Super Micro Computer Stock Rebounds on Nasdaq Delisting Avoidance, Announces Ambitious Revenue Goal
Following a tumultuous year, Super Micro Computer (SMCI) stock surged in premarket trading on Wednesday, buoyed by positive updates on its Nasdaq delisting status and an ambitious new revenue target.
On Tuesday, the company assured investors it anticipates submitting delayed filings to the SEC by the Nasdaq's Feb. 25 deadline, preventing potential delisting. SMCI stated, "We continue to diligently work towards the filing of our delayed annual and quarterly reports to the Securities and Exchange Commission and believe we will make such filings by Feb. 25."
Despite missing Wall Street estimates with its fiscal Q2 2025 earnings, SMCI projects a robust revenue outlook. CEO Charles Liang forecasted potential revenue of $40 billion by fiscal 2026, supported by a "confidential product under development."
SMCI's server systems utilizing Nvidia's Blackwell AI chips are now available, contributing to the optimistic revenue projections.
Amidst ongoing controversies stemming from a short-seller report, SMCI has hired a new accountant and received an extension from Nasdaq to submit its delayed filings. The company also emphasized the absence of misconduct in an independent review of its business.
"The Company is cooperating with these document requests," SMCI stated regarding subpoenas from the Department of Justice and Securities and Exchange Commission.
Investors should continue monitoring SMCI's progress as it navigates regulatory challenges and executes its ambitious revenue strategy.