As of Q2'26 (2025-12-31), SMCI reported its highest revenue in the period, reaching USD 12.68B, with a year-over-year revenue growth rate of 123.36%. This marks a substantial increase compared to the previous quarter, both in absolute revenue and growth rate. Over the period from Q3'23 to Q2'26, SMCI's revenue trend shows significant volatility, with periods of rapid growth and occasional declines. After steady increases from Q3'23 (USD 1.28B) to Q1'25 (USD 5.94B), revenue experienced fluctuations but surged dramatically in Q2'26. The YoY growth rate peaked multiple times, notably in Q3'24 (200.01%) and Q2'26 (123.36%), while also showing a brief negative dip in Q1'26. This pattern indicates a highly dynamic revenue trajectory, characterized by strong expansion phases and intermittent contractions.