Super Micro Computer discloses Nasdaq non-compliance letter

Super Micro Computer (NASDAQ:SMCI) on Wednesday said it has received a notification letter from Nasdaq, stating that the company is not in compliance with listing rules, which requires timely filing of reports with the U.S. Securities and Exchange Commission.

Super Micro, on Monday, announced that it has submitted a compliance plan to Nasdaq.

Super Micro added that in its compliance plan, the company indicated that it believes it will be able to complete its annual report on Form 10-K for the year ended June 30, 2024, and its quarterly report on 10-Q for the fiscal quarter ended September 30, 2024.

The letter has no immediate effect on the listing or trading of the company’s common stock on the Nasdaq Global Select Market.

Shares of the company were trading 1.6% lower in extended trading on Wednesday.

Earlier on Monday, the company also said it has engaged accounting firm BDO USA as its auditor.