February 13, 2025 – Shares of Super Micro Computer Inc. (NASDAQ: SMCI) rebounded on Wednesday, rising 4.6% to $40.29, as investors focused on the company’s strong long-term revenue outlook rather than ongoing accounting concerns. This gain followed a sharp 9.5% decline on Tuesday, as broader market sentiment remained cautious due to hotter-than-expected inflation data that pushed the S&P 500 down 0.8%.
Optimistic Revenue Projections Offset Earnings Miss
Super Micro issued a business update after the market closed on Tuesday, revealing that its fiscal second-quarter adjusted earnings and revenue fell short of analyst expectations, according to FactSet data. However, the company’s ambitious forecast for fiscal 2026 appears to have reassured investors.
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Super Micro projects revenue of $40 billion in fiscal 2026, significantly surpassing analysts’ consensus estimate of $29.2 billion. The company, a key player in AI server manufacturing, continues to benefit from growing demand in the artificial intelligence sector.
Delisting Threat Looms Over Late Filings
Despite its promising outlook, Super Micro remains under pressure to meet critical financial reporting deadlines. The company has yet to file its annual report for the fiscal year ended June 30, 2024, as well as its first-quarter earnings for the period ending September 30.
Super Micro stated that it is working “diligently” toward submitting these filings by February 25. However, failure to meet this deadline could result in Nasdaq delisting the stock, adding another layer of risk for investors.
The delay stems from accounting concerns flagged by its former auditor, Ernst & Young, which resigned in October 2024 after identifying weaknesses in Super Micro’s financial reporting controls. An internal investigation found no evidence of fraud, and the company has since hired BDO as its new auditor. Additionally, Super Micro reiterated that no previously issued financial statements require restatements.
Regulatory Scrutiny Adds Uncertainty
Another source of uncertainty emerged Tuesday when Super Micro disclosed that it had received subpoenas from both the U.S. Department of Justice (DOJ) and the Securities and Exchange Commission (SEC) in late 2024. The subpoenas requested documents related to allegations raised in an August 2024 short-seller report.
The company stated that it is cooperating with the investigation but did not provide further details. Regulatory probes can add significant volatility to a stock, particularly when tied to financial reporting concerns.
What’s Next for Super Micro?
While Super Micro’s strong revenue forecast signals confidence in its future growth, the company must first navigate its immediate financial reporting and regulatory challenges. Investors will be watching closely to see if Super Micro meets its February 25 deadline and whether additional details emerge from the DOJ and SEC investigations.
 stock rises as investors focus on a $40B revenue forecast, despite accounting delays, Nasdaq delisting risks, and DOJ/SEC subpoenas.){kind=link}