SHARPE
Reported results
- Q3 2026 revenue of $1,235.8 million increased 138.1% year-over-year; product revenue of $1,073.6 million increased 179.4%.
- GAAP gross margin of 33.8% increased 453 basis points; non-GAAP gross margin of 34.5% increased 412 basis points.
- GAAP operating income of $225.4 million increased $217.6 million; non-GAAP operating income of $285.7 million increased $239.4 million.
- GAAP EPS (diluted) of $0.78 increased $0.88; non-GAAP EPS (diluted) of $0.94 increased $0.79.
- Adjusted EBITDA of $299.5 million in Q3 2026 compared to $59.0 million in Q3 2025.
Guidance
- Full year 2026 revenue guidance: $4.4 billion to $4.6 billion
- Full year 2026 non-GAAP gross margin: ~34%
- Full year 2026 non-GAAP operating income: $960 million to $1,030 million
- Full year 2026 non-GAAP EPS: $3.10 to $3.40
Notes
Company raised full year 2026 guidance for the third time in 2026. Company added to S&P 500. Non-GAAP guidance figures cannot be quantitatively reconciled to GAAP without unreasonable effort due to uncertainty regarding stock-based compensation and other reconciling items.
Price and volatility reaction
The stock moved -11.2% on the print. No front-expiry chain was on file, so there is no straddle expected move. 30-day ATM implied volatility moved -10.0 vol points across the event (constant-maturity series — not the front-week crush).
| Measure | Value | Basis |
|---|---|---|
| Close before release | 217.77 | 2026-10-22 |
| Close after release | 193.3 | 2026-10-23 |
| Realised move | -11.2% | close to close |
| 30d ATM IV change | -10.0 vol pts | constant-maturity series, not the front expiry |
Source
The figures above come from the earnings release the company filed with the SEC on 2026-10-22 (8-K, Item 2.02). Read the original filing on sec.gov.