The earnings call reflected strong growth driven by AI demand and improved margins, but was tempered by revenue coming in at the lower end of the forecast, auditor-related uncertainties, and lower margin guidance for the next quarter.

Company Guidance

In the Super Micro Computer, Inc. earnings call for Q1 FY 2025, the company provided a detailed financial outlook and guidance despite recent challenges with auditor resignation and delayed 10-K filings. Preliminary net revenue for the quarter was reported between $5.9 billion and $6 billion, representing a 181% year-on-year increase, driven significantly by AI demand. Non-GAAP gross margin was approximately 13.3%, with an operating margin of about 9.9%. The company also reported non-GAAP net income of $483 million to $493 million and non-GAAP diluted earnings per share of $0.75 to $0.76. The call highlighted strong revenue contributions from AI, accounting for over 70% of total revenues, and noted the completion of a major AI supercluster deployment. For Q2 FY 2025, the company expects net sales between $5.5 billion and $6.1 billion, with GAAP and non-GAAP gross margins expected to decline by 100 basis points due to customer and product mix. The anticipated GAAP net income per diluted share is projected to be between $0.48 and $0.58, with non-GAAP net income per diluted share expected to be between $0.56 and $0.65. The company emphasized its strong relationship with NVIDIA, its strategic expansions in manufacturing capacities in Malaysia, and the expected continued growth in AI and data center solutions.

Strong Revenue Growth

Preliminary fiscal Q1 net revenue was between $5.9 billion to $6 billion, marking an increase of 181% year-over-year.

AI Demand Driving Growth

AI contributed over 70% of revenues, with significant growth in the demand for direct liquid-cooled, rack-scale AI GPU platforms.

Improved Margins

Non-GAAP gross margin improved to approximately 13.3%, up from 11.3% in the previous quarter, due to product and customer mix and enhanced manufacturing efficiencies.

Successful Deployment of AI Supercluster

Completed deployment of the largest LLC AI supercluster with 100,000 NVIDIA GPUs, showcasing engineering and logistical prowess.

Production Capacity Expansion

Expansion of production facilities in Malaysia and Silicon Valley to increase capacity, with plans for further global expansion.

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Super Micro Computer (SMCI) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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SMCI Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Aug 21, 2018	2018 (Q4)	- / 0.77	0.39	97.44% (+0.38)	―	―
Nov 15, 2018	2019 (Q1)	- / 0.68	0.28	142.86% (+0.40)	―	―
Feb 14, 2019	2019 (Q2)	- / 0.60	0.51	17.65% (+0.09)	―	―
May 17, 2019	2019 (Q3)	- / 0.50	0.5	0.00% (0.00)	―	―
Aug 15, 2019	2019 (Q4)	- / 0.59	0.77	-23.38% (-0.18)	―	―
Nov 14, 2019	2020 (Q1)	- / 0.56	0.68	-16.91% (-0.12)	―	―
Feb 06, 2020	2020 (Q2)	- / 0.57	0.6	-5.00% (-0.03)	―	―
May 07, 2020	2020 (Q3)	- / 0.84	0.5	68.00% (+0.34)	―	―
Aug 11, 2020	2020 (Q4)	- / 0.68	0.59	15.25% (+0.09)	―	―
Nov 03, 2020	2021 (Q1)	- / 0.06	0.056	-1.79% (>-0.01)	―	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

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SMCI Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Nov 05, 2024	$27.70	$22.70	-18.05%
Aug 06, 2024	$61.69	$49.27	-20.13%
Apr 30, 2024	$85.88	$73.83	-14.03%
Jan 29, 2024	$49.57	$51.30	+3.49%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

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