Income Statement
Quarterly Data

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:	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	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	(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	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	(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	(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	(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	(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	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	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	51,042)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Interest expense	(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	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	(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	(492)	(106)	(8,264)	(445)	2,517)	(19)	(526)	373)	2,024)	(50)	(380)	(1,013)	(1,351)	(889)	324)	255)	239)	388)	582)	(264)	(1,475)	1,330)	3,468)	(1,057)	(1,020)	1,011)
Net income	400,564)	168,285)	195,154)	108,777)	320,596)	424,327)	297,244)	402,459)	295,968)	156,995)	193,569)	85,846)	176,167)	184,416)	140,822)	76,972)	41,932)	25,437)	39,162)	18,428)	27,674)	26,601)	18,450)	15,807)	23,706)	26,345)

The financial performance, as indicated by the income statement, demonstrates significant fluctuations over the analyzed period spanning from September 2019 to December 2025. Net sales exhibited a generally increasing trend, particularly accelerating from March 2021 onwards, culminating in substantial growth in the latter half of 2024 and early 2025. However, a notable decline in net sales is observed in the most recent periods, March and June 2025.

Gross profit mirrored the trend in net sales, with overall growth but also experiencing a downturn in the most recent quarters. Cost of sales consistently increased alongside net sales, maintaining a relatively stable percentage of revenue. Operating expenses also increased over time, though not always in direct proportion to revenue growth, impacting overall profitability.

Revenue Growth: Initial periods (2019-2020) showed moderate revenue fluctuations. A period of more consistent growth began in 2021, with a marked acceleration in 2023 and 2024. The substantial increase in revenue in late 2024 and early 2025 was followed by a significant decrease in the most recent two quarters, suggesting a potential shift in market conditions or company performance.
Profitability Trends: Gross profit generally increased with revenue, but the rate of increase varied. Operating income showed a similar pattern, with periods of growth interspersed with periods of relative stagnation. Net income experienced considerable volatility, influenced by fluctuations in other income/expense and income tax provisions. The substantial net income figures in 2024 and early 2025 were preceded by more moderate levels, and the recent decline in revenue appears to be impacting net income.
Expense Management: Cost of sales consistently represented a significant portion of net sales. Research and development expenses increased over the period, indicating a continued investment in innovation. Sales and marketing expenses also rose, likely in support of revenue growth initiatives. General and administrative expenses exhibited a steady upward trend. Operating expenses, as a whole, increased, but the company demonstrated some ability to manage these expenses relative to revenue growth, particularly in earlier periods.
Other Income and Taxes: Other income (expense), net, introduced variability to the overall income. The income tax provision fluctuated significantly, sometimes acting as a substantial offset to income before taxes. The presence of interest income and expense, while relatively small in earlier periods, became more prominent, particularly interest expense in later periods.

The company experienced a period of rapid expansion in revenue and profitability, particularly in 2024 and early 2025. However, the recent decline in net sales and associated profitability metrics warrants further investigation to determine the underlying causes and potential implications for future performance. The increasing operating expenses also require monitoring to ensure they remain aligned with revenue growth and strategic objectives.

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Super Micro Computer Inc. (NASDAQ:SMCI)

Income Statement Quarterly Data

Income Statement
Quarterly Data