Super Micro Computer, Inc. Q3 FY2022 Earnings Call

· Earnings call transcript and AI-powered summary

Quarter Overview

  • Q3 FY22 revenue reached $1.36 billion, up 51% year-over-year and 16% quarter-over-quarter. This exceeded both the original guidance of $1.1–$1.2 billion and the updated range of $1.3–$1.35 billion.
  • Non‑GAAP EPS was $1.55, more than triple the $0.50 reported in Q3 FY21 (210% growth). It exceeded the updated guidance of $1.40–$1.50.
  • Gross margin improved to 15.6%, up 160 bps sequentially and 180 bps year-over-year.
  • Quarter marked the fifth consecutive period of accelerated revenue growth, outpacing industry growth by 3–4x.
  • Management reiterated strong momentum across AI, cloud, enterprise, and rack‑scale total IT solutions, with extensive demand for plug‑and‑play rack-scale offerings.

Key Financial & Operational Highlights

  • Trailing twelve-month revenue rose to $4.63 billion.
  • Strong revenue across all verticals:
    • Enterprise/Channel/AI: $846 million (62% of revenue), up 44% y/y and 12% q/q.
    • OEM & Large Data Centers: $423 million (31% of revenue), up 54% y/y and 54% q/q.
    • 5G/Telco/Edge/IoT: $86 million (7% of revenue), up 159% y/y but down 39% q/q due to timing of customer qualifications.
  • Geographic revenue remained diversified:
    • US: +53% y/y
    • Asia/Japan: +50% y/y

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Operator: Ladies and gentlemen, thank you for standing by. My name is Brent, and I will be your conference operator today. At this time, I would like to welcome everyone to the Super Micro Computer, Inc. Fiscal Third Quarter 2022 Results Conference Call. All lines have been placed on mute to prevent any background noise. After the speakers’ remarks there will be a question-and-answer session. [Operator Instructions] Thank you. It’s now my pleasure to turn the call over to Nicole Noutsios, Investor Relations. Please go ahead. Nicole Noutsios: Good afternoon. And thank you for attending Super Micro’s call to discuss financial results for the third quarter, which ended March 31, 2022. With me today are Charles Liang, Founder, Chairman and Chief Executive Officer; Patrick Wang, President, East Coast and SVP, Strategy and Corporate Development; and Dave Weigand, Chief Financial Officer. By now, you should have received a copy of the news release from the company that was distributed at the close of regular trading and is available on the company’s website. As a reminder, during today’s call, the company will refer to a presentation that is available to participants on the IR section of the company’s website under Events & Presentations tab. We have also published management’s scripted commentary on our website. Please note that some of the information you’ll hear during our discussion today will consist of forward-looking statements, including without limitation those regarding re

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