Super Micro Computer, Inc. Files 10-Q for Period Ending December 31, 2023

TL;DR

<b>Super Micro Computer, Inc. filed its quarterly report (10-Q) for the period ending December 31, 2023.</b>

AI Summary

Super Micro Computer, Inc. (SMCI) filed a Quarterly Report (10-Q) with the SEC on February 2, 2024. Filing is a 10-Q for Super Micro Computer, Inc. for the period ending December 31, 2023. The company's fiscal year ends on June 30. The filing was made on February 2, 2024. The filing covers the period from July 1, 2023, to December 31, 2023. The company's principal executive offices are located in San Jose, CA.

Why It Matters

For investors and stakeholders tracking Super Micro Computer, Inc., this filing contains several important signals. This 10-Q filing provides investors with updated financial performance and operational details for Super Micro Computer, Inc. during the second quarter of their fiscal year. Key financial data and disclosures within this report are crucial for understanding the company's current financial health, growth trajectory, and any potential risks or opportunities.

Risk Assessment

Risk Level: medium — Super Micro Computer, Inc. shows moderate risk based on this filing. The filing is a standard quarterly report, indicating ongoing financial reporting requirements. Specific financial performance details are not yet available in this header information, necessitating a deeper review of the full document for a precise risk assessment.

Analyst Insight

Review the full 10-Q filing to analyze Super Micro Computer, Inc.'s financial performance, revenue segments, and any disclosed risks for the period ending December 31, 2023.

Key Numbers

• 2023-12-31 — Reporting Period End Date (Conformed Period of Report)
• 2024-02-02 — Filing Date (Filed As Of Date)
• 0630 — Fiscal Year End (Fiscal Year End)

Key Players & Entities

• Super Micro Computer, Inc. (company) — Filer
• San Jose, CA (location) — Business Address

FAQ

Industry Context

Super Micro Computer, Inc. operates in the electronic computers industry, focusing on high-performance server and storage solutions.

Regulatory Implications

The filing is made under the Securities Exchange Act of 1934, requiring public companies to submit regular financial disclosures.

What Investors Should Do

1. Analyze the detailed financial statements within the 10-Q for revenue, net income, and cash flow.
2. Examine the Management's Discussion and Analysis (MD&A) section for insights into business trends and outlook.
3. Review any disclosed risk factors and legal proceedings that could impact the company.

Key Dates

• 2023-12-31: Period End Date — End of the reporting quarter for the 10-Q filing.
• 2024-02-02: Filing Date — Date the 10-Q report was officially submitted to the SEC.

Year-Over-Year Comparison

This is a 10-Q filing, representing a quarterly update. A comparison to the previous filing (likely a 10-Q for the quarter ending September 30, 2023, or an 8-K if there were material events) would be necessary to identify changes in financial performance and disclosures.

Key Financial Figures

• $0.001 — ange on which registered Common Stock, $0.001 par value per share SMCI NASDAQ Global

Filing Documents

• smci-20231231.htm (10-Q) — 1617KB
• babcsmci-sixthamendmentt.htm (EX-10.2) — 15KB
• smci-ex311_20231231x10q.htm (EX-31.1) — 11KB
• smci-ex312_20231231x10q.htm (EX-31.2) — 10KB
• smci-ex321_20231231x10q.htm (EX-32.1) — 5KB
• smci-ex322_20231231x10q.htm (EX-32.2) — 4KB
• babcsmci-sixthamendmentt001.jpg (GRAPHIC) — 202KB
• babcsmci-sixthamendmentt002.jpg (GRAPHIC) — 235KB
• babcsmci-sixthamendmentt003.jpg (GRAPHIC) — 220KB
• babcsmci-sixthamendmentt004.jpg (GRAPHIC) — 279KB
• babcsmci-sixthamendmentt005.jpg (GRAPHIC) — 52KB
• babcsmci-sixthamendmentt006.jpg (GRAPHIC) — 40KB
• babcsmci-sixthamendmentt007.jpg (GRAPHIC) — 40KB
• smci-20231231_g1.jpg (GRAPHIC) — 7KB
• 0001375365-24-000011.txt (&nbsp;) — 10669KB
• smci-20231231.xsd (EX-101.SCH) — 61KB
• smci-20231231_cal.xml (EX-101.CAL) — 78KB
• smci-20231231_def.xml (EX-101.DEF) — 351KB
• smci-20231231_lab.xml (EX-101.LAB) — 796KB
• smci-20231231_pre.xml (EX-101.PRE) — 578KB
• smci-20231231_htm.xml (XML) — 1486KB

FINANCIAL INFORMATION

PART I FINANCIAL INFORMATION

Financial Statements (Unaudited)

ITEM 1. Financial Statements (Unaudited) 1 Condensed Consolidated Balance Sheets as of December 31 , 2023 and June 30, 2023 1 Condensed Consolidated Statements of Operations for the Three and Six Months Ended December 31 , 2023 and 2022 2 Condensed Consolidated Statements of Comprehensive Income for the Three and Six Months Ended December 31 , 2023 and 2022 3 Condensed Consolidated Statements of Stockholders' Equity for the Three and Six Months Ended December 31 , 2023 and 2022 4 Condensed Consolidated Statements of Cash Flows for the Six Months Ended December 31 , 2023 and 2022 6 Notes to Condensed Consolidated Financial Statements 8

Management's Discussion and Analysis of Financial Condition and Results of Operations

ITEM 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 32

Quantitative and Qualitative Disclosures About Market Risk

ITEM 3. Quantitative and Qualitative Disclosures About Market Risk 43

Controls and Procedures

ITEM 4. Controls and Procedures 44

OTHER INFORMATION

PART II OTHER INFORMATION

Legal Proceedings

ITEM 1. Legal Proceedings 45

Risk Factors

ITEM 1A. Risk Factors 45

Unregistered Sales of Equity Securities and Use of Proceeds

ITEM 2. Unregistered Sales of Equity Securities and Use of Proceeds 45

Defaults Upon Senior Securities

ITEM 3. Defaults Upon Senior Securities 45

Mine Safety Disclosures

ITEM 4. Mine Safety Disclosures 45

Other Information

ITEM 5. Other Information 45

Exhibits

ITEM 6. Exhibits 46

Signatures

Signatures 47 Unless the context requires otherwise, the words "Super Micro," "Supermicro," "we," "Company," "us" and "our" in this document refer to Super Micro Computer, Inc. and where appropriate, our wholly owned subsidiaries. Supermicro, the Company logo and our other registered or common law trademarks, service marks, or trade names appearing in this Quarterly Report on Form 10-Q are the property of Super Micro Computer, Inc. or its affiliates. Other trademarks, service marks, or trade names appearing in this Quarterly Report on Form 10-Q are the property of their respective owners. The information contained on our website, or available by hyperlink from our website, is not incorporated into this Quarterly Report on Form 10-Q or other documents we file with, or furnish to, the SEC. We intend to use our website as a means of disclosing material non-public information and for complying with our disclosure obligations under Regulation FD. Such disclosures will be included in the "Investor Relations" section of our website. Accordingly, investors should monitor that section of our website, in addition to following our press releases, investor presentations, SEC filings and public conference calls and webcasts. Table of Contents

: FINANCIAL INFORMATION

PART I: FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements SUPER MICRO COMPUTER, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (in thousands, except par value per share amounts) (unaudited) December 31, June 30, 2023 2023 ASSETS Current assets: Cash and cash equivalents $ 725,660 $ 440,459 Accounts receivable, net of allowance for credit losses of $ 77 and $ 82 at December 31, 2023 and June 30, 2023, respectively (including accounts receivable from related parties of $ 3,859 and $ 5,473 at December 31, 2023 and June 30, 2023, respectively) 1,502,971 1,148,259 Inventories 2,466,997 1,445,564 Prepaid expenses and other current assets (including receivables from related parties of $ 34,293 and $ 27,732 at December 31, 2023 and June 30, 2023, respectively) 146,727 145,144 Total current assets 4,842,355 3,179,426 Property, plant and equipment, net 297,102 290,240 Deferred income taxes, net 218,274 162,654 Other assets 47,269 42,409 Total assets $ 5,405,000 $ 3,674,729 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable (including amounts due to related parties of $ 101,700 and $ 89,134 at December 31, 2023 and June 30, 2023, respectively) $ 1,261,533 $ 776,831 Accrued liabilities (including amounts due to related parties of $ 18,509 and $ 14,017 at December 31, 2023 and June 30, 2023, respectively) 214,462 163,865 Income taxes payable 46,453 129,166 Short-term debt 276,307 170,123 Deferred revenue 193,334 134,667 Total current liabilities 1,992,089 1,374,652 Deferred revenue, non-current 190,342 169,781 Long-term debt 99,322 120,179 Other long-term liabilities 46,173 37,947 Total liabilities 2,327,926 1,702,559 Commitments and contingencies (Note 11) Stockholders' equity: Common stock and additional paid-in capital, $ 0.001 par value Authorized shares: 100,000 ; Issued and outstanding shares: 55,917 and 52,901 at December 31, 2023 and June 30, 2023, respectively 1,190,276 538,352 Accumulated other comprehensive income 657 639 Retained

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View this 10-Q filing on SEC EDGAR