Penguin Solutions, formerly known as SMART Global Holdings, reported net sales of $567 million for the fourth fiscal quarter of 2026. This represents a 68% increase compared to the same period last year.
Diluted earnings per share reached $1.00, marking a 133% year-over-year growth and exceeding consensus expectations. AI-driven operations accounted for 78% of the total quarterly revenue.
The Integrated Memory unit was the primary growth driver, with revenue rising 158% to $341 million. For the full fiscal year 2026, the company recorded total revenue of $1.73 billion, a 26% increase.
During the quarter, the company secured six new AI infrastructure clients, including four neocloud providers. Management has raised its fiscal 2027 revenue guidance to approximately $2.43 billion.
The company also projects non-GAAP diluted earnings per share of about $4.45 for fiscal 2027. Penguin Solutions currently trades on the Nasdaq under the ticker PENG.
