Super Micro Computer, Inc.(SMCI) 2024 年第二季度财报电话会议记录

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$Super Micro Computer, Inc.(SMCI)$


Super Micro Computer, Inc. (NASDAQ:SMCI) Q2 2024 Earnings Conference Call January 29, 2024 5:00 PM ET

Company Participants

Charles Liang - Founder, President and CEO

David Weigand - Chief Financial Officer

Michael Staiger - Vice President, Corporate Development

Conference Call Participants

George Wang - Barclays

Samik Chatterjee - J.P. Morgan

Nehal Choski - Northland Capital Markets

Jon Tanwanteng - CJS Securities

Quinn Bolton - Needham

Aaron Rakers - Wells Fargo

Ananda Baruah - Loop Capital


Thank you for standing by. My name is Cole and I'll be your conference operator today. At this time, I would like to welcome everyone to Super Micro Computer Fiscal Second Quarter 2024 Results.

With us today, Charles Liang, Founder, President, and Chief Executive Officer; David Weigand, CFO; and Michael Staiger, Vice President of Corporate Development. All lines have been placed on mute to prevent any background noise. After the speaker's remarks there will be a question-and-answer session. [Operator Instructions]

And with that, I'd like to pass the call over to Michael Staiger.

Michael Staiger

Good afternoon, and thank you for attending Supermicro's call to discuss financial results for the second quarter, which ended December 31, 2023. With me today are Charles Liang, Founder, Chairman, and Chief Executive Officer; and David 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 in the Investor Relations 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 will 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 guidance for the third quarter of fiscal year 2024 and the full fiscal year 2024. There are a number of risk factors that could cause Super Micro’s future results to differ materially from our expectations. You can learn more about these risks in the press release we issued earlier this afternoon, our most recent 10-K filing for fiscal 2023 and our other SEC filings. All of these documents are available on the Investor Relations page of Super Micro’s website. We assume no obligation to update any forward-looking statements.

Most of today’s presentation will refer to non-GAAP financial results and business outlook. For an explanation of our non-GAAP financial measures, please refer to the accompanying presentation or the press release published earlier today. In addition, a reconciliation of GAAP to non-GAAP results is contained in today’s press release and in the supplemental information attached to today’s presentation. At the end of today’s prepared remarks, we will have a Q&A session for sell-side analysts to ask questions.

I will now turn the call over to Charles.

Charles Liang

Thank you, Michael and good afternoon everyone. I'm delighted to share our second quarter results, which show a record-breaking performance for Super Micro. We achieved revenue of $3.66 billion, a 133% increase from last year, and earnings per share of $5.59. This is our first quarter ever with over $3 billion revenue. More importantly, this single quarter's revenue surpassed our annual revenue for 2021. This fantastic quarterly result was driven by strong demand and improving supply conditions for GPU and related key system components.

Our rack-scale plug-and-play IT and AI Total Solution continues to gain more new customers, along with their confidence in Super Micro as their go-to infrastructure partner. Our AI rack-scale solutions, especially the Deep-Learning and LLM-optimized based on NVIDIA HGX-H100, continue gaining high popularity. The demand for AI inferencing systems and mainstream compute solutions has also started to grow.

The exciting news is that, finally, we are entering an accelerating demand phase now from many more customer wins. To support faster growth, we have increased our working capital recently by raising about $600 million with an equity offering. Moreover, we have other programs to increase our cashflow without additional equity dilution to support short and long-term sustainable growth. Overall, I feel very confident that this AI boom will continue for another many quarters, if not many years. And together with the related inferencing and other computing eco system requirements, demand can last for even many decades to come, we may call this an AI revolution.

Super Micro Computer, Inc. (NASDAQ:SMCI) Q2 2024 Earnings Conference Call January 29, 2024 5:00 PM ET

Company Participants

梁志偉 - 创始人, 总裁兼首席执行官

David Weigand - 首席财务官

Michael Staiger - 副总裁,企业发展

Conference Call Participants

王乔治 - 巴克莱

Samik Chatterjee - 摩根大通

Nehal Choski - 北国资本市场

Jon Tanwanteng - CJS证券

Quinn Bolton - Needham


安达巴鲁 - Loop Capital




And with that, 我想把电话交给 Michael Staiger。

Michael Staiger

下午好,感谢您参加Supermicro讨论截至2023年12月31日的第二季度财务业绩的电话会议。今天和我一起的有Charles Liang,创始人、董事长和首席执行官;以及David Weigand,首席财务官。您现在应该已经收到了公司发布的新闻稿副本,该新闻稿在常规交易结束时分发,并在公司的网站上提供。





Charles Liang

谢谢你,Michael,大家下午好。我很高兴地宣布我们的第二季度业绩,这是超微公司表现空前绝后的一季。我们的收入达到了36.6亿美元,比去年增长了133%,每股收益为5.59美元。这是我们有史以来首次实现了30亿美元以上的季度收入。更重要的是,这个季度的收入超过了我们2021年全年的收入。这一季度的出色业绩得益于对 GPU 及相关关键系统组件需求的增长和供应条件的改善。

我们的机架规模即插即用的IT和AI全套解决方案继续吸引更多新客户,他们对Super Micro作为其基础设施合作伙伴的信心与日俱增。我们的AI机架规模解决方案,尤其是基于NVIDIA HGX-H100的深度学习和LLM优化技术,受到了广泛欢迎。对AI推理系统和主流计算解决方案的需求也开始增长。