abrooklyn
3 weeks ago
Supermicro Announces Fourth Quarter and Full Fiscal Year 2024 Financial Results
Source: Business Wire
Super 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.
Fourth Quarter of Fiscal Year 2024 Highlights
Net 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.
Gross 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.
Net 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.
Diluted 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.
Non-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.
Cash flow used in operations for the fourth quarter of fiscal year 2024 of $635 million and capital expenditures of $27 million.
The 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.
Non-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.
As of June 30, 2024, total cash and cash equivalents was $1,670 million and total bank debt and convertible notes were $2,174 million.
“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 Silicon Valley expansions will further strengthen our supply chain, security, and economies of scale necessary for the growing AI revolution.”
Fiscal Year 2024 Summary
Net sales for the fiscal year ended June 30, 2024, were $14.94 billion versus $7.12 billion for the fiscal year ended June 30, 2023. Net income for fiscal year 2024 was $1.21 billion, or $20.09 per diluted share, versus $640 million, or $11.43 per diluted share, for fiscal year 2023. Non-GAAP net income for fiscal year 2024 was $1.34 billion, or $22.09 per diluted share, versus $673 million, or $11.81 per diluted share, for fiscal year 2023. Non-GAAP net income for fiscal year 2024 adds back stock-based compensation expense of $135 million, net of the related tax effects of $93 million.
Business Outlook and Management Commentary
For the first quarter of fiscal year 2025 ending September 30, 2024, the Company expects net sales of $6.0 billion to $7.0 billion, GAAP net income per diluted share of $5.97 to $7.66 and non-GAAP net income per diluted share of $6.69 to $8.27. The Company’s projections for GAAP and non-GAAP net income per diluted share assume a tax rate of approximately 9.9% and 14.6%, respectively, and a fully diluted share count of 65 million shares for GAAP and fully diluted share count of 66 million shares for non-GAAP. The outlook for Q1 of fiscal year 2025 GAAP net income per diluted share includes approximately $48 million in expected stock-based compensation expense and other expenses, net of related tax effects of $35 million, which are excluded from non-GAAP net income per diluted share.
For fiscal year 2025 ending June 30, 2025, the Company expects net sales of $26.0 billion to $30.0 billion.
Conference Call and Webcast Information
Supermicro will present a live audio webcast of a conference call to review its fourth quarter of fiscal year 2024 on Tuesday, August 6, 2024, at 5:00 p.m. ET / 2:00 p.m. PT.
The webcast will be available at https://ir.supermicro.com.
A replay of the webcast will be available shortly after the call at the same website and will remain accessible for one year.
Cautionary Statement Regarding Forward-Looking Statements
Statements contained in this press release that are not historical fact may be forward looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward looking statements may relate to, among other things, the first quarter of fiscal year 2025 and full year fiscal 2025 guidance, the ability to continue to see record demand for new AI infrastructure, the ability to become a dominant IT infrastructure Company, and the ability of investments in certain expansions to strengthen the supply chain, security, and economies of scale for growth. Such forward looking statements do not constitute guarantees of future performance and are subject to a variety of risks and uncertainties that could cause our actual results to differ materially from those anticipated, including: (i) our quarterly operating results may fluctuate, which could cause rapid declines in our stock price, (ii) as we increasingly target larger customers and larger sales opportunities, our customer base may become more concentrated, our cost of sales may increase, our margins may be lower and our sales may be less predictable, (iii) if we fail to meet publicly announced financial guidance or other expectations about our business, our stock could decline in value, (iv) the average sales prices for our server solutions could decline if customers do not continue to purchase our latest generation products or additional components, and (v) adverse economic conditions may harm our business. Additional factors that could cause actual results to differ materially from those projected or suggested in any forward looking statements are contained in our filings with the Securities and Exchange Commission, including those factors discussed under the caption "Risk Factors" in such filings, particularly in our Annual Report on Form 10-K for our fiscal year ended June 30, 2023, and Quarterly Reports on Form 10-Q filed thereafter.
Use of Non-GAAP Financial Measures
Non-GAAP gross margin discussed in this press release adds back stock-based compensation expenses. Non-GAAP diluted net income per common share discussed in this press release adds back stock-based compensation expenses and litigation expense recovery adjusted for the related tax effects. Management presents non-GAAP financial measures because it considers them to be important supplemental measures of performance. Management uses the non-GAAP financial measures for planning purposes, including analysis of the Company's performance against prior periods, the preparation of operating budgets and to determine appropriate levels of operating and capital investments. Management also believes that the non-GAAP financial measures provide additional insight for analysts and investors in evaluating the Company's financial and operational performance. However, these non-GAAP financial measures have limitations as an analytical tool and are not intended to be an alternative to financial measures prepared in accordance with GAAP. A reconciliation of GAAP gross margin to non-GAAP gross margin and from GAAP diluted net income per common share to non-GAAP diluted net income per common share is included in the tables below.
About Super Micro Computer, Inc.
Supermicro (NASDAQ: SMCI) is a global leader in Application-Optimized Total IT Solutions. Founded and operating in San Jose, California, Supermicro is committed to delivering first to market innovation for Enterprise, Cloud, AI, and 5G Telco/Edge IT Infrastructure. We are a Total IT Solutions Provider with server, AI, storage, IoT, switch systems, software, and support services. Supermicro's motherboard, power, and chassis design expertise further enable our development and production, enabling next generation innovation from cloud to edge for our global customers. Our products are designed and manufactured in-house (in the US, Taiwan, and the Netherlands), leveraging global operations for scale and efficiency and optimized to improve TCO and reduce environmental impact (Green Computing). The award-winning portfolio of Server Building Block Solutions® allows customers to optimize for their exact workload and application by selecting from a broad family of systems built from our flexible and reusable building blocks that support a comprehensive set of form factors, processors, memory, GPUs, storage, networking, power, and cooling solutions (air-conditioned, free air cooling or liquid cooling).
Supermicro, Server Building Block Solutions, and We Keep IT Green are trademarks and/or registered trademarks of Super Micro Computer, Inc.
abrooklyn
3 weeks ago
Supermicro Launches Plug-and-Play SuperCluster for NVIDIA Omniverse, Empowering Developers with Scalable Performance, Flexibility, and Resource Optimization
Source: PR Newswire (US)
Supermicro Rack Solution Features up to 256 of the Most Advanced NVIDIA PCIe GPUs in One Scalable Unit to Maximize Performance for 3D & AI Workloads, Optimized for NVIDIA Omniverse Large Scale Deployments
SAN JOSE, Calif. and DENVER, Aug. 1, 2024 /PRNewswire/ -- SIGGRAPH 2024 Conference -- Supermicro, Inc. (NASDAQ: SMCI), a Total IT Solution Provider for AI, Cloud, Storage, and 5G/Edge, is announcing a new addition to its SuperCluster portfolio of plug-and-play AI infrastructure solutions for the NVIDIA Omniverse™ platform to deliver the high-performance generative AI-enhanced 3D workflows at enterprise scale. This new SuperCluster features the latest Supermicro NVIDIA OVX™ systems and allows enterprises to easily scale as workloads increase.
Supermicro SuperCluster for NVIDIA Omniverse
"Supermicro has led the industry in developing GPU-optimized products, traditionally for 3D graphics and application acceleration, and now for AI," said Charles Liang, president and CEO of Supermicro. "With the rise of AI, enterprises are seeking computing infrastructure that combines all these capabilities into a single package. Supermicro's SuperCluster features fully interconnected 4U PCIe GPU NVIDIA-Certified Systems™ for NVIDIA Omniverse, with up to 256 NVIDIA L40S PCIe GPUs per scalable unit. The system helps deliver high performance across the Omniverse platform, including generative AI integrations. By developing this SuperCluster for Omniverse, we're not just offering a product; we're providing a gateway to the future of application development and innovation."
For more information, please visit https://www.supermicro.com/ai-supercluster
The SuperCluster for NVIDIA Omniverse broadens Supermicro's offerings of application-optimized AI rack solutions. A wide range of professionals depend on compute-intensive 3D workflows, with use cases ranging from product design to industrial digital twins. Generative AI has augmented existing 3D workflows and is supercharging a new era of applications. SuperCluster for NVIDIA Omniverse helps simplify the deployment of scale-out infrastructure for the multi-workload needs of 3D and AI.
Supermicro NVIDIA OVX systems serve as the foundational building block of the cluster's compute power. Each system node hosts up to 8 of the latest NVIDIA PCIe GPUs that deliver the combination of highest 3D performance, and providing exceptional Generative AI performance via Tensor Cores and Transformer Engine support. Systems are powered by 4x 2700W Titanium Level PSUs, all within a high-airflow chassis, to ensure stability under high-utilization scenarios. Up to four BlueField®-3 SuperNICs or four NVIDIA ConnectX®-7 NICs per system provide 400Gb/s network speeds with high scalability and security.
Supermicro's 4U PCIe GPU systems are fully NVIDIA-certified for NVIDIA Omniverse, passing a rigorous validation process that tests for performance, reliability, scalability, and security. Organizations can maximize performance across the diverse range of workloads within the NVIDIA Omniverse development platform, including the world-building OpenUSD ecosystem and generative AI technologies through Omniverse Cloud APIs.
SuperCluster for NVIDIA Omniverse is a fully interconnected infrastructure solution that ensures designers, artists, engineers, and others can access the highest level of GPU computing at the time of need, with seamless access to virtual GPUs or bare-metal access to full system nodes. The 400Gb/s high-performance network fabric, supporting NVIDIA Spectrum™-X Ethernet, allows enterprises developing custom large language models to tap into a combined pool of GPU memory across system nodes, essential for training large AI models.
Supermicro's validated rack solutions range from 4 GPUs to a 256 GPU Scalable Unit, which can be further multiplied to fit enterprises of any size. Customers receive thoroughly validated plug-and-play racks, tested at the L12 level and ready for use on day one.
A Highly Customizable Solution, Sized from a Single Rack to an Enterprise-Scale
A Supermicro SuperCluster for NVIDIA Omniverse can be deployed from a range of available sizes and options depending on the customer's requirements. System nodes can be equipped with either 4 GPUs per system or 8 GPUs per system. Deployments can be sized from a single rack with 4 systems to a scalable unit with 32 systems in 5 racks. Large deployments can be further incremented via scalable units to build clusters of virtually any size.
SuperCluster for the NVIDIA Omniverse Scalable Unit contains:
32 Supermicro SYS-421GE-TNRT (Dual-Root) or SYS-421GE-TNRT3 (Direct-connect) PCIe GPU System nodes
256 or 128 NVIDIA L40S GPUs
3 Supermicro SYS-121H-TNR Hyper System control nodes
3 400G 64-port NVIDIA Spectrum™ SN5600 Ethernet compute fabric switches
2 400G 64-port NVIDIA Spectrum SN5600 Ethernet storage/control fabric switches
2 1G 48-port NVIDIA Spectrum SN2201 Ethernet management switch
NN NVIDIA BlueField-3 SuperNICs or NVIDIA ConnectX-7 NICs
5 Racks: 48U 750mmx1200mm
SuperCluster for NVIDIA Omniverse can be configured in deployment sizes as small as a single rack. A single-rack configuration contains:
4 Supermicro SYS-421GE-TNRT or SYS-421GE-TNRT3 PCIe GPU system nodes
16 or 8 NVIDIA L40S GPUs
2 Supermicro SYS-121H-TNR Hyper System control nodes
1 400G 64-port NVIDIA Spectrum SN5600 Ethernet compute fabric switches
1 400G 64-port NVIDIA Spectrum SN5600 Ethernet storage/control fabric switches
1 1G 48-port NVIDIA Spectrum SN2201 Ethernet management switch
NN NVIDIA BlueField-3 SuperNICs or NVIDIA ConnectX-7 NICs
1 Rack: 48U 750mmx1200mm
About Super Micro Computer, Inc.
Supermicro (NASDAQ: SMCI) is a global leader in Application-Optimized Total IT Solutions. Founded and operating in San Jose, California, Supermicro is committed to delivering first-to-market innovation for Enterprise, Cloud, AI, and 5G Telco/Edge IT Infrastructure. We are a Total IT Solutions manufacturer with server, AI, storage, IoT, switch systems, software, and support services. Supermicro's motherboard, power, and chassis design expertise further enables our development and production, enabling next-generation innovation from cloud to edge for our global customers. Our products are designed and manufactured in-house (in the US, Taiwan, and the Netherlands), leveraging global operations for scale and efficiency and optimized to improve TCO and reduce environmental impact (Green Computing). The award-winning portfolio of Server Building Block Solutions® allows customers to optimize for their exact workload and application by selecting from a broad family of systems built from our flexible and reusable building blocks that support a comprehensive set of form factors, processors, memory, GPUs, storage, networking, power, and cooling solutions (air-conditioned, free air cooling or liquid cooling).
Supermicro, Server Building Block Solutions, and We Keep IT Green are trademarks and/or registered trademarks of Super Micro Computer, Inc.
All other brands, names, and trademarks are the property of their respective owners.
abrooklyn
1 month ago
Supermicro Joins the Prestigious Nasdaq 100 Index® – Recognition of AI Innovation, Growth, Sustainability, and Global Market Capitalization
Source: Business Wire
Consistent Expansion, Technology Leadership, and Commitment to Excellence for Top-Tier Clients Propels USA Manufacturer Supermicro to the Nasdaq 100 Index
Supermicro, Inc. (NASDAQ: SMCI), a Total IT Solution Provider for AI, Cloud, Storage, and 5G/Edge, has been selected to join the renowned Nasdaq 100 Index, which tracks 100 of the largest non-financial companies listed on the Nasdaq, requiring companies to maintain a weighting of at least 0.1% of the index's value. After hitting record highs recently, the Nasdaq 100 index underscores a company's significant impact, profitability, and leadership.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240715720569/en/
(Graphic: Business Wire)
(Graphic: Business Wire)
"Supermicro is honored to be included in the acclaimed Nasdaq 100 Index," said Charles Liang, president and CEO of Supermicro. "This milestone is a testament to our relentless dedication, innovative spirit, and unwavering commitment to exceeding customer expectations. We remain focused on driving first-to-market innovation, green computing, leading the emerging AI market, and sustainable growth while creating long-term shareholder value."
Learn more about Supermicro at www.supermicro.com.
As Supermicro continues to grow, it has achieved significant milestones, including joining the S&P 500, seeing explosive revenue growth year-over-year, continuous investment in technology and customer-centric solutions, and expanding with new manufacturing facilities to meet the growing demand with faster customer productivity. Recently our leading DLC solutions aim to grow our market share from 1% to 30% in one year.
About Super Micro Computer, Inc.
Supermicro (NASDAQ: SMCI) is a global leader in Application-Optimized Total IT Solutions. Founded and operating in San Jose, California, Supermicro is committed to delivering first-to-market innovation for Enterprise, Cloud, AI, and 5G Telco/Edge IT Infrastructure. We are a Total IT Solutions manufacturer with server, AI, storage, IoT, switch systems, software, and support services. Supermicro's motherboard, power, and chassis design expertise further enable our development and production, enabling next-generation innovation from cloud to edge for our global customers. Our products are designed and manufactured in-house (in the US, Taiwan, and the Netherlands), leveraging global operations for scale and efficiency and optimized to improve TCO and reduce environmental impact (Green Computing). The award-winning portfolio of Server Building Block Solutions® allows customers to optimize for their exact workload and application by selecting from a broad family of systems built from our flexible and reusable building blocks that support a comprehensive set of form factors, processors, memory, GPUs, storage, networking, power, and cooling solutions (air-conditioned, free air cooling or liquid cooling).
Supermicro, Server Building Block Solutions, and We Keep IT Green are trademarks and/or registered trademarks of Super Micro Computer, Inc.
All other brands, names, and trademarks are the property of their respective owners.
SMCI-F
View source version on businesswire.com: https://www.businesswire.com/news/home/20240715720569/en/
Media Contact:
Greg Kaufman
Super Micro Computer, Inc.
PR@supermicro.com
abrooklyn
2 months ago
Supermicro Adding 3 New Manufacturing Facilities in Silicon Valley and Globally to Support the Growth of AI and Enterprise Rack Scale Liquid-Cooled Solutions
Source: PR Newswire (US)
Expanded Manufacturing Footprint is Targeted to Bring Global Liquid-Cooled Rack Capacity to More than Double Today's 1,000 AI SuperClusters Shipped Per Month
SAN JOSE, Calif., June 18, 2024 /PRNewswire/ -- Supermicro, Inc. (NASDAQ: SMCI), a Total IT Solution Provider for AI, Cloud, Storage, and 5G/Edge, continues to expand in Silicon Valley with new campuses as the demand for liquid-cooled data center increases. The new facilities will be part of the new liquid-cooled ecosystem, reducing the time needed to deliver to customers worldwide. These new facilities will focus on delivering entire plug-and-play liquid-cooled solutions, from systems to racks to water towers. With AI factories becoming more prevalent, liquid-cooled data centers are critical to meet these increasing customer demands for AI-focused workloads. Liquid-cooled data centers increase the amount of AI compute performance per watt, resulting in more performance per data center. In addition, electricity consumption and environmental impact are reduced, and operational expenses can be up to 40% lower compared to traditional, air-cooled data centers.
"Supermicro has the highest performing generative deep learning and inferencing AI platform and clusters which benefit from liquid-cooled technologies," said Charles Liang, president and CEO of Supermicro. "Many data center owners are looking for electricity saving Direct Liquid-Cooled solutions. Supermicro is developing building block liquid-cooled solutions for AI factories and the HPC market. We anticipate that liquid-cooled data centers will grow from historically less than 1% to an expected 15% and up to 30% of all data center installations in the next two years. This expansion positions us to capture the majority share of that growth. New data centers will run more efficiently, reducing their carbon footprint, and can be virtually free, compared to air-cooled data centers, with significant operational savings realized through lower electricity use over time."
To learn more about Supermicro's Building Block liquid cooling solutions, click here
"We are thrilled that Supermicro is expanding in San Jose and leading the charge to reduce the impact of data centers," said Matt Mahan, Mayor of San Jose, CA. "Supermicro represents the best of Silicon Valley as a company that continues to push the boundaries of both technology and sustainability."
Supermicro, as a total solution provider, supplies all the components needed for an efficient and optimized liquid-cooled solution. From the Supermicro optimized cold plates to the coolant distribution manifolds (CDMs) to the redundant coolant distribution units (CDUs) and even the external cooling tower, the entire end-to-end solution is designed and tested by Supermicro engineers, which results in a higher quality solution, enabling organizations to get more productive sooner.
Many Supermicro servers are explicitly designed for high-performance NVIDIA GPUs for AI processing, such as the very high-density 4U-8GPU systems, the Intel CPU-based SYS-421GE-TNHR2-LCC, or the AMD CPU-based AS -4125GS-TNHR2-LCC. In addition, many Supermicro servers, such as the popular 8U-8GPU systems, are liquid-cooled ready, as well as NVIDIA-based 1U ARS-111GL-NHR-LCC, which includes the Grace Hopper Superchip. Liquid-cooled servers include the 8U-20-node SuperBlade®, which provides the highest CPU and GPU computing density available today. The 2U-4 node Supermicro BigTwin® and the 4U-8 node FatTwin® multi-node servers are optimized for liquid cooling and are in high volume production today.
Supermicro continues to work closely with data center operators to match the right server technology to the demanding workloads, which are unique to each organization and cloud service provider. Many of these application-optimized servers are designed to be liquid-cooled, which reduces the overall operational cost of the data center.
Many customers have limited experience handling liquid inside data centers, requiring vendors to perform the installation and acceptance testing along with future maintenance and warranty service. On-site support is critical, and Supermicro's service organization is highly trained in liquid-cooling deployments.
About Super Micro Computer, Inc.
Supermicro (NASDAQ: SMCI) is a global leader in Application-Optimized Total IT Solutions. Founded and operating in San Jose, California, Supermicro is committed to delivering first-to-market innovation for Enterprise, Cloud, AI, and 5G Telco/Edge IT Infrastructure. We are a Total IT Solutions manufacturer with server, AI, storage, IoT, switch systems, software, and support services. Supermicro's motherboard, power, and chassis design expertise further enable our development and production, enabling next-generation innovation from cloud to edge for our global customers. Our products are designed and manufactured in-house (in the US, Taiwan, and the Netherlands), leveraging global operations for scale and efficiency and optimized to improve TCO and reduce environmental impact (Green Computing). The award-winning portfolio of Server Building Block Solutions® allows customers to optimize for their exact workload and application by selecting from a broad family of systems built from our flexible and reusable building blocks that support a comprehensive set of form factors, processors, memory, GPUs, storage, networking, power, and cooling solutions (air-conditioned, free air cooling or liquid cooling).
Supermicro, Server Building Block Solutions, and We Keep IT Green are trademarks and/or registered trademarks of Super Micro Computer, Inc.
All other brands, names, and trademarks are the property of their respective owners.
SMCI-F
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