Sandisk Corporation (SNDK) Q1 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

conference specialist by pressing the star key followed by zero. After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press star then one on a touchtone phone. To withdraw your question, please press star then two. Please note this event is being recorded. I would now like to turn the conference over to Ivan Donaldson, Vice President of Investor Relations. Please go ahead. Before we begin, please note that today's discussion will contain forward-looking statements based on management's current assumptions and expectations, which are subject to various risks and uncertainties. These forward-looking statements include expectations for our technology and product portfolio, our business plans and performance, market trends and opportunities, and our future financial results. We assume no obligation to update these statements. Please refer to our annual report on Form 10-K and our other filings with the SEC for more information on the risks and uncertainties that could cause actual results to differ materially from expectations. We will also make reference to non-GAAP financial measures today. Reconciliations between the non-GAAP and comparable GAAP financial measures are included in written materials posted in the investor relations section of our website. With that, I'll turn the call over to David. Thanks, Ivan. Good afternoon, and thank you for joining Sandisk's first quarter fiscal year 2026 earnings call. Sandisk delivered a strong quarter with revenue of $2.3 billion, up sequentially 21%, and non-GAAP earnings per share of $1.22. We generated $448 million in adjusted free cash flow and closed the quarter in a net cash position of $91 million. As discussed in February during our analyst day, we are focused on growing ...