Sandisk Corporation develops, manufactures, and sells data storage devices and solutions using NAND flash technology in the United States, Europe, the Middle East, Africa, Asia, and internationally. The company offers solid state drives for desktop and notebook PCs, gaming consoles, and set top boxes; and flash-based embedded storage products for mobile phones, tablets, notebook PCs and other portable and wearable devices, automotive applications, Internet of Things, industrial, and connected home applications, as well as removable cards, universal serial bus drives, and wafers and components.
Q4 FY2026 results
Sandisk is held in the US Starter Pack. The company reported fiscal fourth quarter and full year results after the close on Wednesday 5 August.
| Metric | Actual | Consensus |
| Revenue | $8.97bn | $8.48bn |
| Non-GAAP EPS | $39.25 | $34.96 |
| Non-GAAP gross margin | 84.6% | prior year 26.4% |
| Q1 FY27 revenue guidance | $10.3 to 10.8bn | $10.82bn |
Revenue rose 372 percent year on year to $8.97 billion and 51 percent sequentially, ahead of the $8.48 billion consensus. Non-GAAP diluted earnings per share of $39.25 beat the $34.96 estimate against $0.29 a year ago. GAAP diluted EPS of $43.97 includes an $804 million gain on equity securities that non-GAAP excludes. Sandisk attributed roughly two thirds of the $3.02 billion sequential revenue gain to pricing and one third to volume.
Gross margin reached 84.6 percent against 26.4 percent a year ago, an expansion of 58 points. Non-GAAP operating income of $7.10 billion rose 68 percent sequentially. Datacenter revenue rose to $2.98 billion from $213 million and now represents 38 percent of shipped bits, up from 12 percent. Edge revenue rose 392 percent to $5.43 billion, while Consumer fell 5 percent.
The contracted revenue disclosure carries the story. Sandisk has now signed ten New Business Model agreements, five since the April call, covering $93.9 billion of minimum contracted revenue at floor prices with a weighted average term above four years. Remaining performance obligations stood at $59.8 billion at quarter end, or $91.1 billion including deals signed after the quarter. About 50 percent of fiscal 2027 bits and 67 percent of fiscal 2028 bits are already committed. The company began revenue shipments of the Stargate QLC platform.
For the full year, revenue rose 175 percent to $20.25 billion and non-GAAP EPS reached $70.88 against $2.99. Free cash flow reached $11.49 billion. The board added $14 billion to the buyback authorisation, taking the remaining total to $15.5 billion, and Sandisk repurchased $4.52 billion during the quarter. The company carries no debt after repaying $1.90 billion during the year.
First quarter revenue guidance of $10.3 to $10.8 billion sits about 2.5 percent below consensus at the midpoint, while EPS guidance of $44.00 to $46.00 brackets the $44.72 estimate. Shares closed down 5.4 percent at $1,350.50, then fell about 4 percent after hours to near $1,294. An investor day is scheduled for 13 August.
