Super Micro Q2 Revenue Misses Estimates, Stock Drops 15.7%

Super Micro (NASDAQ:SMCI) reported Q2 revenue of $5.76 billion, missing estimates of $6.01 billion. The company's non-GAAP profit of $0.41 per share was also below analysts' consensus. Revenue guidance for Q3 is $6.5 billion, below estimates of $6.69 billion. Adjusted EPS guidance for Q3 is $0.46, below estimates of $0.59.

Super Micro Computer Inc. (SMCI), a leading provider of AI and data center solutions, reported its Q2 2025 financial results, which fell short of analyst expectations. The company reported revenue of $5.76 billion, missing estimates of $6.01 billion, and non-GAAP earnings per share (EPS) of $0.41, below the consensus of $0.45. This marks the second consecutive quarter where SMCI has missed revenue and EPS estimates.

Despite the misses, the company provided guidance for Q3 2025. SMCI expects Q3 revenue of $6.5 billion, which is below the estimated $6.69 billion. Adjusted EPS guidance for Q3 is $0.46, below the estimated $0.59. The company attributed the Q2 shortfall to capital constraints and specification changes from a major new customer, which delayed revenue recognition.

SMCI's Q2 results were impacted by the delayed filing of its fiscal year 2024 10-K and delayed revenue recognition from a major new partner. However, the company remains focused on its strategic priorities, optimizing its solutions, and capturing market share. The number of large-scale plug-and-play direct customers grew from two in fiscal year 2024 to four in fiscal year 2025, indicating strong momentum and growth potential.

Looking ahead, SMCI expects improved chip and resource availability, which could enhance margins and support growth in AI and enterprise markets. The company's financial health score is rated as "GREAT" by InvestingPro analysts, with strong momentum and growth metrics.

References:
[1] https://www.investing.com/news/transcripts/earnings-call-transcript-super-micro-computer-q4-2025-earnings-miss-expectations-93CH-4171697