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Aug 30, 2024
Penguin Solutions Q4 2024 Earnings Report
Announced new company name and reported financial results, with sequential revenue growth across all business segments.
Key Takeaways
Penguin Solutions reported Q4 FY24 revenue of $311 million, a slight decrease of 1.7% year-over-year, but marked by the third consecutive quarter of sequential top-line growth. The company's transition to Penguin Solutions reflects its focus on AI infrastructure and high-performance computing solutions.
Net sales reached $311 million, slightly down 1.7% compared to the previous year.
GAAP gross margin decreased to 28.0%, a 90 basis points decrease year-over-year.
Non-GAAP EPS increased to $0.37, compared to $0.35 in the year-ago quarter.
The company successfully completed its name change from SMART Global Holdings, Inc. to Penguin Solutions, Inc.
Revenue by Segment
Forward Guidance
Penguin Solutions provided financial outlook for fiscal year 2025, expecting 15% YoY growth +/- 5% for net sales and 30% +/- 1% for gross margin. Diluted earnings per share are projected at $0.30 +/- $0.20 on a GAAP basis and $1.70 +/- $0.20 on a non-GAAP basis.
Positive Outlook
- Net sales: 15% YoY Growth +/- 5%
- Gross margin: 30% +/- 1%
- Operating expenses: $335 million +/- $15 million
- Diluted earnings per share: $0.30 +/- $0.20
- Diluted shares: 56.3 million
Challenges Ahead
- Operating expenses: $335 million +/- $15 million
- Diluted earnings per share: $0.30 +/- $0.20
- Long-term non-GAAP effective tax rate may be subject to change
- The timing and amounts of discrete items, which could significantly impact GAAP effective tax rate, are unpredictable
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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