Super Micro Computer (SMCI) shares rocketed more than 25% in after-hours trading Tuesday after the company issued a stunning preliminary fiscal fourth-quarter update.
The stock had already closed the regular session roughly 7% higher before extending those gains sharply following the announcement.
The company said GAAP and non-GAAP gross margins are now estimated to be in the range of 15% to 17% for the fourth quarter of fiscal 2026.
That figure dwarfs prior guidance of 8.2% to 8.4%, with the company attributing the dramatic improvement to a favorable customer and product mix.
Super Micro reported that total new orders received during the fourth quarter of fiscal 2026 exceeded $60 billion, pushing its backlog to record levels.
The company said those new orders are expected to be “delivered over future quarters,” signaling a lengthy and robust revenue runway ahead.
Fourth-quarter revenues are estimated to land near the low end of the company’s guidance range of $11.0 billion to $12.5 billion, which analysts had pegged at approximately $11.67 billion, according to LSEG data.
CEO Charles Liang highlighted new work with SpaceX during the quarter as part of the business momentum driving the company’s performance.
Rivals Dell and Hewlett Packard Enterprise also saw their shares advance following Super Micro’s Tuesday update, reflecting broader optimism across the AI server supply chain.
Super Micro had previously announced in June a plan to raise $7 billion through a series of equity and equity-linked financing transactions to help fulfill roughly $39 billion in orders for its advanced AI servers from more than 20 customers.
The company has scheduled a live audio webcast and conference call to review full fourth-quarter and full-year fiscal 2026 results on August 11 at 5:00 p.m. ET.
The replay of that call is set to remain available for one year following the live broadcast.
Super Micro cautioned that the financial information disclosed is unaudited and based on preliminary results subject to revision during its financial closing procedures and finalization of statements.
The company also noted an ongoing independent board review of certain transactions related to alleged export-control issues, the outcome of which could affect its forecasts and preliminary results.
