TT

a shitty golfer

[TT @NoLimitSports97]

@CataPaul2 They took the oldest team in football from the STL….then gave them the Rams 8 years later. Unreal.

[TT @NoLimitSports97]

The 8-K and earnings release for Super Micro Computer ($SMCI) Q2 FY2026 (ended Dec 31, 2025) is legitimately strong on the top line and forward outlook—far from the disaster some perma-bears want to paint. Revenue exploded to $12.7B (+123% YoY, +153% QoQ), crushing the ~$10.4B consensus and even the company's own $10-11B guidance. Non-GAAP EPS hit $0.69 (vs ~$0.49 est), net income rose to $401M (up from $168M prior quarter), and guidance was raised aggressively: Q3 at least $12.3B revenue / $0.60 non-GAAP EPS (both well above street), FY2026 at least $40B revenue (up from prior $36B floor, beating ~$36.3B consensus). Management highlighted massive AI rack-scale shipments (NVIDIA GB300/HGX B300, AMD MI350, etc.), expanding production capacity (targeting 6k racks/month by year-end), and strong order momentum.

This is explosive execution in the AI infrastructure boom—revenue nearly doubled QoQ after Q1's shipment timing issues, and the raised full-year guide signals confidence the demand wave is real and accelerating. The market reacted positively in after-hours (stock up ~2-7% in various reports), reflecting a clear beat-and-raise.

Lets directly address the bear case from this Daryl….sorry I am Dario. It's not "fabricated" revenue via some shady vendor financing scheme; it's classic hyper-growth working capital dynamics in a supply-constrained AI server ramp.

Accounts receivable ~$11B (up massively from $2.2B at June 2025)**: Yes, +~400% in 6 months, but this ties directly to the revenue surge—$12.7B in Q2 alone means big invoices to hyperscalers/large customers. Management noted one major data center customer ~63% of Q2 revenue (concentration risk, sure), and delays in customer readiness pushed some Q1 shipments here. High AR is common when sales explode and payment terms extend 60-90+ days with big buyers—it's not "pass-through vendor financing on steroids"; it's scaling to meet demand. They even set up AR factoring and new credit facilities ($2B US + $1.8B Taiwan) to handle it without liquidity crunch.

Inventories ~$10.6B (up ~126% from June, but bear said 228%—close enough). Again, deliberate build for Q3/Q4 shipments. CEO call/transcript emphasized prepping for continued strength—AI racks require long-lead components/GPUs, and shortages/tariffs/freight costs hit margins. This isn't overstocking from weak demand; it's front-loading to capture the next wave.

Accounts payable ~$13.75B (huge jump):Mirrors the inventory/AR balloon—SMCI is stretching supplier terms to fund the ramp, a standard move in high-growth hardware. Net effect: operating cash flow was negative ($24M used in Q2), but that's expected in explosive scaling phases (similar to early Tesla/others). Cash still solid at $4.1B, total debt ~$4.9B (mostly convertibles), and they added billions in facilities.

Gross margin 6.3% (down from 11.8% YoY, 9.3% prior quarter): Real pressure here-management attributed it to customer/product mix (pricing leverage from hyperscalers), expedite/freight costs, component shortages, and tariffs. Non-GAAP 6.4%. They expect only modest sequential improvement short-term, which is why bears latch on. But this is the trade-off for capturing massive share in a supply-tight market—volume growth is prioritizing over near-term margins, and higher mix of rack-scale/DLC solutions should help longer-term.

Bottom line: These aren't "red flags" exposing fraud or dying demand—they're the mechanics of a company going from $5-6B quarterly run-rate to $12B+ in months amid AI capex boom. If anything, this shows SMCI is executing where skeptics expected failure.

Perma-bears gonna perma-bear—always find a way to spin record revenue/guidance as bad news. But objectively, this report validates the AI infrastructure thesis and positions SMCI as a key beneficiary. If margins stabilize even modestly and shipments continue, the upside is huge. 🚀

[TT @NoLimitSports97]

@ramahluwalia $EUL

[TT @NoLimitSports97]

@GivnerAriel It’s Gemini

[TT @NoLimitSports97]

So you only want to work or think you should work for 20yrs? Age 22 to 42? Run it to 30 years. Those are the most important 10 yrs. Age 22 to 52. Age 52 to retire is crazy …but ok. Then run 40 yrs. Age 22 to 62 which is realistic and logical based on your life expectancy at your age now

[TT @NoLimitSports97]

@barstoolsports Bedard went out of his way (after practicing 45 min longer than his team and opposite direction of locker room) to give my 9yr old a puck and sign his jersey…and this was last year when he was struggling. Great kid! I would love to say something bad about him as a blues fan too.

[TT @NoLimitSports97]

@ankurnagpal Vanguard does investment management….not wealth management. You got this man

[TT @NoLimitSports97]

@RiggsBarstool Denial!! Horrible showing for the American players….even worse showing for the American fans….your people

[TT @NoLimitSports97]

@FrankieBorrelli Denial. You are the problem! These are your fans not golf fans. I will give you credit….you suck at golf and you somehow get people to watch you. Impressive

[TT @NoLimitSports97]

@KobeissiLetter $smci

[TT @NoLimitSports97]

@Tiffany_Gomas Where are you going in Amsterdam? I really liked the Heineken brewery tour

[TT @NoLimitSports97]

@ben_johnson47 @DaneMooreNBA Is this Jackie Styles?

[TT @NoLimitSports97]

@tyler Douche bag! People only ask you to vote or bet on the other guy

[TT @NoLimitSports97]

@JustinThomas34 @usopengolf Can I please be the 5 handicap?? I would beat Fat Perez

[TT @NoLimitSports97]

@MyGolfSpy Fat Perez vs Fat Rory

[TT @NoLimitSports97]

@Mike_kim714 Can we play banker together soon? All four of us?? They call me the Fat Rory

[TT @NoLimitSports97]

@cameron You are a douche. How you have followers is beyond me! You’re a bad person and a bad musician. Scammer!!

[TT @NoLimitSports97]

@SportsCenter Blues!!

[TT @NoLimitSports97]

@KobeissiLetter Please provide source

[TT @NoLimitSports97]

@ben_johnson47 @PhilMackey Benny loves his Legit