• Education
    • Higher Education
    • Scholarships & Grants
    • Online Learning
    • School Reforms
    • Research & Innovation
  • Lifestyle
    • Travel
    • Food & Drink
    • Fashion & Beauty
    • Home & Living
    • Relationships & Family
  • Technology & Startups
    • Software & Apps
    • Startup Success Stories
    • Startups & Innovations
    • Tech Regulations
    • Venture Capital
    • Artificial Intelligence
    • Cybersecurity
    • Emerging Technologies
    • Gadgets & Devices
    • Industry Analysis
  • About us
  • Contact
  • Advertise with Us
  • Privacy & Policy
Today Headline
  • Home
  • World News
    • Us & Canada
    • Europe
    • Asia
    • Africa
    • Middle East
  • Politics
    • Elections
    • Political Parties
    • Government Policies
    • International Relations
    • Legislative News
  • Business & Finance
    • Market Trends
    • Stock Market
    • Entrepreneurship
    • Corporate News
    • Economic Policies
  • Science & Environment
    • Space Exploration
    • Climate Change
    • Wildlife & Conservation
    • Environmental Policies
    • Medical Research
  • Health
    • Public Health
    • Mental Health
    • Medical Breakthroughs
    • Fitness & Nutrition
    • Pandemic Updates
  • Sports
    • Football
    • Basketball
    • Tennis
    • Olympics
    • Motorsport
  • Entertainment
    • Movies
    • Music
    • TV & Streaming
    • Celebrity News
    • Awards & Festivals
  • Crime & Justice
    • Court Cases
    • Cybercrime
    • Policing
    • Criminal Investigations
    • Legal Reforms
No Result
View All Result
  • Home
  • World News
    • Us & Canada
    • Europe
    • Asia
    • Africa
    • Middle East
  • Politics
    • Elections
    • Political Parties
    • Government Policies
    • International Relations
    • Legislative News
  • Business & Finance
    • Market Trends
    • Stock Market
    • Entrepreneurship
    • Corporate News
    • Economic Policies
  • Science & Environment
    • Space Exploration
    • Climate Change
    • Wildlife & Conservation
    • Environmental Policies
    • Medical Research
  • Health
    • Public Health
    • Mental Health
    • Medical Breakthroughs
    • Fitness & Nutrition
    • Pandemic Updates
  • Sports
    • Football
    • Basketball
    • Tennis
    • Olympics
    • Motorsport
  • Entertainment
    • Movies
    • Music
    • TV & Streaming
    • Celebrity News
    • Awards & Festivals
  • Crime & Justice
    • Court Cases
    • Cybercrime
    • Policing
    • Criminal Investigations
    • Legal Reforms
No Result
View All Result
Today Headline
No Result
View All Result
Home Business & Finance

Super Micro just hired a new auditor that might save it from getting the boot from Nasdaq

November 19, 2024
in Business & Finance
Reading Time: 2 mins read
A A
0
Super Micro just hired a new auditor that might save it from getting the boot from Nasdaq
2
SHARES
4
VIEWS
Share on FacebookShare on Twitter


Super Micro Computer hired a new auditor Monday after its previous one, Ernst & Young, quit in the middle of an engagement. 

The Silicon Valley-based company, which touts a close relationship with AI stock-rocket Nvidia, had risked being delisted from the Nasdaq after failing to file both an annual and quarterly report on time. Its previous grace period with the exchange would have run out next week. 

But after hiring BDO, Super Micro submitted a plan to Nasdaq to comply with exchange-listing rules and issue audited financials. 

A spokesperson from Super Micro told Fortune in a statement: “As we previously disclosed, Supermicro intends to take all necessary steps to achieve compliance with the Nasdaq continued listing requirements as soon as possible.â€

In a statement, Super Micro CEO Charles Liang welcomed its new auditor, BDO USA, on Monday. “BDO is a highly respected accounting firm with global capabilities,†said Liang. “This is an important next step to bring our financial statements current, an effort we are pursuing with both diligence and urgency.â€

That comes after a blistering resignation letter from its former auditor last month.

EY wrote that it was no longer able to rely on management and the boardâ€s audit committee, which is supposed to be made up of independent directors who oversee the company for the benefit of shareholders.

This isnâ€t Super Microâ€s first rodeo. The company was delisted in 2018 before rejoining the tech-heavy Nasdaq stock exchange in 2020, where it soared 3,000% and eventually joined the Fortune 500.

Before it paused on issuing audited financial statements, its previous annual report showed gross profit margins had risen to 18% in fiscal 2023, compared to 15.4% in fiscal 2022, but it faced significant challenges. The value of its inventory was $1.45 billion in 2023, and it had to increase its inventory reserves by $36.6 million. In a bleeding-edge competitive industry, the risk that some of its inventory will be obsolete looms large. 

BDO and Nasdaq did not immediately respond to a request for comment. An Nvidia spokesperson told Fortune the company is in a quiet period ahead of earnings and declined to comment. 

How many degrees of separation are you from the globe’s most powerful business leaders? Explore who made our brand-new list of the 100 Most Powerful People in Business. Plus, learn about the metrics we used to make it.

Tags: A.I.accountingauditchief executive officer (CEO)corporate boards of directorsCorporate Governancefinancial regulationfinancialsFoundershardwareNASDAQNvidiaSecurities and Exchange CommissionServersSilicon Valley
Previous Post

Trump confirms deportation strategy will include national emergency declaration and military

Next Post

Chocolate makers stoke boom for Indian cocoa beans

Related Posts

Ultra wealthy Gen Zers are redistributing the millions of dollars they’ve inherited—Meet the money coaches helping them

Ultra wealthy Gen Zers are redistributing the millions of dollars they’ve inherited—Meet the money coaches helping them todayheadline

May 10, 2025
4

Should markets fear a surge in U.S. student loan default rates? todayheadline

May 10, 2025
3
Next Post
Chocolate makers stoke boom for Indian cocoa beans

Chocolate makers stoke boom for Indian cocoa beans

  • Trending
  • Comments
  • Latest
Family calls for change after B.C. nurse dies by suicide after attacks on the job

Family calls for change after B.C. nurse dies by suicide after attacks on the job

April 2, 2025
Pioneering 3D printing project shares successes

Product reduces TPH levels to non-hazardous status

November 27, 2024

Hospital Mergers Fail to Deliver Better Care or Lower Costs, Study Finds todayheadline

December 31, 2024

Police ID man who died after Corso Italia fight

December 23, 2024
Harris tells supporters 'never give up' and urges peaceful transfer of power

Harris tells supporters ‘never give up’ and urges peaceful transfer of power

0
Des Moines Man Accused Of Shooting Ex-Girlfriend's Mother

Des Moines Man Accused Of Shooting Ex-Girlfriend’s Mother

0

Trump ‘looks forward’ to White House meeting with Biden

0
Catholic voters were critical to Donald Trump’s blowout victory: ‘Harris snubbed us’

Catholic voters were critical to Donald Trump’s blowout victory: ‘Harris snubbed us’

0

Journalists Zero In on Potential Medicaid Cuts and Social Security Hiccups

May 10, 2025
Soviet Kosmos 482 spacecraft crashes into an unknown site on Earth

Soviet Kosmos 482 spacecraft crashes into an unknown site on Earth

May 10, 2025
States support parents in legal case over school’s secret gender transition of child

States support parents in legal case over school’s secret gender transition of child

May 10, 2025
Hardening lines signal Ukraine peace process collapse

Hardening lines signal Ukraine peace process collapse

May 10, 2025

Recent News

Journalists Zero In on Potential Medicaid Cuts and Social Security Hiccups

May 10, 2025
6
Soviet Kosmos 482 spacecraft crashes into an unknown site on Earth

Soviet Kosmos 482 spacecraft crashes into an unknown site on Earth

May 10, 2025
7
States support parents in legal case over school’s secret gender transition of child

States support parents in legal case over school’s secret gender transition of child

May 10, 2025
5
Hardening lines signal Ukraine peace process collapse

Hardening lines signal Ukraine peace process collapse

May 10, 2025
5

TodayHeadline is a dynamic news website dedicated to delivering up-to-date and comprehensive news coverage from around the globe.

Follow Us

Browse by Category

  • Africa
  • Asia
  • Basketball
  • Business & Finance
  • Climate Change
  • Crime & Justice
  • Economic Policies
  • Elections
  • Entertainment
  • Entrepreneurship
  • Environmental Policies
  • Europe
  • Football
  • Gadgets & Devices
  • Health
  • Medical Research
  • Mental Health
  • Middle East
  • Motorsport
  • Olympics
  • Politics
  • Public Health
  • Relationships & Family
  • Science & Environment
  • Software & Apps
  • Space Exploration
  • Sports
  • Stock Market
  • Technology & Startups
  • Tennis
  • Travel
  • Uncategorized
  • Us & Canada
  • Wildlife & Conservation
  • World News

Recent News

Journalists Zero In on Potential Medicaid Cuts and Social Security Hiccups

May 10, 2025
Soviet Kosmos 482 spacecraft crashes into an unknown site on Earth

Soviet Kosmos 482 spacecraft crashes into an unknown site on Earth

May 10, 2025
  • Education
  • Lifestyle
  • Technology & Startups
  • About us
  • Contact
  • Advertise with Us
  • Privacy & Policy

© 2024 Todayheadline.co

Welcome Back!

OR

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Business & Finance
  • Corporate News
  • Economic Policies
  • Entrepreneurship
  • Market Trends
  • Crime & Justice
  • Court Cases
  • Criminal Investigations
  • Cybercrime
  • Legal Reforms
  • Policing
  • Education
  • Higher Education
  • Online Learning
  • Entertainment
  • Awards & Festivals
  • Celebrity News
  • Movies
  • Music
  • Health
  • Fitness & Nutrition
  • Medical Breakthroughs
  • Mental Health
  • Pandemic Updates
  • Lifestyle
  • Fashion & Beauty
  • Food & Drink
  • Home & Living
  • Politics
  • Elections
  • Government Policies
  • International Relations
  • Legislative News
  • Political Parties
  • Africa
  • Asia
  • Europe
  • Middle East
  • Artificial Intelligence
  • Cybersecurity
  • Emerging Technologies
  • Gadgets & Devices
  • Industry Analysis
  • Basketball
  • Football
  • Motorsport
  • Olympics
  • Climate Change
  • Environmental Policies
  • Medical Research
  • Science & Environment
  • Space Exploration
  • Wildlife & Conservation
  • Sports
  • Tennis
  • Technology & Startups
  • Software & Apps
  • Startup Success Stories
  • Startups & Innovations
  • Tech Regulations
  • Venture Capital
  • Uncategorized
  • World News
  • Us & Canada
  • Public Health
  • Relationships & Family
  • Travel
  • Research & Innovation
  • Scholarships & Grants
  • School Reforms
  • Stock Market
  • TV & Streaming
  • Advertise with Us
  • Privacy & Policy
  • About us
  • Contact

© 2024 Todayheadline.co