Super Micro Computer, Inc. (NASDAQ:SMCI) stock is trading lower Wednesday after it announced that it could not file its fiscal first-quarter 2025 Form 10-Q for the September 30, 2024 quarter due to excessive effort and cost.

The server maker disclosed it will be late with its quarterly filing in addition to its past annual one. Super Micro also said it needs additional time to find a new auditor.

Super Micro Computer stock (NASDAQ: SMCI) fell by about 6% in Tuesday’s trading and remains down 54% over the past month amid significant corporate governance concerns and questions about the company’s financial reporting.