SGH Q2 FY23: Non-GAAP EPS $0.76 beats guidance; revenue $429M down 4.5%

Penguin Solutions, Inc.

2023-Q2 EPS reported -$0.45 revenue$894,652,000

GAAP net loss $27.2M ($0.55 loss per share) vs. profit $2.5M a year ago; Non-GAAP net income $37.6M ($0.76 EPS) above high end of guidance.
Non-GAAP gross margin 28.9% (up 290 bps YoY) and GAAP gross margin 25.7% (up 60 bps YoY).
Record IPS segment revenue of $222M; total net sales $429M down 4.5% YoY.
Cash and equivalents $376M; CEO cites resilience, strategic investments in AI/ML and data analytics.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Penguin Solutions, Inc. reported second quarter of fiscal 2023 results: revenue $429 million, net income (27.2), EPS $(0.55).

Period: second quarter of fiscal 2023
Revenue: $429 million
Net income: (27.2)
EPS: $(0.55)
Result: reported results

Exact text from the filing

Second Quarter Fiscal 2023 Highlights • Net sales of $429 million, down 4.5% versus the year-ago quarter • GAAP gross margin of 25.7%, up 60 basis points versus the year-ago quarter • Non-GAAP gross margin of 28.9%, up 290 basis points versus the year-ago quarter • GAAP EPS of $(0.55) versus $0.04 in the year-ago quarter • Non-GAAP EPS of $0.76 versus $0.87 in the year-ago quarter • Cash and cash equivalents of $376 million

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Source: SEC EDGAR

accession 0001628280-23-010584

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