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May 31, 2024
Penguin Solutions Q3 2024 Earnings Report
Reported sequential revenue growth, driving GAAP EPS of $0.10 and Non-GAAP EPS of $0.37.
Key Takeaways
SMART Global Holdings, Inc. reported Q3 fiscal 2024 financial results with net sales of $300.6 million, a GAAP gross margin of 29.6%, and a GAAP EPS of $0.10. Non-GAAP EPS was $0.37, reflecting a 37% increase quarter over quarter.
Net sales reached $300.6 million, up 5.5% versus the prior quarter.
GAAP gross margin was 29.6% compared to 28.8% in the previous quarter.
Non-GAAP gross margin improved to 32.3% from 31.5% in the prior quarter.
GAAP EPS was $0.10, an increase from $(0.26) in the prior quarter.
Penguin Solutions
Penguin Solutions
Penguin Solutions Revenue by Segment
Revenue by Segment
Advanced Computing Revenue
CapyFin.comIntegrated Memory Revenue
CapyFin.comOptimized LED Revenue
CapyFin.com Forward Guidance
SGH provides financial outlook for the fourth quarter of fiscal 2024, with net sales expected to be $325 million +/- $25 million and diluted earnings per share of $0.03 +/- $0.15 (GAAP) or $0.40 +/- $0.15 (Non-GAAP).
Positive Outlook
- Net sales are projected at $325 million +/- $25 million.
- Gross margin is expected to be 29.5% +/- 1.5% (GAAP) and 31.5% +/- 1.5% (Non-GAAP).
- Operating expenses are estimated at $81 million +/- $2 million (GAAP) and $66 million +/- $2 million (Non-GAAP).
- Diluted earnings per share are forecasted at $0.03 +/- $0.15 (GAAP).
- Diluted earnings per share are forecasted at $0.40 +/- $0.15 (Non-GAAP).
Revenue & Expenses
Visualization of income flow from segment revenue to net income