- Sandisk expects mid-to-high-teens revenue growth, approximately 80% non-GAAP gross margins and approximately 75% non-GAAP operating margins for fiscal 2028 through fiscal 2030. [1] - Eight new-business-model agreements cover about half of fiscal 2027 bits and roughly two-thirds of fiscal 2028 bits, helping support the company’s long-range assumptions. [1] - Sandisk did not set a dollar capex target. Its 50% adjusted free-cash-flow margin is calculated after capital expenses, taxes and working capital.
[1] Sandisk laid out a fiscal 2028-to-2030 financial framework built around mid-to-high-teens annual revenue growth, approximately 80% non-GAAP gross margins and approximately 75% non-GAAP operating margins. The company also expects adjusted free cash flow to equal about 50% of revenue after taxes, capital expenses and working capital. [1]
The targets are management’s assumptions, not Wall Street forecasts. Sandisk did not publish a multi-year dollar capex figure in its investor-day release or a written transcript on the event page; it said excess cash would be returned to shareholders after investment in the business. [1][2]
AI storage and contracted demand #
Sandisk said AI inference is increasing storage requirements as token use and KV-cache workloads expand. It estimates the available market for enterprise data-center flash will reach 1.2 zettabytes by 2030. [1]
The company said eight customers have signed new-business-model agreements representing $93.9 billion of minimum contracted revenue at floor pricing. The agreements cover about 50% of bits in fiscal 2027 and about two-thirds in fiscal 2028, with weighted-average duration of more than four years. [3]
Companies mentioned #
Further sources #
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