Super micro computer shares have increased by 14% as the company’s files have delayed financially

Super micro computer Shares held 14% rallies after AI Server Company Its delayed financial results filed From the time limit of Nasdaq.

Company auditor bdo Filled Consolidated financial statements for the financial year ending on June 30, 2024, “Currently, in all physical matters, the company’s financial position” and “correspond to generally accepted accounting principles in the US”

The company also filed financial results for the first two quarters of the financial year 2025 and stated in a release that it has “compliant” with the filing requirements of Nasdaq.

For the financial year, Super Micro stated that its sales exceeded $ 14.99 billion from $ 7.12 billion in 2023. The net income was about $ 1.15 billion, which was approximately $ 640 million in 2023.

In an enclosed note with management, Super Micro stated that it had identified the weaknesses of materials in internal control over financial reporting. This includes the issue of information technology, lack of documentation on manual journal entries and inadequate controls to address the isolation of employees’ duties. Super Micro said it is planning to hire additional accounting and audit employees and upgrade the IT system.

Super Micro stated in the filing that it still faces risks, including potential litigation, low credit ratings and reputed disadvantages associated with its late financial reports.

The demand for a super micro server packed with NVIDIA graphics processing chips has intensified among the AI ​​boom, which has shed the technology community since the launch of CHATGPT. However, troubles started in the form of Hindonburg Research last year A small situation detectedCompany Delayed release Its annual report, and its Auditor left Due to the concerns of governance.

Fears of a possible abundance from Nasdaq put more pressure on super micro stock in recent months, with 48% shares on year-to-year basis. There was instability in Tuesday’s release, with about 12%of the stocks closed.

In December, the company removed its Chief Financial Officer and said that a review was found “No evidence of misconduct“Earlier this month, CEO Charles Liang said that he The company was “confident” The US will complete the February 25 deadline to record its results with the Securities and Exchange Commission.

– KIF Leswing of CNBC contributed reporting.