Q4 2024 Super Micro Computer Inc Earnings Call Transcript
Key Points
- Super Micro Computer Inc (SMCI) reported record quarterly revenue of $5.31 billion, marking a 143% year-over-year growth.
- Fiscal 2024 revenue reached $14.94 billion, a 110% increase from the previous year.
- The company has been included in the Nasdaq-100 Index, reflecting its strong market performance.
- Super Micro Computer Inc (SMCI) is leading in AI infrastructure, particularly with its DLC liquid cooling technology, which is expected to become a mainstream solution.
- The company forecasts fiscal 2025 revenue between $26 billion to $30 billion, indicating continued strong growth.
- Operating margin for Q4 was 7.8%, lower than expected due to a higher mix of hyperscale data center business and expedited costs for DLC liquid cooling components.
- A shortage of key components delayed about $800 million of revenue, impacting the EPS for June.
- Non-GAAP gross margin for Q4 was 11.3%, down from 15.6% in Q3, due to product and customer mix and higher initial costs in ramping production of new DLC AI GPU clusters.
- The company experienced a negative free cash flow of $2.5 billion for fiscal year 2024 due to strong revenue growth and working capital needs.
- Interest expenses and higher operating expenses impacted the financial performance, with Q4 GAAP diluted earnings per share of $5.51 below the guidance range.
Thank you for standing by. My name is Harry, and I will be your conference operator today. At this time, I would like to welcome everyone to the Super Micro Computer, Incorporated, SMCI US Q4 2024 earnings call. With us today, Charles Liang, Founder, President and Chief Executive Officer; David Weigand, CFO; and Michael Staiger, Vice President of Corporate Development. (Operator Instructions)
Good afternoon, and thank you for attending Super Micro's call to discuss financial results for the fourth quarter, which ended June 30, 2024. With me today are Charles Liang, Founder, Chairman, and Chief Executive Officer; and David Weigand, Chief Financial Officer. At the end of today's prepared remarks, we'll have a Q&A session for sell-side analysts.
Our press release was issued after the close of market and is posted on our website where this call is being simultaneously webcast. The slides that accompany this webcast can be downloaded at ir.supermicro.com. These include
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