Super Micro Computer (SMCI) reported preliminary second-quarter results below its previous guidance and said it expects to submit its delayed regulatory filings in time to avoid delisting.
The server maker and Nvidia (NVDA) partner said it expects to report second-quarter revenue of $5.6 billion to $5.7 billion, up 54% year-over-year but below its prior forecast of $5.5 billion to $6.1 billion at the midpoint. The company projected adjusted earnings per share of 58 cents to 60 cents, also short of its previous forecast.
Looking ahead, the company guided for third-quarter revenue of $5 billion to $6 billion and adjusted EPS of 46 cents to 62 cents.
Supermicro also said it expects to submit its delayed financial reports from the 2024 fiscal year by the Nasdaq’s Feb. 25 deadline to avoid being delisted.
The company’s delinquent reports have raised worries it could be delisted, amid concerns about the company’s accounting practices. Supermicro formed an independent special committee, which said in December that its probe of the company, “did not raise any substantial concerns about the integrity of Supermicro’s senior management.”
Shares of Supermicro initially dropped before rebounding to jump over 8% in extended trading Tuesday following the company’s update. The stock had lost more than half of its value over the past year through Tuesday’s close.
UPDATE—Feb. 11, 2025: This article has been updated since it was first published to reflect more recent share prices.
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