Supermicro ©

2009

GPU Solutions

Universal I/O

Double-Sided

Datacenter

Optimized

Twin Architecture

SuperBlade

®

Storage

3rd Quarter Fiscal 2010

Earnings Conference Presentation

April 27, 2010

Exhibit 99.2

2

Safe Harbor Statement

This presentation contains forward-looking statements within the meaning of Section 27A of the Securities

Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These

forward-looking statements may relate, among other things,

to our expected financial and operating

results, our ability to build and grow Supermicro, the benefit of our products and our ability to achieve our

goals, plans and objectives.

Such forward-looking statements do not constitute guarantees of future performance and are subject to a

variety of risks and uncertainties that could cause our actual results to differ materially from those

anticipated. These include, but are not limited to: our dependence on continued growth in the markets for

X86 based servers, blade servers and embedded applications, increased competition, difficulties of

predicting timing of new product introductions, customer acceptance of new products, difficulties in

establishing and maintaining successful relationships with our distributors and vendors, shortages or price

fluctuations in our supply chain, our ability to protect our intellectual property rights, our ability to control the

rate of expansion domestically and internationally, difficulty managing rapid growth and general political,

economic and market conditions and events.

For a further list and description of risks and uncertainties, see the reports filed by Supermicro with the

Securities and Exchange Commission. Supermicro disclaims any intention or obligation to update or revise

any forward-looking statements, whether as a result of new information, future events or otherwise.

Supplemental information, condensed balance sheets and statements of operations follow. All monetary

amounts are stated in U.S. dollars.

3

Non-GAAP Financial Measures

Non-GAAP gross margin in this presentation excludes stock-based compensation expense. Non-GAAP

net

income

and

net

income

per

share

in

this

presentation

exclude

stock-based

compensation

expense,

a provision for litigation loss and the related tax effect of the applicable items. Management presents non-

GAAP financial measures because it considers them to be important supplemental measures of

performance. Management uses the non-GAAP financial measures for planning purposes, including

analysis

of

the

Company's

performance

against

prior

periods,

the

preparation

of

operating

budgets

and

to determine appropriate levels of operating and capital investments.

Management also believes that non-GAAP financial measures provide additional insight for analysts and

investors in evaluating the Company's financial and operational performance. However, these non-GAAP

financial measures have limitations as an analytical tool, and are not intended to be an alternative to

financial measures prepared in accordance with GAAP.

Pursuant to the requirements of SEC Regulation G, detailed reconciliations between the Company's

GAAP and non-GAAP financial results is provided at the end of the press release that was issued

announcing the Company’s operating and financial results for the quarter ended March 31, 2010.  In

addition, a reconciliation from GAAP to non-GAAP results is contained in the financial summary attached

to today’s presentation and is available in the Investor Relations section of our website at

www.supermicro.com

in the Events and Presentations section. Investors are advised to carefully review

and consider this information as well as the GAAP financial results that are disclosed in the Company's

SEC filings.

4

Q3’FY2010 Non-GAAP Financial Highlights

(in millions, except per share data)

Q3'10

YoY

Sequential

Revenue

$189.3

72.8%

4.0%

Profit after Tax

$8.9

266.4%

-3.2%

EPS

$0.21

250.0%

-4.5%

Change

5

Summary of Results

Even though the third quarter is seasonally softer, we achieved another record quarter for

revenues, up 4.0% sequentially and 72.8% year over year

Our twin and twin 

server lines as well as our storage and GPU business were strong

We

won

more

data

center

business

this

quarter,

which

establishes

our

brand

and

scale

in

this competitive market

This quarter we continued to invest in our near and long term future by adding new employees

for

production

in

Europe

and

Asia

as

well

as

engineers

to

extend

our

product

lines

for

the

Westmere

and Magny

Cours

launches, and for Twin Blades, switches and racks

With the continued recovery in IT spending, we are well positioned for growth with our product

lines, with our geographic expansion in place, and our pipeline of new business opportunities

2

Leading Architecture –

FY10

New Generation Twin

1U Twin / 2U Twin²

with new generation CPU / Chipset

Continue the momentum and leading position

TwinBlade™

(Award-Winning)

20/28 DP nodes in 7U, support 40Gb/s Infiniband

or 10G

Ethernet connectivity

New GPU product lines

Scientific computation, imaging processing and CFD

simulation

New generation GPU –

NVIDIA Fermi & AMD ATI

New generation 1U / 2U / 3U optimized rack mount

product lines (Intel Westmere

& AMD G34, Magne-

cours)

Further optimized for enterprise virtualization applications

Including 18 DIMM, 94% high efficiency redundant power

supply, more I/O capacity, GPU capability, and 100% cooling

redundancy

ATOM based appliance & Embedded solutions

Create territory in the market segments:

Medical, Gaming, Telecom, Military…

industries

New Twin

New GPUs

TwinBlade™

New ATOM server

6

Leading Architecture –

FY10

New generation 4-way / 8-way Systems

Intel new Boxboro-EX MP system in 1U/4U/5U

Addressing HPC application needs as well as enterprise market

Storage product line expansion

Super SBB product line

New generation 1U / 2U / 3U optimized rack mount

product lines (Intel Westmere

& AMD G34, Magne-

cours)

Further optimized for enterprise virtualization applications

Including 18 DIMM, 94% high efficiency redundant power supply,

more I/O capacity, GPU capability, and 100% cooling redundancy

SuperRack™

User friendly cable management / Ease of Cable Identification

Better airflow / Increase uptime / Ease of rear access hot-swapping

Expending switch products offering:

FCoE, QDR IB, 10G…

Boxboro-EX

Super SBB

SuperRack™

Cable & PDU

Management

7

8

Revenue Comparables

$110

$123

$149

$182

$189

$0

$40

$80

$120

$160

$200

$'s millions

Q3'09

Q4'09

Q1'10

Q2'10

Q3'10

Supermicro Revenue Trend

Y/Y

-19.9%

-17.1%

3.1%

41.5%

72.8%

Seq.

-14.8%

12.7%

20.3%

22.5%

4.0%

9

Revenue Analysis

$67

$43

$78

$45

$97

$51

$117

$65

$126

$63

$-

$40

$80

$120

$160

$'s millions

Q3'09

Q4'09

Q1'10

Q2'10

Q3'10

Supermicro Subsystems/System Revenue

Subsystems

Systems

10

Non-GAAP Gross Margins

15.0%

16.7%

16.6%

16.7%

15.5%

Q3'09

Q4'09

Q1'10

Q2'10

Q3'10

11

Non-GAAP Gross Profit

$16.5

$20.6

$24.7

$30.5

$29.4

$-

Q3'09

Q4'09

Q1'10

Q2'10

Q3'10

Gross Profit

$'s millions

12

Summary P&L non-GAAP

(in millions, except per share data)

Q3'10

YoY

Sequential

Q3'09

Q2'10

Operating Expense

$17.3

$2.7

$0.9

$14.6

$16.4

Operating Expense Ratio

9.1%

-4.3%

0.1%

13.4%

9.0%

Operating Income

$12.1

$10.2

-$2.0

$1.8

$14.1

Net Income

$8.9

$6.5

-$0.3

$2.4

$9.2

EPS

$0.21

$0.15

-$0.01

$0.06

$0.22

Diluted Common Share Count

42.5

38.9

40.5

Effective Quarterly

Tax Rate (Benefit)

25.7%

-44.3%

34.1%

13

Q3 FY2010 YTD Summary Statement of Cash Flows

($’s millions)

9 Months Ended

9 Months Ended

31-Mar-10

31-Mar-09

Net Income

19.2

$                    

13.7

$                    

Depreciation and amortization

3.4

$                      

2.6

$                      

Stock comp expense (FAS 123R)

4.8

$                      

4.0

$                      

Other reserves

3.0

$                      

4.3

$                      

Net change in AR, Inventory, AP

(48.6)

$                   

(15.2)

$                   

Other prepaids and liabilities

10.0

$                    

3.9

$                      

Cash flow from operations

(8.2)

$                     

13.4

$                    

Capital expenditures

(2.8)

$                     

(2.8)

$                     

Free cash flow

(11.0)

$                   

10.7

$                    

Net cash  -  other investing activities

10.5

$                    

0.9

$                      

Net cash - financing activities

(3.1)

$                     

(0.3)

$                     

Net change in cash 

(3.6)

$                     

11.2

$                    

14

Q3 FY 2010 Summary of Balance Sheet Metrics

($’s millions)

Q3'10

Q2'10

Change

Cash Equivalents & Investments

73.2

$        

88.9

$   

(15.7)

$ 

Accounts Receivable

63.9

$        

54.9

$   

9.0

$    

Inventory

144.4

$      

134.3

$ 

10.1

$  

Accounts Payable

103.5

$      

112.6

$ 

(9.1)

$   

DSO

29

27

2

DIO

80

71

9

DPO

62

60

2

Cash Cycle Days

47

38

9

15

Supplemental Financials

Third Quarter Fiscal 2010

Ended March 31, 2010

16

Non-GAAP Financial Summary

(in millions, except per share data)

Q3'10

Q2'10

Q3'09

Net Sales

189.3

$     

182.0

$   

109.5

$  

Non-GAAP Gross Margin

15.5%

16.7%

15.0%

Non-GAAP Operating Expenses

17.3

$       

16.4

$      

14.6

$     

Non-GAAP Operating Income

12.1

$       

14.1

$      

1.8

$       

Non-GAAP Net Income

8.9

$         

9.2

$        

2.4

$       

Non-GAAP Net Income per common share

0.21

$       

0.22

$      

0.06

$     

Fully diluted common shares for calculation

42.5

40.5

38.9

17

Prior Period Net Income Comparisons

(in millions, except per share data)

Q3'10

Q2'10

Q3'09

Net Income (GAAP)

7.7

$          

7.6

$        

1.2

$       

FAS123R & Other Unusual Expense (tax affected)

1.2

$          

1.6

$        

1.2

$       

Net Income (Non-GAAP)

8.9

$          

9.2

$        

2.4

$       

Diluted Net Income per common share (GAAP)

0.18

$        

0.19

$      

0.03

$     

FAS123R

0.03

$        

0.03

$      

0.03

$     

Diluted Net Income per common share (Non-GAAP)

0.21

$        

0.22

$      

0.06

$     

Common shares used in diluted EPS calculation

42.5

40.5

38.9

18

Q3 FY 2010 GAAP to Non-GAAP Reconciliation

(in millions, except per share data)

FAS123R &

Q3'10

Q3'10 GAAP

Other Unusual

Non-GAAP

Results

Expenses

Results

Net Sales

189.3

$         

-

$                 

189.3

$         

Cost of Sales

160.0

$         

0.1

$                   

159.9

$         

Gross Profit

29.3

$           

0.1

$                   

29.4

$           

Operating Expense

18.7

$           

1.4

$                   

17.3

$           

Operating Income

10.5

$           

1.5

$                   

12.1

$           

Interest, net

(0.0)

$            

-

$                 

(0.0)

$            

Income Before Tax

10.5

$           

1.5

$                   

12.0

$           

Income Tax

2.8

$              

(0.3)

$                

3.1

$              

Net Income

7.7

$              

1.2

$                   

8.9

$              

Diluted Net Income per common share

0.18

$           

0.03

$               

0.21

$           

Diluted common shares used in GAAP and

Non-GAAP per share calculation

41.7

42.5

42.5

19

Q2 FY 2010 GAAP to Non-GAAP Reconciliation

(in millions, except per share data)

Q2'10 GAAP

Other Unusual

Non-GAAP

Results

Expenses

Results

Net Sales

182.0

$         

-

$                 

182.0

$         

Cost of Sales

151.7

$         

0.2

$                   

151.5

$         

Gross Profit

30.3

$           

0.2

$                   

30.5

$           

Operating Expense

17.9

$           

1.5

$                   

16.4

$           

Operating Income

12.4

$           

1.7

$                   

14.1

$           

Interest, net

(0.1)

$            

-

$                 

(0.1)

$            

Income Before Tax

12.3

$           

1.7

$                   

14.0

$           

Income Tax

4.7

$              

(0.1)

$                

4.8

$              

Net Income

7.6

$              

1.6

$                   

9.2

$              

Diluted Net Income per common share

0.19

$           

0.03

$               

0.22

$           

Diluted common shares used in GAAP and

Non-GAAP per share calculation

39.8

40.5

40.5

20

Q1 FY 2010 GAAP to Non-GAAP Reconciliation

(in millions, except per share data)

FAS123R &

Q1'10

Q1'10 GAAP

Other Unusual

Non-GAAP

Results

Expenses

Results

Net Sales

148.5

$         

-

$                 

148.5

$         

Cost of Sales

124.0

$         

0.1

$                   

123.9

$         

Gross Profit

24.5

$           

0.1

$                   

24.7

$           

Operating Expense

18.0

$           

2.5

$                   

15.6

$           

Operating Income

6.5

$              

2.6

$                   

9.1

$              

Interest, net

(0.1)

$            

-

$                 

(0.1)

$            

Income Before Tax

6.4

$              

2.6

$                   

9.0

$              

Income Tax

2.5

$              

0.7

$                   

3.1

$              

Net Income

3.9

$              

1.9

$                   

5.8

$              

Diluted Net Income per common share

0.10

$           

0.05

$               

0.15

$           

Diluted common shares used in GAAP and

Non-GAAP per share calculation

39.2

40.1

40.1

21

Q4 FY 2009 GAAP to Non-GAAP Reconciliation

(in millions, except per share data)

Q4'09

Q4'09 GAAP

FAS123R

Non-GAAP

Results

Expenses

Results

Net Sales

123.5

$            

-

$                 

123.5

$         

Cost of Sales

103.0

$            

0.2

$                   

102.8

$         

Gross Profit

20.5

$              

0.2

$                   

20.6

$           

Operating Expense

16.7

$              

1.5

$                   

15.2

$           

Operating Income

3.7

$                 

1.7

$                   

5.4

$              

Interest, net

(0.2)

$               

-

$                 

(0.2)

$            

Income Before Tax

3.6

$                 

1.7

$                   

5.2

$              

Income Tax

1.2

$                 

0.3

$                   

1.5

$              

Net Income

2.4

$                 

1.4

$                   

3.8

$              

Diluted Net Income per common share

0.06

$              

0.04

$               

0.10

$           

Diluted common shares used in GAAP and

Non-GAAP per share calculation

38.5

39.5

39.5

22

Q3 FY 2009 GAAP to Non-GAAP Reconciliation

(in millions, except per share data)

Q3'09

Q3'09 GAAP

FAS123R

Non-GAAP

Results

Expenses

Results

Net Sales

109.5

$        

-

$                 

109.5

$        

Cost of Sales

93.2

$          

0.1

$                  

93.1

$          

Gross Profit

16.3

$          

0.1

$                  

16.5

$          

Operating Expense

15.9

$          

1.2

$                  

14.6

$          

Operating Income

0.4

$             

1.3

$                  

1.8

$             

Interest, net

(0.2)

$           

-

$                 

(0.2)

$           

Income Before Tax

0.3

$             

1.3

$                  

1.7

$             

Income Tax

(1.0)

$           

0.2

$                  

(0.7)

$           

Net Income

1.2

$             

1.0

$                  

2.4

$             

Diluted Net Income per common share

0.03

$          

0.03

$              

0.06

$          

Diluted common shares used in GAAP and

Non-GAAP per share calculation

38.1

38.9

38.9