Skip to content
ChickenStockChickenStock
ResearchFilings

AI English summary of an SEC filing — figures as filed

Supermicro logoSupermicro SMCI

Supermicro said net sales increased 180.1% for the 3 months ended September 30, 2024 compared with the prior-year period, and net income was $424.3 million compared with $157.0 million in the prior-year period.

10-QQuarterly reportFiled Period of report Summary published (UTC)

Key points

AI summary
  1. Supermicro said net sales increased 180.1% for the 3 months ended September 30, 2024 compared with the prior-year period, and net income was $424.3 million compared with $157.0 million in the prior-year period.

  2. The company said gross margin declined to 13.1% for the 3 months from 16.7% in the prior-year period, and operating expenses increased 47.0% compared with the prior-year period and were 4.5% of net sales compared with 8.5% in the prior-year period.

  3. Supermicro cited increased demand for GPU servers, high performance computing and rack-scale solutions and higher average selling prices as factors in the increase in net sales of server and storage systems. It cited competitive pricing strategy to gain market share, intensified price competition and changes in product and customer mix as factors in the decline in gross margin.

  4. The company said net cash provided by operating activities increased $138.4 million for the 3 months compared with the prior-year period, and cash and cash equivalents were $2.1 billion as of September 30, 2024 compared with $1.7 billion as of June 30, 2024.

Key figures

Quarter ended September 30, 2024

Revenue
$5.9B
Operating income
$509M
Net income
$424M
EPS
$0.67
Gross profit
$776M
Operating cash flow
$409M

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 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.

Net Sales Up 180.1%, Net Income $424.3 million

Supermicro said net sales increased 180.1% for the 3 months ended September 30, 2024 compared with the prior-year period, and net income was $424.3 million compared with $157.0 million in the prior-year period.

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

Gross Margin 13.1%, Operating Expenses 4.5% of Sales

The company said gross margin declined to 13.1% for the 3 months from 16.7% in the prior-year period, and operating expenses increased 47.0% compared with the prior-year period and were 4.5% of net sales compared with 8.5% in the prior-year period.

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

GPU Server Demand Growth and Competitive Pricing Strategy

Supermicro cited increased demand for GPU servers, high performance computing and rack-scale solutions and higher average selling prices as factors in the increase in net sales of server and storage systems. It cited competitive pricing strategy to gain market share, intensified price competition and changes in product and customer mix as factors in the decline in gross margin.

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

Operating Cash Flow Up $138.4 million, Cash $2.1 billion

The company said net cash provided by operating activities increased $138.4 million for the 3 months compared with the prior-year period, and cash and cash equivalents were $2.1 billion as of September 30, 2024 compared with $1.7 billion as of June 30, 2024.

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.

Source: SEC EDGAR (U.S. Securities and Exchange Commission). Item captions are the SEC's. The summary is for reference only and is not investment advice.