Supermicro Announces Third Quarter Fiscal Year 2022 Financial Results 

SAN JOSE, Calif., May 4, 2022 — Super Micro Computer, Inc. (Nasdaq: SMCI), a global leader in high-performance, high-efficiency server and storage technology and green computing, has announced financial results for its third quarter of fiscal year 2022 ended March 31, 2022.

Third Quarter Fiscal Year 2022 Highlights

• Net sales of $1.36 billion versus $1.17 billion in the second quarter of fiscal year 2022 and $896 million in the same quarter of last year.

• Gross margin of 15.5% versus 14.0% in the second quarter of fiscal year 2022 and 13.7% in the same quarter of last year.

• Net income of $77 million versus $42 million in the second quarter of fiscal year 2022 and $18 million in the same quarter of last year.

• Diluted net income per common share of $1.43 versus $0.78 in the second quarter of fiscal year 2022 and $0.35 in the same quarter of last year.

• Non-GAAP diluted net income per common share of $1.55 versus $0.88 in the second quarter of fiscal year 2022 and $0.50 in the same quarter of last year.

• Cash flow used in operations for the third quarter of fiscal year 2022 of $228 million and capital expenditures of $11 million.

Non-GAAP gross margin for the third quarter of fiscal year 2022 was 15.6%, which adds back stock-based compensation expenses of $0.5 million. Non-GAAP diluted net income per common share for the third quarter of fiscal year 2022 was $1.55, which adds back stock-based compensation expenses of $7.7 million, litigation expenses of $2.2 million, and $2.0 million of litigation settlement costs net of the related tax effects.

As of March 31, 2022, total cash and cash equivalents was $247 million and total bank debt was $547 million.

“This is Supermicro’s fourth consecutive quarter of revenues exceeding a billion dollars and with a trailing four quarter revenue run rate of $4.6 billion, it gives me strong confidence that we are well ahead of our long-term targets,” said Charles Liang, Chairman and CEO. “Our robust growth and EPS progress demonstrates the efficiency of our global operational leverage and our customers recognizing the value of our rack-scale Total IT Solutions in key market segments across AI, enterprise, cloud, edge/telco and others. Along with our product optimization, time to market advantage, and green computing cost-savings presented by our Total IT Solutions, our growth momentum should continue to fuel our emergence as the leading company in the industry in the coming quarters and years ahead.”

Business Outlook and Management Commentary

For the fourth quarter of fiscal year 2022 ending June 30, 2022, the Company expects net sales of $1.4 billion to $1.48 billion, GAAP net income per diluted share of $1.45 to $1.64 and non-GAAP net income per diluted share of $1.51 to $1.69. The Company’s projections for GAAP and non-GAAP net income per diluted share assume a tax rate of approximately 17.4% and 19.4%, respectively, and a fully diluted share count of 54.3 million shares for GAAP and fully diluted share count of 55.7 million shares for non-GAAP. The outlook for Q4 of fiscal year 2022 GAAP net income per diluted share includes approximately $8.0 million in expected stock-based compensation expense and $1.0 million in other expenses that are excluded from non-GAAP net income per diluted share.

For fiscal year 2022 ending June 30, 2022, the Company raises its previous guidance of net sales from $4.2 billion to $4.6 billion to a new range of $4.96 billion to $5.04 billion, and raises its GAAP net income per diluted share of at least $2.77 to a new range of $4.16 to $4.35 and non-GAAP net income per diluted share of at least $3.20 to a new range of $4.53 to $4.71. The Company’s projections for GAAP and non-GAAP net income per diluted share assume a tax rate of approximately 16.5% and 18.7%, respectively, and a fully diluted share count of 53.6 million shares for GAAP and fully diluted share count of 55.1 million shares for non-GAAP. The outlook for fiscal year 2022 GAAP net income per diluted share includes approximately $39.0 million in expected stock-based compensation expense and other expenses that are excluded from non-GAAP net income per diluted share.

To read the full release, visit this link.

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 transforming to being a Total IT Solutions provider with server, AI, storage, IoT and switch systems, software and services while continuing to deliver advanced high-volume motherboard, power and chassis products. The products are designed and manufactured in-house (in US, Taiwan and 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).

Source: Super Micro Computer, Inc.