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    Supermicro Announces Third Quarter Fiscal Year 2025 Financial Results

    5/6/25 4:05:00 PM ET
    $SMCI
    Computer Manufacturing
    Technology
    Get the next $SMCI alert in real time by email

    Super Micro Computer, Inc. (NASDAQ:SMCI) ("Supermicro" or the "Company"), a Total IT Solution Provider for AI, Cloud, Storage, and 5G/Edge, today announced unaudited financial results for its third quarter of fiscal year 2025 ended March 31, 2025.

    Third Quarter Fiscal Year 2025 Highlights

    • Net sales of $4.60 billion versus $5.68 billion in Q2'25 and $3.85 billion in Q3'24.
    • Gross margin of 9.6% versus 11.8% in Q2'25 and 15.5% in Q3'24.
    • Net income of $109 million versus $321 million in Q2'25 and $402 million in Q3'24.
    • Diluted net income per common share of $0.17 versus $0.51 in Q2'25 and $0.66 in Q3'24.
    • Non-GAAP diluted net income per common share of $0.31 versus $0.59 in Q2'25 and $0.66 in Q3'24.
    • Cash flow provided by operations for Q3'25 of $627 million and capital expenditures of $33 million.

    "We continue to make great progress with our DCBBS (Data Center Building Block Solution), DLC (Direct Liquid Cooled-2) and AI technology leadership, but some customers delayed making platform decisions in the quarter," said Charles Liang, Founder, President, and CEO of Supermicro. "We do expect many of those commitments to land in the June and September quarters, reinforcing my confidence in our ability to meet our long-term targets, however economic uncertainty and tariff impacts may have a short-term impact. We believe that we are well positioned in the long-term to capitalize on the growing market opportunity."

    The non-GAAP gross margin for the third quarter of fiscal year 2025 was 9.7% with adjustments for stock-based compensation expenses of $7 million. The non-GAAP diluted net income per common share for the third quarter of fiscal year 2025 was $0.31. This non-GAAP figure includes adjustments for stock-based compensation expenses and the loss on extinguishment of convertible notes of $62 million and $23 million, which are net of the related tax effect of $22 million and $7 million, respectively. As of March 31, 2025, total cash and cash equivalents was $2.54 billion and total bank debt and convertible notes were $2.49 billion.

    Recent Corporate Governance Updates

    The Company has made progress on strengthening its corporate governance practices and implementing recommendations by the Special Committee of the board of directors. All outstanding financial statements have been filed and the Company is in compliance with all Nasdaq filing requirements. Since December 2, 2024, Supermicro has strengthened its board of directors and management team with the additions of Scott Angel, who joined the company's board of directors, Yitai Hu, as the Company's General Counsel & Senior Vice President of Corporate Development, and Kenneth Cheung, as the Company's Senior Vice President and Chief Accounting Officer.

    Business Outlook

    The Company expects net sales of $5.6 billion to $6.4 billion for the fourth quarter of fiscal year 2025 ending June 30, 2025, GAAP net income per diluted share of $0.30 to $0.40 and non-GAAP net income per diluted share of $0.40 to $0.50. The Company's projections for GAAP and non-GAAP net income per diluted share assume a tax rate of approximately 14.9% and 16.5%, respectively, and a fully diluted share count of 628 million shares for GAAP and fully diluted share count of 642 million shares for non-GAAP. The outlook for fourth quarter of fiscal year 2025 GAAP net income per diluted share includes approximately $63 million in expected stock-based compensation, net of related tax effects of $18 million that are excluded from non-GAAP net income per diluted share.

    For fiscal year 2025, the Company is updating its revenue guidance from a range of $23.5 billion to $25.0 billion to a new range of $21.8 billion to $22.6 billion.

    Conference Call and Webcast Information

    Supermicro will present a live audio webcast of a conference call to review its third quarter of fiscal year 2025 on Tuesday, May 6, 2025, at 5:00 p.m. ET / 2:00 p.m. PT. The webcast will be available at https://ir.supermicro.com.

    A replay of the webcast will be available shortly after the call at the same website and will remain accessible for one year.

    Cautionary Statement Regarding Forward Looking Statements

    Statements contained in this press release that are not historical fact may be forward looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements can be identified by the use of forward-looking terminology such as "anticipate," "believe," "continue," "could," "estimate," "expect," "may," "plan," "seek," "should," "will," "would" or similar expressions and the negatives of those terms. Such forward looking statements may include statements regarding, among other things, guidance for the fourth quarter of fiscal year 2025 and updated full year fiscal 2025 guidance, realizing sales from delayed commitments in the upcoming quarters ending June 30, 2025 and September 30, 2025, meeting the Company's long-term targets and capitalizing on the growing market opportunity in the long-term, and our leadership in DCBBS and AI technology. Such forward looking statements do not constitute guarantees of future performance and are subject to a variety of risks and uncertainties that could cause our actual results to differ materially from those anticipated, including: (i) our quarterly operating results may fluctuate, (ii) as we increasingly target larger customers and larger sales opportunities, our customer base may become more concentrated, our cost of sales may increase, our margins may be lower and our sales may be less predictable, (iii) the average sales prices for our server solutions could decline if customers do not continue to purchase our latest generation products or additional components, and (v) adverse economic conditions could affect our business, including, but not limited to, increased tariffs. Additional factors that could cause actual results to differ materially from those projected or suggested in any forward looking statements are detailed in our filings with the Securities and Exchange Commission, including those factors discussed under the caption "Risk Factors" in such filings, particularly in our Annual Report on Form 10-K for our fiscal year ended June 30, 2024.

    About Super Micro Computer, Inc.

    Supermicro (NASDAQ:SMCI) is a global leader in Application-Optimized Total IT Solutions. Founded and operating in San Jose, California, Supermicro is committed to delivering first-to-market innovation for Enterprise, Cloud, AI, and 5G Telco/Edge IT Infrastructure. We are a Total IT Solutions manufacturer with server, AI, storage, IoT, switch systems, software, and support services. Supermicro's motherboard, power, and chassis design expertise further enables our development and production, enabling next-generation innovation from cloud to edge for our global customers. Our products are designed and manufactured in-house (in the US, Taiwan, and the Netherlands), leveraging global operations for scale and efficiency and optimized to improve TCO and reduce environmental impact (Green Computing). The award-winning portfolio of Server Building Block Solutions® allows customers to optimize for their exact workload and application by selecting from a broad family of systems built from our flexible and reusable building blocks that support a comprehensive set of form factors, processors, memory, GPUs, storage, networking, power, and cooling solutions (air-conditioned, free air cooling or liquid cooling).

    Supermicro, Server Building Block Solutions, and We Keep IT Green are trademarks and/or registered trademarks of Super Micro Computer, Inc.

    All other brands, names, and trademarks are the property of their respective owners.

    SUPER MICRO COMPUTER, INC.

    CONDENSED CONSOLIDATED BALANCE SHEETS

    (in thousands)

    (unaudited)

     

     

    March 31,

     

    June 30,

     

     

    2025

     

     

     

    2024

     

    ASSETS

     

     

     

    Current assets:

     

     

     

    Cash and cash equivalents

    $

    2,536,101

     

    $

    1,669,766

    Accounts receivable, net of allowance for credit losses

     

    2,642,556

     

     

     

    2,737,331

     

    Inventories

     

    3,870,243

     

     

     

    4,333,029

     

    Prepaid expenses and other current assets

     

    464,689

     

     

     

    191,834

     

    Total current assets

     

    9,513,589

     

     

     

    8,931,960

     

    Property, plant and equipment, net

     

    492,565

     

     

     

    414,008

     

    Deferred income taxes, net

     

    481,216

     

     

     

    365,172

     

    Other assets

     

    251,155

     

     

     

    114,952

     

    Total assets

    $

    10,738,525

     

     

    $

    9,826,092

     

    LIABILITIES AND STOCKHOLDERS' EQUITY

     

     

     

    Current liabilities:

     

     

     

    Accounts payable

    $

    643,050

     

     

    $

    1,472,381

     

    Accrued liabilities

     

    344,679

     

     

     

    259,674

     

    Income taxes payable

     

    23,633

     

     

     

    18,268

     

    Lines of credit and current portion of term loans

     

    63,971

     

     

     

    402,346

     

    Deferred revenue

     

    352,803

     

     

     

    193,052

     

    Total current liabilities

     

    1,428,136

     

     

     

    2,345,721

     

    Deferred revenue, non-current

     

    312,994

     

     

     

    223,324

     

    Term loans, non-current

     

    43,003

     

     

     

    74,083

     

    Convertible notes

     

    2,385,320

     

     

     

    1,697,716

     

    Other long-term liabilities

     

    189,593

     

     

     

    67,878

     

    Total liabilities

     

    4,359,046

     

     

     

    4,408,722

     

    Stockholders' equity:

     

     

     

    Common stock and additional paid-in capital

     

    2,939,276

     

     

     

    2,830,820

     

    Accumulated other comprehensive income

     

    663

     

     

     

    706

     

    Retained earnings

     

    3,439,380

     

     

     

    2,585,680

     

    Total Super Micro Computer, Inc. stockholders' equity

     

    6,379,319

     

     

     

    5,417,206

     

    Noncontrolling interest

     

    160

     

     

     

    164

     

    Total stockholders' equity

     

    6,379,479

     

     

     

    5,417,370

     

    Total liabilities and stockholders' equity

    $

    10,738,525

     

     

    $

    9,826,092

     

    SUPER MICRO COMPUTER, INC.

    CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

    (in thousands, except per share amounts)

    (unaudited)

     

     

    Three Months Ended

    March 31,

     

    Nine Months Ended

    March 31,

     

     

    2025

     

     

     

    2024

     

     

     

    2025

     

     

     

    2024

     

    Net sales

    $

    4,599,913

     

     

    $

    3,850,066

     

     

    $

    16,215,131

     

     

    $

    9,634,662

     

    Cost of sales

     

    4,159,695

     

     

     

    3,252,698

     

     

     

    14,329,311

     

     

     

    8,119,281

     

    Gross profit

     

    440,218

     

     

     

    597,368

     

     

     

    1,885,820

     

     

     

    1,515,381

     

    Operating expenses:

     

     

     

     

     

     

     

    Research and development

     

    162,857

     

     

     

    116,226

     

     

     

    453,329

     

     

     

    336,077

     

    Sales and marketing

     

    59,978

     

     

     

    49,691

     

     

     

    208,400

     

     

     

    133,775

     

    General and administrative

     

    70,603

     

     

     

    53,137

     

     

     

    199,488

     

     

     

    123,241

     

    Total operating expenses

     

    293,438

     

     

     

    219,054

     

     

     

    861,217

     

     

     

    593,093

     

    Income from operations

     

    146,780

     

     

     

    378,314

     

     

     

    1,024,603

     

     

     

    922,288

     

    Other (expense) income, net

     

    (18,313

    )

     

     

    10,035

     

     

     

    1,879

     

     

     

    8,762

     

    Interest expense

     

    (13,402

    )

     

     

    (6,246

    )

     

     

    (37,291

    )

     

     

    (16,240

    )

    Income before income tax provision

     

    115,065

     

     

     

    382,103

     

     

     

    989,191

     

     

     

    914,810

     

    Income tax (provision) benefit

     

    (5,843

    )

     

     

    19,983

     

     

     

    (137,544

    )

     

     

    (61,735

    )

    Share of (expense) income from equity investee, net of taxes

     

    (445

    )

     

     

    373

     

     

     

    2,053

     

     

     

    2,347

     

    Net income

    $

    108,777

     

     

    $

    402,459

     

     

    $

    853,700

     

     

    $

    855,422

     

    Net income per common share:

     

     

     

     

     

     

     

    Basic

    $

    0.18

     

     

    $

    0.71

     

     

    $

    1.44

     

     

    $

    1.57

     

    Diluted

    $

    0.17

     

     

    $

    0.66

     

     

    $

    1.37

     

     

    $

    1.45

     

    Weighted-average shares used in the calculation of net income per common share:

     

     

     

     

     

     

     

    Basic

     

    595,041

     

     

     

    564,780

     

     

     

    592,349

     

     

     

    545,620

     

    Diluted

     

    621,809

     

     

     

    614,310

     

     

     

    625,272

     

     

     

    588,890

     

    Stock-based compensation is included in the following cost and expense categories by period (in thousands):

     

     

    Three Months Ended

    March 31,

     

    Nine Months Ended

    March 31,

     

     

    2025

     

     

     

    2024

     

     

     

    2025

     

     

     

    2024

     

    Cost of sales

    $

    7,060

     

    $

    3,221

     

    $

    17,713

     

    $

    12,680

    Research and development

     

    54,254

     

     

     

    24,856

     

     

     

    141,590

     

     

     

    86,005

     

    Sales and marketing

     

    9,923

     

     

     

    4,993

     

     

     

    27,245

     

     

     

    14,998

     

    General and administrative

     

    13,467

     

     

     

    23,037

     

     

     

    44,292

     

     

     

    42,864

     

    Stock-based compensation expense, before taxes

    $

    84,704

     

     

    $

    56,107

     

     

    $

    230,840

     

     

    $

    156,547

     

    SUPER MICRO COMPUTER, INC.

    CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

    (in thousands)

    (unaudited)

     

     

    Nine Months Ended

    March 31,

     

     

    2025

     

     

     

    2024

     

    OPERATING ACTIVITIES:

     

     

     

    Net income

    $

    853,700

     

     

    $

    855,422

     

    Reconciliation of net income to net cash provided by (used in) operating activities:

     

     

     

    Depreciation and amortization

     

    39,708

     

     

     

    29,174

     

    Stock-based compensation expense

     

    230,840

     

     

     

    156,547

     

    Share of income from equity investee

     

    (2,053

    )

     

     

    (2,347

    )

    Unrealized foreign currency exchange loss (gain)

     

    2,742

     

     

     

    (282

    )

    Loss on extinguishment of convertible notes

     

    30,251

     

     

     

    —

     

    Deferred income taxes, net

     

    (134,401

    )

     

     

    (144,485

    )

    Other

     

    5,577

     

     

     

    3,186

     

    Changes in operating assets and liabilities:

     

     

     

    Accounts receivable, net

     

    94,782

     

     

     

    (501,870

    )

    Inventories

     

    457,897

     

     

     

    (2,679,023

    )

    Prepaid expenses and other assets

     

    (284,356

    )

     

     

    (25,673

    )

    Accounts payable

     

    (811,690

    )

     

     

    309,613

     

    Accrued liabilities

     

    52,714

     

     

     

    123,937

     

    Income taxes payable

     

    5,365

     

     

     

    (99,824

    )

    Deferred revenue

     

    249,421

     

     

     

    132,043

     

    Other long-term liabilities

     

    5,414

     

     

     

    5,424

     

    Net cash provided by (used in) operating activities

     

    795,911

     

     

     

    (1,838,158

    )

    INVESTING ACTIVITIES:

     

     

     

    Purchases of property, plant and equipment

     

    (104,536

    )

     

     

    (110,296

    )

    Investment in equity securities

     

    —

     

     

     

    (27,673

    )

    Net cash used in investing activities

     

    (104,536

    )

     

     

    (137,969

    )

    FINANCING ACTIVITIES:

     

     

     

    Proceeds from lines of credit and term loans

     

    1,357,991

     

     

     

    1,818,850

     

    Repayment of lines of credit and term loans

     

    (1,731,366

    )

     

     

    (1,939,590

    )

    Proceeds from exercise of stock options

     

    14,452

     

     

     

    25,114

     

    Payment for withholding taxes related to settlement of equity awards

     

    (118,960

    )

     

     

    (119,285

    )

    Issuances of common stock in public offerings, net of issuance costs

     

    —

     

     

     

    2,313,990

     

    Debt issuance costs in connection with amended 2029 Convertibles Notes

     

    (31,217

    )

     

     

    —

     

    Proceeds from issuance of 2029 Convertible Notes, net of issuance costs

     

    —

     

     

     

    1,695,768

     

    Proceeds from issuance of 2028 Convertible Notes, net of issuance costs

     

    683,696

     

     

     

    —

     

    Purchase of capped calls

     

    —

     

     

     

    (142,140

    )

    Other

     

    22

     

     

     

    76

     

    Net cash provided by financing activities

     

    174,618

     

     

     

    3,652,783

     

    Effect of exchange rate fluctuations on cash

     

    826

     

     

     

    (1,634

    )

    Net increase in cash, cash equivalents and restricted cash

     

    866,819

     

     

     

    1,675,022

     

    Cash, cash equivalents and restricted cash at the beginning of the period

     

    1,670,273

     

     

     

    440,960

     

    Cash, cash equivalents and restricted cash at the end of the period

    $

    2,537,092

     

     

    $

    2,115,982

     

     

     

     

     

     

     

     

     

    Supplemental disclosure of cash flow information:

     

     

     

    Cash paid for interest

    $

    24,046

     

     

    $

    14,813

     

    Cash paid for taxes, net of refunds

    $

    270,392

     

     

    $

    300,596

     

     

     

     

     

    Unpaid property, plant and equipment purchases

    $

    18,283

     

     

    $

    9,345

     

    Right of use assets obtained in exchange for operating lease commitments

    $

    128,617

     

     

    $

    24,140

     

    Transfer of inventory to property, plant and equipment

    $

    4,889

     

     

    $

    —

     

    SUPER MICRO COMPUTER, INC.

    RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES

    (in thousands, except per share amounts)

    (unaudited)

    Use of Non-GAAP Financial Measures

    To supplement its condensed consolidated financial results presented in accordance with United States Generally Accepted Accounting Principles ("GAAP"), the Company uses non-GAAP measures that are adjusted for certain items from the most directly comparable GAAP measures. The specific non-GAAP measures presented below are: gross margin; operating expenses; net income; net income per common share; diluted net income; diluted net income per common share; and effective tax rate. Further, beginning with this reporting period management is adding adjusted earnings before interest, taxes, depreciation, and amortization, ("Adjusted EBITDA") as an additional non-GAAP financial measure. Management believes these non-GAAP measures provide useful information to investors by offering a consistent basis for comparing the Company's performance across periods, excluding items that are not reflective of our core operating results. These non-GAAP measures are not prepared in accordance with GAAP or intended to be a replacement for GAAP financial data; and therefore, should be reviewed together with the GAAP measures and are not intended to serve as a substitute for results under GAAP, and may be different from non-GAAP measures used by other companies.

    We exclude the following adjustments from our non-GAAP financial measures:

    Non-GAAP Adjustments

    • Stock-based compensation: Stock-based compensation relates primarily to our equity incentive awards. Stock-based compensation is a non-cash expense that is dependent on market forces that are difficult to predict. We believe that this adjustment for stock-based compensation provides investors with a basis to measure the company's core performance, including compared with the performance of other companies, without the period-to-period variability created by stock-based compensation.
    • Loss on extinguishment of convertible notes: We exclude the loss on extinguishment of debt related to our convertible notes from our non-GAAP results, as it is a non-recurring, financing-related charge that does not reflect our underlying operating performance in the period incurred. We believe it is appropriate to exclude this loss - and to present it separately - to provide investors with greater insight, as it is directly tied to a capital-raising event and is not reflective of ongoing operating results.
    • Adjusted EBITDA adjustments: When calculating Adjusted EBITDA, in addition to the adjustments described above, we exclude the impact of the following items during the period:
    • Interest expense
    • Income tax (provision) benefit
    • Depreciation and amortization

    Pursuant to the requirements of SEC Regulation G, please see the tables below for the reconciliations of GAAP to Non-GAAP measures. These should be read together with the preceding financial statements prepared in accordance with GAAP.

    SUPER MICRO COMPUTER, INC.

    RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES

    (in thousands, except per share amounts)

    (unaudited)

     

    Reconciliation of GAAP Net Income to Adjusted EBITDA:

     

     

    Q1 2024

     

    Q2 2024

     

    Q3 2024

     

    Q4 2024

     

    Q1 2025

     

    Q2 2025

     

    Q3 2025

    GAAP Net Income

    $

    156,995

     

     

    $

    295,968

     

     

    $

    402,459

     

     

    $

    297,244

     

     

    $

    424,327

     

     

    $

    320,596

     

     

    $

    108,777

     

    Interest expense

     

    1,863

     

     

     

    8,131

     

     

     

    6,246

     

     

     

    3,112

     

     

     

    17,354

     

     

     

    6,535

     

     

     

    13,402

     

    Income tax provision (benefit)

     

    20,215

     

     

     

    61,503

     

     

     

    (19,983

    )

     

     

    1,559

     

     

     

    74,732

     

     

     

    56,969

     

     

     

    5,843

     

    Depreciation & Amortization

     

    9,097

     

     

     

    9,479

     

     

     

    9,830

     

     

     

    10,287

     

     

     

    11,776

     

     

     

    12,725

     

     

     

    15,207

     

    Stock-based compensation

     

    57,379

     

     

     

    43,061

     

     

     

    56,107

     

     

     

    74,960

     

     

     

    64,014

     

     

     

    82,122

     

     

     

    84,704

     

    Loss on extinguishment of convertible notes

     

    —

     

     

     

    —

     

     

     

    —

     

     

     

    —

     

     

     

    —

     

     

     

    —

     

     

     

    30,251

     

    Adjusted EBITDA

    $

    245,549

     

     

    $

    418,142

     

     

    $

    454,659

     

     

    $

    387,162

     

     

    $

    592,203

     

     

    $

    478,947

     

     

    $

    258,184

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Adjusted EBITDA % of net sales

     

    11.6

    %

     

     

    11.4

    %

     

     

    11.8

    %

     

     

    7.2

    %

     

     

    10.0

    %

     

     

    8.4

    %

     

     

    5.6

    %

    Reconciliation of GAAP to Non-GAAP Gross Margin:

     

     

    Q1 2024

     

    Q2 2024

     

    Q3 2024

     

    Q4 2024

     

    Q1 2025

     

    Q2 2025

     

    Q3 2025

    GAAP Gross Profit

    $

    353,691

     

     

    $

    564,322

     

     

    $

    597,368

     

     

    $

    546,029

     

     

    $

    775,580

     

     

    $

    670,022

     

     

    $

    440,218

     

    Stock-based compensation

     

    5,904

     

     

     

    3,555

     

     

     

    3,221

     

     

     

    3,185

     

     

     

    3,959

     

     

     

    6,694

     

     

     

    7,060

     

    Non-GAAP Gross Profit

    $

    359,595

     

     

    $

    567,877

     

     

    $

    600,589

     

     

    $

    549,214

     

     

    $

    779,539

     

     

    $

    676,716

     

     

    $

    447,278

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    GAAP gross margin (%)

     

    16.7

    %

     

     

    15.4

    %

     

     

    15.5

    %

     

     

    10.2

    %

     

     

    13.1

    %

     

     

    11.8

    %

     

     

    9.6

    %

    Stock-based compensation (%)

     

    0.3

    %

     

     

    0.1

    %

     

     

    0.1

    %

     

     

    0.1

    %

     

     

    —

    %

    *

     

    0.1

    %

     

     

    0.1

    %

    Non-GAAP gross margin (%)

     

    17.0

    %

     

     

    15.5

    %

     

     

    15.6

    %

     

     

    10.3

    %

     

     

    13.1

    %

     

     

    11.9

    %

     

     

    9.7

    %

     

    *Represents an amount less than 0.1%.

    SUPER MICRO COMPUTER, INC.

    RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES

    (in thousands, except per share amounts)

    (unaudited)

     

    Reconciliation of GAAP to Non-GAAP Operating Expenses:

     

     

    Q1 2024

     

    Q2 2024

     

    Q3 2024

     

    Q4 2024

     

    Q1 2025

     

    Q2 2025

     

    Q3 2025

    GAAP Operating Expenses

    $

    181,181

     

    $

    192,858

     

    $

    219,054

     

    $

    257,543

     

    $

    266,381

     

    $

    301,398

     

    $

    293,438

    Adjustments to operating expenses

     

     

     

     

     

     

     

     

     

     

     

     

     

    GAAP R&D operating expenses

     

    111,027

     

     

     

    108,824

     

     

     

    116,226

     

     

     

    127,471

     

     

     

    132,243

     

     

     

    158,229

     

     

     

    162,857

     

    Stock-based compensation

     

    35,710

     

     

     

    25,439

     

     

     

    24,856

     

     

     

    28,890

     

     

     

    36,527

     

     

     

    50,809

     

     

     

    54,254

     

    Non-GAAP R&D operating expenses

     

    75,317

     

     

     

    83,385

     

     

     

    91,370

     

     

     

    98,581

     

     

     

    95,716

     

     

     

    107,420

     

     

     

    108,603

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    GAAP S&M operating expenses

     

    37,230

     

     

     

    46,854

     

     

     

    49,691

     

     

     

    55,963

     

     

     

    68,854

     

     

     

    79,568

     

     

     

    59,978

     

    Stock-based compensation

     

    5,665

     

     

     

    4,340

     

     

     

    4,993

     

     

     

    6,197

     

     

     

    7,763

     

     

     

    9,559

     

     

     

    9,923

     

    Non-GAAP S&M operating expenses

     

    31,565

     

     

     

    42,514

     

     

     

    44,698

     

     

     

    49,766

     

     

     

    61,091

     

     

     

    70,009

     

     

     

    50,055

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    GAAP G&A operating expenses

     

    32,924

     

     

     

    37,180

     

     

     

    53,137

     

     

     

    74,109

     

     

     

    65,284

     

     

     

    63,601

     

     

     

    70,603

     

    Stock-based compensation

     

    10,100

     

     

     

    9,727

     

     

     

    23,037

     

     

     

    36,688

     

     

     

    15,765

     

     

     

    15,060

     

     

     

    13,467

     

    Non-GAAP G&A operating expenses

     

    22,824

     

     

     

    27,453

     

     

     

    30,100

     

     

     

    37,421

     

     

     

    49,519

     

     

     

    48,541

     

     

     

    57,136

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Non-GAAP Operating Expenses

    $

    129,706

     

     

    $

    153,352

     

     

    $

    166,168

     

     

    $

    185,768

     

     

    $

    206,326

     

     

    $

    225,970

     

     

    $

    215,794

     

    SUPER MICRO COMPUTER, INC.

    RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES

    (in thousands, except per share amounts)

    (unaudited)

     

    Reconciliation of GAAP to Non-GAAP Net Income:

     

     

    Q1 2024

     

    Q2 2024

     

    Q3 2024

     

    Q4 2024

     

    Q1 2025

     

    Q2 2025

     

    Q3 2025

    GAAP net income

    $

    156,995

     

     

    $

    295,968

     

     

    $

    402,459

     

     

    $

    297,244

     

     

    $

    424,327

     

     

    $

    320,596

     

     

    $

    108,777

     

    Adjustments related to stock-based compensation:

     

     

     

     

     

     

     

     

     

     

     

     

     

    Cost of sales

     

    5,904

     

     

     

    3,555

     

     

     

    3,221

     

     

     

    3,185

     

     

     

    3,959

     

     

     

    6,694

     

     

     

    7,060

     

    Operating expenses

     

    51,475

     

     

     

    39,506

     

     

     

    52,886

     

     

     

    71,775

     

     

     

    60,055

     

     

     

    75,428

     

     

     

    77,644

     

    Total adjustments to GAAP income from operations

     

    57,379

     

     

     

    43,061

     

     

     

    56,107

     

     

     

    74,960

     

     

     

    64,014

     

     

     

    82,122

     

     

     

    84,704

     

    Adjustments related to loss on extinguishment of convertible notes:

     

     

     

     

     

     

     

     

     

     

     

     

     

    Other expense

     

    —

     

     

     

    —

     

     

     

    —

     

     

     

    —

     

     

     

    —

     

     

     

    —

     

     

     

    30,251

     

    Total adjustments to GAAP Other expense

     

    —

     

     

     

    —

     

     

     

    —

     

     

     

    —

     

     

     

    —

     

     

     

    —

     

     

     

    30,251

     

    Total adjustments to GAAP income before income tax provision

     

    57,379

     

     

     

    43,061

     

     

     

    56,107

     

     

     

    74,960

     

     

     

    64,014

     

     

     

    82,122

     

     

     

    114,955

     

    Income tax effect of non-GAAP adjustments

     

    (16,049

    )

     

     

    (9,569

    )

     

     

    (47,023

    )

     

     

    (20,169

    )

     

     

    (15,873

    )

     

     

    (19,136

    )

     

     

    (29,706

    )

    Non-GAAP net income

    $

    198,325

     

     

    $

    329,460

     

     

    $

    411,543

     

     

    $

    352,035

     

     

    $

    472,468

     

     

    $

    383,582

     

     

    $

    194,026

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    GAAP net income - diluted

    $

    156,995

     

     

    $

    295,968

     

     

    $

    402,844

     

     

    $

    298,339

     

     

    $

    427,076

     

     

    $

    321,706

     

     

    $

    108,777

     

    Convertible note interest charge, net of tax

     

    —

     

     

     

    —

     

     

     

    385

     

     

     

    1,095

     

     

     

    2,749

     

     

     

    1,110

     

     

     

    —

     

    Non-GAAP net income - diluted

    $

    198,325

     

     

    $

    329,460

     

     

    $

    411,928

     

     

    $

    353,130

     

     

    $

    475,217

     

     

    $

    384,692

     

     

    $

    194,026

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Weighted-average shares used in the calculation of net income per common share:

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Basic - GAAP

     

    530,928

     

     

     

    541,354

     

     

     

    564,780

     

     

     

    586,883

     

     

     

    589,558

     

     

     

    592,507

     

     

     

    595,041

     

    Basic - Non-GAAP

     

    530,928

     

     

     

    541,354

     

     

     

    564,780

     

     

     

    586,883

     

     

     

    589,558

     

     

     

    592,507

     

     

     

    595,041

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Diluted - GAAP

     

    571,853

     

     

     

    580,777

     

     

     

    614,310

     

     

     

    642,081

     

     

     

    639,148

     

     

     

    636,047

     

     

     

    621,809

     

    Stock-based compensation

     

    6,607

     

     

     

    8,843

     

     

     

    5,220

     

     

     

    6,186

     

     

     

    8,930

     

     

     

    10,624

     

     

     

    14,108

     

    Diluted - Non-GAAP

     

    578,460

     

     

     

    589,620

     

     

     

    619,530

     

     

     

    648,267

     

     

     

    648,078

     

     

     

    646,671

     

     

     

    635,917

     

    SUPER MICRO COMPUTER, INC.

    RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES

    (in thousands, except per share amounts)

    (unaudited)

     

    Reconciliation of GAAP to Non-GAAP EPS:

     

     

    Q1 2024

     

    Q2 2024

     

    Q3 2024

     

    Q4 2024

     

    Q1 2025

     

    Q2 2025

     

    Q3 2025

    GAAP Net Income per common share - basic

    $

    0.30

     

     

    $

    0.55

     

     

    $

    0.71

     

     

    $

    0.51

     

     

    $

    0.72

     

     

    $

    0.54

     

     

    $

    0.18

     

    Adjustments to GAAP:

     

     

     

     

     

     

     

     

     

     

     

     

     

    Stock-based compensation - basic

     

    0.11

     

     

     

    0.08

     

     

     

    0.10

     

     

     

    0.13

     

     

     

    0.11

     

     

     

    0.14

     

     

     

    0.14

     

    Loss on extinguishment of convertible notes - basic

     

    —

     

     

     

    —

     

     

     

    —

     

     

     

    —

     

     

     

    —

     

     

     

    —

     

     

     

    0.05

     

    Income tax - basic

     

    (0.04

    )

     

     

    (0.02

    )

     

     

    (0.08

    )

     

     

    (0.04

    )

     

     

    (0.03

    )

     

     

    (0.03

    )

     

     

    (0.04

    )

    Non-GAAP Net Income per common share - basic

    $

    0.37

     

     

    $

    0.61

     

     

    $

    0.73

     

     

    $

    0.60

     

     

    $

    0.80

     

     

    $

    0.65

     

     

    $

    0.33

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    GAAP net income per common share - dilutive

    $

    0.27

     

     

    $

    0.51

     

     

    $

    0.66

     

     

    $

    0.46

     

     

    $

    0.67

     

     

    $

    0.51

     

     

    $

    0.17

     

    Adjustments to GAAP:

     

     

     

     

     

     

     

     

     

     

     

     

     

    Stock-based compensation - diluted

     

    0.10

     

     

     

    0.07

     

     

     

    0.09

     

     

     

    0.12

     

     

     

    0.09

     

     

     

    0.12

     

     

     

    0.14

     

    Loss on extinguishment of convertible notes - diluted

     

    —

     

     

     

    —

     

     

     

    —

     

     

     

    —

     

     

     

    —

     

     

     

    —

     

     

     

    0.05

     

    Income tax - diluted

     

    (0.03

    )

     

     

    (0.02

    )

     

     

    (0.09

    )

     

     

    (0.04

    )

     

     

    (0.03

    )

     

     

    (0.04

    )

     

     

    (0.05

    )

    Non-GAAP Net Income per common share – diluted

    $

    0.34

     

     

    $

    0.56

     

     

    $

    0.66

     

     

    $

    0.54

     

     

    $

    0.73

     

     

    $

    0.59

     

     

    $

    0.31

     

    GAAP to Non-GAAP Effective Tax Rate:

     

     

    Q1 2024

     

    Q2 2024

     

    Q3 2024

     

    Q4 2024

     

    Q1 2025

     

    Q2 2025

     

    Q3 2025

    GAAP effective tax rate

    11.4

    %

     

    17.3

    %

     

    (5.2

    )%

     

    0.5

    %

     

    15.0

    %

     

    15.2

    %

     

    5.1

    %

    Total adjustments to GAAP provision to income tax

    4.1

    %

     

    0.5

    %

     

    11.4

    %

     

    5.3

    %

     

    1.1

    %

     

    1.4

    %

     

    10.4

    %

    Non-GAAP effective tax rate

    15.5

    %

     

    17.8

    %

     

    6.2

    %

     

    5.8

    %

     

    16.1

    %

     

    16.6

    %

     

    15.5

    %

     

    View source version on businesswire.com: https://www.businesswire.com/news/home/20250506487683/en/

    Investor Relations Contact:

    Nicole Noutsios

    Stratos Advisors

    email: [email protected]

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    $SMCI
    Large Ownership Changes

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    • SEC Form SC 13G filed by Super Micro Computer Inc.

      SC 13G - Super Micro Computer, Inc. (0001375365) (Subject)

      11/14/24 12:52:53 PM ET
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    • SEC Form SC 13G/A filed by Super Micro Computer Inc. (Amendment)

      SC 13G/A - Super Micro Computer, Inc. (0001375365) (Subject)

      4/10/24 2:03:52 PM ET
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    • SEC Form SC 13G/A filed by Super Micro Computer Inc. (Amendment)

      SC 13G/A - Super Micro Computer, Inc. (0001375365) (Subject)

      2/14/24 4:31:45 PM ET
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    Insider Purchases

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    • Chan Shiu Leung bought $1,136,000 worth of shares (2,000 units at $568.00), increasing direct ownership by 5% to 42,917 units (SEC Form 4)

      4 - Super Micro Computer, Inc. (0001375365) (Issuer)

      2/5/24 4:33:58 PM ET
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    Insider Trading

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    • Liang Charles disposed of 26,877,520 shares and acquired 600,000 shares, decreasing direct ownership by 39% to 40,626,120 units (SEC Form 5)

      5 - Super Micro Computer, Inc. (0001375365) (Issuer)

      7/10/25 5:36:47 PM ET
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    • Liu Liang Chiu-Chu Sara disposed of 26,877,520 shares and acquired 600,000 shares, increasing direct ownership by 22,355% to 602,684 units (SEC Form 5)

      5 - Super Micro Computer, Inc. (0001375365) (Issuer)

      7/10/25 5:34:00 PM ET
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    • Director Liu Liang Chiu-Chu Sara converted options into 1,330 shares and covered exercise/tax liability with 717 shares, increasing direct ownership by 30% to 2,684 units (SEC Form 4)

      4 - Super Micro Computer, Inc. (0001375365) (Issuer)

      7/2/25 9:57:55 PM ET
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    $SMCI
    Press Releases

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    • Digi Power X Reports 45% Month-Over-Month Increase in Cash and Crypto Position with no Long-Term Debt and Reports June 2025 Production Results

      This news release constitutes a "designated news release" for the purposes of the Company's prospectus supplement dated May 30, 2025 to its short form base shelf prospectus dated May 15, 2025 MIAMI, July 01, 2025 (GLOBE NEWSWIRE) -- Digi Power X Inc. ("Digi Power X" or the "Company") (NASDAQ:DGXX, TSXV:DGX), an innovative energy infrastructure company that develops data centers, is pleased to provide unaudited comparative Bitcoin ("BTC") production results for the quarter and month ended June 30, 2025, combined with an operations update. All monetary references are expressed in U.S. dollars unless otherwise indicated. Second Quarter 2025 Production Highlights The value of coins produce

      7/1/25 7:30:00 AM ET
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    • Industry First -- Supermicro Systems Certified by Intel for an Immersion Cooling Solution

      Supermicro's BigTwin® Multi-Node Server with 5th Gen Intel® Xeon® Scalable Processors is now certified by IntelServer system design supports OCP immersion guidelines that enables industry-wide compatibilitySAN JOSE, Calif., June 30, 2025 /PRNewswire/ -- Super Micro Computer, Inc. (SMCI), a Total IT Solution Provider for AI/ML, HPC, Cloud, Storage, and 5G/Edge, is announcing an industry immersion cooling certification for Supermicro's BigTwin Server with 4th and 5th Gen Intel Xeon Scalable Processors from Intel. With rigorous testing, the Supermicro server, in combination with a defined liquid and immersion tank, is quality/performance tested and is now recognized as a certified immersion ser

      6/30/25 4:05:00 PM ET
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      Computer Manufacturing
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    • Super Micro Computer, Inc. Announces Closing of Private Offering of $2.3 Billion of Convertible Senior Notes Due 2030

      Enables Continued Expansion of the AI Infrastructure Business The Funding will Support Continued Expansion of US and Global Manufacturing, Expansion of Supermicro's Product Line from Systems, Racks to Complete Data Center Building Block Solutions and Support Capital Required for Customer Growth Super Micro Computer, Inc. (NASDAQ:SMCI) ("Supermicro" or the "Company"), a Total IT Solution Manufacturer for AI, Cloud, Storage, and 5G/Edge, today announced the closing of $2.3 billion aggregate principal amount of convertible senior notes due 2030 (the "notes") including the exercise in full of the option granted to the initial purchasers to purchase up to $300.0 million aggregate principal a

      6/26/25 7:07:00 PM ET
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    $SMCI
    Leadership Updates

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    • Supermicro Appoints New Independent Director and General Counsel

      Industry veteran with deep financial background Scott Angel joins Board Seasoned legal expert Yitai Hu promoted to General Counsel Super Micro Computer, Inc. (NASDAQ:SMCI) ("Supermicro" or the "Company"), a Total IT Solution Provider for AI, Cloud, Storage, and 5G/Edge, today announced enhancements to its Board of Directors and senior leadership team to support the continued execution of its growth strategy, with the appointments of: Scott Angel as a new independent director: Mr. Angel, who brings nearly four decades of experience in accounting, audit, consulting, and financial advisory, has deep expertise in the technology and semiconductor industries with a focus on risk and complianc

      3/31/25 9:05:00 AM ET
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      Computer Manufacturing
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    • Supermicro Announces Completion of Review by Independent Special Committee

      Special Committee, supported by outside counsel Cooley LLP and forensic accounting firm Secretariat Advisors, LLC, finds no evidence of misconduct on the part of management or the Board of Directors and that the Audit Committee acted independently No restatement of reported financials expected Board adopts recommendations of the Special Committee and appoints new Chief Accounting Officer, approves the transition to a new CFO and authorizes additional executive hires, along with other measures to strengthen the Company Super Micro Computer, Inc. (NASDAQ:SMCI) (the "Company"), a Total IT Solution Provider for AI, Cloud, Storage, and 5G/Edge, today announced that the independent Special

      12/2/24 9:05:00 AM ET
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    • Supermicro Announces Appointment of BDO USA as Independent Auditor and Filing of Compliance Plan with Nasdaq

      Super Micro Computer, Inc. (NASDAQ:SMCI), a Total IT Solution Provider for AI, Cloud, Storage, and 5G/Edge, announced today that the Audit Committee of its Board of Directors has engaged BDO USA, P.C. ("BDO") as its independent auditor, effective immediately. BDO is a member firm of BDO International, one of the world's top five accounting firms network with over 115,000 professionals across its global network and a recognized leader in audit and assurance. "We are pleased to welcome BDO as Supermicro's independent auditor," said Charles Liang, President and CEO of Supermicro. "BDO is a highly respected accounting firm with global capabilities. This is an important next step to bring our

      11/18/24 5:00:00 PM ET
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    Financials

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    • Supermicro Announces Third Quarter Fiscal Year 2025 Financial Results

      Super Micro Computer, Inc. (NASDAQ:SMCI) ("Supermicro" or the "Company"), a Total IT Solution Provider for AI, Cloud, Storage, and 5G/Edge, today announced unaudited financial results for its third quarter of fiscal year 2025 ended March 31, 2025. Third Quarter Fiscal Year 2025 Highlights Net sales of $4.60 billion versus $5.68 billion in Q2'25 and $3.85 billion in Q3'24. Gross margin of 9.6% versus 11.8% in Q2'25 and 15.5% in Q3'24. Net income of $109 million versus $321 million in Q2'25 and $402 million in Q3'24. Diluted net income per common share of $0.17 versus $0.51 in Q2'25 and $0.66 in Q3'24. Non-GAAP diluted net income per common share of $0.31 versus $0.59 in Q2'25

      5/6/25 4:05:00 PM ET
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    • Supermicro Provides Third Quarter Fiscal 2025 Business Update and Preliminary Financial Results

      Super Micro Computer Inc. (NASDAQ:SMCI), a Total IT Solution Provider for AI/ML, HPC, Cloud, Storage, and 5G/Edge, today announced a business update and unaudited preliminary financial results for the third quarter (Q3) of fiscal year 2025 ended March 31, 2025. New generation product design wins are robust During Q3 some delayed customer platform decisions moved sales into Q4 The GAAP and Non-GAAP gross margin for Q3 was 220 basis points lower than Q2 primarily due to higher inventory reserves resulting from older generation products and expedite costs to enable time-to-market for new products   Expected Range Prior Guidance Net Sales $4.5B to $4.6B $5.0B to $6.

      4/29/25 4:28:00 PM ET
      $SMCI
      Computer Manufacturing
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    • Supermicro Announces Second Quarter Fiscal Year 2025 Preliminary Financial Information

      Super Micro Computer, Inc. (NASDAQ:SMCI) ("Supermicro" or the "Company"), a Total IT Solution Provider for AI, Cloud, Storage, and 5G/Edge, today announced preliminary financial information for its second quarter of fiscal year 2025 ended December 31, 2024. Preliminary Second Quarter Fiscal Year 2025 Highlights The Company expects to report the following financial information for the quarter ended December 31, 2024: Net sales in the range of $5.6 billion to $5.7 billion, reflecting 54% year-over-year growth at the midpoint GAAP and non-GAAP gross margin in the range of 11.8% to 11.9% GAAP diluted net income per common share in the range of $0.50 to $0.52, flat year-over-year

      2/11/25 4:05:00 PM ET
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