Sandisk reported a strong start to fiscal year 2026 (QQ1) with revenue of $2.308 billion, marking a 21% rise quarter-over-quarter and 23% year-over-year. Non-GAAP EPS of $1.22 exceeded guidance, aided by higher-than-expected gross margins and a favorable tax rate. The company generated $448 million in adjusted free cash flow and exited the quarter with a net cash position of about $91 million, underscoring disciplined balance-sheet management amid a supply-constrained NAND market. Management highlighted robust demand across data center, edge, and consumer end-markets, with BiCS8 driving mix and the data-center transition accelerating as hyperscalers seek higher performance, density, and energy efficiency. QQ1 also featured meaningful progress on BiCS8 ramp and key qualifications for Stargate enterprise SSDs, setting Sandisk up for continued margin expansion and cash-flow generation into calendar 2026.