Super Micro Computer (SMCI.US) files its Q4 earnings after the deadline, resulting in a significant after-hours stock price surge.

According to Zhitong Finance, Super Micro Computer (SMCI.US) rose more than 25% in after-hours trading after the company filed its financial report, which met Nasdaq's requirements, easing concerns that the server manufacturer could be delisted. The company reported its 2024 fiscal year in a filing to the U.S. Securities and Exchange Commission on Tuesday. It also filed its quarterly financial statements as of September 30 and December 31.

Super Micro said: "Although we have submitted all of our delinquent reports by February 25, 2025, we expect to continue to face many of the risks and challenges related to our previous failure to file reports with the SEC." The stock closed at $45.54 on Tuesday and climbed to a high of $56.93 in after-hours trading. The stock had fallen 24% from February 19 to Tuesday's close as investors grew increasingly anxious as the deadline approached.

Super Micro failed to file its annual financial report as of June 30 by the August deadline, and was trying to avoid delisting. The company's auditor, Ernst & Young, resigned in October last year, citing concerns about governance and transparency. The company also faced a U.S. Department of Justice investigation after a report from short seller Hindenburg Research.

Nasdaq extended the deadline for Super Micro to file its delayed filings and comply with listing rules until Tuesday. Last December, Super Micro said an independent review of its business found no evidence of wrongdoing, but the company committed to appointing new chief financial officer and other executives.

Super Micro said in a statement separate from the filing that it had received a letter from Nasdaq staff stating that the company had regained compliance with its filing requirements and that the matter was now closed.

Super Micro said in its fiscal year report that it had concluded that its internal controls over financial reporting were not effective and had "initiated remedial measures." However, Super Micro warned that it may "be unable to remediate material weaknesses in internal control over financial reporting." Super Micro also highlighted potential risks, including its failure to "recover lost business or business opportunities due to the ongoing reputational damage." Earlier this month, the company's chief executive Charles Liang said the delays in its filings had had some negative impact on its business.

Super Micro released "business updates" with preliminary sales and profit results instead of audited financial information in recent quarters. Earlier this month, the company announced a sales forecast for the fiscal year ending June 2026 of $40 billion, which was far above expectations.