Super Micro Files Delayed Reports, Eases Delisting Concerns

Super Micro Computer Inc. regained compliance with Nasdaq requirements by submitting its delayed annual and quarterly financial reports, alleviating fears of delisting. The company reported its fiscal year results for 2024 and acknowledged ongoing risks related to its previous delinquency in filing. Following the filings, Super Micro's stock rose more than 20% in extended trading, as investors responded positively to the news. The company had faced scrutiny after failing to meet an August 2024 deadline, which led to auditor resignations and a U.S. Department of Justice investigation spurred by Hindenburg Research's allegations. Despite the compliance, Super Micro admitted that its internal controls over financial reporting were ineffective and has begun remediation efforts. The company has reassured investors that it has closed the compliance matter with Nasdaq after meeting the required deadlines.