Slide 1: Second Quarter Fiscal 2014 Earnings Conference Presentation
© Supermicro 2014 Second Quarter Fiscal 2014 Earnings Conference Presentation January 21, 2014 Exhibit 99.2
Slide 2: Safe Harbor Statement
2 Safe Harbor Statement This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements may relate, among other things, to our expec
Slide 3: Non-GAAP Financial Measures
3 Non-GAAP Financial Measures Non-GAAP gross margin in this presentation excludes stock-based compensation expense. Non- GAAP net income and net income per share in this presentation exclude stock-based compensation expense and the related tax effect of the applicable items. Management presents non-
Slide 4: Q2'FY2014 Non-GAAP Financial Highlights
4 Q2’FY2014 Non-GAAP Financial Highlights (in millions, except per share data) Q2'14 YoY Sequential Revenue $356.4 22.3% 15.3% Profit after Tax $15.9 103.0% 60.9% EPS $0.35 94.4% 59.1% Change
Slide 5: Summary of Results
5 Summary of Results Revenues were 22.3% higher year over year OEM and Direct business was 46.6% of total revenues and Internet Data Center was 13% of total revenues System business was 48.8% of total revenues Revenues by Geography: US – 50.4% Europe – 23.9% Asia – 23% Other – 2.7%
Slide 6: The Best Server Products on the Market
The Best Server Products on the Market FatTwin™ Xeon Phi-optimized HFT Workstations Embedded Solutions Big Data Solutions MicroBlade 12-node MicroCloud Product Families Twin Architecture The original Twin architecture innovator. FatTwin™ & TwinPro™ Xeon Phi Optimized Solutions Full line of GPU and I
Slide 7: Revenue Trend
7 Revenue Trend Q2'13 Q3'13 Q4'13 Q1'14 Q2'14 $291 $278 $322 $309 $356 #039;s millions Supermicro Revenue Trend Y/Y 16.6% 15.8% 16.8% 14.2% 22.3% Seq. 7 7 -4 6 5 9 - 1 15
Slide 8: Revenue Analysis
8 Revenue Analysis Q2'13 Q3'13 Q4'13 Q1'14 Q2'14 $165 $162 $169 $166 $182 $126 $116 $153 $143 $174 #039;s millions Supermicro Subsystems/System Revenue Subsystems Systems
Slide 9: Non-GAAP Gross Margins
9 Non-GAAP Gross Margins Q2'13 Q3'13 Q4'13 Q1'14 Q2'14 13.8% 14.1% 14.4% 15.2% 15.5%
Slide 10: Non-GAAP Operating Margin
10 Non-GAAP Operating Margin Q2'13 Q3'13 Q4'13 Q1'14 Q2'14 3.6% 2.9% 4.7% 4.7% 6.4%
Slide 11: Summary P&L non-GAAP
11 Summary P&L non-GAAP (in millions, except per share data) Q2'14 YoY Sequential Q2'13 Q1'14 Operating Expense $32.3 $2.5 -$0.1 $29.8 $32.4 Operati g Expense Ratio 9.1% -1.1% -1.4% 10.2% 10.5% Operating Income $23.0 $12.5 $8.4 $10.5 $14.6 Net Income $15.9 $8.1 $6.0 $7.8 $9.9 EPS $0.35 $0.17 $0.13 $
Slide 12: Q2 FY2014 YTD Summary Statement of Cash Flows
12 Q2 FY2014 YTD Summary Statement of Cash Flows ($’s millions) 31-Dec-13 31-Dec-12 Net income $21.0 $5.8 Depreciation and amortization $2.9 $4.0 Stock comp expense $5.4 $5.8 Other reserves $1.7 $1.9 Net change in AR, Inventory, AP -$19.3 -$15.4 Other prepaids and liabilities $6.7 $3.5 Cash flow fro
Slide 13: Q2 FY2014 Summary of Balance Sheet Metrics
Q2 FY2014 Summary of Balance Sheet Metrics ($’s millions) 13 Q2'14 Q1'14 Change Cash Equivalents & Investments 92.6$ 114.2$ (21.6)$ Accounts Receivable 161.2$ 134.1$ 27.1$ Inventory 290.9$ 254.3$ 36.6$ Accounts Payable 205.8$ 165.7$ 40.1$ DSO 38 42 -4 DIO 83 89 -6 DPO 57 59 -2 Cash Cycle Days 64 72
Slide 14: Supplemental Financials Second Quarter Fiscal 2014
14 Supplemental Financials Second Quarter Fiscal 2014 Ended December 31, 2013
Slide 15: Non-GAAP Financial Summary
15 Non-GAAP Financial Summary (in millions, except per share data) Q2'14 Q1'14 Q2'13 Net Sales 356.4$ 309.0$ 291.5$ Non-GAAP Gross Margin 15.5% 15.2% 13.8% Non-GAAP Operating Expenses 32.3$ 32.4$ 29.8$ Non-GAAP Operating Income 23.0$ 14.6$ 10.5$ Non-GAAP Net Income 15.9$ 9.9$ 7.8$ Non-GAAP Net Incom
Slide 16: Prior Period Net Income Comparisons
16 Prior Period Net Income Comparisons (in millions, except per share data) * Note: Non-GAAP, please see Non-GAAP financial measures on page 3. Q2'14 Q1'14 Q2'13 Net Income (GAAP) 13.3$ 7.7$ 4.9$ Stock Comp & Other Unusual Expense (tax affected)* 2.6$ 2.2$ 2.9$ Net Income (Non-GAAP)* 15.9$ 9.9$ 7.8$
Slide 17: Quarterly Net Income (Loss) GAAP to Non-GAAP Reconciliation
17 Quarterly Net Income (Loss) GAAP to Non-GAAP Reconciliation (in millions, except per share data) * Note: Non-GAAP, please see Non-GAAP financial measures on page 3. Q2'14 Q1'14 Q4'13 Q3'13 Q2'13 Net income (GAAP) 13.3$ 7.7$ 8.4$ 7.0$ 4.9$ Adjustments: Stock-based compensation expense 2.8$ 2.6$ 2.