Super Micro Computer, Inc.
For the period ended Jun 30, 2026. Filed Aug 31, 2026.
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FY2026 · Filed Aug 31, 2026
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
CONSOLIDATED STATEMENTS OF CASH FLOWS
(in thousands)
| Years Ended June 30, | |||
|---|---|---|---|
| 2026 | 2025 | 2024 | |
| OPERATING ACTIVITIES: | |||
| Net income | $2,230,453 | $1,048,854 | $1,152,666 |
| Reconciliation of net income to net cash (used in) provided by operating activities: | |||
| Depreciation and amortization | 53,673 | 41,298 | 29,617 |
| Amortization of right-of-use (“ROU”) assets | 36,594 | 17,046 | 9,076 |
| Amortization of debt discount and issuance costs | 25,889 | 10,268 | 2,292 |
| Inventory valuation adjustment write-down | 188,110 | 232,083 | 83,004 |
| Stock-based compensation expense | 412,115 | 314,452 | 231,507 |
| Impairment loss and gain on sale of investments, net | 414 | — | — |
| Share of loss (income) from equity investees | 2,482 | 6,211 | (1,821) |
| Unrealized foreign currency exchange (gain) loss | 976 | 18,832 | (531) |
| Loss on extinguishment of convertible notes | — | 30,251 | — |
| Deferred income taxes, net | (95,367) | (214,638) | (168,499) |
| Other non-cash (income) expense, net | (16,956) | (3,077) | 12,343 |
| Changes in operating assets and liabilities: | |||
| Accounts receivable, net (including changes in related party balances of $(231), $5,801, and $(721) in fiscal years 2026, 2025, and 2024, respectively) | (3,921,872) | 533,341 | (1,589,187) |
| Inventories | (8,876,747) | (587,689) | (2,983,000) |
| Prepaid expenses and other assets (including changes in related party balances of $12,728, $(1,806), and $15,793 in fiscal years 2026, 2025, and 2024, respectively) | (356,230) | (229,107) | (44,646) |
| Accounts payable (including changes in related party balances of $(12,690), $(35,543), and $76,161 in fiscal years 2026, 2025, and 2024, respectively) | 963,258 | (180,968) | 679,190 |
| Accrued liabilities (including changes in related party balances of $169, $874, and $(13,847) in fiscal years 2026, 2025, and 2024, respectively) | 406,200 | 272,404 | 92,942 |
| Income taxes payable | 213,532 | 32,043 | (110,897) |
| Deferred revenue | 1,880,650 | 315,006 | 111,927 |
| Other long-term liabilities (including changes in related party balances of $(246), $608, and $(178) in fiscal years 2026, 2025, and 2024, respectively) | 42,940 | 2,914 | 8,045 |
| Net cash (used in) provided by operating activities | (6,809,886) | 1,659,524 | (2,485,972) |
| INVESTING ACTIVITIES: | |||
| Purchases of property, plant, and equipment (including payments to related parties of $12,567, $17,677, and $10,625 in fiscal years 2026, 2025, and 2024, respectively) | (161,999) | (127,214) | (124,279) |
| Investment in equity securities | (51,613) | (56,000) | (69,673) |
| Acquisition, net of cash acquired | — | — | (296) |
| Proceeds from disposal of equity investment | 13,333 | — | — |
| Net cash used in investing activities | (200,279) | (183,214) | (194,248) |
| FINANCING ACTIVITIES: | |||
| Proceeds from lines of credit and term loans | 4,468,808 | 1,387,991 | 2,156,529 |
| Repayment of lines of credit and term loans | (520,510) | (1,768,650) | (1,967,545) |
| Payments of debt issuance costs | (23,483) | — | — |
| Proceeds from exercise of stock options | 46,260 | 20,898 | 29,453 |
| Payment for withholding taxes related to settlement of equity awards | (129,881) | (142,457) | (174,354) |
| Stock repurchases | — | (200,000) | — |
| Issuances of common stock in public offerings, net of issuance costs of $42,575 | — | — | 2,313,983 |
| Years Ended June 30, | |||
|---|---|---|---|
| 2026 | 2025 | 2024 | |
| Debt issuance costs in connection with amended 2029 Convertibles Notes | — | (31,217) | — |
| Proceeds from issuance of 2029 Convertible Notes, net of issuance costs of $29,232 | — | — | 1,695,768 |
| Proceeds from issuance of 2028 Convertible Notes, net of issuance costs of $16,304 | — | 683,696 | — |
| Proceeds from issuance of 2030 Convertible Notes, net of issuance costs of $44,027 | — | 2,255,973 | — |
| Purchase of capped calls | — | (182,215) | (142,140) |
| Common stock issuance, net of underwriting discounts | 1,406,953 | — | — |
| Series A Mandatory Convertible Preferred Stock issuance, net of underwriting discounts | 4,231,640 | — | — |
| Payments of equity issuance costs | (996) | — | — |
| Other | (36) | 26 | 30 |
| Net cash provided by financing activities | 9,478,755 | 2,024,045 | 3,911,724 |
| Effect of exchange rate fluctuations on cash | (9,355) | 1,673 | (2,191) |
| Net increase in cash, cash equivalents, and restricted cash | 2,459,235 | 3,502,028 | 1,229,313 |
| Cash, cash equivalents, and restricted cash at the beginning of year | 5,172,301 | 1,670,273 | 440,960 |
| Cash, cash equivalents, and restricted cash at the end of year | $7,631,536 | $5,172,301 | $1,670,273 |
| Supplemental disclosure of cash flow information: | |||
| Cash paid for interest | $109,306 | $25,490 | $16,015 |
| Cash paid for income taxes, net of refunds | $399,276 | $327,158 | $392,020 |
| Non-cash investing and financing activities: | |||
| Unpaid property, plant, and equipment purchases (including due to related parties of $4,658, $3,879, and $2,339 as of June 30, 2026, 2025, and 2024, respectively) | $21,142 | $16,208 | $19,613 |
| ROU assets obtained in exchange for operating lease commitments | $266,753 | $276,170 | $32,581 |
| Series A Mandatory Convertible Preferred Stock accrued dividends | $13,088 | $— | $— |
| Transfer of inventory to property, plant, and equipment, net | $7,304 | $8,260 | $12,535 |
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