Overview
- Fiscal Q1 revenue came in around $5.01–$5.02 billion versus about $6 billion expected, and adjusted earnings were 35 cents per share versus a 40 cent consensus.
- Shares fell as much as 10% in after-hours trading following the report.
- For the current quarter, Super Micro guided revenue to $10 billion to $11 billion against roughly $7.8 billion expected, but projected adjusted EPS of 46 to 54 cents below a roughly 61 cent consensus.
- Management attributed the shortfall to product design upgrades and last-minute configuration changes on complex GPU rack systems that shifted revenue into Q2, while pointing to robust demand and recent design wins exceeding $12 billion.
- Profitability metrics weakened, with gross margin around 9.3% versus 13.1% a year ago and operating cash flow negative $918 million in the quarter.