Penguin Solutions, Inc. · NASDAQ:PENG

Penguin Solutions — SMART Global Holdings — Q3 FY2022 Earnings Presentation

17 slides from Penguin Solutions's earnings presentation, Jun 29, 2022

  1. Slide 1: Q3 FY2022 SGH Financial Results

    Q3 FY2022 SGH FINANCIAL RESULTS JUNE 29, 2022

  2. Slide 2: Disclaimer

    Disclaimer This presentation and oral communications made during the course of this presentation will contain Accordingly, investors are cautioned not to place undue reliance on any forward-looking statements. "forward-looking statements," including, among other things, statements regarding future e

  3. Slide 3: Speakers

    Mark Adams President and CEO SMART Global Holdings SPEAKERS Ken Rizvi SVP and CFO SMART Global Holdings

  4. Slide 4: SGH Q3 FY22 Highlights

    SGH Q3 FY22 Highlights 9th Consecutive Strong Gross Margin Quarter of YoY  GAAP gross margin of Revenue Growth 25%, up ~540 bp YoY  Revenue of $463M  Non-GAAP gross margin  Up 6% vs. year-ago of 26%, up ~380 bp YoY quarter Non-GAAP EPS Up Announced Acquisition Significantly YoY of Stratus Techno

  5. Slide 5: SGH Transformation Highlights

    SGH Transformation Highlights In less than two years we have:  Grown revenue from $1.1 billion to > $1.8 billion  Expanded non-GAAP gross margins from 19.8% to 25+%  Diversified revenue with organic growth and acquisition of Cree LED  Strengthened the balance sheet, leveraging strong cash flow g

  6. Slide 6: Business Line Highlights

    Business Line Highlights Intelligent Platform Solutions LED Solutions Memory Solutions  Q3 FY22 revenue up 16% sequentially  Q3 FY22 revenue of $101M vs. $102M  Q3 FY22 revenue of $266M up 11% to $95M in year-ago quarter vs. year-ago quarter  Services revenue up 61% sequentially  Strong perform

  7. Slide 7: Financial Review

    FINANCIAL REVIEW KEN RIZVI, SVP AND CFO

  8. Slide 8: Non-GAAP Quarterly Results

    Non-GAAP Quarterly Results 9th consecutive quarter of year-over-year growth Non-GAAP Non-GAAP Net Sales Gross Margin EPS Q3 FY22 $463M 26% $0.87 Change vs. Q3 FY21 up 6% up ~380 bp Up 24% Q3 Guidance* $435-$475M 24-26% $0.75 +/- $0.08 Note: all per share measures reflect the February 2022 two-for-on

  9. Slide 9: Q3 FY2022 Non-GAAP Operating Results

    Q3 FY2022 Non-GAAP Operating Results ($ M) Q3 FY22 Q2 FY22 Q3 FY21 Net sales $462.5 $449.2 $437.7 Intelligent Platform Solutions $95.3 $82.3 $95.8 Memory Solutions $265.9 $260.1 $240.1 LED Solutions $101.3 $106.8 $101.8 Gross profit $118.9 $116.9 $95.7 Operating expenses $64.6 $59.5 $52.4 Net income

  10. Slide 10: Q3 FY2022 Balance Sheet Highlights

    Q3 FY2022 Balance Sheet Highlights Working Q2 FY22 Q3 FY22 Q2 FY22 Q3 FY22 Q2 FY22 Q3 FY22 Capital Cash Flow CapEx Net Accounts Cash & $386M $357M $366M $387M CapEx $7M $9M Receivable Equivalents (at period end) Days Sales 45 days 31 days CF from Depreciation $10M $11M Outstanding $32M $37M Operatio

  11. Slide 11: Q4 FY 2022 Guidance

    Q4 FY 2022 Guidance GAAP Non-GAAP Outlook Adjustments Outlook Net Sales $420 to $460 million ‒ $420 to $460 million Gross Margin 22.5% to 24.5% 1% (A) 23.5% to 25.5% Diluted EPS $0.22 +/- $0.10 $0.43 (A,B,C) $0.65 +/- $0.10 Diluted Shares 55 million (2) million 53 million See appendix for GAAP to no

  12. Slide 12: Powering Growth. Expanding Possibilities.

    POWERING GROWTH. EXPANDING POSSIBILITIES. © 2022 SGH

  13. Slide 13: Appendix

    APPENDIX © 2022 SGH

  14. Slide 14: GAAP to Non-GAAP Reconciliations

    GAAP to Non-GAAP Reconciliations © 2022 SGH

  15. Slide 15: GAAP to Non-GAAP Reconciliations

    GAAP to Non-GAAP Reconciliations © 2022 SGH 15

  16. Slide 16: GAAP to Non-GAAP Reconciliations

    GAAP to Non-GAAP Reconciliations © 2022 SGH

  17. Slide 17: Convertible Dilution

    Convertible Dilution © 2022 SGH

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