Super Micro Computer has confirmed that it expects to submit its delayed annual and quarterly reports to the US Securities and Exchange Commission (SEC) by 25 February 2025. The company previously postponed filing its 10-K and 10-Q reports, citing internal processes, raising concerns about potential delisting from Nasdaq. By meeting the upcoming deadline, Super Micro aims to address regulatory compliance concerns and reassure investors.
Alongside the delayed filings, Super Micro disclosed that it had received subpoenas from the US Department of Justice (DoJ) and the SEC following allegations made in a short-seller report published in August 2024. The company stated that it is cooperating with authorities regarding document requests. Additionally, several securities litigation complaints and derivative suits were filed in connection with the delayed filings.
Updated revenue forecast and market response
As it seeks to resolve regulatory concerns, Super Micro also revised its revenue forecast for the 2025 fiscal year, lowering projections to a range of $23.5bn to $25bn. The revision comes as the company cites supply chain disruptions, including delays in the availability of Nvidia’s Blackwell processors. The new forecast marks a decrease from its previous estimate of $26bn to $30bn.
For the third quarter ending 31 March 2025, Super Micro expects revenue between $5bn and $6bn. The company also provided earnings guidance, projecting GAAP net income per diluted share between $0.36 and $0.53 and non-GAAP net income per diluted share between $0.46 and $0.62.
Following the announcement, shares of Super Micro rose over 8% in extended trading. The company’s stock has experienced fluctuations in recent months amid regulatory scrutiny and delayed filings.
The company also reported preliminary second-quarter results for the period ending 31 December 2024. Revenue is expected to fall within the range of $5.6bn to $5.7bn, reflecting a 54% year-over-year (YoY) increase but falling short of analyst expectations. Non-GAAP diluted net income per share is projected between $0.58 and $0.6.
Super Micro also announced a private placement of $700m in new 2.25% convertible senior notes due in 2028 and amendments to the terms of its existing convertible senior notes due in 2029. The company stated that the offering aims to support its financial position and strategic goals.
Super Micro continues to expand its presence in the AI and data centre markets, recently announcing full production availability of its AI server systems powered by Nvidia’s Blackwell chips. The company remains a key competitor in AI-driven computing infrastructure, facing competition from Dell and HP Enterprise.
Despite near-term challenges, CEO Charles Liang stated that Super Micro anticipates reaching $40bn in revenue by fiscal 2026, citing continued investment in data centre infrastructure. “Combined with exceptional product quality, service, software, networking, and security with data centre building blocks, Supermicro will expand our leadership as the premier US-based data centre infrastructure solution provider,” said Liang.
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