The company said net sales for the 3 months ended December 31, 2023 increased 103.2% from a year earlier. Gross margin was 15.4%, down from 18.7% a year earlier.

1. 01

   The company said net sales for the 3 months ended December 31, 2023 increased 103.2% from a year earlier. Gross margin was 15.4%, down from 18.7% a year earlier.

2. 02

   Supermicro cited strong customer demand for GPU, HPC and rack-scale solutions, and higher average selling prices (ASPs), as the main drivers of the increase in net sales from server and storage systems. The company attributed the decline in gross margin to product and customer mix.

3. 03

   Supermicro said net cash from operating activities for the 6 months ended December 31, 2023 decreased $799.3 million from a year earlier. The company cited a $945.1 million increase in net working capital needs, including a $1,145.2 million increase in inventory, as the main factor.

4. 04

   The company said it offered 2,415,805 shares of common stock at $262.00 per share on December 5, 2023, and that net proceeds were approximately $582.8 million. Of these, 2,315,105 shares were sold by the company, and it received no proceeds from the 100,700 shares sold by selling stockholders.

Key figures

Quarter ended December 31, 2023

Revenue

$3.7B

Operating income

$371M

Net income

$296M

EPS

$5.10

Gross profit

$564M

Analysis scope · Management's discussion (MD&A)We analyzed the Management's Discussion and Analysis (MD&A) section. Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.