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Super Micro Computer has received a Nasdaq extension until February 25, 2025, to file its overdue financial reports, allowing its stock to remain listed during this period. The company, facing potential delisting due to late filings and past auditor changes, expects to submit the necessary documents by the deadline. Despite recent challenges, including a significant drop in stock value, Super Micro anticipates a 67% sales growth to approximately $25 billion in fiscal 2025, driven by demand for Nvidia-based AI computer clusters.
Super Micro shares fell 17% after the company announced it has no timetable for filing annual results and issued weak guidance, with revenue for the quarter ending Sept. 30 falling short of estimates. The company is under scrutiny following the resignation of its auditor, Ernst & Young, amid allegations of accounting irregularities and potential export violations. Super Micro's forecast for the December quarter also disappointed analysts, raising concerns about its future on the Nasdaq.
David Weigand
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Super Micro Secures Nasdaq Extension to File Financials by February
Nasdaq 100 Dec 24
NVIDIA Corporation
BDO
Hindenburg Research LLC
Ernst & Young
Super Micro Computer Inc
USA
David Weigand
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23:37 06.12.2024
super micro shares drop 17 percent amid financial reporting turmoil
22:54 05.11.2024
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