Penguin Solutions, Inc. announced its successful rebranding from SMART Global Holdings, Inc., effective October 15, 2024. The company's ordinary shares are now trading under the new ticker symbol "PENG" on Nasdaq, reflecting a strategic transformation towards AI infrastructure deployment, advanced memory enterprise solutions, and high-performance computing.
For the fourth quarter of fiscal 2024, Penguin Solutions reported total net sales of $311.148 million, marking its third consecutive quarter of sequential top-line growth, up from $300.580 million in Q3 FY24. The company's non-GAAP diluted earnings per share for Q4 FY24 was $0.37, an increase from $0.35 in the prior year's fourth quarter.
Looking ahead to fiscal year 2025, Penguin Solutions provided an outlook anticipating 15% year-over-year net sales growth, with a non-GAAP gross margin of 32% +/- 1%. The company projects non-GAAP diluted earnings per share to be $1.70 +/- $0.20, signaling confidence in its strategic direction and future performance.
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