Group 1: Earnings Performance - Super Micro Computer (SMCI) reported quarterly earnings of $0.41 per share, missing the Zacks Consensus Estimate of $0.44 per share, and down from $0.63 per share a year ago, representing an earnings surprise of -6.82% [1] - The company posted revenues of $5.76 billion for the quarter ended June 2025, missing the Zacks Consensus Estimate by 3.82%, compared to year-ago revenues of $5.31 billion [2] - Over the last four quarters, Super Micro has surpassed consensus EPS estimates two times and topped consensus revenue estimates two times [2] Group 2: Stock Performance and Outlook - Super Micro shares have increased approximately 91% since the beginning of the year, significantly outperforming the S&P 500's gain of 7.6% [3] - The company's earnings outlook is crucial for assessing future stock performance, with current consensus EPS estimates at $0.56 on $6.61 billion in revenues for the coming quarter and $2.51 on $29.63 billion in revenues for the current fiscal year [7] Group 3: Industry Context - The Computer-Storage Devices industry, to which Super Micro belongs, is currently ranked in the top 21% of over 250 Zacks industries, indicating a favorable industry outlook [8] - Another company in the same industry, Quantum Corp. (QMCO), is expected to report a quarterly loss of $0.15 per share, reflecting a year-over-year change of +91.7%, with revenues projected at $73.7 million, up 3.3% from the previous year [9]

Financial Data and Key Metrics Changes - Fiscal year 2025 revenues reached $22 billion, reflecting a 47% year-on-year growth [8][20] - Q4 fiscal year 2025 revenues were $5.8 billion, up 8% year-over-year and 25% quarter-over-quarter [20] - Non-GAAP earnings per share for Q4 were $0.41, down from $0.50 year-over-year, primarily due to tariff impacts [9][25] - Non-GAAP gross margin for Q4 was 9.6%, slightly down from 9.7% in Q3 [23] Business Line Data and Key Metrics Changes - Enterprise channel segment revenues in Q4 were $2.1 billion, representing 36% of total revenues, up 7% year-over-year [20] - OEM appliance and large data center segment revenues were $3.7 billion, representing 63% of Q4 revenues, up 40% quarter-over-quarter [21] - The emerging 5G telco edge IoT segment accounted for 1% of Q4 revenues [21] Market Data and Key Metrics Changes - By geography, the US represented 38% of Q4 revenues, Asia 42%, Europe 15%, and the rest of the world 5% [22] - Year-over-year, US revenues decreased by 33%, while Asia increased by 91% and Europe by 66% [22] Company Strategy and Development Direction - The company is focusing on AI and green computing solutions, with a strategic emphasis on enterprise IoT and telco markets [10][16] - Introduction of the Data Center Building Block Solution (DCBBS) aims to simplify customer data center infrastructure and reduce time to market [12][14] - The company anticipates revenue between $6 billion and $7 billion for Q1 fiscal year 2026, with a long-term goal of at least $33 billion for the full fiscal year 2026 [18][28] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in overcoming previous capital constraints and expects improved chip availability from vendors like NVIDIA [34][35] - The company is optimistic about growth in the AI server market and believes it can achieve both revenue growth and margin expansion [40][66] - Management highlighted the importance of the DCBBS in accelerating customer deployments and enhancing profitability [42][66] Other Important Information - The company completed a convertible bond offering raising $2.3 billion in gross proceeds [26] - Q4 cash flow generated from operations was $864 million, compared to $627 million in the previous quarter [25] Q&A Session Summary Question: What are the bottlenecks for sales and revenue outlook? - Management acknowledged chip availability and resource constraints from vendors as potential bottlenecks but expects improvements [34][35] Question: What is the strategy for competing in the AI server market? - The focus is on both revenue growth and margin expansion through comprehensive solutions like DCBBS [40][42] Question: Can you discuss the opportunity with Sovereigns? - Management sees significant growth potential in building AI infrastructure for various countries, particularly in Europe and the Middle East [46][49] Question: What is the expected gross margin for the full year? - Management is optimistic about margin improvement through DCBBS and other solutions but did not provide specific forecasts [73][74] Question: What is the expected contribution of DCBBS to revenue? - Management anticipates that DCBBS will gradually grow and hopes it will represent a significant portion of revenue in the future [87][101]

Financial Data and Key Metrics Changes - For fiscal year 2025, the company reported a revenue of $22 billion, reflecting a 47% year-on-year growth [7][20] - Non-GAAP earnings per share decreased to $0.41 from $0.50 year-over-year, primarily due to tariff impacts [8][25] - The fourth quarter revenue was $5.8 billion, up 8% year-over-year and 25% quarter-over-quarter [20] - Non-GAAP gross margin for Q4 was 9.6%, slightly down from 9.7% in Q3, while the full year gross margin was 11.2%, down from 13.9% in the previous year [23][25] Business Line Data and Key Metrics Changes - The enterprise channel segment generated $2.1 billion in Q4, accounting for 36% of revenues, while the OEM appliance and large data center segment contributed $3.7 billion, representing 63% of Q4 revenues [20][21] - For fiscal year 2025, enterprise channel revenues grew 38%, while the OEM appliance and large data center segment grew 50% [21] - The emerging 5G telco edge IoT segment represented only 1% of total revenues in Q4 [21] Market Data and Key Metrics Changes - By geography, the US accounted for 38% of Q4 revenues, Asia 42%, Europe 15%, and the rest of the world 5% [22] - Year-over-year, US revenues decreased by 33%, while Asia saw a 91% increase, Europe increased by 66%, and the rest of the world decreased by 3% [22] Company Strategy and Development Direction - The company is focusing on AI platforms and infrastructure, with a comprehensive portfolio optimized for the latest GPU technologies [10] - The introduction of the Data Center Building Block Solution (DCBBS) aims to simplify customer data center infrastructure and reduce time to market [12][14] - The company is strategically expanding into enterprise IoT and telco markets to improve gross and net margins over time [15][17] Management's Comments on Operating Environment and Future Outlook - Management anticipates revenue between $6 billion and $7 billion for Q1 fiscal year 2026, driven by momentum in AI and software services [18][29] - For fiscal year 2026, the company expects total revenue of at least $33 billion, supported by an expanding customer base and product innovations [18][29] - Management expressed confidence in overcoming previous capital constraints and expects improved chip availability from vendors like NVIDIA [36][38] Other Important Information - The company completed a convertible bond offering raising $2.3 billion in gross proceeds [27] - The cash position at the end of Q4 was $5.2 billion, with a net cash position of $412 million [27] Q&A Session Summary Question: What are the bottlenecks for sales and revenue outlook? - Management acknowledged chip availability and vendor resource constraints as potential bottlenecks but expressed optimism for improved availability [35][36] Question: What is the strategy for competing in the AI server market? - The focus is on both revenue growth and margin expansion through comprehensive solutions like DCBBS [41][43] Question: What is the expected impact of sovereign AI infrastructure opportunities? - Management sees significant growth potential in sovereign AI infrastructure projects, particularly in Europe and the Middle East [44][46] Question: What is the outlook for gross margins in fiscal year 2026? - Management is optimistic about achieving long-term gross margin targets of 14% to 17% through higher-margin enterprise and IoT solutions [64][66] Question: How will the data center building block solutions impact revenue? - Management expects gradual growth in revenue from DCBBS, with potential to represent a significant portion of future sales [101][106]

Financial Performance - Revenue for Fiscal Q4 2025 reached $5757 million, a 25% increase QoQ and an 8% increase YoY[28] - Non-GAAP gross margin for Fiscal Q4 2025 was 96%, a decrease of 10 bps QoQ and 70 bps YoY[28] - Non-GAAP earnings per share for Fiscal Q4 2025 were $041, up $010 QoQ but down $013 YoY[28] - Cash flow from operations was $864 million, up $237 million QoQ but down $1511 million YoY[28] Revenue Mix - Server and Storage Systems revenue was $5618 million, up 26% QoQ and 10% YoY[28] - Subsystems & Accessories revenue was $139 million, down 1% QoQ and 48% YoY[28] Future Outlook - The company projects revenue between $60 billion and $70 billion for FQ1 2026[30] - The company anticipates GAAP diluted net EPS between $030 and $042 and non-GAAP diluted net EPS between $040 and $052 for FQ1 2026[30] - The company expects at least $33 billion in revenue for FY26[30] Strategic Initiatives - The company is targeting ~30%+ of global new data center deployments to use DLC solutions in the next 12 months[10]

Core Insights - Super Micro Computer shares fell 15% in extended trading after disappointing fiscal fourth-quarter results and weak earnings guidance [1] - The company reported a 7.5% increase in revenue for the quarter ending June 30, 2023 [1] Financial Performance - For the current quarter, Super Micro expects adjusted earnings per share between $0.40 and $0.52, with revenue projected at $6 billion to $7 billion, while analysts anticipated $0.59 per share and $6.6 billion in revenue [2] - The company reported adjusted earnings per share of $0.41, which was below the expected $0.44, and revenue of $5.76 billion, also below the expected $5.89 billion [4] Future Outlook - For the fiscal year 2026, Super Micro anticipates at least $33 billion in revenue, exceeding the LSEG consensus of $29.94 billion [2] - Demand for Super Micro's data center servers, particularly those equipped with Nvidia technology for AI workloads, surged in 2023 but has since slowed [3] Market Performance - As of the latest close, Super Micro shares have increased approximately 88% in 2025, significantly outperforming the S&P 500 index, which gained 7% [3] - The company managed to avoid delisting from Nasdaq despite delays in quarterly financial filings and the departure of its auditor [3]

About this content About Angela Harmantas Angela Harmantas is an Editor at Proactive. She has over 15 years of experience covering the equity markets in North America, with a particular focus on junior resource stocks. Angela has reported from numerous countries around the world, including Canada, the US, Australia, Brazil, Ghana, and South Africa for leading trade publications. Previously, she worked in investor relations and led the foreign direct investment program in Canada for the Swedish government ...

Core Insights - Super Micro Computer, Inc. is set to release its fourth-quarter earnings results on August 5, with analysts expecting earnings of 44 cents per share, a decrease from 62 cents per share in the same quarter last year [1] - The company anticipates quarterly revenue of $5.91 billion, an increase from $5.31 billion year-over-year [1] Company Performance - The upcoming earnings results are viewed as a crucial indicator of Super Micro Computer's ability to adapt in a challenging environment for AI hardware suppliers [2] - The company's stock rose by 2.8%, closing at $58.23 on the preceding Monday [2] Analyst Ratings - Wedbush analyst Matt Bryson has a Neutral rating with a price target of $30 [7] - JP Morgan analyst Samik Chatterjee maintains a Neutral rating, raising the price target from $35 to $46 [7] - Citigroup analyst Asiya Merchant also holds a Neutral rating, increasing the price target from $37 to $52 [7] - B of A Securities analyst Ruplu Bhattacharya initiated coverage with an Underperform rating and a price target of $35 [7] - Mizuho analyst Vijay Rakesh maintains a Neutral rating, raising the price target from $40 to $47 [7]

Core Viewpoint - Super Micro Computer is expected to report its fourth-quarter fiscal year 2025 results, with analysts projecting revenue of approximately $6.13 billion and earnings of $0.75 per share, despite a bearish sentiment and downward revisions in price targets [1][2]. Group 1: Financial Performance Expectations - The anticipated revenue for the fourth quarter is around $6.13 billion, with earnings projected at $0.75 per share [1]. - The company had previously estimated revenue between $5.6 billion and $6.4 billion, with non-GAAP EPS expected in the range of $0.40 to $0.50 [1]. Group 2: Analyst Sentiment and Ratings - Sentiment has turned more bearish, with many analysts revising price targets downward; Super Micro has missed revenue expectations in five of the past eight quarters [2]. - Wedbush analyst Matt Bryson maintained a Neutral rating with a price target of $30, citing concerns over limited visibility and margin pressures [2]. - According to TipRanks data, the stock has a Hold consensus rating, with 5 Buy ratings, 7 Hold recommendations, and 2 Sell ratings [5]. Group 3: Market Dynamics and Opportunities - Spending from neocloud providers, AI model builders, and government-backed buyers is increasing, with more customers turning to OEMs like Super Micro for AI server needs [3]. - Bryson noted that Nvidia prioritizing GB200 shipments to OEMs could benefit Super Micro [3]. - Citi raised its price target to $52 from $37, highlighting the ramp-up of GB200/300 products and growing demand in sovereign and enterprise AI markets [4]. Group 4: Future Projections - Bryson believes Super Micro could eventually achieve $10 billion in quarterly sales, although demand visibility remains unclear due to reliance on related parties for key components [4]. - The average 12-month price target for SMCI stock is $42.85, indicating a potential decline of 24.35% from current levels, with targets ranging from $70.00 to $24.00 [8].

智通财经APP获悉，花旗将超微电脑(SMCI.US)的目标价从37美元上调至52美元，但维持"中性"评级不 变。花旗分析师表示，对人工智能(AI)服务器的需求正在改善。超微电脑管理层对在未来两个季度内完 成"当前的交付承诺"持乐观态度，因为Blackwell GPU 供应限制正在缓解。 据悉，超微电脑将于美东时间8月5日美股盘后发布2025财年第四季度业绩报告。根据TipRanks预测数 据，华尔街分析师预计该公司每股收益为0.45美元，同比下滑29%;但营收有望同比增长13%，达到59.8 亿美元。 尽管如此，由于戴尔科技(DELL.US)和慧与科技(HPE.US)的竞争，分析师仍然对超微电脑的利润率感到 担忧。 花旗预测，超微电脑2025财年第四季度营收将达到60.7亿美元，同比增长13.4%，环比增长32%;预计每 股收益为0.45美元，与市场普遍预期基本一致。 花旗还预计该公司2026财年第一季度营收将增长至70.2亿美元，每股收益将达到0.65美元，这两项数据 均高于市场预期。 ...

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