Slide 1: First Quarter Fiscal 2014 Earnings Conference Presentation
© Supermicro 2013 Confidential First Quarter Fiscal 2014 Earnings Conference Presentation October 22, 2013 Exhibit 99.2
Slide 2: Safe Harbor Statement
Confidential 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,
Slide 3: Non-GAAP Financial Measures
Confidential 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
Slide 4: Q1'FY2014 Non-GAAP Financial Highlights
Confidential 4 Q1’FY2014 Non-GAAP Financial Highlights (in millions, except per share data) Q1'14 YoY Sequential Revenue $309.0 14.2% -4.1% Profit after Tax $9.9 223.4% -12.6% EPS $0.22 214.3% -15.4% Change
Slide 5: Summary of Results
Confidential 5 Summary of Results Revenues were 14.2% higher year over year OEM and Direct business was 39.1% of total revenues and Internet Data Center was 8.3% of total revenues System business was 46.4% of total revenues Revenues by Geography: US – 56.7% Europe – 23.0% Asia – 17.8%
Slide 6: The Best Server Products on the Market
Confidential The Best Server Products on the Market FatTwin™ Architecture GPU-optimized HFT Workstations Embedded Solutions Big Data Solutions MicroBlade 12-node MicroCloud Product Families Twin Architecture FatTwin™ product line in volume, TwinPro™ and BigTwin coming soon GPU Optimized Solutions Fi
Slide 7: Revenue Trend
Confidential 7 Revenue Trend Q1'13 Q2'13 Q3'13 Q4'13 Q1'14 $271 $291 $278 $322 $309 #039;s millions Supermicro Revenue Trend Y/Y 9.2% 16.6% 15.8% 16.8% 14.2% Seq. -1 9 7 7 -4 6 5 9 - 1
Slide 8: Revenue Analysis
Confidential 8 Revenue Analysis Q1'13 Q2'13 Q3'13 Q4'13 Q1'14 $164 $165 $162 $169 $166 $107 $126 $116 $153 $143 #039;s millions Supermicro Subsystems/System Revenue Subsystems Systems
Slide 9: Non-GAAP Gross Margins
Confidential 9 Non-GAAP Gross Margins Q1'13 Q2'13 Q3'13 Q4'13 Q1'14 13.0% 13.8% 14.1% 14.4% 15.2%
Slide 10: Non-GAAP Operating Margin
Confidential 10 Non-GAAP Operating Margin Q1'13 Q2'13 Q3'13 Q4'13 Q1'14 1.7% 3.6% 2.9% 4.7% 4.7%
Slide 11: Summary P&L non-GAAP
Confidential 11 Summary P&L non-GAAP (in millions, except per share data) Q1'14 YoY Sequential Q1'13 Q4'13 Operating Expense $32.4 $1.7 $1.2 $30.7 $31.2 Operati g Expense Ratio 10.5% -0.8% 0.8% 11.3% 9.7% Operating Income $14.6 $10.0 -$0.5 $4.6 $15.1 Net Income $9.9 $6.8 -$1.4 $3.1 $11.3 EPS $0.22 $
Slide 12: Q1 FY2014 YTD Summary Statement of Cash Flows
Confidential 12 Q1 FY2014 YTD Summary Statement of Cash Flows ($’s millions) 3 Months Ended 3 Months Ended 30-Sep-13 30-Sep-12 Net Income $7.7 $0.9 Depreciation and amortization $1.4 $2.0 Stock comp expense $2.6 $2.9 Other reserves $0.2 -$0.5 Net change in AR, Inventory, AP $6.6 -$35.1 Other prepaid
Slide 13: Q1 FY2014 Summary of Balance Sheet Metrics
Confidential Q1 FY2014 Summary of Balance Sheet Metrics ($’s millions) 13 Q1'14 Q4'13 Change Cash Equivalents & Investments 114.2$ 95.7$ 18.5$ Accounts Receivable 134.1$ 149.3$ (15.2)$ Inventory 254.3$ 254.2$ 0.1$ Accounts Payable 165.7$ 172.9$ (7.2)$ DSO 42 38 4 DIO 89 84 5 DPO 59 55 4 Cash Cycle D
Slide 14: Supplemental Financials First Quarter Fiscal 2014
Confidential 14 Supplemental Financials First Quarter Fiscal 2014 Ended September 30, 2013
Slide 15: Non-GAAP Financial Summary
Confidential 15 Non-GAAP Financial Summary (in millions, except per share data) Q1'14 Q4'13 Q1'13 Net Sales 309.0$ 322.3$ 270.7$ Non-GAAP Gross Margin 15.2% 14.4% 13.0% Non-GAAP Operating Expenses 32.4$ 31.2$ 30.7$ Non-GAAP Operating Income 14.6$ 15.1$ 4.6$ Non-GAAP Net Income 9.9$ 11.3$ 3.1$ Non-GA
Slide 16: Prior Period Net Income Comparisons
Confidential 16 Prior Period Net Income Comparisons (in millions, except per share data) * Note: Non-GAAP, please see Non-GAAP financial measures on page 3. Q1'14 Q4'13 Q1'13 Net Income (GAAP) 7.7$ 8.4$ 0.9$ Stock Compensation Expense (tax affected)* 2.2$ 2.9$ 2.2$ Net Income (Non-GAAP)* 9.9$ 11.3$
Slide 17: Quarterly Net Income (Loss) GAAP to Non-GAAP Reconciliation
Confidential 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. Q1'14 Q4'13 Q3'13 Q2'13 Q1'13 Net income (GAAP) 7.7$ 8.4$ 7.0$ 4.9$ 0.9$ Adjustments: Stock-based compensation expense