Super Micro Computer Inc SMCI is trading 6.6% higher in pre-market on Wednesday as it announced yesterday that it would meet the SEC filing deadline to avoid delisting.
What Happened: SMCI anticipates submitting its delayed annual and quarterly reports to the U.S. Securities and Exchange Commission by the Nasdaq’s Feb. 25 deadline. The Dell DELL rival had postponed these filings following accusations of accounting violations by short-selling firm Hindenburg Research.
SMCI also reported preliminary second-quarter earnings that trailed Wall Street's expectations, leading to a 19% decline in its shares after the market closed yesterday. However, the stock quickly rebounded, showing a 3% increase late Tuesday.
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Why It Matters: Despite the accounting accusations and regulatory investigations, SMCI’s second-quarter revenue witnessed a 54% rise from the past year. They also presented an aspirational growth plan, forecasting $40 billion in revenue for the fiscal year 2026. CEO Charles Liang described this target as a "conservative estimation."
Super Micro’s announcement comes after a tumultuous year marked by controversies and an investigation into its accounting practices. The company’s delayed SEC filings risked a Nasdaq delisting, and its accountant resigned. Despite these challenges, Super Micro has hired a new accountant and maintains that no indication of wrongdoing was found in an independent review.
Robust revenue growth, fueled by the company’s strategic position in the AI sector, has contributed to the recovery in its share price.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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