NASDAQ$SMCI
Super Micro Computer, Inc · Q1 2023 earnings
Q1 2023 earnings · · Investor relations
Briefing
Reported record revenue and YoY growth.
Supermicro announced its Q1 fiscal year 2023 financial results, with record net sales of $1.85 billion, a gross margin of 18.8%, and net income of $184 million. The company's revenue reached a record $1.85 billion, marking the 7th consecutive quarter of accelerating YoY growth. The 79% YoY quarterly growth is about ten times faster than the current industry average.
- Net sales reached $1.85 billion, compared to $1.03 billion in the same quarter of last year.
- Gross margin was 18.8%, versus 13.4% in the same quarter of last year.
- Net income was $184 million, compared to $25 million in the same quarter of last year.
- Non-GAAP diluted net income per common share was $3.42, compared to $0.58 in the same quarter of last year.
Headline financials
Revenue & EPS history
Supermicro · Revenue · Quarterly
$1.85B
Forward guidance
For the second quarter of fiscal year 2023, the Company expects net sales of $1.7 billion to $1.8 billion, GAAP net income per diluted share of $2.54 to $2.81 and non-GAAP net income per diluted share of $2.64 to $2.90. For fiscal year 2023, the Company raises its guidance for net sales from a range of $6.2 billion to $7.0 billion to $6.5 billion to $7.5 billion, GAAP net income per diluted share from at least $7.27 to a range of $8.50 to $11.00, and non-GAAP net income per diluted share from at least $7.50 to a range of $9.00 to $11.30.
Tailwinds
- The Company expects net sales of $1.7 billion to $1.8 billion for Q2 2023.
- GAAP net income per diluted share is expected to be $2.54 to $2.81 for Q2 2023.
- Non-GAAP net income per diluted share is expected to be $2.64 to $2.90 for Q2 2023.
- The Company raises its guidance for net sales to $6.5 billion to $7.5 billion for fiscal year 2023.
- GAAP net income per diluted share is expected to be $8.50 to $11.00 for fiscal year 2023.
Headwinds
- Guidance assumes a tax rate of approximately 17.4% and 19.4% for GAAP and non-GAAP, respectively.
- Guidance assumes a fully diluted share count of 55.7 million shares for GAAP.
- Guidance assumes a fully diluted share count of 57.0 million shares for non-GAAP.
- The outlook for Q2 includes approximately $11.8 million in expected stock-based compensation expense.
- The outlook for fiscal year 2023 GAAP net income per diluted share includes approximately $32.7 million in expected stock-based compensation and other expenses.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2023
+3.4%
Avg return
Earnings day
+3.9%
Avg return
5 days after
+13.6%
Avg return
30 days after
61%
39 / 64 earnings
Positive
+33.7%
Q3 2022
Best reaction
-24.7%
Q4 2023
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q3 2026 | -0.5% | +21.8% | +49.3% | |
| Q2 2026 | +13.8% | +13.0% | +5.5% | |
| Q1 2026 | -1.7% | -15.2% | -26.8% | |
| Q3 2025 | -1.2% | +1.8% | +26.1% | |
| Q1 2025 | -3.5% | +2.2% | -13.7% | |
| Q2 2025 | +2.8% | +24.1% | +9.2% | |
| Q4 2024 | -19.1% | -16.4% | -31.9% | |
| Q3 2024 | -17.1% | -12.1% | -7.0% | |
| Q2 2024 | +8.2% | +22.2% | +72.2% | |
| Q1 2024 | +2.7% | +5.5% | +12.6% | |
| Q4 2023 | -24.7% | -28.0% | -24.3% | |
| Q3 2023 | +27.5% | +30.6% | +119.8% | |
| Q2 2023 | +10.5% | +16.9% | +36.4% | |
| Q1 2023 | +16.1% | +10.1% | +30.1% | |
| Q4 2022 | +4.3% | +6.9% | +6.4% | |
| Q3 2022 | +33.7% | +20.8% | +30.9% | |
| Q2 2022 | +8.1% | -5.7% | +3.9% | |
| Q1 2022 | +14.2% | +27.1% | +16.9% | |
| Q4 2021 | -0.3% | -6.7% | -6.2% | |
| Q3 2021 | -2.7% | -2.3% | -2.3% | |
| Q2 2021 | +4.8% | +1.3% | +3.4% | |
| Q1 2021 | +23.5% | +21.6% | +29.0% | |
| Q4 2020 | -13.9% | -13.6% | -15.8% | |
| Q3 2020 | +15.5% | +8.9% | +29.9% | |
| Q2 2020 | -6.4% | -1.6% | -14.3% | |
| Q1 2020 | -3.2% | -2.2% | +18.1% | |
| Q4 2019 | +9.8% | +6.4% | +27.6% | |
| Q2 2018 | +9.8% | +6.4% | +27.6% | |
| Q1 2019 | +9.8% | +6.4% | +27.6% | |
| Q3 2019 | +9.8% | +6.4% | +27.6% | |
| Q2 2019 | +9.8% | +6.4% | +27.6% | |
| Q1 2018 | +9.8% | -0.2% | +2.6% | |
| Q4 2018 | -2.5% | -3.8% | +2.0% | |
| Q3 2018 | -0.8% | -0.8% | +7.7% | |
| Q4 2017 | +0.4% | -0.7% | -0.7% | |
| Q3 2017 | -1.2% | -3.8% | -1.6% | |
| Q2 2017 | -6.3% | -7.0% | -5.1% | |
| Q1 2017 | +9.9% | +2.9% | +21.2% | |
| Q4 2016 | +4.9% | +4.4% | +7.8% | |
| Q3 2016 | -6.3% | — | — | |
| Q2 2016 | +9.2% | — | — | |
| Q1 2016 | +12.2% | — | — | |
| Q4 2015 | +4.9% | — | — | |
| Q3 2015 | -14.0% | — | — | |
| Q2 2015 | -2.8% | — | — | |
| Q1 2015 | +13.4% | — | — | |
| Q4 2014 | -7.5% | — | — | |
| Q3 2014 | +2.1% | — | — | |
| Q2 2014 | +27.8% | — | — | |
| Q1 2014 | -4.9% | — | — | |
| Q4 2013 | +11.0% | — | — | |
| Q3 2013 | -2.5% | — | — | |
| Q2 2013 | +21.4% | — | — | |
| Q1 2013 | -12.8% | — | — | |
| Q4 2010 | +0.8% | — | — | |
| Q4 2012 | +0.0% | — | — | |
| Q3 2011 | -2.4% | — | — | |
| Q3 2012 | +5.2% | — | — | |
| Q2 2011 | +0.6% | — | — | |
| Q2 2012 | +1.8% | — | — | |
| Q1 2011 | +0.6% | — | — | |
| Q4 2011 | +0.6% | — | — | |
| Q1 2012 | +0.6% | — | — | |
| Q3 2010 | +5.3% | — | — |
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