Penguin Solutions — 2026Q3 earnings

“Record net sales of $479 million, up 48% versus the year-ago quarter”

“Q3 Non-GAAP diluted EPS of $0.84 versus $0.47 in the year-ago quarter, an increase of 79%”

“Integrated Memory net sales more than doubled year over year, and our AI Infrastructure business continued to build momentum, reflecting strong demand and execution across our memory and AI Infrastructure portfolio”

“Added four new AI Infrastructure customer logos in Q3.”

“Penguin Solutions is further raising its previously-issued improved financial outlook for full-year fiscal 2026, and as of July 7, 2026, expects both net sales and diluted EPS for full-year fiscal 2026 to be above the high end of its previously-issued outlook ranges. Supported by very strong agentic AI-driven customer demand across its Integrated Memory and AI Infrastructure businesses, Penguin Solutions now expects full-year fiscal 2026 net sales growth of 22% plus or minus 2%, full-year GAAP EPS of $1.97 plus or minus 5 cents, and full-year non-GAAP EPS of $2.60 plus or minus 5 cents”

“In Q3, our AI-driven businesses represented 74% of total company net sales and grew 104% year over year.”

“Our strong results reflect a fundamental shift: agentic AI is driving sustained, structural demand for memory, reinforcing our view that this AI-driven demand is more durable than a traditional cyclical memory upturn.”

“our preliminary fiscal 2027 view contemplates both total company net sales growth and non-GAAP EPS growth of approximately 30% from the midpoint of our full-year FY26 outlook.”

“Our Q4 outlook assumes less pricing favorability than we experienced in Q3, and we therefore expect some downward pressure on gross margins as we exit the year.”

“So, the demand continues to increase. So, while the prices are going up, and it may stabilize at some point, but we see increased demand.”