Super Micro Computer’s stock surged 19% after the company successfully filed its delayed financial results, meeting Nasdaq’s deadline. The auditor, BDO, confirmed the financial statements’ accuracy for the fiscal year ending June 30, 2024. The company also filed audited results for the first two quarters of fiscal 2025, regaining Nasdaq compliance. Super Micro’s annual sales more than doubled to $14.99 billion, with net income rising to $1.15 billion. The company acknowledged internal control weaknesses, including IT issues and staffing concerns, and outlined plans for improvements. Despite risks like potential litigation, the positive financial report alleviated fears of delisting. The company’s growth, driven by AI server demand, was previously overshadowed by governance concerns and auditor changes.
