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Super Micro Computer 8-K Report, Financial Results (May 6, 2025)

Reports
Earnings & Results·Exhibits & Filings
Filing Date
Filed May 6, 2025
Period End
May 6, 2025
Securities
SMCISMCIP
In the record · 2016–202610-K1010-Q328-K170

SMCI filed 10 annual reports (10-K), 32 quarterly reports (10-Q) and 170 current reports (8-K) between 2016 and 2026.

  1. Restatement8-K · Nov ’18Nov ’18
  2. Leadership change8-K · Mar ’21Mar ’21
  3. Auditor change8-K · Mar ’23Mar ’23
  4. Leadership change8-K · Oct ’26Oct ’26

01—Abstract

Summary

Summary of the 8-K filed May 6, 2025. Cited figures are marked; the original filing is the authoritative source.

Super Micro Computer, Inc. (NASDAQ: SMCI) reported unaudited results for its third quarter of fiscal year 2025 ended March 31, 2025, in a press release attached as Exhibit 99.1 to this Form 8-K.

Net sales were $4.60 billiona, versus $5.68 billion in Q2'25 and $3.85 billion in Q3'24. Gross margin fell to 9.6%, from 11.8% in Q2'25 and 15.5% in Q3'24. GAAP net income was $109 million ($0.17 diluted per share), compared with $321 million ($0.51) in Q2'25 and $402 million ($0.66) in Q3'24.

Non-GAAP diluted EPS was $0.31b. Management said some customers delayed platform decisions in the quarter and expects many of those commitments to land in the June and September quarters, while noting that economic uncertainty and tariff impacts may have a short-term effect. The company updated its fiscal 2025 revenue guidance to $21.8 billion to $22.6 billion, down from the prior range of $23.5 billion to $25.0 billion.

For the fourth quarter ending June 30, 2025, it expects net sales of $5.6 billion to $6.4 billionc, GAAP diluted EPS of $0.30 to $0.40, and non-GAAP diluted EPS of $0.40 to $0.50. Cash flow from operations for the quarter was $627 million, capital expenditures were $33 million, and cash and equivalents were $2.54 billion at March 31, 2025, against total bank debt and convertible notes of $2.49 billion.

The release also describes governance progress, including implementation of recommendations from the board's Special Committee, the filing of all outstanding financial statements, and compliance with Nasdaq filing requirements. It notes the addition of Scott Angel to the board, Yitai Hu as General Counsel and Senior Vice President of Corporate Development, and Kenneth Cheung as Senior Vice President and Chief Accounting Officer.

02—Key points

Key Highlights

  1. Q3 FY2025 net sales of $4.60 billion, up from $3.85 billion in Q3'24 but down from $5.68 billion in Q2'25.
  2. Gross margin of 9.6%, versus 11.8% in Q2'25 and 15.5% in Q3'24; non-GAAP gross margin was 9.7%.
  3. GAAP net income of $109 million ($0.17 diluted EPS) versus $321 million in Q2'25; non-GAAP diluted EPS was $0.31 including a $30 million loss on extinguishment of convertible notes adjustment.
  4. Fiscal 2025 revenue guidance cut to $21.8 billion–$22.6 billion from $23.5 billion–$25.0 billion.
  5. Q4 FY2025 outlook: net sales of $5.6 billion–$6.4 billion, GAAP diluted EPS of $0.30–$0.40, non-GAAP diluted EPS of $0.40–$0.50.
  6. Management attributed the quarter to customers delaying platform decisions, expecting many commitments in the June and September quarters.
  7. Cash and cash equivalents of $2.54 billion at March 31, 2025, against bank debt and convertible notes of $2.49 billion; operating cash flow of $627 million in the quarter.

03—Questions

Frequently Asked Questions

  1. Why did Supermicro's revenue and margins decline in the third quarter of fiscal 2025?

    Management said some customers delayed making platform decisions during the quarter. Net sales were $4.60 billion, gross margin was 9.6%, and GAAP net income was $109 million, all lower than in Q2'25.

  2. Did Supermicro change its full-year guidance?

    Yes. Fiscal 2025 revenue guidance was updated to $21.8 billion–$22.6 billion, from the prior range of $23.5 billion–$25.0 billion.

  3. What does the company expect for the fourth quarter of fiscal 2025?

    The company expects net sales of $5.6 billion–$6.4 billion, GAAP diluted EPS of $0.30–$0.40, and non-GAAP diluted EPS of $0.40–$0.50, assuming a fully diluted share count of 628 million for GAAP and 642 million for non-GAAP.

  4. What risks did management flag for the outlook?

    Management said economic uncertainty and tariff impacts may have a short-term impact, and the forward-looking statements cite customer concentration, fluctuating quarterly results, and declining average selling prices as risks.

  5. What governance changes were announced?

    The company said it is implementing recommendations of the board's Special Committee, has filed all outstanding financial statements, and is in compliance with Nasdaq filing requirements. Scott Angel joined the board, and Yitai Hu and Kenneth Cheung were appointed as General Counsel and SVP of Corporate Development and as SVP and Chief Accounting Officer, respectively.

04—Continue

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