Super Micro Computer, Inc. stock research
FY2023 Q4
Super Micro Computer (SMCI) Gross Margin — Quarter Ended Jun 30, 2023
Revenue grew substantially compared with both the prior quarter and the same quarter a year earlier. Gross profit also rose, but cost of revenue increased at a faster pace, resulting in a slightly lower gross margin.
Gross margin takeaway
Quarter ended Jun 30, 2023 · FY2023 Q4
Revenue grew substantially compared with both the prior quarter and the same quarter a year earlier. Gross profit also rose, but cost of revenue increased at a faster pace, resulting in a slightly lower gross margin.
- The gross margin weakened sequentially and year-over-year, as cost of revenue consumed a larger share of total revenue.
- Sequentially, revenue rose markedly while gross margin edged lower; compared with the same quarter last year, revenue also increased and gross margin was slightly below the prior-year level.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
17.0%
Gross profit
$371.7M
Revenue
$2.2B
Cost of revenue
$1.8B
Quarter-over-quarter change
-0.6 pts
Year-over-year change
-0.6 pts
Quarterly gross margin trend
A four-quarter view of the revenue and direct-cost bridge behind gross margin.
| Period | Revenue | Gross profit | Cost of revenue | Gross margin |
|---|---|---|---|---|
| Mar 31, 2023 | $1.3B | $226.4M | $1.1B | 17.6% |
| Jun 30, 2023 | $2.2B | $371.7M | $1.8B | 17.0% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Mar 31, 2023
-0.6 pts
Year-over-year change
Jun 30, 2022
-0.6 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The gross margin weakened sequentially and year-over-year, as cost of revenue consumed a larger share of total revenue.
Sequentially, revenue rose markedly while gross margin edged lower; compared with the same quarter last year, revenue also increased and gross margin was slightly below the prior-year level.
Monitor the relationship between cost of revenue growth and revenue growth, as well as supply chain conditions noted in the filing that may affect cost trends.