Super Micro Computer announced on Tuesday that it has appointed BDO USA as its new auditor, a crucial step in addressing its delayed financial filings. The company also confirmed the submission of a comprehensive plan to Nasdaq, seeking an extension to regain compliance with listing rules. This move is aimed at averting a potential delisting from the exchange.
The appointment of BDO USA follows the departure of its previous auditor, Ernst & Young, and is seen as a significant effort to bring its financial statements current. Super Micro stated its belief that it will be able to file its annual report for the year ended June 30, 2024, and its quarterly report for the period ended September 30, 2024. The Nasdaq will review this compliance plan, with the company's listing status pending approval.
CEO Charles Liang emphasized the company's diligence and urgency in making its financial statements current, highlighting the importance of this step for corporate stability. This development provides a clearer path forward for Super Micro to resolve its regulatory overhangs and restore investor confidence. The market is responding positively to these concrete actions.
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