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Supermicro (NASDAQ: SMCI) shares soared 17% in after-hours trading Tuesday after the company filed its delayed financial reports, regaining compliance with NASDAQ listing requirements. The stock had dropped 11.8% earlier in the session but rebounded sharply on the news.
The company submitted its 10-K for the fiscal year ending June 30, 2024, along with its 10-Qs for the quarters ending September 30 and December 31, 2024. These filings were delayed due to governance and transparency concerns raised by its former auditor, Ernst & Young, which resigned last year. Supermicro appointed BDO USA, P.C. as its new accounting firm in November. A Special Committee found no integrity issues with senior management or the Audit Committee.
Supermicro’s stock has been on a tear since it reported preliminary Q2 results on February 11. While the quarterly figures were solid, it was the company’s bullish forecast that truly excited investors. CEO Charles Liang projected fiscal 2026 revenue could hit $40 billion—a staggering 70% growth from 2025—driven by the ramp-up of NVIDIA’s (NASDAQ: NVDA) Blackwell server. Liang even hinted that this estimate might be conservative.
Since this update, Supermicro shares have surged 36%, making it one of the hottest AI-driven growth stocks. With the delayed filings behind it, the next major catalyst is NVIDIA’s earnings report, set for release after the market closes on Wednesday. Given Supermicro’s deep ties to NVIDIA’s AI infrastructure, investors are watching closely to see if the rally continues.
