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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.
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.