Business
Supermicro Announces Fourth Quarter and Full Year Fiscal Year 2023 Financial Results
SAN JOSE, Calif.--(BUSINESS WIRE)-- Super Micro Computer, Inc. (Nasdaq: SMCI), a Total IT Solution Provider for Cloud, AI/ML, 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 Cloud, AI/ML, Storage, and 5G/Edge, today announced fourth quarter and full-year financial results for fiscal year 2023 ended June 30, 2023.\n\n\nFourth Quarter of Fiscal Year 2023 Highlights\n\n\n\nNet sales of $2.18 billion versus $1.28 billion in the third quarter of fiscal year 2023 and $1.64 billion in the same quarter of last year.\n\n\n\nGross margin of 17.0% versus 17.6% in the third quarter of fiscal year 2023 and 17.6% in the same quarter of last year.\n\n\n\nNet income of $194 million versus $86 million in the third quarter of fiscal year 2023 and $141 million in the same quarter of last year.\n\n\n\nDiluted net income per common share of $3.43 versus $1.53 in the third quarter of fiscal year 2023 and $2.60 in the same quarter of last year.\n\n\n\nNon-GAAP diluted net income per common share of $3.51 versus $1.63 in the third quarter of fiscal year 2023 and $2.62 in the same quarter of last year.\n\n\n\nCash flow used in operations for the fourth quarter of fiscal year 2023 of $9 million and capital expenditures of $8 million.\n\n\n\nNon-GAAP gross margin for the fourth quarter of fiscal year 2023 was 17.1%, which adds back stock-based compensation expense of $1 million. Non-GAAP diluted net income per common share for the fourth quarter of fiscal year 2023 was $3.51, with adjustments for stock-based compensation expenses of $13 million, net of the related tax effects of $5 million.\n\n\nAs of June 30, 2023, total cash and cash equivalents was $440 million and bank debt was $290 million.\n\n\n“Supermicro’s record revenue and 37% year-over-year growth for fiscal year 2023 validates our global leadership position in AI accelerated compute platforms,” said Charles Liang, President and CEO of Supermicro. “We continue to see unprecedented demand for AI and other advanced applications requiring optimized rack-scale solutions. We are in a great position to continue our growth momentum given our record new design wins, customers, and backlog for our best-in-class rack-scale Total AI & IT Solutions.”\n\n\nFiscal Year 2023 Summary\n\n\nNet sales for the fiscal year ended June 30, 2023, were $7.12 billion versus $5.20 billion for the fiscal year ended June 30, 2022. Net income for fiscal year 2023 was $640 million, o...