Super Micro Computer Inc ( SMCI ) shares are trading lower Tuesday ahead of earnings after the bell. Here’s what you need to know ahead of the report.

What To Know: Super Micro is due to report fiscal second-quarter financial results after the market close on Tuesday. Analysts are looking for earnings of 75 cents per share and revenue of $6.13 billion, according to estimates from Benzinga Pro.

Super Micro shares have rallied leading up to the report, having gained approximately 40% over the past five trading sessions at the time of writing.

Strong revenue growth driven by the company’s positioning in the AI space has helped push shares higher in recent years, but the reported numbers face skepticism from bears who await an update on the company’s delayed filings.

In July, Super Micro’s auditor Ernst & Young communicated concerns about several matters related to governance, transparency and completeness of communications, and warned that timely filing of the company's annual report was at significant risk.

The independent auditor resigned in October over governance and transparency concerns and Super Micro launched an independent Special Committee review.

The company said in December that the special committee's investigation found no evidence of fraud or misconduct on the part of management or the company's board. Super Micro adopted all of the special committee recommendations and announced that it would be able to file its annual report for the fiscal year ended June, 30 within the discretionary period granted by the Nasdaq. Super Micro has until Feb. 25 to file its report.

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Loop Capital’s Ananda Baruah is positive on Super Micro heading into earnings. The analyst believes the company stands to benefit from tightening internal controls related to the delayed filings.

On the other hand, Wedbush’s Matt Bryson is cautious ahead of the report, citing “substantial unknowns” that could impact the company’s results. The analysts maintained a Neutral rating on shares until there is more clarity around the delayed filings.

SMCI Price Action: Super Micro shares were down 3.81% at $41.03 at the time of publication Tuesday, according to Benzinga Pro.

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