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Super Micro Stumbles as AI Server Sales Disappoint Expectations
6 Aug
Summary
- Super Micro's Q4 2025 earnings and revenue miss Wall Street forecasts
- CEO cites capital constraints and supply chain issues with Nvidia chips
- Company delayed 10-K filing, facing accounting probe and risk of Nasdaq delisting
On August 6, 2025, Super Micro Computer (SMCI) found itself in the spotlight as its Q4 2025 financial results fell short of Wall Street's expectations. The troubled AI server maker reported adjusted earnings per share of $0.41, less than the $0.44 projected by analysts. Its quarterly revenue of $5.76 billion also fell below the $6 billion forecast, while its gross profit of $551 million fell short of the estimated $601 million.
The company's projections for the current quarter's adjusted earnings per share of $0.40-$0.52 also disappointed, though its revenue guidance of at least $33 billion topped estimates. CEO Charles Liang attributed the earnings disappointment to "a capital constraint that limited our ability to rapidly scale production" and "supply chain bottlenecks in receiving chips from Nvidia" to make its servers.
The news comes as Super Micro faces additional challenges, including a delayed 10-K filing to the SEC and an ongoing accounting probe. Last year, the company was accused of accounting violations, export control issues, and questionable relationships between its executives and suppliers by short-selling firm Hindenburg Research. These issues have put Super Micro at risk of being delisted by the Nasdaq.
