Filing Flows › Sandisk (SNDK) › Q1 FY26
Sandisk (SNDK) Q1 FY26 earnings results (first quarter fiscal 2026)
10-Q filed Nov 7, 2025
Sandisk (SNDK) reported revenue of $2.3B for the first quarter fiscal 2026 (Q1 FY26), +23% from a year earlier and +21% from the quarter before. Operating margin was 7.6%, net earnings $112M (4.9% of revenue).
Sandisk, Q1 FY26: revenue $2.3B (+23% year over year), operating margin 7.6%, net earnings $112M, operating cash flow $488M. The chart follows the revenue to costs, profit and cash.
| Q1 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $2.3B | +21% | +23% |
| Gross profit | $687M | +38% | -5% |
| Operating profit | $176M | +878% | -40% |
| Net earnings | $112M | — | -47% |
| Operating cash flow | $488M | +419% | — |
| Free cash flow | $438M | +794% | — |
What changed
Revenue was $2.3B in Q1 FY26, up 23% year over year and up 21% from the previous quarter. Edge was the largest line at 60% of revenue. Edge added $0.32B year over year (up 30%), 75% of the total change. Datacenter declined 10%.
Gross margin was 29.8%, down 8.8 points from a year earlier. Operating profit was $0.18B, a 7.6% margin (down 7.8 points year over year). Operating profit fell $0.12B even though revenue rose $0.42B versus a year earlier, so costs grew faster than sales. Operating expenses grew 17% against revenue growth of 23%. The fastest-growing cost line was SG&A (+38%). Net earnings were $0.11B, down 47% year over year. The effective tax rate was 9.7%.
Operating cash flow was $0.49B, 436% of net earnings. Non-cash charges added back $0.04B of depreciation and amortization and $0.05B of share-based compensation. Working capital and other items added $0.29B. Capital expenditures of $0.05B left free cash flow of $0.44B.
Questions
What was Sandisk's revenue in the first quarter fiscal 2026?
Sandisk (SNDK) reported revenue of $2.3B for the first quarter fiscal 2026 (Q1 FY26), +23% from a year earlier and +21% from the quarter before.
Was Sandisk profitable in the first quarter fiscal 2026?
Operating profit was $176M (7.6% of revenue) and net earnings $112M.
Source: Sandisk 10-Q on SEC EDGAR.