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Supermicro Announces Fourth Quarter and Full Fiscal Year 2024 Financial Results
SAN JOSE, Calif.--(BUSINESS WIRE)-- Super Micro Computer, Inc. (Nasdaq: SMCI), a Total IT Solution Provider for AI, Cloud, Storage and 5G/Edge, today
About this update from Super Micro Computer, Inc.
[{"type":"text","content":" SAN JOSE, Calif.--(BUSINESS WIRE)--\nSuper Micro Computer, Inc. (Nasdaq: SMCI), a Total IT Solution Provider for AI, Cloud, Storage and 5G/Edge, today announced fourth quarter and full-year financial results for fiscal year 2024 ended June 30, 2024.\n\n\nFourth Quarter of Fiscal Year 2024 Highlights\n\n\n\nNet sales of $5.31 billion versus $3.85 billion in the third quarter of fiscal year 2024 and $2.18 billion in the same quarter of last year.\n\n\n\n\nGross margin of 11.2% versus 15.5% in the third quarter of fiscal year 2024 and 17.0% in the same quarter of last year.\n\n\n\n\nNet income of $353 million versus $402 million in the third quarter of fiscal year 2024 and $194 million in the same quarter of last year.\n\n\n\n\nDiluted net income per common share of $5.51 versus $6.56 in the third quarter of fiscal year 2024 and $3.43 in the same quarter of last year.\n\n\n\n\nNon-GAAP diluted net income per common share of $6.25 versus $6.65 in the third quarter of fiscal year 2024 and $3.51 in the same quarter of last year.\n\n\n\n\nCash flow used in operations for the fourth quarter of fiscal year 2024 of $635 million and capital expenditures of $27 million.\n\n\n\n\nThe Company’s Board of Directors has authorized a 10-for-1 forward split of its common stock and we expect trading to commence on a split-adjusted basis on October 1, 2024.\n\n\n\nNon-GAAP gross margin for the fourth quarter of fiscal year 2024 was 11.3%, which adds back stock-based compensation expense of $3 million. Non-GAAP diluted net income per common share for the fourth quarter of fiscal year 2024 was $6.25, with adjustments for stock-based compensation expenses of $52 million, net of the related tax effects of $20 million.\n\n\nAs of June 30, 2024, total cash and cash equivalents was $1,670 million and total bank debt and convertible notes were $2,174 million.\n\n\n“Supermicro continues to experience record demand of new AI infrastructures propelling fiscal 2024 revenue up 110% year over year to $14.9 billion and non-GAAP earnings per share up 87% to $22.09,” said Charles Liang, President and CEO of Supermicro, “We are well positioned to become the largest IT infrastructure company, driven by our technology leadership including rack-scale DLC liquid cooling and business values of our new Datacenter Building Block Solutions. The investments in Malaysia and S...