$SMCI

Super Micro Computer, Inc.

CIK:0001375365|SEC Filings

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2024
Income Statement [Abstract]
Net sales (including related party sales of $29,781, $42,259, and $69,791 in fiscal years 2026, 2025, and 2024, respectively)	$ 39,063,072	$ 21,972,042	$ 14,989,251
Cost of sales (including related party purchases of $725,694, $650,658, and $552,136 in fiscal years 2026, 2025, and 2024, respectively)	34,835,821	19,542,120	12,927,841
Gross profit	4,227,251	2,429,922	2,061,410
Operating expenses:
Research and development	771,232	636,550	463,548
Sales and marketing	352,594	273,139	189,738
General and administrative	332,939	267,239	197,350
Total operating expenses	1,456,765	1,176,928	850,636
Income from operations	2,770,486	1,252,994	1,210,774
Other income (expense), net	26,432	(41,339)	(6,240)
Interest income	186,920	59,834	28,957
Interest expense	(194,574)	(59,573)	(19,352)
Income before income tax provision	2,789,264	1,211,916	1,214,139
Income tax provision	(556,329)	(156,851)	(63,294)
Share of (loss) income from equity investees, net of taxes	(2,482)	(6,211)	1,821
Net income	$ 2,230,453	$ 1,048,854	$ 1,152,666
Net income per common share:
Basic (in dollars per share)	$ 3.65	$ 1.77	$ 2.07
Diluted (in dollars per share)	$ 3.26	$ 1.68	$ 1.92
Weighted-average shares used in the calculation of net income per common share:
Basic (in shares)	601,806	593,665	555,878
Diluted (in shares)	697,348	628,402	602,146

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2024
OPERATING ACTIVITIES:
Net income	$ 2,230,453	$ 1,048,854	$ 1,152,666
Reconciliation of net income to net cash (used in) provided by operating activities:
Depreciation and amortization	53,673	41,298	29,617
Amortization of right-of-use (“ROU”) assets	36,594	17,046	9,076
Amortization of debt discount and issuance costs	25,889	10,268	2,292
Inventory valuation adjustment write-down	188,110	232,083	83,004
Stock-based compensation expense	412,115	314,452	231,507
Impairment loss and gain on sale of investments, net	414	0	0
Share of loss (income) from equity investees	2,482	6,211	(1,821)
Unrealized foreign currency exchange (gain) loss	976	18,832	(531)
Loss on extinguishment of convertible notes	0	30,251	0
Deferred income taxes, net	(95,367)	(214,638)	(168,499)
Other non-cash (income) expense, net	(16,956)	(3,077)	12,343
Changes in operating assets and liabilities:
Accounts receivable, net (including changes in related party balances of $(231), $5,801, and $(721) in fiscal years 2026, 2025, and 2024, respectively)	(3,921,872)	533,341	(1,589,187)
Inventories	(8,876,747)	(587,689)	(2,983,000)
Prepaid expenses and other assets (including changes in related party balances of $12,728, $(1,806), and $15,793 in fiscal years 2026, 2025, and 2024, respectively)	(356,230)	(229,107)	(44,646)
Accounts payable (including changes in related party balances of $(12,690), $(35,543), and $76,161 in fiscal years 2026, 2025, and 2024, respectively)	963,258	(180,968)	679,190
Accrued liabilities (including changes in related party balances of $169, $874, and $(13,847) in fiscal years 2026, 2025, and 2024, respectively)	406,200	272,404	92,942
Income taxes payable	213,532	32,043	(110,897)
Deferred revenue	1,880,650	315,006	111,927
Other long-term liabilities (including changes in related party balances of $(246), $608, and $(178) in fiscal years 2026, 2025, and 2024, respectively)	42,940	2,914	8,045
Net cash (used in) provided by operating activities	(6,809,886)	1,659,524	(2,485,972)
INVESTING ACTIVITIES:
Purchases of property, plant, and equipment (including payments to related parties of $12,567, $17,677, and $10,625 in fiscal years 2026, 2025, and 2024, respectively)	(161,999)	(127,214)	(124,279)
Investment in equity securities	(51,613)	(56,000)	(69,673)
Acquisition, net of cash acquired	0	0	(296)
Proceeds from disposal of equity investment	13,333	0	0
Net cash used in investing activities	(200,279)	(183,214)	(194,248)
FINANCING ACTIVITIES:
Proceeds from lines of credit and term loans	4,468,808	1,387,991	2,156,529
Repayment of lines of credit and term loans	(520,510)	(1,768,650)	(1,967,545)
Payments of debt issuance costs	(23,483)	0	0
Proceeds from exercise of stock options	46,260	20,898	29,453
Payment for withholding taxes related to settlement of equity awards	(129,881)	(142,457)	(174,354)
Stock repurchases	0	(200,000)	0
Issuances of common stock in public offerings, net of issuance costs of $42,575	0	0	2,313,983
Debt issuance costs in connection with amended 2029 Convertibles Notes	0	(31,217)	0
Purchase of capped calls	0	(182,215)	(142,140)
Common stock issuance, net of underwriting discounts	1,406,953	0	0
Series A Mandatory Convertible Preferred Stock issuance, net of underwriting discounts	4,231,640	0	0
Payments for stock offering issuance costs	(996)	0	0
Other	(36)	26	30
Net cash provided by financing activities	9,478,755	2,024,045	3,911,724
Effect of exchange rate fluctuations on cash	(9,355)	1,673	(2,191)
Net increase in cash, cash equivalents, and restricted cash	2,459,235	3,502,028	1,229,313
Cash, cash equivalents, and restricted cash at the beginning of year	5,172,301	1,670,273	440,960
Cash, cash equivalents, and restricted cash at the end of year	7,631,536	5,172,301	1,670,273
Supplemental disclosure of cash flow information:
Cash paid for interest	109,306	25,490	16,015
Cash paid for income taxes, net of refunds	399,276	327,158	392,020
Non-cash investing and financing activities:
Unpaid property, plant, and equipment purchases (including due to related parties of $4,658, $3,879, and $2,339 as of June 30, 2026, 2025, and 2024, respectively)	21,142	16,208	19,613
ROU assets obtained in exchange for operating lease commitments	266,753	276,170	32,581
Series A Mandatory Convertible Preferred Stock accrued dividends	13,088	0	0
Transfer of inventory to property, plant, and equipment, net	7,304	8,260	12,535
2029 Convertible Notes
FINANCING ACTIVITIES:
Proceeds from issuance of Convertible Notes, net of issuance costs	0	0	1,695,768
2028 Convertible Notes
FINANCING ACTIVITIES:
Proceeds from issuance of Convertible Notes, net of issuance costs	0	683,696	0
2030 Convertible Notes
FINANCING ACTIVITIES:
Proceeds from issuance of Convertible Notes, net of issuance costs	$ 0	$ 2,255,973	$ 0

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2026	Jun. 30, 2025
Current assets:
Cash and cash equivalents	$ 7,521,474	$ 5,169,911
Accounts receivable, net of allowance for credit losses of $109 and $0 at June 30, 2026 and 2025, respectively (including amounts receivable from related parties of $624 and $393 at June 30, 2026 and 2025, respectively)	6,125,414	2,203,942
Inventories	12,895,949	4,680,375
Prepaid expenses and other current assets (including receivables from related parties of $905 and $13,745 at June 30, 2026 and 2025, respectively)	1,183,415	247,426
Total current assets	27,726,252	12,301,654
Property, plant, and equipment, net	625,553	504,488
Deferred income taxes, net	697,441	607,416
Other assets	896,221	604,871
Total assets	29,945,467	14,018,429
Current liabilities:
Accounts payable (including amounts due to related parties of $117,062 and $129,752 at June 30, 2026 and 2025, respectively)	2,247,003	1,281,977
Accrued liabilities (including amounts due to related parties of $1,213 and $1,044 at June 30, 2026 and 2025, respectively)	1,032,716	565,637
Income taxes payable	262,608	53,381
Lines of credit and term loans, current	2,039,774	75,060
Deferred revenue	1,578,005	368,737
Total current liabilities	7,160,106	2,344,792
Deferred revenue, non-current	1,034,027	362,645
Lines of credit and term loans, non-current	2,016,374	37,415
Convertible notes	4,664,139	4,645,178
Other long-term liabilities (including amounts due to related parties of $362 and $608 at June 30, 2026 and 2025, respectively)	591,205	326,528
Total liabilities	15,465,851	7,716,558
Commitments and contingencies (Note 15)
Stockholders’ equity:
Preferred Stock and additional paid-in capital, $0.001 par value, Authorized shares: 10,000; Issued and outstanding shares of Series A Mandatory Convertible Preferred Stock: 4,313 and 0 at June 30, 2026 and 2025, respectively	4,226,258	0
Common stock and additional paid-in capital, $0.001 par value, Authorized shares: 1,000,000; Issued and outstanding shares: 656,882 and 594,137 at June 30, 2026 and 2025, respectively	4,600,893	2,866,449
Accumulated other comprehensive income	397	705
Retained earnings	5,651,904	3,434,539
Total Super Micro Computer, Inc. stockholders’ equity	14,479,452	6,301,693
Non-controlling interest	164	178
Total stockholders’ equity	14,479,616	6,301,871
Total liabilities and stockholders’ equity	$ 29,945,467	$ 14,018,429