Super Micro Computer Inc
For the period ended Jun 30, 2024. Filed Feb 25, 2025.
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FY2024 · Filed Feb 25, 2025
SMCI$27.79-2.8%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
(in thousands)
| Years Ended June 30, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| OPERATING ACTIVITIES: | |||
| Net income | $1,152,666 | $639,998 | $285,163 |
| Reconciliation of net income to net cash (used in) provided by operating activities: | |||
| Depreciation, amortization and non-cash interest | 40,985 | 34,904 | 32,471 |
| Stock-based compensation expense | 231,507 | 54,433 | 32,816 |
| Share of (income) loss from equity investee | (1,821) | 3,633 | (1,206) |
| Unrealized foreign currency exchange gain | (531) | (2,619) | (13,747) |
| Deferred income taxes, net | (168,499) | (92,969) | (6,817) |
| Other | 12,343 | (668) | 368 |
| Changes in operating assets and liabilities: | |||
| Accounts receivable, net (including changes in related party balances of $(721), $2,925 and $280 in fiscal years 2024, 2023 and 2022, respectively) | (1,589,187) | (311,897) | (372,438) |
| Inventories | (2,899,996) | 100,042 | (504,642) |
| Prepaid expenses and other assets (including changes in related party balances of $15,793, $(3,320) and $(575) in fiscal years 2024, 2023 and 2022, respectively) | (44,646) | 8,313 | (28,794) |
| Accounts payable (including changes in related party balances of $76,161, $1,779 and $17,259 in fiscal years 2024, 2023 and 2022, respectively) | 679,190 | 127,135 | 50,145 |
| Accrued liabilities (including changes in related party balances of $(13,847), $(4,659) and $148 in fiscal years 2024, 2023 and 2022, respectively) | 92,942 | (50,311) | 35,891 |
| Income taxes payable | (110,897) | 87,423 | 29,002 |
| Deferred revenue | 111,927 | 70,587 | 31,544 |
| Other long-term liabilities (including changes in related party balances of $(178), $(321) and $499 in fiscal years 2024, 2023 and 2022, respectively) | 8,045 | (4,424) | (10,557) |
| Net cash (used in) provided by operating activities | (2,485,972) | 663,580 | (440,801) |
| INVESTING ACTIVITIES: | |||
| Purchases of property, plant and equipment (including payments to related parties of $10,625, $7,844 and $4,818 in fiscal years 2024, 2023 and 2022, respectively) | (124,279) | (36,793) | (45,182) |
| Investment in equity securities | (69,673) | (500) | (1,100) |
| Acquisition, net of cash acquired | (296) | (2,193) | — |
| Net cash used in investing activities | (194,248) | (39,486) | (46,282) |
| FINANCING ACTIVITIES: | |||
| Proceeds from lines of credit and term loans | 2,156,529 | 1,093,860 | 1,153,317 |
| Repayment of lines of credit and term loans | (1,967,545) | (1,394,391) | (640,695) |
| Payment of other fees for debt financing | — | — | (592) |
| Proceeds from exercise of stock options | 29,453 | 30,466 | 20,994 |
| Payment of withholding tax on vesting of restricted stock units | (174,354) | (28,197) | (10,081) |
| Stock repurchases | — | (149,998) | — |
| Issuances of common stock in public offerings, net of issuance costs of $42,575 | 2,313,983 | — | — |
| Proceeds from issuance of 2029 Convertible Notes, net of issuance costs of $29,232 | 1,695,768 | — | — |
| Purchase of capped calls | (142,140) | — | — |
| Other | 30 | (33) | (72) |
| Net cash provided by (used in) financing activities | 3,911,724 | (448,293) | 522,871 |
| Effect of exchange rate fluctuations on cash | (2,191) | (3,400) | (678) |
| Net increase in cash, cash equivalents and restricted cash | 1,229,313 | 172,401 | 35,110 |
| Cash, cash equivalents and restricted cash at beginning of year | 440,960 | 268,559 | 233,449 |
| Cash, cash equivalents and restricted cash at end of year | $1,670,273 | $440,960 | $268,559 |
| Supplemental disclosure of cash flow information: | |||
|---|---|---|---|
| Cash paid for interest | $16,015 | $8,541 | $5,492 |
| Cash paid for taxes, net of refunds | $392,020 | $114,963 | $19,690 |
| Non-cash investing and financing activities: | |||
| Unpaid property, plant and equipment purchases (including due to related parties of $2,339, $810 and $689 as of June 30, 2024, 2023 and 2022, respectively) | $19,613 | $2,181 | $7,825 |
| Right of use ("ROU") assets obtained in exchange for operating lease commitments | $32,581 | $3,197 | $11,151 |
| Transfer of inventory to property, plant and equipment, net | $12,535 | $— | $— |
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