(607)
50)
(1,471)
2,017)
(2,539)
(841)
(700)
937)
(416)
1,589)
Interest income
45,437)
51,042)
—)
—)
—)
—)
—)
—)
—)
—)
—)
—)
—)
—)
—)
—)
—)
—)
—)
—)
—)
—)
—)
—)
—)
—)
—)
Interest expense
(64,483)
(25,358)
(24,931)
(22,282)
(13,402)
(6,535)
(17,354)
(3,112)
(6,246)
(8,131)
(1,863)
(3,509)
(1,288)
(1,756)
(3,938)
(2,928)
(1,531)
(1,150)
(804)
(635)
(607)
(569)
(674)
(606)
(518)
(560)
(552)
Income before income tax provision
610,969)
500,207)
208,552)
222,725)
115,065)
375,048)
499,078)
299,329)
382,103)
355,447)
177,260)
225,251)
97,716)
207,091)
224,239)
166,258)
92,909)
49,292)
28,374)
36,975)
18,465)
34,257)
28,931)
8,122)
15,965)
26,839)
33,902)
Income tax (provision) benefit
(126,887)
(99,151)
(40,161)
(19,307)
(5,843)
(56,969)
(74,732)
(1,559)
19,983)
(61,503)
(20,215)
(31,302)
(10,857)
(29,573)
(38,934)
(25,760)
(16,192)
(7,599)
(3,325)
1,605)
227)
(5,108)
(3,660)
6,860)
899)
(2,113)
(8,568)
Share of income (loss) from equity investee, net of taxes
Net sales demonstrate an exponential growth trajectory over the analyzed period. Revenue increased from 799.8 million US dollars in September 2019 to a peak of 12.68 billion US dollars in December 2025, before settling at 10.24 billion US dollars by March 2026. This suggests a period of rapid market expansion and scaling of operations.
Gross Profitability and Margin Trends
While absolute gross profit rose from 130.9 million US dollars in September 2019 to 1.02 billion US dollars by March 2026, the gross margin percentage exhibits significant compression. In the earlier years, gross profit was consistently higher relative to sales; however, in recent quarters, particularly December 2025, the cost of sales increased disproportionately, indicating a decrease in the percentage of revenue retained after direct production costs.
Operational Expense Management
Operating expenses have grown at a far slower rate than net sales, illustrating strong operating leverage. Total operating expenses rose from 98 million US dollars in September 2019 to 392.8 million US dollars in March 2026. Research and development costs scaled upward from 49.5 million US dollars to 215.6 million US dollars, while sales, marketing, and general administrative expenses increased more modestly, allowing a larger portion of the gross profit to flow to operating income.
Operating and Net Income Performance
Income from operations grew from 32.8 million US dollars in September 2019 to 625.8 million US dollars in March 2026. Net income followed a similar upward trend, starting at 26.3 million US dollars and reaching 483.3 million US dollars by the end of the period. This growth was occasionally interrupted by volatility in income tax provisions and equity investee losses, but the overall trend remains positive.
Financing and Other Income
Interest expenses have escalated sharply, increasing from 552 thousand US dollars in September 2019 to 64.4 million US dollars by March 2026. This suggests an increase in debt obligations or financing costs associated with the company's rapid scale-up. Conversely, interest income appeared in the final two quarters, contributing approximately 45 to 51 million US dollars to the bottom line.
