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Penguin Solutions Reports Q2 Fiscal 2025 Financial Results
Revenue up 28% compared with year-ago quarter Company raises midpoint of annual revenue outlook MILPITAS, Calif.--(BUSINESS WIRE)-- Penguin Solutions, Inc.
About this update from Penguin Solutions, Inc.
[{"type":"text","content":"\nRevenue up 28% compared with year-ago quarter\n\nCompany raises midpoint of annual revenue outlook\n\n MILPITAS, Calif.--(BUSINESS WIRE)--\nPenguin Solutions, Inc. (“Penguin Solutions,” “we,” “us,” or the “Company”) (NASDAQ: PENG) today reported financial results for the second quarter of fiscal 2025 and announced the planned retirement of Chief Operating Officer (“COO”) and President of Integrated Memory Jack Pacheco.\n\nSecond Quarter Fiscal 2025 Highlights\n\n\nNet sales of $366 million, up 28.3% versus the year-ago quarter\n\n\nGAAP gross margin of 28.6%, down 20 basis points versus the year-ago quarter\n\n\nNon-GAAP gross margin of 30.8%, down 70 basis points versus the year-ago quarter\n\n\nGAAP diluted EPS of $0.09 versus $(0.26) in the year-ago quarter\n\n\nNon-GAAP diluted EPS of $0.52 versus $0.27 in the year-ago quarter\n\n\n“We are pleased with the progress we are making in fiscal year 2025,” said Mark Adams, Chief Executive Officer (“CEO”) of Penguin Solutions. “Our results reinforce our capabilities in managing the complexity of AI for our valued customers. Given our strong start to the fiscal year, we are raising the midpoint of our revenue outlook for the full year.”\n\nQuarterly Financial Results\n\n\n\n \n\n\n\nGAAP (1)\n\n\n\n \n\n\n\nNon-GAAP (2)\n\n\n\n\n\n(in thousands, except per share amounts)\n\n\n\nQ2-25\n\n\n\n \n\n\n\nQ1-25\n\n\n\n \n\n\n\nQ2-24\n\n\n\n \n\n\n\nQ2-25\n\n\n\n \n\n\n\nQ1-25\n\n\n\n \n\n\n\nQ2-24\n\n\n\n\n\nNet sales:\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n\n\nAdvanced Computing\n\n\n\n$\n\n\n\n200,157\n\n\n\n \n\n\n\n$\n\n\n\n177,426\n\n\n\n \n\n\n\n$\n\n\n\n141,405\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n200,157\n\n\n\n \n\n\n\n$\n\n\n\n177,426\n\n\n\n \n\n\n\n$\n\n\n\n141,405\n\n\n\n\n\nIntegrated Memory\n\n\n\n \n\n\n\n105,260\n\n\n\n \n\n\n\n \n\n\n\n96,706\n\n\n\n \n\n\n\n \n\n\n\n83,297\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n105,260\n\n\n\n \n\n\n\n \n\n\n\n96,706\n\n\n\n \n\n\n\n \n\n\n\n83,297\n\n\n\n\n\nOptimized LED\n\n\n\n \n\n\n\n60,102\n\n\n\n \n\n\n\n \n\n\n\n66,970\n\n\n\n \n\n\n\n \n\n\n\n60,119\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n60,102\n\n\n\n \n\n\n\n \n\n\n\n66,970\n\n\n\n \n\n\n\n \n\n\n\n60,119\n\n\n\n\n\nTotal net sales\n\n\n\n$\n\n\n\n365,519\n\n\n\n \n\n\n\n$\n\n\n\n341,102\n\n\n\n \n\n\n\n$\n\n\n\n284,821\...