Super Micro Computer shares fell on Tuesday as the company nears a deadline to file audited financial reports or face delisting from the Nasdaq exchange. Earlier this month, Super Micro CEO Charles Liang expressed confidence that the company could file the necessary reports by February 25, a deadline set by Nasdaq. The company could also request an additional extension of up to 180 days.
The firm must file its audited annual report for fiscal 2024 and the first two quarters of fiscal 2025. If Super Micro fails to meet the deadline, its stock could be delisted from Nasdaq. Super Micro representatives declined to comment when reached for inquiries.
This situation comes after Super Micro delayed the release of its annual report for the fiscal year ending in June. The company’s previous auditor, Ernst & Young, resigned due to governance issues, and BDO was appointed as the new auditor in November.
Filing audited reports by deadline
Additionally, Super Micro has been the target of activist short seller Hindenburg Research, contributing to its stock volatility. The company’s shares experienced a significant drop last year, plummeting to about $18 per share in November after a peak in March 2023. Despite these challenges, Super Micro’s stock price has risen over 55% so far in 2025.
The company’s revenue surge, driven by the boom in artificial intelligence, has propelled it into the spotlight. A major factor in its growth has been the sale of systems based on Nvidia graphics processing units (GPUs) used in building server clusters for AI applications, with customers including Elon Musk’s xAI. According to unaudited financials, Super Micro’s sales more than doubled in fiscal 2024 to $14.94 billion.
Analysts are predicting approximately $5.37 billion in revenue for the current quarter, marking a nearly 40% increase compared to the same period last year. The SEC’s system for accepting filings can receive documents as late as 10 p.m. ET, and depending on how late the filing is made, it can be given the next date.
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