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Revenue: $8.97 billion, up 51% sequentially and up 372% year-over-year beat consensus (\~$8.3B) and management's own guide of $7.75–8.25B
Net income: $6.90 billion, up 91% sequentially compared to a net loss of $23 million in the same quarter last year (essentially infinite YoY growth, swung from loss to profit)
Diluted EPS: $43.97, vs. a loss of $0.16/share a year ago
Gross margin: 84.6%, up 6.2 points sequentially and up 58.4 points year-over-year
Full fiscal year 2026
Revenue: $20.25 billion, up 175% year-over-year
Net income: $11.43 billion, diluted EPS $73.76
Gross margin: 71.5%, up 41.4 points year-over-year
Key drivers (with YoY)
Data center revenue: $2.98B in Q4, up 103% sequentially, essentially from a near-zero base a year ago
Data center share of portfolio: grew from 12% to 38% of the total mix year-over-year
Full-year data center revenue: $5.15B, up 437% YoY
Edge revenue: $5.43B in Q4, up 48% sequentially and up 392% YoY
Full-year edge revenue: $12.16B, up 195% YoY
Consumer revenue: $556M in Q4, down 32% sequentially
Operating income: $7.04B, up 71% sequentially
Tech leadership
BiCS8 has ramped to the majority of bit production, and BiCS10 was announced positioning SanDisk as an industry gold standard for NAND across TLC and QLC.
Capital returns
Generated $5.0 billion in adjusted free cash flow (56% margin) and repurchased $4.5 billion of stock, with an additional $14 billion buyback authorization approved.
New Business Models (NBMs)
NBMs now provide 4+ years of revenue visibility, with over 50% of FY2027 bits and \~2/3 of FY2028 bits already committed, backed by $16.5 billion in financial guarantees. 10 new business agreements signed, worth a minimum of $93.9B.
Q1 FY2027 guidance
Revenue $10.30B–$10.80B (implies continued steep YoY growth given Q1 FY2026 was much smaller), EPS $44–$46.
Stock reaction
Shares fell \~12% after-hours despite the beat, as classic "sell the news" after a strong 2026 run-up.
CEO commentary
CEO David Goeckeler said the company closed FY26 with a leading technology portfolio, established data center as a key growth pillar, and deepened customer partnerships positioning SanDisk to generate growing, durable free cash flow.
Now things to watch going forward is whether SanDisk is able to sustain the revenue, income and gross margin. Add new products to its product mix and not just rely on price increase only.
But overall an excellent stock to be in investing for a long term perspective.