---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-23-000078"
form_type: "8-K"
ticker: "PENG"
cik: "0001616533"
company_name: "Penguin Solutions, Inc."
filed_at: "2023-01-03T23:59:59+00:00"
generated_at: "2026-06-20T20:52:47.342442+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# SGH reports Q1 FY2023: net sales $465.5M, record non-GAAP gross margin 27.8%, EPS mixed

## Summary
- Net sales of $465.5M, up 6.3% QoQ from $437.7M, down from $469.9M YoY.
- GAAP gross margin 25.4% (up 170 bps QoQ); non-GAAP gross margin 27.8% (record, up 320 bps QoQ).
- GAAP diluted EPS $0.10 vs $0.40 prior quarter; non-GAAP diluted EPS $0.79 vs $0.80 prior quarter.
- Non-GAAP net income attributable to SGH $39.5M, down from $40.4M QoQ and $56.3M YoY.

## SEC filing metadata
- accession: 0001628280-23-000078
- form_type: 8-K
- ticker: PENG
- cik: 0001616533
- company_name: Penguin Solutions, Inc.
- filed_at: 2023-01-03T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1616533/000162828023000078/0001628280-23-000078-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1616533/000162828023000078/sgh-20230103.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-23-000078
- JSON: https://secwatch.observer/filing/0001628280-23-000078.json
- Plain text: https://secwatch.observer/filing/0001628280-23-000078.txt

## Key facts
- Earnings Releases
  Penguin Solutions, Inc. reported first quarter of fiscal 2023 results: revenue $465 million, EPS $0.10.
  - Period: first quarter of fiscal 2023
  - Revenue: $465 million
  - EPS: $0.10
  - Result: reported results
  source text: First Quarter Fiscal 2023 Highlights • Net sales of $465 million, up 6.3% versus the prior quarter • GAAP gross margin of 25.4%, up 170 basis points versus the prior quarter • Non-GAAP gross margin of 27.8%, up 320 basis points versus the prior quarter • GAAP EPS of $0.10 versus $0.40 in the prior quarter • Non-GAAP EPS of $0.79 versus $0.80 in the prior quarter • Closed acquisition of Stratus Technologies on August 29, 2022
  evidence_url: https://www.sec.gov/Archives/edgar/data/1616533/000162828023000078/0001628280-23-000078-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.