Highlights

  • Sandisk scheduled 1QFY27 results for 29 October following a substantial increase in revenue during the previous fiscal quarter.
  • Fourth-quarter revenue reached USD 8.97bn, with higher pricing contributing approximately two-thirds of the sequential revenue increase reported.
  • The company outlined multi-year customer agreements covering approximately half of FY27 bit volumes at its August investor day.
  • Its technology roadmap combines NAND scaling and high-bandwidth flash development with a longer-term financial framework extending through FY30.

Longer customer commitments are becoming an important part of the operating model at Sandisk Corporation (NASDAQ:SNDK), which develops and manufactures flash memory and storage products. Its August investor day connected those agreements with a NAND technology roadmap and multi-year financial targets. The next quarterly results are due on 29 October. Shares closed at USD 1,255.58, up 1.42%, after the market session ended on 26 October 2026.

Pricing and Volumes Lift the Quarterly Base

Revenue reached USD 8.97bn in 4QFY26, up 51% QoQ. Approximately one-third of the sequential increase came from volume and two-thirds from pricing. GAAP gross margin increased to 84.6% from 78.4%, while operating income rose 71% QoQ to USD 7.04bn.

FY26 revenue totalled USD 20.25bn, up 175% YoY. At the August results release, management guided 1QFY27 revenue to USD 10.30bn–10.80bn and non-GAAP diluted earnings to USD 44.00–46.00 per share. Those projections apply to the new fiscal quarter; the October reporting event is intended to establish its actual outcome. Higher realised pricing in the previous period is a historical driver, rather than an assumption that every future quarter follows the same trajectory.

Customer Agreements Inform the Capacity Roadmap

At its 13 August investor day, Sandisk described agreements with eight customers representing approximately 50% of FY27 bits and two-thirds of FY28 bits. The arrangements combine committed volumes, minimum financial guarantees and structured pricing mechanisms to align customer requirements with capacity planning.

The technology roadmap includes BiCS9 QLC, which combines elements of two existing process generations, and a BiCS10 QLC node targeting greater bit density. For FY28–FY30, management outlined mid-to-high-teens revenue growth, approximately 80% non-GAAP gross margin and around 50% adjusted free cash flow margin. These remain long-term financial objectives, distinct from quarterly guidance and realised results. The company also expects to return excess cash after funding business investment.

The October Update Opens a New Reporting Period

Sandisk confirmed on 29 September that its 1QFY27 earnings call would take place after the market close on 29 October. The webcast is scheduled for 1:30 p.m. Pacific time. This is the next confirmed financial milestone following the August results and investor day announcements.

The timing leaves the latest quarter's revenue and earnings outcome unreported at the 26 October close. Until publication, the earlier USD 10.30bn–10.80bn range remains management's estimate. The update will provide the next reported period against which to assess the progression of storage demand, pricing and the customer contract model. It should also separate near-term financial performance from the FY28–FY30 framework, whose longer horizon covers future technology transitions and capital allocation decisions rather than a single current trading period.