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Super Micro Computer 8-K Report, Financial Results (Aug 5, 2025)

Reports
Earnings & Results·Exhibits & Filings
Filing Date
Filed August 5, 2025
Period End
August 5, 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 August 5, 2025. Cited figures are marked; the original filing is the authoritative source.

Super Micro Computer, Inc. reported unaudited results for its fourth quarter and full fiscal year ended June 30, 2025, in a press release furnished as Exhibit 99.1.

Fourth-quarter net sales were $5.76 billiona, with gross margin of 9.5% and GAAP diluted net income per share of $0.31 (non-GAAP $0.41). For the full fiscal year, net sales were $21.97 billion versus $14.99 billion in fiscal 2024, and GAAP net income was $1.05 billion, or $1.68 per diluted share, versus $1.15 billion, or $1.92, a year earlier. Non-GAAP diluted net income per share was $2.06 for fiscal 2025 versus $2.12 for fiscal 2024.

Full-year gross margin was 11.1% on a GAAP basis and 11.2% non-GAAP, down from 13.8% and 13.9% a year earlier. The balance sheet grew substantially over the year. Cash and cash equivalents rose to $5.17 billionb from $1.67 billion, and convertible notes increased to $4.65 billion from $1.70 billion.

Operating cash flow for fiscal 2025 was $1.66 billionc, compared with an outflow of $2.49 billion in fiscal 2024, and the company repurchased $200 million of stock during the year. Adjusted EBITDA for fiscal 2025 was $1.67 billion, or 7.6% of net sales.

For the first quarter of fiscal 2026 ending September 30, 2025, the company guided to net sales of $6.0 billion to $7.0 billiond, GAAP diluted EPS of $0.30 to $0.42, and non-GAAP diluted EPS of $0.40 to $0.52. It expects fiscal 2026 net sales of at least $33.0 billion and cites its Datacenter Building Block Solutions (DCBBS) as a driver of large-scale datacenter customer growth.

02—Key points

Key Highlights

  1. Fiscal Q4 2025 net sales of $5.76 billion versus $5.35 billion in Q4 2024; GAAP gross margin of 9.5% versus 10.2% a year earlier.
  2. Fiscal 2025 net sales of $21.97 billion versus $14.99 billion in fiscal 2024, with GAAP net income of $1.05 billion ($1.68 per diluted share) versus $1.15 billion ($1.92).
  3. Full-year GAAP gross margin fell to 11.1% from 13.8%, and non-GAAP gross margin to 11.2% from 13.9%.
  4. Fiscal 2025 operating cash flow of $1.66 billion, a sharp swing from an outflow of $2.49 billion in fiscal 2024.
  5. Cash and cash equivalents rose to $5.17 billion at June 30, 2025, while convertible notes increased to $4.65 billion from $1.70 billion.
  6. Q1 fiscal 2026 guidance: net sales of $6.0 billion to $7.0 billion and non-GAAP diluted EPS of $0.40 to $0.52.
  7. Fiscal 2026 net sales guidance of at least $33.0 billion; management targets six to eight large-scale datacenter customers in FY26, up from four in FY25.

03—Questions

Frequently Asked Questions

  1. How did Supermicro perform in the fourth quarter of fiscal 2025?

    Net sales were $5.76 billion, up from $5.35 billion a year earlier. GAAP net income was $195 million, or $0.31 per diluted share, compared with $297 million, or $0.46, in Q4 2024. Non-GAAP diluted EPS was $0.41 versus $0.54. Gross margin declined to 9.5% from 10.2%.

  2. What drove the change in full-year profitability?

    Fiscal 2025 net sales increased to $21.97 billion from $14.99 billion, but gross profit rose only to $2.43 billion from $2.06 billion, and gross margin fell to 11.1% from 13.8%. GAAP net income declined to $1.05 billion from $1.15 billion, and diluted EPS fell to $1.68 from $1.92. Operating expenses rose to $1.18 billion from $850.6 million, and interest expense rose to $59.6 million from $19.4 million.

  3. What is the company's guidance for the next quarter and year?

    For the quarter ending September 30, 2025, Supermicro expects net sales of $6.0 billion to $7.0 billion, GAAP diluted EPS of $0.30 to $0.42, and non-GAAP diluted EPS of $0.40 to $0.52. For fiscal 2026, it expects net sales of at least $33.0 billion.

  4. How did the company's cash position and capital structure change?

    Cash and cash equivalents increased to $5.17 billion from $1.67 billion. Convertible notes rose to $4.65 billion from $1.70 billion, reflecting new 2028 and 2030 convertible note issuances in fiscal 2025. Total bank debt and convertible notes were $4.8 billion at June 30, 2025. The company also repurchased $200 million of its stock during the year.

  5. What does the company say about its non-GAAP measures?

    Supermicro excludes stock-based compensation, which was $314 million for fiscal 2025, and the loss on extinguishment of convertible notes, $30 million in fiscal 2025, from its non-GAAP results. Management states these measures help investors compare core performance across periods. Non-GAAP net income for fiscal 2025 was $1.31 billion, or $2.06 per diluted share, compared with $2.12 in fiscal 2024.

04—Continue

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