---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-24-015443"
form_type: "8-K"
ticker: "PENG"
cik: "0001616533"
company_name: "Penguin Solutions, Inc."
filed_at: "2024-04-09T23:59:59+00:00"
generated_at: "2026-06-04T00:57:25.459471+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# SGH Q2 FY2024 revenue $284.8M, non-GAAP EPS $0.27; appoints Pete Manca as IPS President

## Summary
- Net sales $284.8M, up 3.9% sequential but down 26.7% YoY from $388.4M.
- GAAP diluted EPS $(0.26); non-GAAP EPS $0.27, vs $(0.23) and $0.24 prior quarter.
- IPS segment revenue $141.4M, up 19% sequentially; Memory $83.3M, LED $60.1M.
- GAAP gross margin 28.8% vs 30.2% prior; non-GAAP 31.5% vs 33.3% prior.
- Pete Manca appointed President of IPS, replacing David Laurello; previously SVP at Dell.

## SEC filing metadata
- accession: 0001628280-24-015443
- form_type: 8-K
- ticker: PENG
- cik: 0001616533
- company_name: Penguin Solutions, Inc.
- filed_at: 2024-04-09T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 5.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1616533/000162828024015443/0001628280-24-015443-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1616533/000162828024015443/sgh-20240408.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-24-015443
- JSON: https://secwatch.observer/filing/0001628280-24-015443.json
- Plain text: https://secwatch.observer/filing/0001628280-24-015443.txt

## Key facts
- Earnings Releases
  Penguin Solutions, Inc. reported second quarter of fiscal 2024 results: revenue $284.8 million, net income $(13.6) million, EPS $(0.26).
  - Period: second quarter of fiscal 2024
  - Revenue: $284.8 million
  - Net income: $(13.6) million
  - EPS: $(0.26)
  - Result: reported results
  source text: EX-99.1 (EX-99.1) --- Press Release FOR IMMEDIATE RELEASE SGH REPORTS SECOND QUARTER FISCAL 2024 FINANCIAL RESULTS IPS revenue up 19 percent sequentially; total SGH revenue of $285 million Milpitas, Calif. – April 9, 2024 – SMART Global Holdings, Inc. (“SGH” or the “Company”) (NASDAQ: SGH) today reported financial results for the second quarter of fiscal 2024.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1616533/000162828024015443/0001628280-24-015443-index.htm
- Executive change
  Pete Manca was appointed as President, Intelligent Platform Solutions (IPS) at Penguin Solutions, Inc..
  - Action: appointed
  - Role: President, Intelligent Platform Solutions (IPS)
  source text: On April 9, 2024, the Company announced the appointment of Pete Manca as the Company’s President, Intelligent Platform Solutions (“IPS”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1616533/000162828024015443/0001628280-24-015443-index.htm
- Executive change
  David Laurello departed as Senior Vice President and President, IPS at Penguin Solutions, Inc..
  - Action: ceased serving
  - Role: Senior Vice President and President, IPS
  source text: Mr. Manca succeeds David Laurello, who ceased serving as the Company’s Senior Vice President and President, IPS, effective as of April 8, 2024.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1616533/000162828024015443/0001628280-24-015443-index.htm

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