secwatch.observer — SEC 8-K summary
======================================

Issuer:     Penguin Solutions, Inc. (PENG)
CIK:        0001616533
Form:       8-K
Filed at:   2023-10-12T23:59:59+00:00
Accession:  0001628280-23-034285
Event type: earnings
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

SGH Q4 revenue down 12.6% YoY; FY2023 record gross margins; SMART Brazil sale pending
--------------------------------------------------------------------------------

- Q4 continuing ops revenue $316.7M, down 12.6% YoY; Non-GAAP EPS $0.35 vs $0.63.
- FY2023 revenue $1.44B (+3.3% YoY); record Non-GAAP gross margin 31.7% (+250bps).
- Cash and short-term investments at $391M; strong balance sheet per CEO.
- Segment: Intelligent Platform Solutions revenue $145.4M (flat); Memory Solutions down 22% YoY.
- SMART Brazil sale (81% interest) classified as discontinued ops; expected close late 2023/early 2024.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1616533/000162828023034285/0001628280-23-034285-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1616533/000162828023034285/sgh-20231012.htm
  HTML page:      https://secwatch.observer/filing/0001628280-23-034285

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer