Financial Performance - Penguin Solutions' net sales for Q1 FY26 were $343 million, a 1% increase year-over-year (YoY)[10] - The non-GAAP gross margin was 30.0%, a decrease of 0.8 percentage points YoY[10] - Non-GAAP operating income reached $42 million, up 1% YoY, with a non-GAAP operating margin of 12.1%, up 0.1 percentage points YoY[10] - Non-GAAP diluted earnings per share (EPS) remained flat YoY at $0.49[10] Segment Performance - Advanced Computing net sales were $151 million in Q1, up 9% compared to Q4 FY25[25] - Integrated Memory revenue was $137 million in Q1, a significant increase of 41% YoY[27] - Optimized LED net sales were $55 million in Q1, down 18% YoY, but achieved an operating income of $3.5 million, up 24% sequentially[30] Balance Sheet and Cash Flow - Net accounts receivable stood at $342 million[43] - Inventory was valued at $213 million[43] - Cash, cash equivalents, and short-term investments totaled $461 million at the end of the period[43] - Net cash from operating activities from continuing operations was $31 million[43] Stock Repurchase - Penguin Solutions repurchased 791,000 shares for $15 million in Q1 FY26[46] - Since April 2022, the company has repurchased 7.4 million shares for a total of $128 million[46] FY26 Outlook - Penguin Solutions anticipates net sales growth of 6% YoY, with a potential variance of +/- 10%[48] - The projected gross margin is 29% +/- 1%[48] - Operating expenses are expected to be $250 million +/- $10 million on a non-GAAP basis[48] - Non-GAAP diluted earnings per share are forecasted at $2.00 +/- $0.25[48]
Penguin Solutions, Inc.(PENG) - 2026 Q1 - Earnings Call Presentation