Super Micro Computer (SMCI) CEO Says That “We Are Asking NVIDIA Every Day” For Blackwell Chips, Stock Tanks On Muted Guidance And Renewed Delisting Fears
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Super Micro Computer (SMCI), a retailer of high-performance servers and liquid-cooled AI racks, has chosen to release its latest quarterly earnings at a time when investors have been forced to view every financial update from the company with a hefty dose of skepticism that stems not only from Hindenburg Research's hard-hitting report back in August but also from the series of events in its aftermath, including SMCI's withholding of its annual report, the launch of a preliminary DOJ investigation into the company's purported accounting malpractices, the exodus of its second auditor in around 18 months, and an imminent de-listing from the Nasdaq exchange.
To make matters worse, Super Micro Computer failed to reassure investors via the contents of its preliminary earnings release and the ensuing earnings call.
Related Story NVIDIA Starts Diverting Orders Away From Super Micro Computer (SMCI) As A Potential Delisting And DOJ Investigation Loom Large
To wit, Super Micro Computer has now reported that it likely earned a quarterly revenue of between $5.9 billion and $6 billion in its fiscal Q1'25, as per the preliminary tabulation. Moreover, its GAAP gross margin for the quarter will likely be computed at 13.3 percent.
For its fiscal Q2'25, Super Micro Computer expects to earn a revenue of between $5.5 billion and $6.1 billion vs. consensus estimates of around $6.79 billion.
For the benefit of those who might not be aware, Super Micro Computer's travails began in August when Hindenburg Research highlighted instances of alleged accounting fraud and corporate governance malfeasance in a detailed report. SMCI then delayed the filing of its annual report for the fiscal year that ended on the 30th of June, presumably in a bid to undertake an internal review.
On the 17th of September, the Nasdaq exchange informed Super Micro Computer that
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