| Quarter | Call date | Disclosure | Financial quality | Kept | Missed | |
|---|---|---|---|---|---|---|
| Q4'26 | August 5, 2026 | 5/12 | 1 high, 4 medium, 1 low flags | 0 | 0 | Call sheet → |
| Q3'26 | April 30, 2026 | 11/12 | 1 high, 2 medium, 4 low flags | 6 | 1 | Call sheet → |
| Q2'26 | January 29, 2026 | 5/12 | 1 high, 5 medium, 1 low flags | 3 | 1 | Call sheet → |
| Marked | Status | Promise |
|---|---|---|
| Q3'26 | Delivered | Build strategic relationships with diversified customer mix NBM agreements across multiple customers and markets |
| Q3'26 | Delivered | Continue to be prudent with capital spending CapEx at just 4% of revenue, down from 8.4% |
| Q3'26 | Delivered | Extension of Kioxia JV Extended through 2034, though had to pay $1.165B for it |
| Q3'26 | Missed | Mid to high teens bit growth through BiCS 8 transition Bits down high-teens sequentially, building inventory instead |
| Q3'26 | Delivered | Evolve from quarterly negotiations to multiyear agreements Five agreements signed with $42B+ in commitments |
| Q3'26 | Delivered | Continue qualifications at additional hyperscalers over coming quarters Completed qualification at second hyperscaler as promised |
| Q3'26 | Pending | Stargate to begin shipping within next several quarters Now saying Q4, technically within promise but timeline seems pushed |
| Q3'26 | Exceeded | Data center revenue to grow meaningfully in near and long term Delivered 233% sequential growth, far exceeding 'meaningful' promise |
| Q2'26 | Delivered | Mid to high teens bit growth 22% YoY growth, though sequential slowing |
| Q2'26 | Pending | HBF memory in late 2026 Language softened to 'continue to work on it' |
| Q2'26 | Exceeded | Net cash position in 6 months Achieved in Q1, one quarter early |
| Q2'26 | Missed | Stargate shipping in H1 calendar 2026 Pushed to 'next several quarters' which could mean Q4 |
| Q2'26 | Pending | BiCS8 to reach majority of production exiting FY26 No longer disclosing specific percentage, concerning |
| Q2'26 | Delivered | Sequential data center growth throughout FY26 64% sequential growth in Q2 exceeded expectations |
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