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Charles Liang, CEO of Super Micro Computer Inc., during the Computex Conference in Taipei, Taiwan, on June 5, 2024.
Annabelle Chih | Bloomberg | Getty images
Super Micro Computer He reported his delayed financial results on Tuesday just in time to meet the deadline of Nasdaq listing. The server manufacturer’s actions increased by 22% in the extended trade after the presentation.
“In our opinion, the consolidated financial statements have fairly, in all material aspects, the company’s financial position as of June 30, 2024,” BDO, company auditor, company, wrote in the presentationadding that the results are “in accordance with the generally accepted accounting principles” in the US.
Super Micro presented updated and audited finances with the US stock and values commission. Your prosecutor 2024ending in June and the first two Prosecutor’s Office 2025 of the Company. The presentation reduces any short -term possibility that the server manufacturer can be Delist of the NasdaqAn overhang that had weighed in the price of Super Micro’s shares.
“The company has received the correspondence of Nasdaq personnel that the company has recovered compliance with the presentation requirements, and the matter is now closed,” Super Micro He said in a press release.
Last year, after the company delayed its annual report, He lost his auditorErnst & Young, citing governance problems. Super Micro had until Tuesday to become financial and audited with the SEC.
Super Micro said in a note of management as part of the presentation that had identified material weaknesses in internal controls on financial reports, including IT issues, the lack of documentation on the manual entries of the magazine and the insufficient controls for address segregation of staff tasks. Super Micro said he is hiring additional accounting and audit employees, as well as updating their IT systems.
Super Micro also said in Tuesday’s presentation that a special committee of its Board that supervises its financial statements did not believe that EY’s resignation was “backed by the facts” examined by the committee.
In December, Super Micro said a review found “There is no evidence of misconduct“At the same time, he eliminated his former financial director, David Weigand. The company has not appointed a new CFO.
Even so, the business has been growing rapidly due to the very high demand of NVIDIA graphics processing units, or GPU, which are used to develop artificial intelligence. Super Micro builds systems around the NVIDIA GPUs, and Elon Musk’s Xai is a client.
According to the company’s updated and audited finances, Super Micro’s sales doubled in their prosecutor 2024 to $ 14.99 billion.
Super Micro said that it still faces risks related to its late financial reports, including litigation, damage to reputation and potentially lower credit grades.
The action has been recovered so far this year of a brutal the last nine months of 2023. Before the increase in the postaltics on Tuesday, it rose 52% so far in 2025.
