Supermicro Addresses Stakeholders Amid Recent Developments

Investing.com — Supermicro (SMCI) issued a letter to its customers and partners on Tuesday, addressing developments regarding its delayed filing of the Annual Report for the fiscal year ending June 30, 2024, as well as a report from a short-seller.

In the letter, CEO Charles Liang reassured stakeholders that these issues will not impact the company’s products or its ability to deliver innovative IT solutions.

Liang emphasized that Supermicro’s production capabilities remain unaffected, stating operations are continuing at full pace to meet customer demand.

“Our production capabilities are unaffected and continue operating at pace to meet customer demand,” said Liang. “Our world-class engineering and support teams are also unaffected and continue to build and deploy large-scale AI Total Solutions.”

He highlighted the company’s ongoing success, particularly in its liquid-cooled AI Total Solutions, mentioning that Supermicro has shipped approximately 2,000 DLC liquid-cooled AI racks this year—representing more than 75% of the market.

Concerning the delayed Annual Report, Liang explained that the Audit Committee has formed a team to review internal controls and other matters. He reassured stakeholders, saying, “We don’t anticipate any material changes in our fourth quarter or fiscal year 2024 financial results,” demonstrating confidence in the company’s financial stability.

“This is good news. I continue to have strong confidence in our finance and internal teams,” he added.

Liang addressed the short-seller report from Hindenburg Research, describing it as containing “false or inaccurate statements” aimed to damage the company’s stock price. He reaffirmed Supermicro’s dedication to its customers, stating that their experience remains a top priority.

Looking forward to 2025, Liang expressed optimism, stating: “As we look ahead to 2025, we are closing out a historic year with winning products, a record number of orders, a strong and growing backlog of design wins, and leading market positions across several areas.”

He concluded the letter by thanking customers for their continued trust and partnership, underscoring the company’s focus on growth and innovation.