Supermicro said net sales in fiscal 2024 increased 110.4% compared with fiscal 2023. The company said gross margin declined to 13.8% from 18.0%, citing competitive pricing strategy, changes in product and customer mix, and higher manufacturing-related expenses as factors.

10-KAnnual reportFiled Feb 25, 2025Period of report Jun 30, 2024Summary published (UTC) Oct 11, 2026

Key points

AI summary

Supermicro said net sales in fiscal 2024 increased 110.4% compared with fiscal 2023. The company said gross margin declined to 13.8% from 18.0%, citing competitive pricing strategy, changes in product and customer mix, and higher manufacturing-related expenses as factors.
Supermicro said net income in fiscal 2024 increased to $1,152.7 million from $640.0 million in fiscal 2023. The company said operating expenses increased 63.0%, citing higher headcount including salary increases and stock-based compensation as factors.
Supermicro said it used $2,486.0 million in operating activities in fiscal 2024 and received $3,911.7 million from financing activities. The company said cash and cash equivalents increased from $440.5 million to $1,669.8 million.
Supermicro said it issued $1,725.0 million of 2029 Convertible Notes in a private placement on February 27, 2024, with net proceeds of $1,553.7 million. The company said it issued 20,000,000 shares at $87.50 per share in a public offering on March 22, 2024, receiving net proceeds of approximately $1.73 billion.

Key figures

Fiscal year ended June 30, 2024

Revenue: $15.0B
Operating income: $1.2B
Net income: $1.2B
EPS: $1.92
Gross profit: $2.1B
Operating cash flow: −$2.5B

From the XBRL financial data filed with the SEC · not processed by AI.

Summary

AI-written

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

Annual net sales up 110.4%, gross margin 13.8%

Supermicro said net sales in fiscal 2024 increased 110.4% compared with fiscal 2023. The company said gross margin declined to 13.8% from 18.0%, citing competitive pricing strategy, changes in product and customer mix, and higher manufacturing-related expenses as factors.

Source · Based on the MD&A text of the filing

Net income $1,152.7 million, operating expenses up 63.0%

Supermicro said net income in fiscal 2024 increased to $1,152.7 million from $640.0 million in fiscal 2023. The company said operating expenses increased 63.0%, citing higher headcount including salary increases and stock-based compensation as factors.

Source · Based on the MD&A text of the filing

Annual operating cash flow $2,486.0 million used

Supermicro said it used $2,486.0 million in operating activities in fiscal 2024 and received $3,911.7 million from financing activities. The company said cash and cash equivalents increased from $440.5 million to $1,669.8 million.

Source · Based on the MD&A text of the filing

2029 Convertible Notes $1,725.0 million issued

Supermicro said it issued $1,725.0 million of 2029 Convertible Notes in a private placement on February 27, 2024, with net proceeds of $1,553.7 million. The company said it issued 20,000,000 shares at $87.50 per share in a public offering on March 22, 2024, receiving net proceeds of approximately $1.73 billion.

Source · Based on the MD&A text of the filing

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.

View the original filing on SEC EDGAR ↗

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