FMP
Supermicro (NASDAQ:SMCI) Soars 17% After Filing Delayed Financial Reports
Feb 26, 2025 6:54 AM - Parth Sanghvi
Image credit: Andras Vas
Supermicro (NASDAQ:SMCI) saw a sharp rebound in after-hours trading on Tuesday, jumping 17%, after filing its delayed financial reports. The surge follows a steep 11.8% decline during the regular session.
Supermicro's Financial Filings Restore Nasdaq Compliance
The company officially submitted its:
✅ 10-K for fiscal year ending June 30, 2024
✅ 10-Q for Q1 FY 2025 (ended September 30, 2024)
✅ 10-Q for Q2 FY 2025 (ended December 31, 2024)
These filings resolve Supermicro's compliance issues with Nasdaq listing requirements.
Audit & Governance Challenges Addressed
- Ernst & Young (EY) resigned as Supermicro's auditor, citing governance and transparency concerns.
- In November 2024, the company hired BDO USA, P.C. as its new auditor.
- A Special Committee investigation found no significant concerns regarding senior management's integrity or financial accuracy.
Bullish Growth Outlook: $40B Revenue by 2026?
📈 Strong Guidance:
- Supermicro's stock gained momentum after its February 11th update, projecting $40 billion in revenue for FY 2026—a potential 70% YoY growth.
- CEO Charles Liang even suggested this could be a conservative estimate.
- Growth is driven by the NVIDIA (NASDAQ:NVDA) Blackwell server ramp, fueling optimism among investors.
📊 Financial Data & Growth Tracking:
For a deep dive into Supermicro's financials, visit the Full Financials API.
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