Core Viewpoint - SMART Global Holdings is positioned for record-high share prices due to its repositioning efforts, despite mixed Q3 results. The company is benefiting from the growing AI industry, which requires high-quality memory and LED components [1][2]. Financial Performance - Q3 revenue decreased by 12.7% year-over-year, missing consensus estimates, primarily due to the exit from Brazilian operations. However, sequential growth was observed for the second consecutive quarter across all segments, with Memory Solutions leading at a 10% increase [2]. - The company improved its gross and operating margins, with an 80 basis points increase on both GAAP and adjusted bases, resulting in GAAP EPS of $0.10 and adjusted EPS of $0.37 [3]. - Q4 revenue guidance is projected between $325 million, indicating both sequential and year-over-year growth, with expectations for margin expansion [4]. Balance Sheet Strength - The company reported a cash-flow-positive quarter, increasing its cash reserves by approximately 25% while reducing debt by over 10%. Leverage stands at 1.5x equity and cash, with equity nearly doubling [5]. Analyst Sentiment - Analysts maintain a bullish outlook on SMART Global, with a consensus price target of $30, reflecting a 16.1% upside potential. One analyst raised the target by $3 following Q3 results [6]. - Institutional investors own nearly 98% of the stock, which may create challenges for short-sellers, as short interest is around 10% [7]. Market Dynamics - The stock has shown strong premarket gains, potentially reaching new highs, although resistance may occur at $27.50, which aligns with previous resistance levels [8].

Financial Data and Key Metrics - Total Q3 revenues were $301 million, in line with the midpoint of guidance [19][35] - Non-GAAP gross margin was 32.3%, up from 31.6% YoY and 31.5% sequentially, driven by improved mix within IPS and higher service revenue [20][35] - Non-GAAP diluted EPS was $0.37, above the midpoint of guidance [19][35] - Cash and short-term investments totaled $468 million at the end of Q3 [35] - Inventory turns improved to 8.4x in Q3 from 6.8x in Q2, primarily due to timing of receipts and shipments [21] Business Line Performance Intelligent Platform Solutions (IPS) - IPS revenue was $145 million, representing 48% of total revenue [43] - Achieved multi-million dollar non-hardware win, providing only software and managed services [79] - Secured follow-on orders from hyperscaler, defense, and education verticals [79] - Biggest wins to-date with ztC Edge and ztC Endurance fault-tolerant computing platforms [79] Memory Solutions - Memory revenue was $92 million, representing 30% of total revenue [16][43] - Received first 8 DIMM CXL Add-In Card production sale to an AI compute vendor [17] - Introduced E3.S non-volatile CXL design combining DRAM and NAND devices [17] LED Solutions - LED revenue grew 6% sequentially to $64 million, representing 21% of total revenue [40][43] - Backlog and channel visibility are improving [40] - Cree LED's advanced R&D capabilities and robust IP portfolio set the stage for sustained innovation [41] Market Data and Key Metrics - Memory pricing has started to recover, with inventory normalizing at largest customers heading into Q4 [4] - The broader LED market environment suggests consolidation is likely in the sector at some point [41] Company Strategy and Industry Competition - The company is uniquely positioned to enable companies across the technology ecosystem in AI design, build, deploy, and management [12] - 25 years of deep experience in high-performance computing (HPC) differentiates the company as a partner that can rapidly and reliably deploy advanced systems [13] - The company is committed to delivering exceptional value to customers and stakeholders as it continues to innovate and strengthen its position in AI and HPC [27] Management Commentary on Operating Environment and Future Outlook - The company expects Q4 revenues to be approximately $325 million at the midpoint, with IPS revenues up in the low double-digits sequentially [47] - Memory revenues are expected to be up slightly in the low-single digits sequentially, while LED revenues are expected to be up slightly in the low-single digit range [81] - The company is navigating a challenging environment with global macroeconomic headwinds and ongoing supply chain constraints, especially in the IPS business [26] Other Important Information - The company retired $75 million of its term loan in Q3, bringing down the principal amount by $112 million since Q1 to $425 million [23] - The company has $77.7 million available for future share repurchases under its authorizations [22] - The company will hold its Investor Day on July 16 in New York City at the NASDAQ MarketSite [6] Q&A Session Question: How is IPS' go-to-market strategy changing? - The company has brought on new sales leadership over the last 6-12 months and hired Dave Osborne as SVP of Partnership and Alliances to expand reach and capabilities [29][65] - The company is seeing success in oil and gas and financial institutions, with a broader set of markets attracted to its reliable solutions [58] Question: Can you speak more about the largest wins for ztC Edge and Endurance? - The primary markets adopting these systems are oil and gas and financial institutions, with implementation time frames varying based on customer needs [58] Question: What was Stratus' contribution in the quarter? - The company does not break out brands like Stratus on a go-forward basis, but any product sold at the Edge and back in the data center on-prem environment includes software and services along with the hardware platform [82] Question: Can you give us an idea of the puts and takes of the margin pressure you're seeing? - The margin pressure is primarily due to a mix issue, with more hardware shipped in the quarter than software services [69][70] Question: What are you seeing near term and further out in the memory business? - The enterprise Memory Solutions business is less volatile than the high-volume consumer business in memory, with demand forecasts for Q4 and beyond looking strong [71]

The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. Ahead of this earnings release, the estimate revisions trend for SMART Global: mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended May 31, 2024 SMART GLOBAL HOLDINGS, INC. OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-38102 (Exact name of registrant as specified in its charter) Cayman Islands 98-1013909 (State or other jurisdicti ...

Financial Performance - Total net sales for Q3 FY24 were $300.6 million, representing a 5.5% increase compared to the prior quarter[5]. - GAAP gross margin improved to 29.6% from 28.8% in the previous quarter, while non-GAAP gross margin increased to 32.3% from 31.5%[5]. - GAAP EPS for Q3 FY24 was $0.10, a significant recovery from $(0.26) in the prior quarter, while non-GAAP EPS rose 37% to $0.37 from $0.27[5]. - Total net sales for the three months ended May 31, 2024, were $300.58 million, a decrease of 12.7% compared to $344.42 million for the same period in 2023[18]. - Gross profit for the three months ended May 31, 2024, was $88.91 million, resulting in a gross margin of 29.6%, compared to 29.2% in the same period last year[19]. - Operating income for the three months ended May 31, 2024, was $11.51 million, a significant improvement from an operating loss of $2.39 million in the same period of 2023[18]. - Net income attributable to SMART Global Holdings for the three months ended May 31, 2024, was $5.62 million, compared to a net loss of $24.46 million in the same period last year[18]. - Non-GAAP gross profit for the three months ended May 31, 2024, was $96.96 million, with a non-GAAP gross margin of 32.3%[19]. - The company reported a basic earnings per share of $0.11 for the three months ended May 31, 2024, compared to a loss of $0.50 per share in the same period of 2023[18]. - GAAP net income for the three months ended May 31, 2024, was $5.616 million, a significant improvement from a loss of $13.620 million in the previous quarter[20]. - Non-GAAP net income for the nine months ended May 31, 2024, was $46.900 million, compared to $109.275 million for the same period in 2023, reflecting a decrease of approximately 57%[20]. Future Projections - The company expects Q4 FY24 net sales to be approximately $325 million, with a variance of +/- $25 million[6]. - Projected gross margin for Q4 FY24 is 29.5% +/- 1.5% for GAAP and 31.5% +/- 1.5% for non-GAAP[6]. - Operating expenses for Q4 FY24 are anticipated to be around $81 million +/- $2 million for GAAP and $66 million +/- $2 million for non-GAAP[6]. - Diluted EPS guidance for Q4 FY24 is $0.03 +/- $0.15 for GAAP and $0.40 +/- $0.15 for non-GAAP[6]. - The company expects continued focus on market expansion and new product development to drive future growth[19]. Company Strategy - The company is focused on transforming into a high-performance enterprise solutions provider, particularly in AI deployment[2]. - The company is committed to strategic investments in new products and technologies to enhance its market position[10]. Segment Performance - Memory Solutions segment reported net sales of $91.6 million, while Intelligent Platform Solutions generated $145.0 million in sales for Q3 FY24[3]. Balance Sheet Highlights - Total assets as of May 31, 2024, increased to $1.546 billion from $1.506 billion as of August 25, 2023, representing a growth of about 2.6%[21]. - Cash and cash equivalents rose to $453.791 million, up from $365.563 million, indicating an increase of approximately 24%[21]. - Total liabilities decreased to $1.116 billion from $1.277 billion, showing a reduction of about 12.6%[21]. - Total SGH shareholders' equity increased to $423.449 million from $222.475 million, representing a substantial growth of approximately 90.4%[21]. Cash Flow and Expenses - The company generated $79,881,000 in net cash from operating activities from continuing operations for the three months ended May 31, 2024, compared to a cash outflow of $21,917,000 in the previous quarter[22]. - SMART Global Holdings incurred capital expenditures of $3,777,000 for the three months ended May 31, 2024, down from $5,204,000 in the previous quarter[23]. - The company repaid $75,000,000 in debt during the three months ended May 31, 2024, compared to $37,211,000 in the previous quarter[23]. - The net cash used for financing activities from continuing operations was $73,313,000 for the three months ended May 31, 2024, compared to $60,152,000 in the previous quarter[23]. - The company reported a depreciation expense of $15,525,000 for the three months ended May 31, 2024, compared to $17,156,000 in the previous quarter[22]. - The company reported a net cash provided by investing activities of $5,071,000 for the three months ended May 31, 2024, compared to a cash outflow of $4,506,000 in the previous quarter[23].

Financial Data and Key Metrics Changes - Total revenues for Q2 2024 were $285 million, aligning with the midpoint of guidance, with non-GAAP gross margin at 31.5%, down from 32.1% year-over-year and 33.3% sequentially [7][32][62] - Non-GAAP diluted earnings per share were $0.27, an increase from $0.24 in the previous quarter but down from $0.87 in the year-ago quarter [33][62] - Cash and short-term investments totaled $466 million, a decrease from $553 million in the prior quarter [67] Business Line Data and Key Metrics Changes - Intelligent Platform Solutions (IPS) revenue was $141 million, up 19% from the prior quarter, representing 50% of total SGH revenue [20][63] - Memory revenue was $83 million, accounting for 29% of total sales, with a slight decline from Q1 due to elevated inventory levels [25][63] - LED Solutions revenue totaled $60 million, or 21% of total sales, with expectations for sequential growth in Q3 [59][71] Market Data and Key Metrics Changes - The company noted a strong demand for AI infrastructure solutions from hyperscalers and large-scale cloud service providers, indicating a positive market trend [8][18] - There is a noted upward trend in the memory cycle, although near-term unit demand remains challenging for traditional enterprise customers [13][56] Company Strategy and Development Direction - The company aims to position itself as a leader in AI infrastructure by providing high-performance, high-availability solutions tailored to customer needs [6][18] - The introduction of the Stratus ztC Endurance Server reflects the company's commitment to expanding capabilities at the edge, addressing the demand for fault-tolerant computing [10][54] - The company is focusing on the convergence of compute and memory solutions, leveraging technologies like Compute Express Link (CXL) to enhance performance [26][58] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in a rebound in business as the second half of fiscal 2024 approaches, with expectations for sequential revenue growth in Q3 [13][39] - The management highlighted the complexity enterprises face in deploying AI and the need for trusted advisors to navigate these challenges [76][117] - The company anticipates that the demand for AI infrastructure will continue to grow, particularly as enterprises refine their AI strategies [117] Other Important Information - The company repurchased approximately 106,000 shares for $1.9 million, with a total of $72.3 million used for share repurchases since April 2022 [68][69] - The capital allocation strategy includes investing in business growth, evaluating acquisition opportunities, and returning capital to shareholders [37][69] Q&A Session Summary Question: Demand across customer segments for IPS - Management noted increased engagement with large enterprises and Tier 2 CSPs, highlighting a significant demand for new deployments in AI infrastructure [46][78] Question: Memory outlook and pricing dynamics - Management indicated that while unit demand remains muted, pricing for DRAM and NAND is expected to rise, which could positively impact future gross margins [49][124] Question: Services revenue trends - Management expects services revenue to increase in Q4, indicating that the current decline is not a new run rate level [112][113] Question: Impact of generative AI on customer acquisition - The complexity of AI deployment has made the customer acquisition process longer, but it has also validated the need for the company's consultative approach [116][117]

[PART I. Financial Information](index=4&type=section&id=PART%20I.%20Financial%20Information) [Financial Statements](index=4&type=section&id=Item%201.%20Financial%20Statements) The unaudited consolidated financial statements for Q2 2024 reflect a year-over-year revenue decrease, net loss, and key events like the SMART Brazil divestiture Consolidated Statements of Operations Highlights (Q2 FY2024 vs Q2 FY2023) | Metric | Three Months Ended March 1, 2024 (in thousands) | Three Months Ended February 24, 2023 (in thousands) | | :--- | :--- | :--- | | **Total net sales** | $284,821 | $388,377 | | **Gross profit** | $81,934 | $111,008 | | **Operating income (loss)** | $(3,312) | $(2,077) | | **Net income (loss) from continuing operations** | $(13,007) | $(32,963) | | **Diluted earnings (loss) per share (continuing)** | $(0.26) | $(0.68) | Consolidated Balance Sheet Highlights | Metric | As of March 1, 2024 (in thousands) | As of August 25, 2023 (in thousands) | | :--- | :--- | :--- | | **Total current assets** | $884,730 | $907,402 | | **Total assets** | $1,517,454 | $1,505,958 | | **Total current liabilities** | $267,959 | $426,250 | | **Total liabilities** | $1,105,950 | $1,276,725 | | **Total equity** | $411,504 | $229,233 | Consolidated Statements of Cash Flows Highlights (Six Months Ended) | Metric | Six Months Ended March 1, 2024 (in thousands) | Six Months Ended February 24, 2023 (in thousands) | | :--- | :--- | :--- | | **Net cash provided by (used for) operating activities from continuing operations** | $37,796 | $(6,954) | | **Net cash used for investing activities from continuing operations** | $(8,146) | $(232,524) | | **Net cash provided by (used for) financing activities from continuing operations** | $(86,302) | $222,472 | [Divestiture of SMART Brazil](index=12&type=section&id=Divestiture%20of%20SMART%20Brazil) SGH completed the divestiture of an 81% interest in SMART Brazil for **$194.1 million**, resulting in a **$190.5 million** loss and reclassification of a **$212.4 million** cumulative translation adjustment - Completed the divestiture of an **81% interest** in SMART Brazil on November 29, 2023, retaining a **19% interest**. The operations of SMART Brazil are now presented as discontinued[24](index=24&type=chunk)[27](index=27&type=chunk)[29](index=29&type=chunk) Consideration for 81% Interest in SMART Brazil | Component | Amount (in thousands) | | :--- | :--- | | Cash received at closing | $164,487 | | Post-closing adjustment | $451 | | Deferred payment | $25,433 | | Deferred cash adjustment | $3,721 | | **Total consideration** | **$194,092** | - Recognized a total loss on the divestiture of **$190.5 million**, which includes a pre-tax loss of **$163.9 million** and an income tax provision of **$26.6 million**. The pre-tax loss was primarily driven by the reclassification of a **$212.4 million** cumulative translation adjustment[37](index=37&type=chunk)[39](index=39&type=chunk)[72](index=72&type=chunk) [Business Acquisition - Stratus Technologies](index=17&type=section&id=Business%20Acquisition%20-%20Stratus%20Technologies) The company fully paid the **$50.0 million** contingent consideration for the Stratus Technologies acquisition during Q2 fiscal 2024 - In the second quarter of 2024, the company paid in full the **$50.0 million** contingent consideration (Stratus Earnout) related to the acquisition of Stratus Technologies[43](index=43&type=chunk)[102](index=102&type=chunk) [Debt](index=21&type=section&id=Debt) Total debt stood at **$740.7 million** as of March 1, 2024, with recent prepayments of **$30.0 million** and **$75.0 million** on the TLA Debt Composition as of March 1, 2024 | Debt Instrument | Carrying Value (in thousands) | | :--- | :--- | | Amended 2027 TLA | $494,607 | | 2029 Notes | $147,165 | | 2026 Notes | $98,891 | | **Total Long-term debt** | **$740,663** | - On February 29, 2024, the company prepaid **$30.0 million** of the Amended 2027 TLA. Subsequent to the quarter end, on March 29, 2024, an additional **$75.0 million** was prepaid[57](index=57&type=chunk) [Segment and Other Information](index=30&type=section&id=Segment%20and%20Other%20Information) The company's three segments, Memory Solutions, IPS, and LED Solutions, showed varied Q2 2024 performance, with IPS as the largest by revenue but both IPS and Memory Solutions experiencing significant declines Net Sales by Segment (Q2 FY2024 vs Q2 FY2023) | Segment | Q2 2024 Net Sales (in thousands) | Q2 2023 Net Sales (in thousands) | | :--- | :--- | :--- | | Memory Solutions | $83,297 | $110,339 | | Intelligent Platform Solutions | $141,405 | $222,451 | | LED Solutions | $60,119 | $55,587 | | **Total net sales** | **$284,821** | **$388,377** | Segment Operating Income (Q2 FY2024 vs Q2 FY2023) | Segment | Q2 2024 Operating Income (in thousands) | Q2 2023 Operating Income (in thousands) | | :--- | :--- | :--- | | Memory Solutions | $6,016 | $20,366 | | Intelligent Platform Solutions | $22,291 | $36,645 | | LED Solutions | $(1,793) | $(1,227) | | **Total segment operating income** | **$26,514** | **$55,784** | [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=33&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses the **26.7%** year-over-year decrease in Q2 net sales, driven by IPS and Memory Solutions, and highlights the strategic SMART Brazil divestiture and strong liquidity position - The divestiture of the SMART Brazil business enables the company to focus its strategy on delivering high-performance, high-availability solutions to enterprise customers[100](index=100&type=chunk) - Key factors affecting performance include macro-economic demand, shifts in revenue mix between segments, the ability to integrate acquisitions, and supply chain disruptions, particularly for AI components[105](index=105&type=chunk)[106](index=106&type=chunk)[108](index=108&type=chunk) [Results of Operations](index=36&type=section&id=Results%20of%20Operations) Q2 2024 net sales decreased by **26.7%** to **$284.8 million**, primarily due to declines in IPS and Memory Solutions, while gross margin slightly improved to **28.8%** - Q2 2024 net sales decreased by **$103.6 million** (**26.7%**) YoY, primarily due to lower sales in the IPS and Memory Solutions businesses[110](index=110&type=chunk) - Gross margin increased slightly to **28.8%** in Q2 2024 from **28.6%** in Q2 2023, mainly due to a favorable mix from higher service revenue in the IPS business[112](index=112&type=chunk) [Non-GAAP Operating Income](index=38&type=section&id=Non-GAAP%20Operating%20Income) Non-GAAP operating income for Q2 2024 declined sharply to **$26.5 million**, driven by significant decreases in Memory Solutions and IPS segment performance GAAP to Non-GAAP Operating Income Reconciliation (Q2 FY2024) | Metric | Amount (in thousands) | | :--- | :--- | | **GAAP operating loss** | **$(3,312)** | | Share-based compensation expense | $10,639 | | Amortization of acquisition-related intangibles | $9,751 | | Diligence, acquisition and integration expense | $5,885 | | Restructure charge & other | $3,551 | | **Non-GAAP operating income** | **$26,514** | - Memory Solutions non-GAAP operating income decreased by **70.5%** YoY, and IPS non-GAAP operating income decreased by **39.2%** YoY[115](index=115&type=chunk)[116](index=116&type=chunk) [Liquidity and Capital Resources](index=41&type=section&id=Liquidity%20and%20Capital%20Resources) As of March 1, 2024, the company held **$465.8 million** in cash and investments, deemed sufficient for operations, with key cash flow events including the SMART Brazil divestiture and debt repayments - As of March 1, 2024, the company had cash, cash equivalents, and short-term investments of **$465.8 million**[129](index=129&type=chunk) - Net cash provided by operating activities from continuing operations was **$37.8 million** for the first six months of 2024, a significant improvement from a use of **$7.0 million** in the prior-year period, mainly due to a **$49.5 million** decrease in accounts receivable[135](index=135&type=chunk)[136](index=136&type=chunk) - Key financing activities in the first six months of 2024 included **$51.6 million** in debt repayments and **$15.9 million** in share repurchases[139](index=139&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=44&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company identifies foreign currency exchange risk and interest rate risk as primary market exposures, with hypothetical adverse changes impacting revaluation losses and annual interest expense - A hypothetical **10%** adverse change in foreign currency exchange rates versus the U.S. dollar would result in a revaluation loss of **$3.1 million** on monetary assets and liabilities as of March 1, 2024[146](index=146&type=chunk) - A **1.0%** increase in interest rates on the company's variable-rate debt would increase annual interest expense by approximately **$7.5 million**[148](index=148&type=chunk) [Controls and Procedures](index=46&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were effective as of March 1, 2024, with no material changes to internal control over financial reporting during Q2 fiscal 2024 - Management, including the principal executive and financial officers, concluded that disclosure controls and procedures were effective as of March 1, 2024[150](index=150&type=chunk) - There were no material changes in the company's internal control over financial reporting during the second quarter of fiscal 2024[151](index=151&type=chunk) [PART II. Other Information](index=36&type=section&id=PART%20II.%20Other%20Information) [Legal Proceedings](index=36&type=section&id=Item%201.%20Legal%20Proceedings) This section refers to the 'Commitments and Contingencies' note in the financial statements for information on legal proceedings, with no new material developments - For information on legal proceedings, the report refers to the 'Commitments and Contingencies' note in the financial statements[152](index=152&type=chunk) [Risk Factors](index=36&type=section&id=Item%201A.%20Risk%20Factors) The company reports no material changes to the risk factors previously disclosed in its most recent Annual Report on Form 10-K - There have been no material changes to the risk factors described in the company's most recent Annual Report on Form 10-K[152](index=152&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=36&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) The company authorized an additional **$75 million** for share repurchases, repurchasing **105,998** shares for **$1.85 million** during the quarter, with **$77.7 million** remaining - On January 8, 2024, the Audit Committee approved an additional **$75 million** share repurchase authorization[154](index=154&type=chunk) Share Repurchase Activity (Q2 FY2024) | Period | Total Shares Purchased | Average Price Paid per Share | | :--- | :--- | :--- | | Dec 2, 2023 – Mar 1, 2024 | 105,998 | $17.47 | - As of March 1, 2024, **$77.7 million** remained available for future share repurchases under the authorized plans[154](index=154&type=chunk) [Defaults Upon Senior Securities](index=36&type=section&id=Item%203.%20Defaults%20Upon%20Senior%20Securities) The company reports no defaults upon senior securities during the period - None[156](index=156&type=chunk) [Mine Safety Disclosures](index=36&type=section&id=Item%204.%20Mine%20Safety%20Disclosures) This item is not applicable to the company's business - Not applicable[157](index=157&type=chunk) [Other Information](index=37&type=section&id=Item%205.%20Other%20Information) No director or officer adopted or terminated a Rule 10b5-1 trading arrangement during the fiscal quarter ended March 1, 2024 - No director or officer of the Company adopted or terminated a Rule 10b5-1 trading arrangement during the quarter[158](index=158&type=chunk) [Exhibits](index=37&type=section&id=Item%206.%20Exhibits) This section lists all exhibits filed with the Form 10-Q, including required certifications from the Principal Executive Officer and Principal Financial Officer - The report includes a list of all exhibits filed, such as CEO and CFO certifications (Exhibits 31.1, 31.2, 32.1, 32.2) and Inline XBRL documents[160](index=160&type=chunk)

Exhibit 99.1 Press Release FOR IMMEDIATE RELEASE SGH REPORTS SECOND QUARTER FISCAL 2024 FINANCIAL RESULTS IPS revenue up 19 percent sequentially; total SGH revenue of $285 million Pete Manca to Lead IPS Business SGH today also announced the appointment of Pete Manca as President of Intelligent Platform Solutions ("IPS"). Mr. Manca brings extensive experience building businesses that deliver high-performance solutions to enterprise customers. Prior to joining SGH, Mr. Manca served as a Senior Vice President ...

SMART Global Holdings, Inc. (NASDAQ:SGH) Q1 2024 Earnings Conference Call January 9, 2024 4:30 PM ET Company Participants Suzanne Schmidt - Head, Investor Relation Mark Adams - Chief Executive Officer Jack Pacheco - Chief Operating Officer Ken Rizvi - Chief Financial Officer Conference Call Participants Kevin Cassidy - Rosenblatt Securities Brian Chin - Stifel Nick Doyle - Needham Operator Good afternoon. Thank you for attending the SMART Global Holdings First Quarter Fiscal 2024 Earnings Call. My name is V ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 (Exact name of registrant as specified in its charter) Cayman Islands 98-1013909 (State or other jurisdiction of incorporation or organization) c/o Walkers Corporate Limited 190 Elgin Avenue George Town, Grand Cayman Cayman Islands KY1-9008 (I.R.S. Employer Identification No.) (Address of Principal Executive Offices) (Zip Code) FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the qu ...