Sandisk Revenue Hits $11.0 Billion as Data Center Sales Jump 61%

Sandisk Corporation reported fiscal first quarter 2027 revenue of $11.0 billion ($11,031 million) in its own results release on Oct. 29, up 23% from the $8,965 million of the prior quarter, with data center revenue of $4,802 million, up 61% sequentially.

The quarter ended Oct. 2, 2026. GAAP gross margin was 85.0% and non-GAAP gross margin 85.1%, against 84.6% in the fourth quarter. GAAP net income was $8.1 billion, or $52.60 per diluted share, and non-GAAP earnings were $49.51 per share, up from $39.25. A year earlier, revenue was $2,308 million and non-GAAP earnings per share were $1.22.

For the fiscal second quarter, Sandisk guided revenue to a range of $12.2 billion to $12.6 billion, with non-GAAP gross margin of 84.5% to 85.5% and non-GAAP earnings of $55.00 to $57.00 per diluted share. All per-share figures in the release are before the eight-for-one stock split, which takes effect on Nov. 19, 2026.

Data center leads the mix

Sandisk splits revenue into three end markets. Data center brought in $4,802 million, up from $2,977 million in the fourth quarter and $269 million a year earlier. Edge, the largest market, rose 7% from the prior quarter to $5,832 million. Consumer fell 29% to $397 million. By Voltgrid's arithmetic, data center was about 44% of total revenue, and it supplied about 88% of the quarter's $2,066 million sequential increase ($1,825 million).

Chairman and CEO David Goeckeler said in the release that robust and growing demand for Sandisk products drove faster growth in the data center business. The company did not break out bit shipments, average selling prices or capacity in the release.

What it means for NAND and SSD supply

The release does not discuss supply or pricing directly, so the consequence is an inference from its numbers. Gross margin rose from 29.8% to 85.0% in a year while revenue grew 378%, a pattern that points to much higher realized prices per bit as well as higher volume. Sandisk makes the flash that goes into enterprise SSDs, and its mix is moving toward AI infrastructure customers while consumer sales shrink.

For data-center buyers, that mix shift is the point to watch. A flash maker whose revenue tilts toward data center is likely to commit more of its output to enterprise SSDs, and the guided $12.2 billion to $12.6 billion implies the ramp has not peaked. Sandisk gave no capacity or contract-pricing commentary, so how much of the growth is volume and how much is price remains unstated.

The balance sheet shows inventories of $3,016 million on Oct. 2, up from $2,698 million on July 3, 2026, while accounts receivable rose to $6,585 million from $4,708 million. Those are company figures, not a supply signal in themselves.

Wider flash market context

Sandisk's results land as the rest of the NAND market shifts. Voltgrid News reported earlier that YMTC passed Samsung as China's top NAND supplier, and that Solidigm reportedly floated a $45 billion US chip plant tied to a Dalian tool approval.

What the release leaves open

Sandisk returned $5.0 billion to stockholders in the quarter by repurchasing about 3.2 million shares. The company will discuss the outlook on a call at 1:30 p.m. Pacific on Oct. 29. The release itself gives no detail on enterprise SSD capacity, customer contracts or pricing, so those figures remain unconfirmed.