Supermicro Announces Fourth Quarter and Full Fiscal Year 2024 Financial Results
Supermicro (NASDAQ: SMCI) reported strong financial results for Q4 and full fiscal year 2024. Q4 highlights include:
- Net sales of $5.31 billion, up from $3.85 billion in Q3 and $2.18 billion year-over-year
- Gross margin of 11.2%, down from 15.5% in Q3 and 17.0% year-over-year
- Net income of $353 million, down from $402 million in Q3 but up from $194 million year-over-year
- Diluted EPS of $5.51, down from $6.56 in Q3 but up from $3.43 year-over-year
For fiscal year 2024, net sales reached $14.94 billion, a 110% increase year-over-year. The company announced a 10-for-1 stock split effective October 1, 2024. Supermicro expects Q1 FY2025 net sales between $6.0-$7.0 billion and projects FY2025 net sales of $26.0-$30.0 billion.
Supermicro (NASDAQ: SMCI) ha riportato risultati finanziari solidi per il Q4 e l'intero anno fiscale 2024. I punti salienti del Q4 includono:
- Vendite nette di $5,31 miliardi, in aumento rispetto ai $3,85 miliardi del Q3 e ai $2,18 miliardi su base annua
- Margine lordo dell'11,2%, in diminuzione rispetto al 15,5% del Q3 e al 17,0% su base annua
- Utile netto di $353 milioni, in calo dai $402 milioni del Q3 ma in aumento rispetto ai $194 milioni su base annua
- EPS diluito di $5,51, in calo rispetto ai $6,56 del Q3 ma in aumento rispetto ai $3,43 su base annua
Per l'anno fiscale 2024, le vendite nette hanno raggiunto $14,94 miliardi, con un aumento del 110% su base annua. L'azienda ha annunciato uno scorporo azionario di 10 per 1, efficace dal 1 ottobre 2024. Supermicro prevede vendite nette tra $6,0-$7,0 miliardi per il Q1 FY2025 e proietta vendite nette di FY2025 tra $26,0-$30,0 miliardi.
Supermicro (NASDAQ: SMCI) reportó resultados financieros sólidos para el cuarto trimestre y el año fiscal completo 2024. Los aspectos destacados del cuarto trimestre incluyen:
- Ventas netas de $5.31 mil millones, un aumento desde los $3.85 mil millones en el tercer trimestre y $2.18 mil millones en comparación interanual
- Margen bruto del 11.2%, por debajo del 15.5% en el tercer trimestre y del 17.0% interanual
- Ingreso neto de $353 millones, disminuyendo desde $402 millones en el tercer trimestre pero aumentando desde $194 millones interanualmente
- EPS diluido de $5.51, disminuyendo desde $6.56 en el tercer trimestre pero aumentando desde $3.43 interanualmente
Para el año fiscal 2024, las ventas netas alcanzaron $14.94 mil millones, un aumento del 110% en comparación interanual. La empresa anunció un desdoblamiento de acciones de 10 por 1, efectivo el 1 de octubre de 2024. Supermicro espera ventas netas de entre $6.0 y $7.0 mil millones para el primer trimestre del FY2025 y proyecta ventas netas de FY2025 de entre $26.0 y $30.0 mil millones.
슈퍼마이크로 (NASDAQ: SMCI)는 2024 회계연도 4분기 및 전체 회계연도에 대한 강력한 재무 성과를 보고했습니다. 4분기 주요 사항은 다음과 같습니다:
- 순매출 약 $53억 1000만 달러로, 3분기의 38억 5000만 달러 및 전년 대비 21억 8000만 달러에서 증가
- 총 이익률 11.2%, 3분기의 15.5% 및 전년 대비 17.0%에서 감소
- 순이익 $3억 5300만 달러로, 3분기의 4억 2000만 달러에서 감소하였으나 전년 대비 1억 9400만 달러에서 증가
- 희석 EPS가 $5.51로, 3분기의 $6.56에서 감소하였으나 전년 대비 $3.43에서 증가
2024 회계연도 동안 순매출은 $149억 4000만 달러로, 전년 대비 110% 증가했습니다. 회사는 2024년 10월 1일부터 시행되는 10대 1의 주식 분할을 발표했습니다. 슈퍼마이크로는 FY2025 1분기 순매출을 $60억-$70억 달러로 예상하며, FY2025 순매출을 $260억-$300억 달러로 전망하고 있습니다.
Supermicro (NASDAQ: SMCI) a annoncé des résultats financiers solides pour le quatrième trimestre et pour l'ensemble de l'exercice 2024. Les faits marquants du quatrième trimestre incluent :
- Chiffre d'affaires net de 5,31 milliards de dollars, en hausse par rapport à 3,85 milliards de dollars au troisième trimestre et 2,18 milliards de dollars d'une année sur l'autre
- Marge brute de 11,2 %, en baisse par rapport à 15,5 % au troisième trimestre et 17,0 % d'une année sur l'autre
- Résultat net de 353 millions de dollars, en baisse par rapport à 402 millions de dollars au troisième trimestre mais en hausse par rapport à 194 millions de dollars d'une année sur l'autre
- BPA dilué de 5,51 dollars, en baisse par rapport à 6,56 dollars au troisième trimestre mais en hausse par rapport à 3,43 dollars d'une année sur l'autre
Pour l'exercice 2024, le chiffre d'affaires net a atteint 14,94 milliards de dollars, une augmentation de 110 % d'une année sur l'autre. L'entreprise a annoncé un fractionnement d'actions de 10 pour 1, prenant effet le 1er octobre 2024. Supermicro prévoit un chiffre d'affaires net compris entre 6,0 et 7,0 milliards de dollars pour le premier trimestre de l'exercice 2025 et prévoit un chiffre d'affaires net de 26,0 à 30,0 milliards de dollars pour l'exercice 2025.
Supermicro (NASDAQ: SMCI) hat starke Finanzresultate für das vierte Quartal und das gesamte Geschäftsjahr 2024 bekannt gegeben. Die Höhepunkte des vierten Quartals sind:
- Nettoumsatz von 5,31 Milliarden Dollar, ein Anstieg von 3,85 Milliarden Dollar im dritten Quartal und 2,18 Milliarden Dollar im Jahresvergleich
- Bruttomarge von 11,2 %, ein Rückgang von 15,5 % im dritten Quartal und 17,0 % im Jahresvergleich
- Nettogewinn von 353 Millionen Dollar, ein Rückgang von 402 Millionen Dollar im dritten Quartal, jedoch ein Anstieg von 194 Millionen Dollar im Jahresvergleich
- Verwässerter EPS von 5,51 Dollar, ein Rückgang von 6,56 Dollar im dritten Quartal, aber eine Steigerung gegenüber 3,43 Dollar im Jahresvergleich
Für das Geschäftsjahr 2024 erreichte der Nettoumsatz 14,94 Milliarden Dollar, was einem Anstieg von 110 % im Jahresvergleich entspricht. Das Unternehmen kündigte einen Aktiensplit im Verhältnis 10 zu 1 an, der am 1. Oktober 2024 wirksam wird. Supermicro erwartet für das erste Quartal FY2025 einen Nettoumsatz zwischen 6,0 und 7,0 Milliarden Dollar und prognostiziert für das Geschäftsjahr 2025 einen Nettoumsatz zwischen 26,0 und 30,0 Milliarden Dollar.
- Record Q4 net sales of $5.31 billion, a 143% increase year-over-year
- Fiscal year 2024 net sales reached $14.94 billion, up 110% year-over-year
- Net income for fiscal year 2024 was $1.21 billion, nearly doubling from $640 million in FY2023
- Strong Q1 FY2025 guidance with projected net sales of $6.0-$7.0 billion
- Ambitious FY2025 outlook with expected net sales of $26.0-$30.0 billion
- Q4 gross margin decreased to 11.2% from 15.5% in Q3 and 17.0% year-over-year
- Q4 net income of $353 million decreased from $402 million in Q3
- Q4 diluted EPS of $5.51 decreased from $6.56 in Q3
- Cash flow used in operations for Q4 was $635 million
Insights
Supermicro's Q4 FY2024 results showcase impressive growth but with some concerning trends. Revenue surged to
The full-year performance is stellar, with revenue up
Investors should monitor the balance sheet closely, as cash flow from operations was negative
Supermicro's explosive growth underscores the booming AI infrastructure market. Their focus on rack-scale DLC liquid cooling and Datacenter Building Block Solutions positions them well in the high-performance computing space. The planned 10-for-1 stock split could improve liquidity and accessibility for retail investors.
However, the declining gross margins are a red flag. This could be due to increased competition, component shortages, or aggressive pricing to gain market share. The company's ability to maintain profitability while scaling will be crucial.
The expansion in Malaysia is a strategic move to diversify the supply chain and potentially reduce costs. This, coupled with Silicon Valley expansions, shows Supermicro's commitment to meeting the surging demand and improving operational efficiency.
Supermicro's results reflect the broader AI infrastructure boom. The company's
The forward guidance of
However, investors should be cautious about potential market saturation or a slowdown in AI investments. The declining gross margins and negative cash flow from operations could also indicate challenges in managing this rapid growth efficiently. Monitoring competitor actions and overall market demand will be important in the coming quarters.
Fourth Quarter of Fiscal Year 2024 Highlights
-
Net sales of
versus$5.31 billion in the third quarter of fiscal year 2024 and$3.85 billion in the same quarter of last year.$2.18 billion
-
Gross margin of
11.2% versus15.5% in the third quarter of fiscal year 2024 and17.0% in the same quarter of last year.
-
Net income of
versus$353 million in the third quarter of fiscal year 2024 and$402 million in the same quarter of last year.$194 million
-
Diluted net income per common share of
versus$5.51 in the third quarter of fiscal year 2024 and$6.56 in the same quarter of last year.$3.43
-
Non-GAAP diluted net income per common share of
versus$6.25 in the third quarter of fiscal year 2024 and$6.65 in the same quarter of last year.$3.51
-
Cash flow used in operations for the fourth quarter of fiscal year 2024 of
and capital expenditures of$635 million .$27 million
- The Company’s Board of Directors has authorized a 10-for-1 forward split of its common stock and we expect trading to commence on a split-adjusted basis on October 1, 2024.
Non-GAAP gross margin for the fourth quarter of fiscal year 2024 was
As of June 30, 2024, total cash and cash equivalents was
“Supermicro continues to experience record demand of new AI infrastructures propelling fiscal 2024 revenue up
Fiscal Year 2024 Summary
Net sales for the fiscal year ended June 30, 2024, were
Business Outlook and Management Commentary
For the first quarter of fiscal year 2025 ending September 30, 2024, the Company expects net sales of
For fiscal year 2025 ending June 30, 2025, the Company expects net sales of
Conference Call and Webcast Information
Supermicro will present a live audio webcast of a conference call to review its fourth quarter of fiscal year 2024 on Tuesday, August 6, 2024, 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. Such forward looking statements may relate to, among other things, the first quarter of fiscal year 2025 and full year fiscal 2025 guidance, the ability to continue to see record demand for new AI infrastructure, the ability to become a dominant IT infrastructure Company, and the ability of investments in certain expansions to strengthen the supply chain, security, and economies of scale for growth. 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, which could cause rapid declines in our stock price, (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) if we fail to meet publicly announced financial guidance or other expectations about our business, our stock could decline in value, (iv) 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 may harm our business. Additional factors that could cause actual results to differ materially from those projected or suggested in any forward looking statements are contained 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, 2023, and Quarterly Reports on Form 10-Q filed thereafter.
Use of Non-GAAP Financial Measures
Non-GAAP gross margin discussed in this press release adds back stock-based compensation expenses. Non-GAAP diluted net income per common share discussed in this press release adds back stock-based compensation expenses and litigation expense recovery adjusted for the related tax effects. Management presents non-GAAP financial measures because it considers them to be important supplemental measures of performance. Management uses the non-GAAP financial measures for planning purposes, including analysis of the Company's performance against prior periods, the preparation of operating budgets and to determine appropriate levels of operating and capital investments. Management also believes that the non-GAAP financial measures provide additional insight for analysts and investors in evaluating the Company's financial and operational performance. However, these non-GAAP financial measures have limitations as an analytical tool and are not intended to be an alternative to financial measures prepared in accordance with GAAP. A reconciliation of GAAP gross margin to non-GAAP gross margin and from GAAP diluted net income per common share to non-GAAP diluted net income per common share is included in the tables below.
About Super Micro Computer, Inc.
Supermicro (NASDAQ: SMCI) is a global leader in Application-Optimized Total IT Solutions. Founded and operating in
Supermicro, Server Building Block Solutions, and We Keep IT Green are trademarks and/or registered trademarks of Super Micro Computer, Inc.
SUPER MICRO COMPUTER, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (in thousands) (unaudited) |
|||||
|
June 30, |
|
June 30, |
||
|
2024 |
|
2023 |
||
ASSETS |
|
|
|
||
Current assets: |
|
|
|
||
Cash and cash equivalents |
$ |
1,669,766 |
|
$ |
440,459 |
Accounts receivable, net of allowance for credit losses |
|
2,668,415 |
|
|
1,148,259 |
Inventories |
|
4,407,972 |
|
|
1,445,564 |
Prepaid expenses and other current assets |
|
308,471 |
|
|
145,144 |
Total current assets |
|
9,054,624 |
|
|
3,179,426 |
Property, plant and equipment, net |
|
414,008 |
|
|
290,240 |
Deferred income taxes, net |
|
359,656 |
|
|
162,654 |
Other assets |
|
114,952 |
|
|
42,409 |
Total assets |
$ |
9,943,240 |
|
$ |
3,674,729 |
LIABILITIES AND STOCKHOLDERS’ EQUITY |
|
|
|
||
Current liabilities: |
|
|
|
||
Accounts payable |
$ |
1,545,050 |
|
$ |
776,831 |
Accrued liabilities |
|
237,921 |
|
|
163,865 |
Income taxes payable |
|
18,268 |
|
|
129,166 |
Lines of credit and current portion of term loans |
|
402,346 |
|
|
170,123 |
Deferred revenue |
|
200,360 |
|
|
134,667 |
Total current liabilities |
|
2,403,945 |
|
|
1,374,652 |
Deferred revenue, non-current |
|
226,493 |
|
|
169,781 |
Term loans |
|
74,083 |
|
|
120,179 |
Convertible notes |
|
1,697,716 |
|
|
— |
Other long-term liabilities |
|
71,343 |
|
|
37,947 |
Total liabilities |
|
4,473,580 |
|
|
1,702,559 |
Stockholders’ equity: |
|
|
|
||
Common stock and additional paid in capital |
|
2,827,627 |
|
|
538,352 |
Accumulated other comprehensive income |
|
706 |
|
|
639 |
Retained earnings |
|
2,641,163 |
|
|
1,433,014 |
Total Super Micro Computer, Inc. stockholders’ equity |
|
5,469,496 |
|
|
1,972,005 |
Noncontrolling interest |
|
164 |
|
|
165 |
Total stockholders’ equity |
|
5,469,660 |
|
|
1,972,170 |
Total liabilities and stockholders’ equity |
$ |
9,943,240 |
|
$ |
3,674,729 |
SUPER MICRO COMPUTER, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (in thousands, except per share amounts) (unaudited) |
|||||||||||||||
|
Three Months Ended June 30, |
|
Years Ended June 30, |
||||||||||||
|
|
2024 |
|
|
|
2023 |
|
|
|
2024 |
|
|
|
2023 |
|
Net sales |
$ |
5,308,192 |
|
|
$ |
2,184,861 |
|
|
$ |
14,942,854 |
|
|
$ |
7,123,482 |
|
Cost of sales |
|
4,711,844 |
|
|
|
1,813,165 |
|
|
|
12,831,125 |
|
|
|
5,840,470 |
|
Gross profit |
|
596,348 |
|
|
|
371,696 |
|
|
|
2,111,729 |
|
|
|
1,283,012 |
|
Operating expenses: |
|
|
|
|
|
|
|
||||||||
Research and development |
|
126,849 |
|
|
|
84,802 |
|
|
|
462,926 |
|
|
|
307,260 |
|
Sales and marketing |
|
55,740 |
|
|
|
31,905 |
|
|
|
189,515 |
|
|
|
115,025 |
|
General and administrative |
|
70,355 |
|
|
|
28,234 |
|
|
|
193,596 |
|
|
|
99,585 |
|
Total operating expenses |
|
252,944 |
|
|
|
144,941 |
|
|
|
846,037 |
|
|
|
521,870 |
|
Income from operations |
|
343,404 |
|
|
|
226,755 |
|
|
|
1,265,692 |
|
|
|
761,142 |
|
Other income, net |
|
13,955 |
|
|
|
2,005 |
|
|
|
22,717 |
|
|
|
3,646 |
|
Interest expense |
|
(3,112 |
) |
|
|
(3,509 |
) |
|
|
(19,352 |
) |
|
|
(10,491 |
) |
Income before income tax provision |
|
354,247 |
|
|
|
225,251 |
|
|
|
1,269,057 |
|
|
|
754,297 |
|
Income tax provision |
|
(994 |
) |
|
|
(31,302 |
) |
|
|
(62,729 |
) |
|
|
(110,666 |
) |
Share of (loss) income from equity investee, net of taxes |
|
(526 |
) |
|
|
(380 |
) |
|
|
1,821 |
|
|
|
(3,633 |
) |
Net income(1) |
$ |
352,727 |
|
|
$ |
193,569 |
|
|
$ |
1,208,149 |
|
|
$ |
639,998 |
|
Net income per common share: |
|
|
|
|
|
|
|
||||||||
Basic |
$ |
6.01 |
|
|
$ |
3.67 |
|
|
$ |
21.73 |
|
|
$ |
12.09 |
|
Diluted |
$ |
5.51 |
|
|
$ |
3.43 |
|
|
$ |
20.09 |
|
|
$ |
11.43 |
|
Weighted-average shares used in calculation of net income per common share: |
|
|
|
|
|
|
|
||||||||
Basic |
|
58,688 |
|
|
|
52,679 |
|
|
|
55,588 |
|
|
|
52,925 |
|
Diluted |
|
64,208 |
|
|
|
56,505 |
|
|
|
60,215 |
|
|
|
55,970 |
|
(1) Net income for diluted net income per share calculation includes the add-backs of convertible notes interest charge, net of tax of |
SUPER MICRO COMPUTER, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (in thousands, except per share amounts) (unaudited) |
|||||||||||
Stock-based compensation is included in the following cost and expense categories by period (in thousands): |
|||||||||||
|
Three Months Ended June 30, |
|
Years Ended June 30, |
||||||||
|
|
2024 |
|
|
2023 |
|
|
2024 |
|
|
2023 |
Cost of sales |
$ |
3,185 |
|
$ |
989 |
|
$ |
15,865 |
|
$ |
4,574 |
Research and development |
|
28,890 |
|
|
7,187 |
|
|
114,895 |
|
|
30,736 |
Sales and marketing |
|
6,197 |
|
|
1,128 |
|
|
21,195 |
|
|
4,599 |
General and administrative |
|
33,380 |
|
|
3,482 |
|
|
76,244 |
|
|
14,524 |
Stock-based compensation expense |
$ |
71,652 |
|
$ |
12,786 |
|
$ |
228,199 |
|
$ |
54,433 |
SUPER MICRO COMPUTER, INC. SELECTED CASH FLOW INFORMATION (in thousands) (unaudited) |
|||||||
|
Years Ended June 30, |
||||||
|
|
2024 |
|
|
|
2023 |
|
Net cash (used in) provided by operating activities |
$ |
(2,479,437 |
) |
|
$ |
663,580 |
|
Net cash used in investing activities |
|
(200,783 |
) |
|
|
(39,486 |
) |
Net cash provided by (used in) financing activities |
|
3,911,724 |
|
|
|
(448,293 |
) |
Effect of exchange rate fluctuations on cash |
|
(2,191 |
) |
|
|
(3,400 |
) |
Net increase in cash, cash equivalents and restricted cash |
|
1,229,313 |
|
|
|
172,401 |
|
Cash, cash equivalents and restricted cash at the beginning of the year |
|
440,960 |
|
|
|
268,559 |
|
Cash, cash equivalents and restricted cash at the end of the year |
$ |
1,670,273 |
|
|
$ |
440,960 |
|
SUPER MICRO COMPUTER, INC. RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES (in thousands, except per share amounts) (unaudited) |
|||||||||||||||
|
Three Months Ended June 30, |
|
Twelve Months Ended June 30, |
||||||||||||
|
|
2024 |
|
|
|
2023 |
|
|
|
2024 |
|
|
|
2023 |
|
GAAP GROSS PROFIT |
$ |
596,348 |
|
|
$ |
371,696 |
|
|
$ |
2,111,729 |
|
|
$ |
1,283,012 |
|
Stock-based compensation |
|
3,185 |
|
|
|
989 |
|
|
|
15,865 |
|
|
|
4,574 |
|
NON-GAAP GROSS PROFIT |
$ |
599,533 |
|
|
$ |
372,685 |
|
|
$ |
2,127,594 |
|
|
$ |
1,287,586 |
|
|
|
|
|
|
|
|
|
||||||||
GAAP GROSS MARGIN |
|
11.2 |
% |
|
|
17.0 |
% |
|
|
14.1 |
% |
|
|
18.0 |
% |
Stock-based compensation |
|
0.1 |
% |
|
|
0.1 |
% |
|
|
0.1 |
% |
|
|
0.1 |
% |
NON-GAAP GROSS MARGIN |
|
11.3 |
% |
|
|
17.1 |
% |
|
|
14.2 |
% |
|
|
18.1 |
% |
|
|
|
|
|
|
|
|
||||||||
GAAP OPERATING EXPENSES |
$ |
252,944 |
|
|
$ |
144,941 |
|
|
$ |
846,037 |
|
|
$ |
521,870 |
|
Stock-based compensation |
|
(68,467 |
) |
|
|
(11,797 |
) |
|
|
(212,334 |
) |
|
|
(49,859 |
) |
Litigation expense recovery |
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
3,770 |
|
NON-GAAP OPERATING EXPENSES |
$ |
184,477 |
|
|
$ |
133,144 |
|
|
$ |
633,703 |
|
|
$ |
475,781 |
|
|
|
|
|
|
|
|
|
||||||||
GAAP INCOME FROM OPERATIONS |
$ |
343,404 |
|
|
$ |
226,755 |
|
|
$ |
1,265,692 |
|
|
$ |
761,142 |
|
Stock-based compensation |
|
71,652 |
|
|
|
12,786 |
|
|
|
228,199 |
|
|
|
54,433 |
|
Litigation expense recovery |
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(3,770 |
) |
NON-GAAP INCOME FROM OPERATIONS |
$ |
415,056 |
|
|
$ |
239,541 |
|
|
$ |
1,493,891 |
|
|
$ |
811,805 |
|
|
|
|
|
|
|
|
|
||||||||
GAAP OPERATING MARGIN |
|
6.5 |
% |
|
|
10.4 |
% |
|
|
8.5 |
% |
|
|
10.7 |
% |
Stock-based compensation |
|
1.3 |
% |
|
|
0.6 |
% |
|
|
1.5 |
% |
|
|
0.8 |
% |
Litigation expense recovery |
|
— |
% |
|
|
— |
% |
|
|
— |
% |
|
|
(0.1 |
)% |
NON-GAAP OPERATING MARGIN |
|
7.8 |
% |
|
|
11.0 |
% |
|
|
10.0 |
% |
|
|
11.4 |
% |
|
|
|
|
|
|
|
|
||||||||
GAAP TAX EXPENSE |
$ |
994 |
|
|
$ |
31,302 |
|
|
$ |
62,729 |
|
|
$ |
110,666 |
|
Adjustments to tax provision |
|
20,167 |
|
|
|
5,304 |
|
|
|
92,808 |
|
|
|
17,267 |
|
NON-GAAP TAX EXPENSE |
$ |
21,161 |
|
|
$ |
36,606 |
|
|
$ |
155,537 |
|
|
$ |
127,933 |
|
|
|
|
|
|
|
|
|
||||||||
GAAP NET INCOME |
$ |
352,727 |
|
|
$ |
193,569 |
|
|
$ |
1,208,149 |
|
|
$ |
639,998 |
|
Stock-based compensation |
|
71,652 |
|
|
|
12,786 |
|
|
|
228,199 |
|
|
|
54,433 |
|
Litigation expense recovery |
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(3,770 |
) |
Adjustments to tax provision |
|
(20,167 |
) |
|
|
(5,304 |
) |
|
|
(92,808 |
) |
|
|
(17,267 |
) |
NON-GAAP NET INCOME |
$ |
404,212 |
|
|
$ |
201,051 |
|
|
$ |
1,343,540 |
|
|
$ |
673,394 |
|
|
|
|
|
|
|
|
|
||||||||
GAAP NET INCOME - BASIC |
$ |
352,727 |
|
|
$ |
193,569 |
|
|
$ |
1,208,149 |
|
|
$ |
639,998 |
|
Convertible notes interest charge, net of tax |
|
1,095 |
|
|
|
— |
|
|
|
1,480 |
|
|
|
— |
|
GAAP NET INCOME - DILUTED |
$ |
353,822 |
|
|
$ |
193,569 |
|
|
$ |
1,209,629 |
|
|
$ |
639,998 |
|
|
|
|
|
|
|
|
|
||||||||
NON-GAAP NET INCOME - BASIC |
$ |
404,212 |
|
|
$ |
201,051 |
|
|
$ |
1,343,540 |
|
|
$ |
673,394 |
|
Convertible notes interest charge, net of tax |
|
1,095 |
|
|
|
— |
|
|
|
1,480 |
|
|
|
— |
|
NON-GAAP NET INCOME - DILUTED |
$ |
405,307 |
|
|
$ |
201,051 |
|
|
$ |
1,345,020 |
|
|
$ |
673,394 |
|
|
|
|
|
|
|
|
|
||||||||
GAAP NET INCOME PER COMMON SHARE – BASIC |
$ |
6.01 |
|
|
$ |
3.67 |
|
|
$ |
21.73 |
|
|
$ |
12.09 |
|
Impact of NON-GAAP adjustments |
|
0.88 |
|
|
|
0.15 |
|
|
|
2.44 |
|
|
|
0.63 |
|
NON-GAAP NET INCOME PER COMMON SHARE – BASIC |
$ |
6.89 |
|
|
$ |
3.82 |
|
|
$ |
24.17 |
|
|
$ |
12.72 |
|
|
|
|
|
|
|
|
|
||||||||
GAAP NET INCOME PER COMMON SHARE – DILUTED |
$ |
5.51 |
|
|
$ |
3.43 |
|
|
$ |
20.09 |
|
|
$ |
11.43 |
|
Impact of Non-GAAP adjustments |
|
0.74 |
|
|
|
0.08 |
|
|
|
2.00 |
|
|
|
0.38 |
|
NON-GAAP NET INCOME PER COMMON SHARE – DILUTED |
$ |
6.25 |
|
|
$ |
3.51 |
|
|
$ |
22.09 |
|
|
$ |
11.81 |
|
|
|
|
|
|
|
|
|
||||||||
WEIGHTED-AVERAGE SHARES USED IN COMPUTING NET INCOME PER COMMON SHARE |
|
|
|
|
|
|
|
||||||||
|
|
|
|
|
|
|
|
||||||||
BASIC – GAAP |
|
58,688 |
|
|
|
52,679 |
|
|
|
55,588 |
|
|
|
52,925 |
|
BASIC – NON-GAAP |
|
58,688 |
|
|
|
52,679 |
|
|
|
55,588 |
|
|
|
52,925 |
|
|
|
|
|
|
|
|
|
||||||||
DILUTED – GAAP |
|
64,208 |
|
|
|
56,505 |
|
|
|
60,215 |
|
|
|
55,970 |
|
DILUTED – NON-GAAP |
|
64,827 |
|
|
|
57,222 |
|
|
|
60,886 |
|
|
|
57,027 |
|
Non-GAAP diluted net income per common share for the third quarter of fiscal year 2024 was |
View source version on businesswire.com: https://www.businesswire.com/news/home/20240806847881/en/
Investor Relations Contact:
Nicole Noutsios
email: ir@supermicro.com
Source: Super Micro Computer, Inc.
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