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Jun 30, 2023
Supermicro Q4 2023 Earnings Report
Supermicro's Q4 2023 financial results were announced, revealing record revenue and significant year-over-year growth.
Key Takeaways
Supermicro reported record revenue of $2.18 billion for Q4 2023, a 37% year-over-year increase. Net income was $194 million, or $3.43 per diluted share, while non-GAAP diluted net income per share was $3.51. The company's FY23 revenue reached $7.12 billion, driven by strong demand for AI and advanced applications.
Net sales reached $2.18 billion, compared to $1.64 billion in the same quarter last year.
Net income was $194 million, or $3.43 per diluted share, versus $141 million, or $2.60 per diluted share, in the same quarter last year.
Non-GAAP diluted net income per common share was $3.51, compared to $2.62 in the same quarter of last year.
Cash and cash equivalents totaled $440 million as of June 30, 2023.
Forward Guidance
For the first quarter of fiscal year 2024, Supermicro expects net sales of $1.90 billion to $2.20 billion, GAAP net income per diluted share of $2.02 to $2.80, and non-GAAP net income per diluted share of $2.75 to $3.50. For fiscal year 2024, the company expects net sales of $9.5 billion to $10.5 billion.
Positive Outlook
- Expected net sales of $1.90 billion to $2.20 billion for Q1 2024.
- Projected GAAP net income per diluted share of $2.02 to $2.80 for Q1 2024.
- Anticipated non-GAAP net income per diluted share of $2.75 to $3.50 for Q1 2024.
- Forecasted net sales of $9.5 billion to $10.5 billion for fiscal year 2024.
- Assumed tax rate of approximately 14.7% for GAAP and 15.4% for non-GAAP in projections.
Challenges Ahead
- Q1 2024 GAAP net income per diluted share includes approximately $44 million in expected stock-based compensation expense and other expenses.
- Projections are subject to risks and uncertainties.
- Potential fluctuations in quarterly operating results.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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