Super Micro Computer, Inc. stock research
FY2025 Q1
Super Micro Computer (SMCI) Gross Margin — Quarter Ended Sep 30, 2024
Revenue increased compared to both the prior quarter and the same quarter last year, while gross profit also rose in both comparisons. Cost of revenue grew in tandem, and gross margin improved from the prior quarter but was lower than the year-ago level.
Gross margin takeaway
Quarter ended Sep 30, 2024 · FY2025 Q1
Revenue increased compared to both the prior quarter and the same quarter last year, while gross profit also rose in both comparisons. Cost of revenue grew in tandem, and gross margin improved from the prior quarter but was lower than the year-ago level.
- Gross margin strengthened sequentially, moving from a lower level in the prior quarter to a higher level in the current quarter. The year-over-year comparison shows a decline, indicating that the margin has not returned to the level seen one year earlier.
- Compared to the immediately preceding quarter, revenue and gross profit were higher, and gross margin improved. Compared to the same quarter one year earlier, revenue and gross profit were higher, but gross margin was lower.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
13.1%
Gross profit
$775.6M
Revenue
$5.9B
Cost of revenue
$5.2B
Quarter-over-quarter change
+2.9 pts
Year-over-year change
-3.6 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 |
|---|---|---|---|---|
| Dec 31, 2023 | $3.7B | $564.3M | $3.1B | 15.4% |
| Mar 31, 2024 | $3.9B | $597.4M | $3.3B | 15.5% |
| Jun 30, 2024 | $5.4B | $546.0M | $4.8B | 10.2% |
| Sep 30, 2024 | $5.9B | $775.6M | $5.2B | 13.1% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Jun 30, 2024
+2.9 pts
Year-over-year change
Sep 30, 2023
-3.6 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
Gross margin strengthened sequentially, moving from a lower level in the prior quarter to a higher level in the current quarter. The year-over-year comparison shows a decline, indicating that the margin has not returned to the level seen one year earlier.
Compared to the immediately preceding quarter, revenue and gross profit were higher, and gross margin improved. Compared to the same quarter one year earlier, revenue and gross profit were higher, but gross margin was lower.
Monitor the trajectory of gross margin relative to the year-ago level, as the current quarter's margin remains below that benchmark despite sequential improvement.