Super Micro Computer, Inc. Q4 FY2021 Earnings Call

· Earnings call transcript and AI-powered summary

Quarterly Highlights (Fiscal Q4 2021, ended June 30, 2021)

  • Quarterly revenue surpassed $1 billion for the first time, reaching $1.07 billion. This represents 19.3% growth year-over-year and quarter-over-quarter. Prior Q4 revenue was approximately $0.9 billion.
  • Non-GAAP EPS was $0.81, an increase from $0.68 in Q4 last year and from $0.50 in Q3 2021.
  • Gross margin of 13.7% decreased slightly by 30 bps year-over-year and 10 bps quarter-over-quarter. Elevated shipping and expedite fees offset expected improvement.
  • Strong performance across all regions:
    • Asia +25% YoY
    • U.S. +21% YoY
    • Europe +13% YoY
    • Rest of World –3% YoY
  • Net cash balance increased to $134 million, supported by strong operating cash flow of $64 million (compared to cash usage of $124 million in Q3).
  • Inventory and payables increased due to supply chain timing and preparation for sustained demand.

Full-Year 2021 Highlights

  • Revenue grew 6.5% year-over-year despite COVID-19 impacts and the prior 10-K delay issues.
  • Management emphasized renewed growth momentum starting from the March quarter.
  • Strong traction in cloud, AI/ML, enterprise, and 5G markets.
  • Significant expansion of software and services capacity—software engineering team doubled in 24 months.

Operational & Strategic Updates

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Operator: Good day and thank you for standing by. Welcome to the Super Micro Fourth Quarter and Full-Year Fiscal 2021 Earnings Call. At this time, all participants are in listen-only mode. After the speaker presentation, there will be a question-and-answer session. [Operator Instructions] Thank you. I would now like to turn the conference 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 fourth quarter and full year fiscal 2021, which ended June 30, 2021. 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 in the IR section of the company's website under the 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 revenue, gross margin, operating expenses, other income and expenses, taxes, capital allocation, and future business outlook, including the potential impact of COVID-19 on the company’s business and results of operations. There are a number of risk factors that could cause Super Micro's future results to

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