Penguin Solutions Inc
NASDAQ:PENG
Penguin Solutions Inc
SMART Global Holdings, Inc. engages in the design and manufacture of enterprise solutions for the computing, memory, and LED markets. The company is headquartered in Newark California, California and currently employs 2,700 full-time employees. The company went IPO on 2017-05-24. The Company’s solutions include artificial intelligence (AI), high performance computing (HPC), Cloud, Embedded Computing, and Data. Its AI solutions include Penguin Solutions OriginAI, and Generative AI. Its HPC solutions include InsightHPC, AccessHPC, and TrueHPC. Its Cloud solutions include Scyld Cloud Central, POD, and Cloudbase. Its Embedded Computing solutions include Military. Its Data solutions include LiveData, ActiveData, DeepData, and DataNexus. The Company’s services include professional services, managed services, data center services, design services, and project management services. Its portfolio spans compute and application servers, storage and high-speed interconnects for HPC and hyperscale data centers. Its core products in these areas are, such as servers, storage and switches.
SMART Global Holdings, Inc. engages in the design and manufacture of enterprise solutions for the computing, memory, and LED markets. The company is headquartered in Newark California, California and currently employs 2,700 full-time employees. The company went IPO on 2017-05-24. The Company’s solutions include artificial intelligence (AI), high performance computing (HPC), Cloud, Embedded Computing, and Data. Its AI solutions include Penguin Solutions OriginAI, and Generative AI. Its HPC solutions include InsightHPC, AccessHPC, and TrueHPC. Its Cloud solutions include Scyld Cloud Central, POD, and Cloudbase. Its Embedded Computing solutions include Military. Its Data solutions include LiveData, ActiveData, DeepData, and DataNexus. The Company’s services include professional services, managed services, data center services, design services, and project management services. Its portfolio spans compute and application servers, storage and high-speed interconnects for HPC and hyperscale data centers. Its core products in these areas are, such as servers, storage and switches.
Revenue: Penguin Solutions reported Q1 revenue of $343 million, up 2% sequentially and 1% year-over-year, even without hyperscale hardware sales.
Margins: Non-GAAP gross margin was 30%, slightly below last year but above the full-year outlook midpoint; operating margin expanded for the sixth straight quarter.
Segment Trends: Advanced Computing revenue grew 9% sequentially but was down YoY due to the end of hyperscale and Penguin Edge sales; Integrated Memory revenue jumped 41% YoY, while LED revenue fell 18% sequentially.
Outlook Maintained: The company maintained its FY26 guidance, expecting 6% net sales growth and $2 in non-GAAP diluted EPS, with a stronger second half driven by AI pipeline opportunities.
Guidance Changes: Memory segment growth guidance increased to 20–35% YoY; LED sales now expected to decline 5–15%; Advanced Computing outlook remains wide (minus 15% to plus 15%).
Customer Diversification: Management highlighted progress in winning new customers, especially in enterprise and sovereign cloud markets, though timing of deployments introduces some uncertainty.
Cash Flow & Balance Sheet: Operating cash flow more than doubled YoY to $31 million; cash and short-term investments rose to $461 million.
