Supermicro said net sales in fiscal 2025 increased 46.6% compared with fiscal 2024, while gross margin declined to 11.1% from 13.8%. Net income decreased to $1,048.9 million from $1,152.7 million.

10-KAnnual reportFiled Aug 28, 2025Period of report Jun 30, 2025Summary published (UTC) Oct 11, 2026

Key points

AI summary

Supermicro said net sales in fiscal 2025 increased 46.6% compared with fiscal 2024, while gross margin declined to 11.1% from 13.8%. Net income decreased to $1,048.9 million from $1,152.7 million.
The company cited increased billings for GPU & Super Racks of $5,804.0 million or 52% as a factor in the increase in net sales of server and storage systems, with average selling price rising 34%. Net sales of subsystems and accessories decreased.
Supermicro cited an increase of $6,353.2 million or 50.6% in costs of components, materials and contract manufacturing expenses and an increase in tariff expense of $86.5 million or 493.6% as factors in the increase in cost of sales. Operating expenses increased 38.4%, which the company attributed to higher headcount and increases in salary and stock-based compensation.
The company said fiscal 2025 cash flows from financing activities included the issuance of 2028 Convertible Notes of $683.7 million and 2030 Convertible Notes of $2,256.0 million, partially offset by common stock repurchases of $200.0 million. Cash and cash equivalents as of June 30, 2025 were $5,169.9 million.

Key figures

Fiscal year ended June 30, 2025

Revenue: $22.0B
Operating income: $1.3B
Net income: $1.0B
EPS: $1.68
Gross profit: $2.4B
Operating cash flow: $1.7B

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 46.6%, gross margin 11.1%

Supermicro said net sales in fiscal 2025 increased 46.6% compared with fiscal 2024, while gross margin declined to 11.1% from 13.8%. Net income decreased to $1,048.9 million from $1,152.7 million.

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

GPU & Super Racks billings increase and average selling price up 34%

The company cited increased billings for GPU & Super Racks of $5,804.0 million or 52% as a factor in the increase in net sales of server and storage systems, with average selling price rising 34%. Net sales of subsystems and accessories decreased.

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

Cost of sales components and operating expenses up 38.4%

Supermicro cited an increase of $6,353.2 million or 50.6% in costs of components, materials and contract manufacturing expenses and an increase in tariff expense of $86.5 million or 493.6% as factors in the increase in cost of sales. Operating expenses increased 38.4%, which the company attributed to higher headcount and increases in salary and stock-based compensation.

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

Convertible notes issuance and cash and cash equivalents of $5,169.9 million

The company said fiscal 2025 cash flows from financing activities included the issuance of 2028 Convertible Notes of $683.7 million and 2030 Convertible Notes of $2,256.0 million, partially offset by common stock repurchases of $200.0 million. Cash and cash equivalents as of June 30, 2025 were $5,169.9 million.

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 ↗

Unauthorized scraping, data storage and database creation prohibited

Without prior written consent, you must not crawl or scrape data compiled and organized by Chickstock or its analysis and summaries, or collect them repeatedly or in bulk for storage, ingestion or database creation. Repurposing, redistribution, sale and use to build other services are also prohibited.

Unauthorized use may result in access restrictions, demands to stop infringement and delete copies, and claims for damages. Violations of applicable law may also give rise to criminal liability.

Uses permitted by law, the Terms of Service or a separate agreement remain subject to their respective scope. Rights in individual source materials, including original filings, remain with their respective rights holders.