Super Micro Computer Inc. (SMCI, Financial) shares soared 26% in pre-market trading on Wednesday after submitting revised and audited financials for fiscal 2024 and the first half of fiscal 2025 to the SEC, narrowly averting a Nasdaq delisting warning.
The company's financial statements, as of June 30, 2024, were verified by the company's auditor, BDO, confirming that they correctly reflect SMCI's status and conform to U.S. accounting standards, said the release. SMCI reasserted compliance with Nasdaq's filing requirements, removing investor concerns that had quaked its stock price with these revised filings.
CEO and founder Charles Liang described the filing as an important milestone, noting the company's renewed focus on its core business and DLC strategy. SMCI's robust fiscal 2024 sales, more than doubling to $14.99 billion, and its $40 billion revenue goal for fiscal 2026 further highlighted its strong market position.
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