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Sep 30, 2024
Supermicro Q1 2025 Earnings Report
Supermicro announced preliminary financial information for its first quarter of fiscal year 2025, with net sales ranging from $5.9 billion to $6.0 billion and GAAP diluted EPS between $0.68 and $0.70.
Key Takeaways
Supermicro reported preliminary financial results for Q1 FY2025, with net sales expected to be between $5.9 billion and $6.0 billion, falling short of previous guidance. GAAP diluted EPS is projected to be $0.68 to $0.70, while non-GAAP diluted EPS is expected to be $0.75 to $0.76. The company also provided guidance for Q2 FY2025, anticipating net sales between $5.5 billion and $6.1 billion.
Net sales for Q1 FY2025 are projected to be $5.9 billion to $6.0 billion, below the prior guidance of $6.0 billion to $7.0 billion.
GAAP diluted net income per common share for Q1 FY2025 is expected to be in the range of $0.68 to $0.70.
Non-GAAP diluted net income per common share for Q1 FY2025 is expected to be in the range of $0.75 to $0.76.
The company expects total cash and cash equivalents of approximately $2.1 billion and total debt of approximately $2.3 billion.
Supermicro
Supermicro
Forward Guidance
For the second quarter of fiscal year 2025 ending December 31, 2024, Supermicro expects net sales in a range of $5.5 billion to $6.1 billion, GAAP net income per diluted share of $0.48 to $0.58, and non-GAAP net income per diluted share of $0.56 to $0.65.
Positive Outlook
- Projected net sales for Q2 FY2025 are substantial, ranging from $5.5 billion to $6.1 billion.
- Non-GAAP diluted EPS guidance for Q2 FY2025 is positive, ranging from $0.56 to $0.65.
- The company anticipates a fully diluted share count of 648 million shares for non-GAAP EPS calculations.
- The independent Special Committee found no evidence of fraud or misconduct by management or the Board.
- The Special Committee is recommending remedial measures to strengthen internal governance and oversight functions.
Challenges Ahead
- The Q1 FY2025 net sales guidance was lower than the previous guidance range.
- The company remains unable to predict when the Form 10-K for FY2024 will be filed.
- Nasdaq issued a notification letter regarding non-compliance with listing rules due to the delayed Form 10-K filing.
- The company has 60 days to file the Form 10-K or submit a plan to Nasdaq to regain compliance.
- The preliminary financial information is unaudited and may be subject to change.