07:10 AM EST, 11/13/2024 (MT Newswires) -- Super Micro Computer ( SMCI ) said Wednesday that it cannot file its quarterly report for the period ending Sept. 30 on time due to the need for more time to complete financial statements and disclosures.

The company previously stated that a committee was formed to review internal controls after concerns were raised, followed by the resignation of its independent accounting firm. Although the review has been completed, further work is needed to finalize it, select a new firm, and assess internal controls for the year ending June 30, Super Micro Computer ( SMCI ) said.

The company added that the new accounting firm will audit the financial statements for the 2024 Form 10-K, and the Q1 2025 Form 10-Q cannot be filed until the 2024 Form 10-K is completed. Additional time is also required for the new firm to review the interim financial statements for Q1 2025.

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