Super Micro computer (Smi) Stock is seen on Tuesday after the market closed as the company said expects to submit delayed filing to the SEC By NASDAQ deadline on February 25 to avoid delisting.
The company – a competitor to Dell (Tall) Makes computer servers using Nvidia (Nvda) Blackwell's latest AI chips – said he “continues to work diligently towards filing” his annual and quarterly delay reports to the US securities and exchange commission and “believes he will do such filing by February 25 . ” Super Micro had postponed the delivery of the filing following a devastating correspond Last year was announced by the short sales company Hindenburg Research accusing the server manufacturer of accounting crimes.
Super Micro also reported preliminary earnings of the second quarter after the bell on Tuesday, which failed Wall Street estimates. Super Micro said it expected to record revenue from $ 5.6 billion to $ 5.7 billion for the quarter ending December 31, below $ 5.95 billion expected from Wall Street analysts, according to Bloomberg consensus estimates. The company broke its revenue guide for the 2025 financial year to range between $ 23.5 billion and $ 25 billion, lower than its previous range from $ 26 billion to $ 30 billion.
SMCI shares sank as much as 19% after the earlier on the earnings results but rapidly overturned a direction. The stock was up more than 3% late Tuesday.
Super Micro Business Update comes after a turbulent year where the company faced ongoing debates following the Hindenburg report. The The Department of Justice launched the US probe Into Super Micro Accounting Practices. The company's annual and quarterly SEC filing puts it at risk of being listed by the NASDAQ, and its The accountant resigned.
The NASDAQ recently gave an extension to Super Micro to introduce the filing by February 25. The company has employed a new accountant, and the server manufacturer said An independent review of his business found no evidence of misconduct.
Super Micro Stock had been progressing before its business update scheduled on February 11, but reversed a address on Tuesday. Shares fell more than 9% by the end of Tuesday's trading day, bringing a week -long rally to end that saw shares win almost 60%.
Super Micro confirmed in his Tuesday update that he “received Subpoenas from the Justice and Exchange Department of Warranties and Exchange seeking some documents following the publication of allegations in a short vendor report published in August 2024.”
“The company is cooperating with these documentary applications,” the company continued.