Supermicro has submitted its financial statements, audited and certified by the SEC, for the fiscal year ending June 2024, as well as quarterly performance reports for September and December, all delivered on schedule. This compliance has enabled the company to avoid being delisted from NASDAQ.
As a result of timely reporting, Supermicro’s stock price has surged over 22% following the completion of the sale. CEO Charles Liang expressed relief at the completion of retroactive filings, freeing the company from past burdens and allowing a renewed focus on developing new technologies and AI solutions for customers.
Previously, Supermicro had postponed financial reporting after Ernst & Young resigned, citing transparency issues. BDO was appointed as the new auditor, with the independent committee confirming no operational concerns. BDO’s accounting review affirmed the accuracy and completeness of the financial data.
Source: CNBC and Supermicro
TLDR: Supermicro’s timely financial reporting has boosted stock prices, paving the way for enhanced focus on new technologies and AI solutions for customers.
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