Summary by Moomoo AI
Super Micro Computer reported preliminary Q1 FY2025 results with net sales of $5.9-6.0B, below previous guidance of $6.0-7.0B. GAAP and non-GAAP gross margin reached 13.3%, with GAAP EPS of $0.68-0.70 and non-GAAP EPS of $0.75-0.76. The company held $2.1B in cash and had total debt of $2.3B at quarter-end.The Independent Special Committee, formed to investigate concerns raised by EY, completed its three-month review and found no evidence of fraud or misconduct by management or Board. The Committee will recommend measures to strengthen internal governance and expects to deliver the full report shortly.For Q2 FY2025, Super Micro projects revenue of $5.5-6.1B and non-GAAP EPS of $0.56-0.65. The company continues working on its delayed FY2024 Form 10-K filing and plans to regain Nasdaq compliance. Under Nasdaq rules, the company has until November 19, 2024, to file or submit a compliance plan.
