01—Abstract
Summary
Summary of the 8-K filed August 28, 2024. Cited figures are marked; the original filing is the authoritative source.
Super Micro Computer, Inc. (NASDAQ: SMCI) announced in an Item 8.01 Form 8-K dated August 28, 2024 that it expects it will not timely file its Annual Report on Form 10-K for the fiscal year ended June 30, 2024.
The company stated it expects to file a Notification of Late Filing on Form 12b-25 with respect to the Annual Report on August 30, 2024. According to the accompanying press release (Exhibit 99.1), the company is unable to file within the prescribed time period without unreasonable effort or expense, because additional time is needed for management to complete its assessment of the design and operating effectiveness of its internal controls over financial reporting as of June 30, 2024. The press release also states that the company has not made updates to its results for the fiscal year and quarter ended June 30, 2024 that were announced in its press release dated August 6, 2024.
The filing itself contains no new financial figures. The primary investor takeaway is the delay in the annual report and the open internal controls assessment, which are the points investors should weigh in the company's ongoing reporting timeline. The filing's forward-looking statements caution that actual results could differ materially from expectations, and direct readers to the risk factors in the company's Form 10-K for the fiscal year ended June 30, 2023.
02—Key points
Key Highlights
- Super Micro Computer expects not to timely file its Form 10-K for the fiscal year ended June 30, 2024.
- The company expects to file a Notification of Late Filing on Form 12b-25 on August 30, 2024.
- The stated reason is that additional time is needed for management to complete its assessment of the design and operating effectiveness of internal controls over financial reporting as of June 30, 2024.
- The company states it is unable to file the Annual Report within the prescribed time period without unreasonable effort or expense.
- Results for the fiscal year and quarter ended June 30, 2024 have not been updated from those announced in the August 6, 2024 press release.
- The filing contains no new financial figures; the disclosure is limited to the filing timeline and internal controls assessment.
03—Questions
Frequently Asked Questions
Why is Super Micro Computer delaying its Form 10-K filing?
The company says it needs additional time for management to complete its assessment of the design and operating effectiveness of its internal controls over financial reporting as of June 30, 2024.
When will the company file the notification of late filing?
The company expects to file a Notification of Late Filing on Form 12b-25 with respect to the Annual Report on August 30, 2024.
Have the company's fiscal 2024 results changed?
No. The company states it has not made updates to its results for the fiscal year and quarter ended June 30, 2024 that were announced in its press release dated August 6, 2024.
What does this filing say about the risks to the company's outlook?
The filing's forward-looking statements caution that actual results could differ materially from those anticipated, and refer readers to the risk factors in the company's Form 10-K for the fiscal year ended June 30, 2023.
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