Slide 1: First Quarter Fiscal 2013 Earnings Conference Presentation
© Supermicro 2012 First Quarter Fiscal 2013 Earnings Conference Presentation October 23, 2012 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: Q1'FY2013 Non-GAAP Financial Highlights
4 Q1’FY2013 Non-GAAP Financial Highlights (in millions, except per share data) Q1'13 YoY Sequential Revenue $270.7 9.2% -1.9% Profit after Tax $3.1 -70.9% -62.4% EPS $0.07 -70.8% -61.1% Change
Slide 5: Summary of Results
5 Summary of Results Revenues were 9.2% higher year over year OEM and Direct business was 45.3% of total revenues and Internet Data Center was 8.8% of total revenues System business was 39.5% of total revenues Revenues by Geography: US – 49.8% Europe – 23.4% Asia – 23.9% Other – 2.9%
Slide 6: New Technology Progressions – Q1 FY13
New Technology Progressions – Q1 FY13 FatTwin™ Architecture New FatTwin™ Architecture: 8/4/2 nodes in 4U, 16% out perform 8HS 3.5” HDDs in 1U, Front I/O, 135W CPU, PUE Optimized Hadoop and GPU-optimized models coming soon GPU Optimized Products First with NVIDIA Kepler GPU (K10, K20) I
Slide 7: Complete System Solution
Complete System Solution FatTwin™ Architecture Datacenter Optimized Rackmount High Performance Switching L2 1G Switch 10G Switch Thermal Engineering High Efficiency Power Battery Backup Datacenter Management Software Solutions High Capacity Storage Blade Solutions 7
Slide 8: Revenue Trend
8 Revenue Trend $0 $40 $80 $120 $160 $200 $240 $280 Q1'12 Q2'12 Q3'12 Q4'12 Q1'13 $248 $250 $240 $276 $271 #039;s millions Supermicro Revenue Trend Y/Y 19.6% 3.8% 2.5% 6.0% 9.2% Seq. -4 8 0 -3 9 14 9 -1 9
Slide 9: Revenue Analysis
9 Revenue Analysis Q1'12 Q2'12 Q3'12 Q4'12 Q1'13 $150 $140 $124 $153 $164 $98 $110 $116 $123 $107 #039;s millions Supermicro Subsystems/System Revenue Subsystems Systems
Slide 10: Non-GAAP Gross Margins
10 Non-GAAP Gross Margins 10.0% 13.0% 16.0% Q1'12 Q2'12 Q3'12 Q4'12 Q1'13 16.1% 17.1% 17.0% 15.5% 13.0%
Slide 11: Non-GAAP Gross Profit
11 Non-GAAP Gross Profit $- $10.0 $20.0 $30.0 $40.0 $50.0 Q1'12 Q2'12 Q3'12 Q4'12 Q1'13 $39.8 $42.8 $40.9 $42.6 $35.3 Gross Profit #039;s millions
Slide 12: Summary P&L non-GAAP
12 Summary P&L non-GAAP (in millions, except per share data) Q1'13 YoY Sequential Q1'12 Q4'12 Operating Expense $30.7 $6.7 $0.1 $24.0 $30.6 Operating Expense Ratio 11.3% 1.6% 0.2% 9.7% 11.1% Operating Income $4.6 -$11.3 -$7.4 $15.8 $12.0 Net Income $3.1 -$7.4 -$5.1 $10.5 $8.1 EPS $0.07 -$0.17 -$0.11
Slide 13: Q1 FY2013 YTD Summary Statement of Cash Flows
13 Q1 FY2013 YTD Summary Statement of Cash Flows ($’s millions) 3 Months Ended 3 Months Ended 30-Sep-12 30-Sep-11 Net Income $0.9 $8.5 Depreciation and amortization $2.0 $1.5 Stock comp expense $2.9 $2.3 Other reserves -$0.4 $4.4 Net change in AR, Inventory, AP -$35.1 -$4.5 Other prepaids and liabil
Slide 14: Q1 FY2013 Summary of Balance Sheet Metrics
141 414 141 4 Q1 FY 2013 Summary of Balance Sheet Metrics ($’s millions) Q1'13 Q4'12 Change Cash Equivalents & Investments 61.3$ 83.8$ (22.5)$ Accounts Receivable 112.8$ 102.0$ 10.8$ Inventory 263.2$ 276.6$ (13.4)$ Accounts Payable 140.1$ 174.0$ (33.9)$ DSO 37 34 3 DIO 105 100 5 DPO 61 62 -1 Cash Cy
Slide 15: Supplemental Financials
15 Supplemental Financials First Quarter Fiscal 2013 Ended September 30, 2012
Slide 16: Non-GAAP Financial Summary
16 Non-GAAP Financial Summary (in millions, except per share data) Q1'13 Q4'12 Q1'12 Net Sales 270.7$ 275.9$ 247.9$ Non-GAAP Gross Margin 13.0% 15.5% 16.1% Non-GAAP Operating Expenses 30.7$ 30.6$ 24.0$ Non-GAAP Operating Income 4.6$ 12.0$ 15.8$ Non-GAAP Net Income 3.1$ 8.1$ 10.5$ Non-GAAP Net Income
Slide 17: Prior Period Net Income Comparisons
17 Prior Period Net Income Comparisons (in millions, except per share data) * Note: Non-GAAP, please see Non-GAAP financial measures on page 3. Q1'13 Q4'12 Q1'12 Net Income (GAAP) 0.9$ 5.5$ 8.5$ Stock Comp & Other Unusual Expense (tax affected)* 2.2$ 2.6$ 2.0$ Net Income (Non-GAAP)* 3.1$ 8.1$ 10.5$
Slide 18: Quarterly Net Income (Loss) GAAP to Non-GAAP Reconciliation
18 Quarterly Net Income (Loss) GAAP to Non-GAAP Reconciliation (in millions, except per share data) Q1'13 Q4'12 Q3'12 Q2'12 Q1'12 Net income (GAAP) 0.9$ 5.5$ 7.1$ 8.8$ 8.5$ Adjustments: Stock-based compensation expense 2.9 2.8 2.6 2.5 2.3 Income tax effects of adjustments (0.7) (0.2) (0.9) (0.1) (0.