---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-23-023899"
form_type: "8-K"
ticker: "PENG"
cik: "0001616533"
company_name: "Penguin Solutions, Inc."
filed_at: "2023-06-29T23:59:59+00:00"
generated_at: "2026-06-13T14:54:17.795155+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# SMART Global Holdings reports Q3 fiscal 2023 net sales down 17.1% to $383M, GAAP loss per share $0.50

## Summary
- Net sales of $383 million, down 17.1% year-over-year; GAAP gross margin improved 100 bps to 25.7%.
- Non-GAAP gross margin up 230 bps to 28.0%; Non-GAAP EPS of $0.66 compared to $0.87 in prior year.
- GAAP net loss attributable to SGH of $24.5 million, or $0.50 per diluted share; prior year net income $24.1 million.
- Record cash and cash equivalents of $401 million at quarter end.
- Announced agreement on June 13 to sell an 81% interest in SMART Brazil as part of transformation.

## SEC filing metadata
- accession: 0001628280-23-023899
- form_type: 8-K
- ticker: PENG
- cik: 0001616533
- company_name: Penguin Solutions, Inc.
- filed_at: 2023-06-29T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1616533/000162828023023899/0001628280-23-023899-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1616533/000162828023023899/sgh-20230629.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-23-023899
- JSON: https://secwatch.observer/filing/0001628280-23-023899.json
- Plain text: https://secwatch.observer/filing/0001628280-23-023899.txt

## Key facts
- Earnings Releases
  Penguin Solutions, Inc. reported third quarter of fiscal 2023 results: revenue $383.3 million, net income $(24.5) million, EPS $(0.50).
  - Period: third quarter of fiscal 2023
  - Revenue: $383.3 million
  - Net income: $(24.5) million
  - EPS: $(0.50)
  - Result: reported results
  source text: Holdings, Inc. (“SGH” or the “Company”) (NASDAQ: SGH) today reported financial results for the third quarter of fiscal 2023. Third Quarter Fiscal 2023 Highlights • Net sales of $383 million, down 17.1% versus the year-ago quarter • GAAP gross margin of 25.7%, up 100 basis points versus the year-ago quarter • Non-GAAP gross margin of 28.0%, up 230 basis points versus
  evidence_url: https://www.sec.gov/Archives/edgar/data/1616533/000162828023023899/0001628280-23-023899-index.htm

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