# EDGAR Filing Document

**Accession Number:** 0001375365
**File Stem:** 0001375365-23-000009
**Filing Date:** 2023-1
**Character Count:** 24724
**Document Hash:** 8153e336ca1e44c00c836a253f8c4a03
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001375365-23-000009.hdr.sgml**: 20230131

**ACCESSION NUMBER**: 0001375365-23-000009

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 13

**CONFORMED PERIOD OF REPORT**: 20230131

**ITEM INFORMATION**: Results of Operations and Financial Condition

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20230131

**DATE AS OF CHANGE**: 20230131

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Super Micro Computer, Inc.
- **CENTRAL INDEX KEY:** 0001375365
- **STANDARD INDUSTRIAL CLASSIFICATION:** ELECTRONIC COMPUTERS [3571]
- **IRS NUMBER:** 770353939
- **STATE OF INCORPORATION:** CA
- **FISCAL YEAR END:** 0630

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-33383
- **FILM NUMBER:** 23573057

**BUSINESS ADDRESS:**
- **STREET 1:** 980 ROCK AVENUE
- **CITY:** SAN JOSE
- **STATE:** CA
- **ZIP:** 95131
- **BUSINESS PHONE:** 408-503-8000

**MAIL ADDRESS:**
- **STREET 1:** 980 ROCK AVENUE
- **CITY:** SAN JOSE
- **STATE:** CA
- **ZIP:** 95131

?xml version="1.0" ? smci-20230131

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**__________________________________________________________________________**

**FORM 8-K** 

**__________________________________________________________________________**

**CURRENT REPORT**

**Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934**

Date of Report (Date of earliest event reported): January 31, 2023

**SUPER MICRO COMPUTER, INC.** 

**(Exact name of registrant specified in its charter)**

---

| | | |
|:---|:---|:---|
| **Delaware** | **001-33383** | **77-0353939** |
| **(State or other jurisdiction<br>of incorporation)** | **(Commission File Number)** | **(I.R.S. Employer<br>Identification No.)** |

---

**980 Rock Avenue, San Jose, California 95131** 

**(Address of principal executive offices, including Zip Code)**

Registrant's telephone number, including area code: (408) 503-8000

**Not Applicable**

**(Former name or former address, if changed since last report)**

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions :

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered or to be registered pursuant to Section 12(b) of the Act:

---

| | | |
|:---|:---|:---|
| **Title of each class** | **Trading<br>Symbol(s)** | **Name of each exchange<br>on which registered** |
| **Common Stock, $0.001 par value** | **SMCI** | **The NASDAQ Global Select Market** |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ◻

------

---

| | |
|:---|:---|
| **Item 2.02** | **Results of Operations and Financial Condition** |

---

On January 31, 2023, Super Micro Computer, Inc. (the "Company") issued a press release (the "Press Release") announcing financial results for the quarter ended December 31, 2022. A copy of the Press Release is attached as Exhibit 99.1 to this report and is incorporated herein by reference.

The information in, and the exhibit furnished pursuant to, Item 2.02 of this report, including Exhibit 99.1, are being furnished and shall not be deemed "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and are not to be incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act, regardless of any general incorporation language contained in such filing, unless otherwise expressly stated in such filing.

---

| | |
|:---|:---|
| **Item 9.01** | **Financial Statements and Exhibits** |

---

---

| | |
|:---|:---|
| (d) Exhibits | |
| **Exhibit <br>Number** | **Description** |
| 99.1 | <u>[Press Release dated](exhibit991_20221231.htm)[January 31](exhibit991_20221231.htm)[, 20](exhibit991_20221231.htm)[23](exhibit991_20221231.htm)</u> |
| 104 | The cover page from this Current Report on Form 8-K, formatted in Inline XBRL |

---

------

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | | |
|:---|:---|:---|
| | **SUPER MICRO COMPUTER, INC.** | **SUPER MICRO COMPUTER, INC.** |
| Date: January 31, 2023 | By: | /s/ Charles Liang |
|  |  | President, Chief Executive Officer and Chairman of the Board<br>(Principal Executive Officer) |

---

## Exhibit 99.1

**Exhibit 99.1**

**Supermicro Announces Second Quarter Fiscal Year 2023 Financial Results**

**SAN JOSE, Calif. -- January 31, 2023 (BUSINESS WIRE) -- Supermicro (Nasdaq: SMCI)**, a Total IT Solution Provider for Cloud, AI/ML, Storage, and 5G/Edge, today announced financial results for its second quarter of fiscal year 2023 ended December 31, 2022.

**Second Quarter Fiscal Year 2023 Highlights**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**•** Net sales of $1.80 billion versus $1.85 billion in the first quarter of fiscal year 2023 and $1.17 billion in the same quarter of last year.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**•** Gross margin of 18.7% versus 18.8% in the first quarter of fiscal year 2023 and 14.0% in the same quarter of last year.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**•** Net income of $176 million versus $184 million in the first quarter of fiscal year 2023 and $42 million in the same quarter of last year.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**•** Diluted net income per common share of $3.14 versus $3.35 in the first quarter of fiscal year 2023 and $0.78 in the same quarter of last year.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**•** Non-GAAP diluted net income per common share of $3.26 versus $3.42 in the first quarter of fiscal year 2023 and $0.88 in the same quarter of last year.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Cash flow provided by operations for the second quarter of fiscal year 2023 of $161 million and capital expenditures of $10 million.

Non-GAAP gross margin for the second quarter of fiscal year 2023 was 18.8% which adds back stock-based compensation expenses of $1 million. Non-GAAP diluted net income per common share for the second quarter of fiscal year 2023 was $3.26, with adjustments for stock-based compensation expenses of $17 million and $2 million litigation expense recovery, net of the related tax effects of $4 million.

As of December 31, 2022, total cash and cash equivalents was $305 million and total bank debt was $170 million.

------

"Our fiscal Q2 2023 saw another record quarter with revenue just over $1.8 billion, up 54% YoY, making it the eighth consecutive quarter of outstanding growth that effectively doubled our annual revenue," said Charles Liang, Chairman and CEO, Supermicro. "We continue to lead the market with the best designs and best in class Total IT Solutions. In fact, the structural shifts in the end markets favor our solution strategy. I remain confident and excited for fiscal 2023 and beyond, as we are in the beginning of many new platform launches that should continue to support our share gain momentum in the long run."

------

**Business Outlook and Management Commentary**

For the third quarter of fiscal year 2023 ending March 31, 2023, the Company expects net sales of $1.42 billion to $1.52 billion, GAAP net income per diluted share of $1.75 to $2.02 and non-GAAP net income per diluted share of $1.88 to $2.14. The Company's projections for GAAP and non-GAAP net income per diluted share assume a tax rate of approximately 15.9% and 16.9%, respectively, and a fully diluted share count of 57 million shares for GAAP and fully diluted share count of 58 million shares for non-GAAP. The outlook for Q3 of fiscal year 2023 GAAP net income per diluted share includes approximately $9 million in expected stock-based compensation and other expenses, net of related tax effects that are excluded from non-GAAP net income per diluted share.

For fiscal year 2023 ending June 30, 2023, the Company maintains its guidance for net sales from a range of $6.5 billion to $7.5 billion, GAAP net income per diluted share from a range of $8.50 to $11.00, and non-GAAP net income per diluted share from a range of $9.00 to $11.30. The Company's projections for annual GAAP and non-GAAP net income per diluted share assume a tax rate of approximately 19.2% and 19.8%, respectively, and a fully diluted share count of 57 million shares for GAAP and fully diluted share count of 58 million shares for non-GAAP. The outlook for fiscal year 2023 GAAP net income per diluted share includes approximately $33 million in expected stock-based compensation and other expenses, net of related tax effects that are excluded from non-GAAP net income per diluted share.

**Conference Call and Webcast Information**

Supermicro will hold a public webcast at 2:00 p.m. PST today to discuss the results for its second quarter of fiscal year 2023.

Those wishing to access the live webcast may use the following link:

https://events.q4inc.com/attendee/374434608

The **conference call** can be accessed by **registering online** at:

https://conferencingportals.com/event/fIceWmPv

**After registering, a confirmation will be sent through email, including dial-in details and unique conference call codes for entry.** Registration is open during the live call, but to ensure connectivity for the full call, <u>it is recommended that participants register a day in advance</u> and dial-in for the call at least 10 minutes before the start of the call.

A replay of the webcast will be available shortly after the call on the Company's investor relations website (https://ir.supermicro.com) and will remain accessible for one year.

------

**Cautionary Statement Regarding Forward Looking Statements**

Statements contained in this press release that are not historical fact may be forward looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward looking statements may relate to, among other things, the third quarter of fiscal year 2023 and full year fiscal 2023 guidance, structural shifts in the end markets favoring our solution strategy, and new platform launches supporting our share gain momentum in the long run. Such forward looking statements do not constitute guarantees of future performance and are subject to a variety of risks and uncertainties that could cause our actual results to differ materially from those anticipated, including: (i) the global COVID-19 pandemic may continue to present significant uncertainties for parts of our business including our supply chain, our production operations and customer demand, (ii) our quarterly operating results may fluctuate, which could cause rapid declines in our stock price, (iii) as we increasingly target larger customers and larger sales opportunities, our customer base may become more concentrated, our cost of sales may increase, our margins may be lower and our sales may be less predictable, (iv) if we fail to meet publicly announced financial guidance or other expectations about our business, our stock could decline in value, (v) the average sales prices for our server solutions could decline if customers do not continue to purchase our latest generation products or additional components, and (vi) adverse economic conditions may harm our business. Additional factors that could cause actual results to differ materially from those projected or suggested in any forward looking statements are contained in our filings with the Securities and Exchange Commission, including those factors discussed under the caption "Risk Factors" in such filings, particularly in our Annual Report on Form 10-K for our fiscal year ended June 30, 2022, and Quarterly Reports on Form 10-Q filed thereafter.

------

**Use of Non-GAAP Financial Measures**

Non-GAAP gross margin discussed in this press release adds back stock-based compensation expenses and other expenses. Non-GAAP diluted net income per common share discussed in this press release adds back stock-based compensation expenses and litigation expense (recovery) adjusted for the related tax effects. Management presents non-GAAP financial measures because it considers them to be important supplemental measures of performance. Management uses the non-GAAP financial measures for planning purposes, including analysis of the Company's performance against prior periods, the preparation of operating budgets and to determine appropriate levels of operating and capital investments. Management also believes that the non-GAAP financial measures provide additional insight for analysts and investors in evaluating the Company's financial and operational performance. However, these non-GAAP financial measures have limitations as an analytical tool and are not intended to be an alternative to financial measures prepared in accordance with GAAP. A reconciliation of gross margin to non-GAAP gross margin and from diluted net income per common share to non-GAAP diluted net income per common share is included in the tables below.

**About Super Micro Computer, Inc.**

Supermicro (NASDAQ: SMCI) is a global leader in Application-Optimized Total IT Solutions. Founded and operating in San Jose, California, Supermicro is committed to delivering first to market innovation for Enterprise, Cloud, AI and 5G Telco/Edge IT Infrastructure. We are transforming to being a Total IT Solutions provider with server, AI, storage, IoT and switch systems, software and services while continuing to deliver advanced high-volume motherboard, power and chassis products. The products are designed and manufactured in-house (in US, Taiwan and Netherlands) leveraging global operations for scale and efficiency and optimized to improve TCO and reduce environmental impact (Green Computing). The award-winning portfolio of Server Building Block Solutions® allows customers to optimize for their exact workload and application by selecting from a broad family of systems built from our flexible and reusable building blocks that support a comprehensive set of form factors, processors, memory, GPUs, storage, networking, power and cooling solutions (air conditioned, free air cooling or liquid cooling).

Supermicro, Server Building Block Solutions, and We Keep IT Green are trademarks and/or registered trademarks of Super Micro Computer, Inc.

**Investor Relations Contact**

Nicole Noutsios

**email: <u>ir@supermicro.com</u>**

------

**SUPER MICRO COMPUTER, INC.**

**CONDENSED CONSOLIDATED BALANCE SHEETS**

**(in thousands)**

 **(unaudited)**

---

| | | |
|:---|:---|:---|
| | **December 31,** | **June 30,** |
| | **2022** | **2022** |
| **ASSETS** |  |  |
| Current assets: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Cash and cash equivalents | $304595 | $267397 |
| &nbsp;&nbsp;&nbsp;&nbsp;Accounts receivable, net of allowance for credit losses | 768167 | 834513 |
| &nbsp;&nbsp;&nbsp;&nbsp;Inventories | 1421817 | 1545606 |
| &nbsp;&nbsp;&nbsp;&nbsp;Prepaid expenses and other current assets | 154924 | 158799 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total current assets | 2649503 | 2806315 |
| &nbsp;&nbsp;&nbsp;&nbsp;Investment in equity investee | 3197 | 5329 |
| &nbsp;&nbsp;&nbsp;&nbsp;Property, plant and equipment, net | 289255 | 285972 |
| &nbsp;&nbsp;&nbsp;&nbsp;Deferred income taxes, net | 95741 | 69929 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other assets | 37246 | 37532 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total assets | $3074942 | $3205077 |
| **LIABILITIES AND STOCKHOLDERS' EQUITY** |  |  |
| Current liabilities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Accounts payable | $559962 | $655403 |
| &nbsp;&nbsp;&nbsp;&nbsp;Accrued liabilities | 169866 | 212419 |
| &nbsp;&nbsp;&nbsp;&nbsp;Income taxes payable | 38713 | 41743 |
| &nbsp;&nbsp;&nbsp;&nbsp;Short-term debt | 27869 | 449146 |
| &nbsp;&nbsp;&nbsp;&nbsp;Deferred revenue | 120530 | 111313 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total current liabilities | 916940 | 1470024 |
| Deferred revenue, non-current | 159574 | 122548 |
| Long-term debt | 142273 | 147618 |
| Other long-term liabilities | 37313 | 39140 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total liabilities | 1256100 | 1779330 |
| Stockholders' equity: |  |  |
| Common stock and additional paid-in capital | 514559 | 481741 |
| Accumulated other comprehensive income | 612 | 911 |
| Retained earnings | 1303506 | 942923 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total Super Micro Computer, Inc. stockholders' equity | 1818677 | 1425575 |
| Noncontrolling interest | 165 | 172 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total stockholders' equity | 1818842 | 1425747 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities and stockholders' equity | $3074942 | $3205077 |

---

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**SUPER MICRO COMPUTER, INC.**

**CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS**

**(in thousands except per share amounts)**

 **(unaudited)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Three Months Ended<br>December 31,** | **Three Months Ended<br>December 31,** | **Six Months Ended<br>December 31,** | **Six Months Ended<br>December 31,** |
| | **2022** | **2021** | **2022** | **2021** |
| Net sales | $1803195 | $1172419 | $3655325 | $2205149 |
| Cost of sales | 1465773 | 1008676 | 2970368 | 1903267 |
| Gross profit | 337422 | 163743 | 684957 | 301882 |
| Operating expenses: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Research and development  | 70700 | 65471 | 144943 | 130614 |
| &nbsp;&nbsp;&nbsp;Sales and marketing | 28445 | 21960 | 57808 | 43584 |
| &nbsp;&nbsp;&nbsp;General and administrative | 23095 | 25263 | 46901 | 47507 |
| Total operating expenses | 122240 | 112694 | 249652 | 221705 |
| Income from operations | 215182 | 51049 | 435305 | 80177 |
| Other (expense) income, net | (6335) | (607) | 1719 | (557) |
| Interest expense | (1756) | (1150) | (5694) | (1954) |
| Income before income tax provision | 207091 | 49292 | 431330 | 77666 |
| Income tax (provision) | (29573) | (7599) | (68507) | (10924) |
| Share of (loss) income from equity investee, net of taxes | (1351) | 239 | (2240) | 627 |
| Net income | $176167 | $41932 | $360583 | $67369 |
| Net income per common share: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Basic | $3.31 | $0.82 | $6.84 | $1.32 |
| &nbsp;&nbsp;&nbsp;Diluted | $3.14 | $0.78 | $6.51 | $1.27 |
| Weighted-average shares used in calculation of net income per common share: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Basic | 53160 | 51314 | 52726 | 51055 |
| &nbsp;&nbsp;&nbsp;Diluted | 56144 | 53511 | 55427 | 53213 |

---

Stock-based compensation is included in the following cost and expense categories by period (in thousands):

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| | | | | |
|:---|:---|:---|:---|:---|
| | **Three Months Ended<br>December 31,** | **Three Months Ended<br>December 31,** | **Six Months Ended <br>December 31,** | **Six Months Ended <br>December 31,** |
| | **2022** | **2021** | **2022** | **2021** |
| Cost of sales | $1486 | $471 | $2370 | $918 |
| Research and development | 9334 | 4103 | 15452 | 7983 |
| Sales and marketing | 1448 | 496 | 2257 | 1013 |
| General and administrative | 4713 | 4106 | 7916 | 6277 |
| Stock-based compensation expense | $16981 | $9176 | $27995 | $16191 |

---

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**SUPER MICRO COMPUTER, INC.**

**SELECTED CASH FLOW INFORMATION**

**(in thousands)**

 **(unaudited)**

---

| | | |
|:---|:---|:---|
| | **Six Months Ended<br>December 31,** | **Six Months Ended<br>December 31,** |
| | **2022** | **2021** |
| Net cash provided by (used in) operating activities | $474674 | $(187722) |
| Net cash (used in) investing activities | (20631) | (24306) |
| Net cash (used in) provided by financing activities | (415821) | 227173 |
| Effect of exchange rate fluctuations on cash | (1693) | (9) |
| Net increase in cash, cash equivalents and restricted cash | 36529 | 15136 |
| Cash, cash equivalents and restricted cash at the beginning of the period | 268559 | 233449 |
| Cash, cash equivalents and restricted cash at the end of the period | $305088 | $248585 |

---

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**SUPER MICRO COMPUTER, INC.**

**RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES**

**(in thousands except per share amounts)**

 **(unaudited)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Three Months Ended December 31,** | **Three Months Ended December 31,** | **Six Months Ended December 31,** | **Six Months Ended December 31,** |
| | **2022** | **2021** | **2022** | **2021** |
| GAAP GROSS PROFIT | $337422 | $163743 | $684957 | $301882 |
| Stock-based compensation | 1486 | 471 | 2370 | 918 |
| Other expenses |  |  |  | 295 |
| NON-GAAP GROSS PROFIT | $338908 | $164214 | $687327 | $303095 |
| GAAP GROSS MARGIN | 18.7% | 14.0% | 18.7% | 13.7% |
| Stock-based compensation | 0.1% | 0.0% | 0.1% | 0.0% |
| Other expenses | —% | —% | —% | 0.0% |
| NON-GAAP GROSS MARGIN | 18.8% | 14.0% | 18.8% | 13.7% |
| GAAP OPERATING EXPENSE | $122240 | $112694 | $249652 | $221705 |
| Stock-based compensation | (15495) | (8705) | (25625) | (15273) |
| Special performance bonuses |  |  |  | (158) |
| Litigation recovery (expense) | 2230 | (597) | 2230 | (1923) |
| NON-GAAP OPERATING EXPENSE | $108975 | $103392 | $226257 | $204351 |
| GAAP INCOME FROM OPERATIONS | $215182 | $51049 | $435305 | $80177 |
| Stock-based compensation | 16981 | 9176 | 27995 | 16191 |
| Special performance bonuses |  |  |  | 453 |
| Litigation (recovery) expense | (2230) | 597 | (2230) | 1923 |
| NON-GAAP INCOME FROM OPERATIONS | $229933 | $60822 | $461070 | $98744 |
| GAAP OPERATING MARGIN | 11.9% | 4.4% | 11.9% | 3.6% |
| Stock-based compensation | 1.0% | 0.8% | 0.8% | 0.7% |
| Special performance bonuses | —% | —% | —% | 0.1% |
| Litigation (recovery) expense | (0.1)% | 0.0% | (0.1)% | 0.1% |
| NON-GAAP OPERATING MARGIN | 12.8% | 5.2% | 12.6% | 4.5% |
| GAAP TAX EXPENSE | $29573 | $7599 | $68507 | $10924 |
| Adjustments to tax provision | 4300 | 3339 | 7530 | 6169 |
| NON-GAAP TAX EXPENSE | $33873 | $10938 | $76037 | $17093 |
| GAAP NET INCOME | $176167 | $41932 | $360583 | $67369 |
| Stock-based compensation | 16981 | 9176 | 27995 | 16191 |
| Special performance bonuses |  |  |  | 453 |
| Litigation (recovery) expense | (2230) | 597 | (2230) | 1923 |
| Adjustments to tax provision | (4300) | (3339) | (7530) | (6169) |
| NON-GAAP NET INCOME | $186618 | $48366 | $378818 | $79767 |
| GAAP NET INCOME PER COMMON SHARE – BASIC | $3.31 | $0.82 | $6.84 | $1.32 |
| Impact of Non-GAAP adjustments | 0.20 | 0.12 | 0.34 | 0.24 |
| NON-GAAP NET INCOME PER COMMON SHARE – BASIC | $3.51 | $0.94 | $7.18 | $1.56 |

---

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**SUPER MICRO COMPUTER, INC.**

**RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES**

**(in thousands except per share amounts)**

 **(unaudited)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Three Months Ended December 31,** | **Three Months Ended December 31,** | **Six Months Ended December 31,** | **Six Months Ended December 31,** |
| | **2022** | **2021** | **2022** | **2021** |
| GAAP NET INCOME PER COMMON SHARE – DILUTED | $3.14 | $0.78 | $6.51 | $1.27 |
| Impact of Non-GAAP adjustments | 0.12 | 0.10 | 0.18 | 0.19 |
| NON-GAAP NET INCOME PER COMMON SHARE – DILUTED | $3.26 | $0.88 | $6.69 | $1.46 |
| WEIGHTED-AVERAGE SHARES USED IN COMPUTING NET INCOME PER COMMON SHARE |  |  |  |  |
| BASIC – GAAP | 53160 | 51314 | 52726 | 51055 |
| BASIC – NON-GAAP | 53160 | 51314 | 52726 | 51055 |
| DILUTED – GAAP | 56144 | 53511 | 55427 | 53213 |
| DILUTED – NON-GAAP | 57318 | 54947 | 56641 | 54655 |

---

Non-GAAP diluted net income per common share for the first quarter of fiscal year 2023 ended September 30, 2022 was $3.42, which adds back the impact of stock-based compensation expenses, net of the related tax effects of $0.07 per common share.

<br>