Super Micro Computer, Inc. · NASDAQ:SMCI
Super Micro Computer — Q1 FY2016 Earnings Presentation
17 slides from Super Micro Computer's earnings presentation, Oct 22, 2015
Slide 1: First Quarter Fiscal 2016 Earnings Conference Presentation
© Supermicro 2014 First Quarter Fiscal 2016 Earnings Conference Presentation October 22, 2015 Exhibit 99.2
Slide 2: Safe Harbor Statement
2 Safe Harbor Statement This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements may relate, among other things, to our expec
Slide 3: Non-GAAP Financial Measures
3 Non-GAAP Financial Measures Non-GAAP gross margin in this presentation excludes stock-based compensation expense. Non- GAAP net income and net income per share in this presentation exclude stock-based compensation expense and the related tax effect of the applicable items. Management presents non-
Slide 4: Q1'FY2016 Non-GAAP Financial Highlights
4 Q1’FY2016 Non-GAAP Financial Highlights (in millions, except per share data) Q1'16 YoY Sequential Revenue $530.2 19.6% -7.6% Profit after Tax $23.4 1.0% -21.9% EPS $0.45 -2.2% -21.1% Change
Slide 5: Summary of Results
5 Summary of Results Revenues were 19.6% higher year over year OEM and Direct business was 55% of total revenues and Internet Data Center was 24.8% of total revenues System business was 69.2% of total revenues Revenues by Geography: US –65.4 % Europe – 16.6% Asia – 14.2% Other – 3.8%
Slide 6: World's Best Server/Storage Product Lines
The Ultra 1U and 2U Haswell Product Lines 24 DIMM, 160W Xeon CPU, Flexible I/O, NVMe support… One platform optimized for many applications 3 to 15% less power consumption than competition The 2U TwinPro and FatTwin Most optimized for Hyperconvengence Applications HPC and Datacenter app
Slide 7: Revenue Trend
7 Revenue Trend Q1'15 Q2'15 Q3'15 Q4'15 Q1'16 $443 $503 $471 $574 $530 $'s millions Supermicro Revenue Trend Y/Y 43.5% 41.2% 26.1% 34.0% 19.6% Seq. 6 13 5 - 3 21 7 -7
Slide 8: Revenue Analysis
8 Revenue Analysis Q1'15 Q2'15 Q3'15 Q4'15 Q1'16 $188 $201 $169 $220 $163 $255 $302 $302 $354 $367 $'s millions Supermicro Subsystems/System Revenue Subsystems Systems
Slide 9: Non-GAAP Gross Margins
9 Non-GAAP Gross Margins 1.0% 3.0% 5.0% 7.0% 9.0% 11.0% 13.0% 15.0% 17.0% 19.0% Q1'15 Q2'15 Q3'15 Q4'15 Q1'16 15.7% 16.8% 16.3% 15.7% 15.7%
Slide 10: Non-GAAP Operating Margin
10 Non-GAAP Operating Margin 0.0% 1.0% 2.0% 3.0% 4.0% 5.0% 6.0% 7.0% 8.0% 9.0% 10.0% Q1'15 Q2'15 Q3'15 Q4'15 Q1'16 7.8% 9.1% 7.4% 7.8% 6.8%
Slide 11: Summary P&L non-GAAP
11 Summary P&L non-GAAP (in millions, except per share data) Q1'16 YoY Sequential Q1'15 Q4'15 Operating Expense $47.1 $12.3 $1.9 $34.8 $45.3 Operati g Expense Ratio 8.9% 1.0% 1.0% 7.9% 7.9% Operating Income $35.9 $1.3 -$8.8 $34.6 $44.8 Net Income $23.4 $0.2 -$6.6 $23.2 $30.0 EPS $0.45 -$0.01 -$0.12
Slide 12: Q1 FY2016 YTD Summary Statement of Cash Flows
12 Q1 FY2016 YTD Summary Statement of Cash Flows ($’s millions) 3 Months Ended 3 Months Ended 30-Sep-15 30-Sep-14 Net Income $20.5 $20.9 Depreciation and amortization $2.8 $1.8 Stock-based comp expense $3.9 $3.0 Other reserves -$2.5 $1.6 Net change in AR, Inventory, AP -$11.8 -$6.8 Other prepaids an
Slide 13: Q1 FY2016 Summary of Balance Sheet Metrics
Q1 FY2016 Summary of Balance Sheet Metrics ($’s millions) 13 Q1'16 Q4'15 Change Cash Equivalents & Investments 113.6$ 98.1$ 15.5$ Accounts Receivable 297.1$ 322.6$ (25.5)$ Inventory 461.4$ 463.5$ (2.1)$ Accounts Payable 263.2$ 299.8$ (36.6)$ DSO 54 43 11 DIO 95 83 12 DPO 58 52 6 Cash Cycle Days 91 7
Slide 14: Supplemental Financials
14 Supplemental Financials First Quarter Fiscal 2016 Ended September 30, 2015
Slide 15: Prior Period Net Income Comparisons
15 Prior Period Net Income Comparisons (in millions, except per share data) * Note: Non-GAAP, please see Non-GAAP financial measures on page 3. Q1'16 Q4'15 Q1'15 Net Income (GAAP) 20.5$ 26.7$ 20.9$ Stock-based Compensation Expense (tax affected)* 2.9$ 3.3$ 2.3$ Net Income (Non-GAAP)* 23.4$ 30.0$ 23.
Slide 16: Non-GAAP Financial Summary
16 Non-GAAP Financial Summary (in millions, except per share data) Q1'16 Q4'15 Q1'15 Net Sales 530.2$ 573.6$ 443.3$ Non-GAAP Gross Margin 15.7% 15.7% 15.7% Non-GAAP Operating Expenses 47.1$ 45.3$ 34.8$ Non-GAAP Operating Income 35.9$ 44.8$ 34.6$ Non-GAAP Net Income 23.4$ 30.0$ 23.2$ Non-GAAP Net Inc
Slide 17: Quarterly Net Income GAAP to Non-GAAP Reconciliation
17 Quarterly Net Income (Loss) GAAP to Non-GAAP Reconciliation (in millions, except per share data) * Note: Non-GAAP, please see Non-GAAP financial measures on page 3. Q1'16 Q4'15 Q3'15 Q2'15 Q1'15 Net income (GAAP) 20.5$ 26.7$ 23.1$ 31.2$ 20.9$ Adjustments: Stock-based compensation expense 3.9$ 4.0
Super Micro Computer — Q1 FY2016 Earnings Presentation on 6ix