As of Q2'26 (2025-12-31), SMCI reported a revenue surprise of 22.64% and a year-over-year revenue growth of 123.36%. This marks a significant positive deviation from analyst expectations and a strong rebound in growth at the latest data point. Over the period from Q2'23 to Q2'26, the revenue surprise percentage for SMCI has been highly volatile, with notable negative surprises in Q3'23 (-24.79%), Q3'24 (-27.28%), Q1'25 (-88.14%), and Q1'26 (-51.48%), interspersed with positive surprises such as Q2'24 (19.95%) and the latest Q2'26 (22.64%). Revenue growth (YoY) displayed rapid acceleration, peaking at 200.01% in Q3'24, followed by continued high growth through Q1'25 before moderating and briefly turning negative in Q1'26 (-15.49%), then sharply rebounding in Q2'26. This pattern indicates a period of strong expansion with intermittent volatility in both actual results versus expectations and underlying growth rates.