Super Micro blamed lower-than-expected preliminary results on decisions from clients during the quarter.
It's another blow for the server maker, which last year had to contend with delayed financial filings and short-seller reports. The company said on Tuesday that in the latest quarter,"some delayed customer platform decisions moved sales" into the following period.
shares fell as much as 19% on Tuesday after the server maker announced preliminary results for the fiscal third quarter that were lower than analysts had projected. SIGN UP "During Q3 some delayed customer platform decisions moved sales into Q4," the company said in the statement. In addition, the company faced higher inventories from older products, as well as expedite fees. The two factors narrowed Super Micro's preliminary gross margin by 220 points from the prior quarter. The pre-announcement is the latest blow for Super Micro, which has been mired in controversy for the past year due to delayed financial filings and troubling reports from short sellers. In February, the company filed its financials for its fiscal 2024 year and the first two quarters of fiscal 2025 just in time to meet Nasdaq's deadline to stay listed. Last year, after Super Micro delayed its annual report, itPalantir is soaring while its tech peers are sinking. Here's why After more than tripling in 2023, thanks to the company's position in the AI boom and its sales of servers packed with Nvidia's processors, Super Micro shares plummeted in the second third and fourth quarters last year, wiping out more than 80% of its market cap. "We have confidence that our calendar year 2025 growth could be a repeat of calendar year 2023, if not better, assuming the supply chain can keep pace with demand," Charles Liang, Super Micro's CEO, told analysts on a conference call in February. Prior to Tuesday's announcement, the stock was up 18% in 2025, rallying as the broader tech market was in decline. Super Micro will go over the results with analysts on a conference call at 5 p.m. ET on Tuesday, May 6.Snap plunges 14% on 'headwinds' to start quarter, inability to offer guidanceLA County
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