SMCISupermicro

Technology · Computer Hardware · Nasdaq

We are a Silicon Valley-based provider of total information technology ("IT") solutions which address demanding workloads from the enterprise and cloud to the intelligent edge. 10-K, Item 1

Employees: 7,000
Headquarters: San Jose, CA
CEO: Charles Liang
Next results: around Feb 2, 2027

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What the 10-K filed 2026-08-31 says about risks that are not on the face of the balance sheet, from the notes to the financial statements, Legal Proceedings and the MD&A (and, for big customers and key suppliers, Business and Risk Factors). Tickdelta picks sentences with specifics (amounts, accruals, covenant ratios) and quotes them as filed. New marks a sentence with nothing like it in the 10-K filed 2025-08-28.

Big customers

4 new

Customers the company names as a large share of revenue or receivables (it must name any worth 10% of revenue).

New “As of June 30, 2026, three customers accounted for 23.0%, 17.1%, and 12.5% of our accounts receivable balance.”
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New “As of June 30, 2025, two customers accounted for 33.4% and 13.6% of our accounts receivable balance.”
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New “For the fiscal year ended June 30, 2026, sales to one customer represented 28.1% of total net sales.”
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New “For the fiscal year ended June 30, 2025, sales to four customers represented 20.9%, 11.5%, 11.3%, and 11.1% of total net sales.”
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Key suppliers

1 new

Parts or manufacturing that depend on one or a few suppliers.

“We rely on a limited number of suppliers for certain components used to manufacture our products;”
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“We rely on a limited number of suppliers for certain components used to manufacture our products.”
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“Certain components used in the manufacture of our products are available from a limited number of suppliers.”
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New “One supplier accounted for a significant portion of our total purchases in fiscal year 2026 of 63.1%, and two suppliers accounted for a significant portion of our total purchases in fiscal year 2025 of 64.4% and 5.1%, and 65.4% and 6.3% in fiscal year 2024, respectively.”
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Lawsuits and legal claims

Pending cases, settlements and what the company has set aside for them.

“Litigation, Investigation, and Settlement Costs”
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“There are many uncertainties associated with any litigation or investigation, and we cannot be certain that these actions or other third party claims against us will be resolved without litigation, fines and/or substantial settlement payments or judgments.”
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“If information becomes available that causes us to determine that a loss in any of our pending litigation, investigations or settlements is probable, and we can reasonably estimate the loss associated with such events, we will record the loss.”
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“We accrue legal fees for litigation as the legal services are provided.”
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“The plaintiffs in the Derivative Litigation seek unspecified money damages, in addition to punitive damages and other relief.”
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Guarantees and indemnities

Promises to pay someone else's debts or losses if they cannot.

“The Chang Hwa Bank Credit Facility permits borrowings of up to NTD 1,000.0 million (the “Chang Hwa Bank Term Loan Facility”), including up to $20.0 million as loans, advances, acceptances, bills, bank guarantees, overdrafts, letters of credit, and other types of drawdown instruments (the “CHB Credit Lines”).”
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“It is not possible to determine the maximum potential amount of payments we could be required to make under these agreements due to the limited history of prior indemnification claims and the unique facts and circumstances involved in each claim.”
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Debt covenants

3 new

Conditions in loan agreements that, if broken, can make debt due early.

New “The Credit Agreement includes customary restrictive covenants (some of which are not applicable during an investment grade period), including limitations on indebtedness, investments, and restricted payments, and a maximum total net leverage ratio covenant of 4.00:1.00 for the first four full fiscal quarters after inception, stepping down to 3.50:1.00 for the next four full fiscal quarters, and 3.00:1.00 thereafter.”
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“For the Long and Medium Loan Facility, the Taiwan subsidiary is subject to various financial covenants, including current ratio, debt service coverage ratio, and financial debt ratio requirements.”
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New “A one-time waiver was granted by E.SUN Bank for the verification of the debt-to-net worth and interest coverage ratios for the period ending October 31, 2026, thereby, eliminating the requirement to review the above noted covenants.”
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New “As of June 30, 2026, we were in compliance with all covenants for the credit lines, term loan facilities, and revolving credit facilities on our consolidated balance sheets.”
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Commitments off the balance sheet

Contracts the company must pay for later: purchase obligations, take-or-pay deals.

“As noted in Note 15, “Commitments and Contingencies” in the notes to the consolidated financial statements, we have current obligations related to non-cancelable purchase commitments of $34.2 billion.”
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Sentences are chosen by their words, not read by AI, so some can be off topic. Always check the filing. Open the 10-K ↗

Work on SMCI in a spreadsheet: Excel workbook (a sheet per section, ten years by column, charts, links to the filings) · CSV. For a Google Sheet that stays up to date, paste =IMPORTDATA("https://tickdelta.com/company/SMCI/export.csv") into a cell.