Super Micro Computer, Inc. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Super Micro Computer, Inc. filed its quarterly report (10-Q) for the period ending March 31, 2024</b>.

AI Summary

Super Micro Computer, Inc. (SMCI) filed a Quarterly Report (10-Q) with the SEC on May 6, 2024. Super Micro Computer, Inc. filed a 10-Q report for the period ending March 31, 2024. The filing covers the period from July 1, 2023, to March 31, 2024. The company's fiscal year ends on June 30. The filing was made on May 6, 2024. The company is incorporated in California and its business address is 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 the latest financial and operational details for Super Micro Computer, Inc. for the third quarter of their fiscal year. Investors and analysts will review this report to assess the company's performance, financial health, and future outlook, particularly in the context of the rapidly evolving technology sector.

Risk Assessment

Risk Level: low — Super Micro Computer, Inc. shows low risk based on this filing. The filing is a standard 10-Q, which is a routine quarterly report and does not inherently contain new, significant risks beyond those typically associated with public companies in the technology sector.

Analyst Insight

Monitor future filings for detailed financial performance, segment revenues, and any updates on strategic initiatives or market trends impacting Super Micro Computer.

Key Numbers

• 2024-03-31 — Period End Date (Quarterly report period)
• 2024-05-06 — Filing Date (Date the report was filed)
• 0630 — Fiscal Year End (Company's fiscal year end month and day)

Key Players & Entities

• Super Micro Computer, Inc. (company) — Filer name
• SMCI (company) — Ticker symbol
• 2024-03-31 (date) — Period of report
• 2024-05-06 (date) — Filing date
• San Jose, CA (location) — Business address city and state

FAQ

Industry Context

Super Micro Computer operates in the technology sector, specifically in the area of high-performance servers and storage solutions, which are critical for data centers and AI applications.

Regulatory Implications

This filing is a 10-Q, a mandatory quarterly report filed by public companies with the U.S. Securities and Exchange Commission (SEC) under the Securities Exchange Act of 1934.

What Investors Should Do

1. Review the full 10-Q document for detailed financial statements and management's discussion and analysis.
2. Analyze revenue breakdowns by segment and geographic region, if available in the full filing.
3. Compare key financial metrics to previous quarters and the same period last year to identify trends.

Key Dates

• 2024-03-31: Quarter End — End of the reporting period for the 10-Q filing.
• 2024-05-06: Filing Date — Date the 10-Q report was officially submitted to the SEC.

Year-Over-Year Comparison

This is the 10-Q filing for the period ending March 31, 2024. Specific comparative data against the previous filing (likely a 10-Q for the period ending December 31, 2023, or an 8-K if there were material events) is not detailed in this header information.

Key Financial Figures

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

Filing Documents

• smci-20240331.htm (10-Q) — 1708KB
• smci-ex311_20240331x10q.htm (EX-31.1) — 11KB
• smci-ex312_20240331x10q.htm (EX-31.2) — 10KB
• smci-ex321_20240331x10q.htm (EX-32.1) — 5KB
• smci-ex322_20240331x10q.htm (EX-32.2) — 4KB
• smci-20240331_g1.jpg (GRAPHIC) — 7KB
• 0001375365-24-000022.txt (&nbsp;) — 9706KB
• smci-20240331.xsd (EX-101.SCH) — 68KB
• smci-20240331_cal.xml (EX-101.CAL) — 82KB
• smci-20240331_def.xml (EX-101.DEF) — 386KB
• smci-20240331_lab.xml (EX-101.LAB) — 778KB
• smci-20240331_pre.xml (EX-101.PRE) — 613KB
• smci-20240331_htm.xml (XML) — 1539KB

FINANCIAL INFORMATION

PART I FINANCIAL INFORMATION

Financial Statements (Unaudited)

ITEM 1. Financial Statements (Unaudited) 1 Condensed Consolidated Balance Sheets as of March 31, 202 4 and June 30, 2023 1 Condensed Consolidated Statements of Operations for the Three and Nine Months Ended March 31, 202 4 and 202 3 2 Condensed Consolidated Statements of Comprehensive Income for the Three and Nine Months Ended March 31, 202 4 and 20 23 3 Condensed Consolidated Statements of Stockholders' Equity for the Three and Nine Months Ended March 31, 20 24 and 20 23 4 Condensed Consolidated Statements of Cash Flows for the Nine Months Ended March 31, 202 4 and 20 23 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 33

Quantitative and Qualitative Disclosures About Market Risk

ITEM 3. Quantitative and Qualitative Disclosures About Market Risk 44

Controls and Procedures

ITEM 4. Controls and Procedures 45

OTHER INFORMATION

PART II OTHER INFORMATION

Legal Proceedings

ITEM 1. Legal Proceedings 46

Risk Factors

ITEM 1A. Risk Factors 46

Unregistered Sales of Equity Securities and Use of Proceeds

ITEM 2. Unregistered Sales of Equity Securities and Use of Proceeds 48

Defaults Upon Senior Securities

ITEM 3. Defaults Upon Senior Securities 48

Mine Safety Disclosures

ITEM 4. Mine Safety Disclosures 48

Other Information

ITEM 5. Other Information 48

Exhibits

ITEM 6. Exhibits 49

Signatures

Signatures 50 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) March 31, June 30, 2024 2023 ASSETS Current assets: Cash and cash equivalents $ 2,115,476 $ 440,459 Accounts receivable, net of allowance for credit losses of $ 75 and $ 82 at March 31, 2024 and June 30, 2023, respectively (including accounts receivable from related parties of $ 1,110 and $ 5,473 at March 31, 2024 and June 30, 2023, respectively) 1,650,153 1,148,259 Inventories 4,124,587 1,445,564 Prepaid expenses and other current assets (including receivables from related parties of $ 30,249 and $ 27,732 at March 31, 2024 and June 30, 2023, respectively) 173,716 145,144 Total current assets 8,063,932 3,179,426 Property, plant and equipment, net 385,566 290,240 Deferred income taxes, net 330,248 162,654 Other assets 83,035 42,409 Total assets $ 8,862,781 $ 3,674,729 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable (including amounts due to related parties of $ 102,582 and $ 89,134 at March 31, 2024 and June 30, 2023, respectively) $ 1,092,445 $ 776,831 Accrued liabilities (including amounts due to related parties of $ 18,798 and $ 14,017 at March 31, 2024 and June 30, 2023, respectively) 290,370 163,865 Income taxes payable 20,021 129,166 Lines of credit and current portion of term loans 81,566 170,123 Deferred revenue 233,293 134,667 Total current liabilities 1,717,695 1,374,652 Deferred revenue, non-current 203,198 169,781 Term loans 85,646 120,179 Convertible notes 1,696,255 — Other long-term liabilities 65,831 37,947 Total liabilities 3,768,625 1,702,559 Commitments and contingencies (Note 12) Stockholders' equity: Common stock and additional paid-in capital, $ 0.001 par value Authorized shares: 100,000 ; Issued and outstanding shares: 58,552 and 52,901 at March 31, 2024 and June 30, 2023, respectively 2,805,008 538,352 Accumulated o

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View this 10-Q filing on SEC EDGAR