Super Micro Reports Preliminary Q2 Earnings, Company Expects To File Delayed Reports In Coming Weeks

Super Micro Computer Inc SMCI reported preliminary second-quarter financial results after the market close on Tuesday. Here’s a look at the key metrics the company expects to report from the quarter.

Q1 Earnings: Super Micro expects to report second-quarter revenue of $5.6 billion to $5.7 billion, according to Benzinga Pro. The company expects to report second-quarter adjusted earnings of 58 cents to 60 cents per share.

The company also expects to end Q2 with $1.4 billion of cash/cash equivalents, plus $1.9 billion of total debt.

“With our leading direct-liquid cooling (DLC) technology and over 30% of new data centers expected to adopt it in the next 12 months, Supermicro is well positioned to grow AI infrastructure designs wins based on NVIDIA Blackwell and more,” said Charles Liang, founder, president and CEO of Super Micro.

“Combined with exceptional product quality, service, software, networking, and security with data center building blocks, Supermicro will expand our leadership as the premier US-based data center infrastructure solution provider.”

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Outlook: Super Micro expects third-quarter revenue to be in the range of $5 billion to $6 billion. The company anticipates third-quarter adjusted earnings of 46 cents to 62 cents per share.

Super Micro also cut its full-year guidance. The San Jose, California-based company now expects full-year revenue to be in the range of $23.5 billion to $25 billion. That’s down from prior guidance of $26 billion to $30 billion.

What Else: Super Micro announced it entered into privately negotiated agreements with holders of its existing 0.00% Convertible Senior Notes due 2029 to purchase $700 million of its newly issued 2.25% Convertible Senior Notes due 2028.

“In late 2024, the Company received subpoenas from the Department of Justice and the Securities and Exchange Commission seeking certain documents following the publication of allegations in a short seller report which was published in August 2024,” the company said in the earnings release.

“The Company is cooperating with these document requests. In addition, in connection with the delay in filing the periodic reports, several securities litigation complaints and derivative suits were filed against the Company. Management believes these complaints are without merit.”

Super Micro's independent auditor Ernst & Young resigned in October over governance and transparency concerns. An independent Special Committee found no evidence of fraud or misconduct on the part of management or the company’s board. Super Micro has until Feb. 25 to file its report.

The company announced Tuesday that it continues to work diligently toward the filing of its delayed reports. Super Micro expects to file the delayed reports, as well as Tuesday’s report, before the deadline.

Management will further discuss the quarter on a conference call with investors and analysts at 5 p.m. ET.

SMCI Price Action: Super Micro shares were down 3.47% after hours, trading at $37.09 at the time of publication Tuesday, according to Benzinga Pro.

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