Sandisk approves $14 billion buyback as fiscal Q4 revenue rises to $8.97 billion

On August 5, 2026, Sandisk reported results for its fiscal fourth quarter ended July 3, 2026, and said its board of directors approved an additional $14 billion share repurchase program, exclusive of fees and commissions. The approval brings total remaining repurchase authorization to $15.5 billion.

Fiscal fourth quarter revenue was $8.97 billion, up 51% from the prior quarter. GAAP net income was $6.90 billion, or $43.97 per diluted share, and non-GAAP diluted net income per share was $39.25. The company said approximately one-third of the sequential revenue growth came from higher volumes and two-thirds from higher pricing.

For fiscal 2026, revenue was $20.25 billion, up 175% from fiscal 2025, and GAAP net income was $11.43 billion, or $73.76 per diluted share. Non-GAAP diluted net income per share was $70.88. Sandisk attributed the revenue growth to a mix shift toward higher-value customers, with Datacenter revenue up 437%, and to higher pricing.

Sandisk said the repurchases may be made through open market purchases, including under a Rule 10b5-1 plan, or by other methods permitted by securities laws. Sandisk expects the repurchases to be funded by operating cash flows. The company said the amount and timing will depend on market conditions and other factors. It said it may suspend or discontinue the program at any time. The approval does not obligate Sandisk to repurchase any shares.

For the fiscal first quarter of 2027, Sandisk said it expects revenue of $10.30 billion to $10.80 billion and non-GAAP diluted net income per share of $44.00 to $46.00. Sandisk said the non-GAAP per-share figure excludes items totaling $59 million to $81 million.