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Supermicro
🇺🇸 NASDAQ:SMCI
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Dec 31, 2021

Supermicro Q2 2022 Earnings Report

Supermicro's revenue grew 41% year-over-year, exceeding $1 billion for the third consecutive quarter, driven by strong design win momentum and record-high shipments to key global customers.

Key Takeaways

Supermicro announced strong Q2 2022 financial results, with revenue exceeding $1 billion for the third consecutive quarter and a 41% year-over-year growth. The company's performance was driven by strong design win momentum and record high shipments to key global customers. Supermicro is accelerating its plan to achieve $10 billion in annual revenue much sooner.

Net sales reached $1.17 billion, compared to $830 million in the same quarter last year.

Gross margin was 14.0%, versus 16.4% in the same quarter of last year.

Net income was $42 million, compared to $28 million in the same quarter last year.

Diluted net income per common share was $0.78, compared to $0.52 in the same quarter last year.

Total Revenue
$1.17B
Previous year: $830M
+41.2%
EPS
$0.088
Previous year: $0.063
+39.7%
Gross Profit
$164M
Previous year: $136M
+20.3%
Cash and Equivalents
$247M
Previous year: $316M
-21.6%
Free Cash Flow
-$65.6M
Previous year: $49.5M
-232.3%
Total Assets
$2.68B
Previous year: $1.89B
+41.3%

Supermicro

Supermicro

Forward Guidance

For the third quarter of fiscal year 2022, the Company expects net sales of $1.1 billion to $1.2 billion, GAAP net income per diluted share of $0.58 to $0.81 and non-GAAP net income per diluted share of $0.70 to $0.90. For fiscal year 2022, the Company maintains its previous guidance of net sales of $4.2 billion to $4.6 billion, GAAP net income per diluted share of at least $2.77 and non-GAAP net income per diluted share of at least $3.20.

Positive Outlook

  • Net sales are expected to be between $1.1 billion and $1.2 billion for Q3 2022.
  • GAAP net income per diluted share is projected to be $0.58 to $0.81 for Q3 2022.
  • Non-GAAP net income per diluted share is expected to be $0.70 to $0.90 for Q3 2022.
  • Net sales guidance for fiscal year 2022 is maintained at $4.2 billion to $4.6 billion.
  • GAAP net income per diluted share for fiscal year 2022 is expected to be at least $2.77.

Challenges Ahead

  • The global COVID-19 pandemic continues to present significant uncertainties.
  • Quarterly operating results may fluctuate, which could cause rapid declines in the stock price.
  • Customer base may become more concentrated, potentially increasing cost of sales and lowering margins.
  • Failure to meet financial guidance could lead to a decline in stock value.
  • Adverse economic conditions may harm the business.

Company Overview

Full financial data and analysis

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