Dilution profile // every instrument, one screen, from SEC filings

Super Micro Computer, Inc. (SMCI)

CIK 1375365 · all EDGAR filings →

Overall dilution risk
HIGHworst of 3 computed signals (offering ability)
= the worst band among the computed sub-ratings, no hidden weighting
not every sub-rating was computable; treat as a floor
Offering ability
HIGHS-3ASR on file 2026-06-09
= is there a registration (S-1/S-3 family) on file without a later withdrawal
no structured fee data on the live registrations, so this is a yes/no, not a size
Overhead supply
NOT COMPUTEDno warrant count tagged in XBRL
= warrant shares outstanding divided by current shares outstanding
absence of a tag is not proof of absence of warrants
Historical dilution
HIGH+1046% O/S in 3y
= share count now vs 3 years ago (bands: 30% / 100%); a reverse split pushes this negative
Cash need
LOWoperating cash flow positive
= cash vs trailing operating burn (bands: 6mo / 24mo; positive operating CF = low)

Same rating bands the category standard uses, but free, with the formula on the chip and the gaps in the data said out loud.

Shares outstanding over time

2020-01-312026-04-30

Latest: 601.4M shares as of Apr 30, 2026 (10-Q).

Cash runway

Self-funding

profitable · generates cash

Full breakdown: cash runway tool

Warrants

No warrant figures tagged in this filer’s XBRL facts. That means the company has not reported them in structured form; it does not prove no warrants exist. The exhibits are the ground truth.

Convertible notes

NotePrincipalCarryingConv. priceRateIf converted
Convertible Senior Notes Due 2030$2.30B$2.26B$55.2~41.7M sh
Convertible Senior Notes Due 2029$1.73B$1.71B$83.440%~20.7M sh
Convertible Senior Notes Due 2028$700.0M$688.9M$61.06~11.5M sh
Convertible Senior Notes Due 2030 Overallotment Option$300.0Mnot tagged

If every note above converted at its tagged price: ~73.8M new shares on 601.4M currently outstanding. An estimate from principal ÷ conversion price, with inputs carrying different as-of dates; make-whole adjustments, capped calls and partial repurchases are not modeled.

Notes exactly as the company dimensioned them in its 10-Q filed May 11, 2026. Principal is face amount as tagged, not what remains after repurchases unless the filer updated the tag. A note the filer did not dimension is absent here, not absent from the balance sheet; the exhibits stay the ground truth.

Fully diluted build-up

Shares outstanding plus every potential-share instrument the filer tagged in XBRL, each at its own as-of date. An estimate assembled from filed figures, not a filing figure itself.

Shares outstanding601.4MApr 30, 2026
+ Convertible Senior Notes Due 2030 (if fully converted)41.7MMar 31, 2026
+ Convertible Senior Notes Due 2029 (if fully converted)20.7MMar 31, 2026
+ Convertible Senior Notes Due 2028 (if fully converted)11.5MMar 31, 2026
Fully diluted estimate675.2M+12.3% vs O/S

Still excluded, because the filer does not tag them in countable form: employee options and RSUs, any instrument living only in exhibit prose, and instruments above missing a share count. Inputs carry different as-of dates, shown per row. Each figure traces to the tranche and note tables above and their cited filings.

Registrations and offerings

S-3ASRJun 9, 2026fee exhibit found but no total offering amount (fees deferred, typical for automatic shelves)filing →
S-3ASRMar 19, 2024no structured fee exhibit in this filing (predates fee-data XBRL or fee deferred)filing →
S-3ASRNov 30, 2023no structured fee exhibit in this filing (predates fee-data XBRL or fee deferred)filing →

Last 12 months: 5 executed · 1 registered.

EXECUTEDJun 12, 2026Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)424B5
EXECUTEDJun 12, 2026Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)424B5
EXECUTEDJun 12, 2026Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)424B5
MARKETINGJun 11, 2026Free-writing prospectus — offering being marketedFWP
EXECUTEDJun 10, 2026Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)424B5
EXECUTEDJun 10, 2026Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)424B5
REGISTEREDJun 9, 2026Automatic shelf registration — effective immediately (large filers)S-3ASR
MARKETINGJun 9, 2026Free-writing prospectus — offering being marketedFWP
EXECUTEDJun 27, 2025Unregistered share sale disclosed (8-K item 3.02)8-K
EXECUTEDFeb 21, 2025Unregistered share sale disclosed (8-K item 3.02)8-K
EXECUTEDMar 20, 2024Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)424B5
REGISTEREDMar 19, 2024Automatic shelf registration — effective immediately (large filers)S-3ASR

Full history and shelf status: offering checker · S-3 shelf checker

Source: SEC EDGAR XBRL company facts and filing metadata, fetched live and cached briefly. Share counts are cover-page figures with their form named. Warrant tranches and convertible notes come from the dimensioned facts in the latest 10-Q/10-K instance document, exactly as the company tagged them; untagged tranches and notes are absent, not disproven. Nothing on this page is manually verified and nothing is behind a login: what free data supports is shown, what it cannot support is stated. Not investment advice.

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