Highest-materiality recent filing
Penguin Solutions Q3 net sales $479M (+48% YoY); raises FY2026 outlook above prior ranges
Record Q3 net sales of $479M, up 48% YoY; GAAP diluted EPS $0.68 vs $(0.01) YoY.
Nate Olmstead resigns as CFO effective July 8, 2026; will not receive severance as departure is voluntary and not due to disagreements.
Penguin Solutions Q2 FY2026: net sales $343M, GAAP EPS $0.58; raises FY outlook
Net sales $343M (-6% YoY); GAAP diluted EPS $0.58 vs $0.09; non-GAAP EPS $0.52 (unchanged).
Penguin Solutions CEO Mark Adams retires; Kash Shaikh appointed as new CEO effective Feb 2, 2026
Mark Adams resigned as President & CEO and Board member effective Feb 1, 2026; will serve as advisor for 9 months at $24,722/month.
Net sales $343M (+1% YoY); GAAP diluted EPS $0.04 (vs $0.10 prior); Non-GAAP diluted EPS $0.49 (flat).
Penguin Solutions FY25 net sales +17% to $1.37B; GAAP EPS $0.28 vs ($0.85); $75M buyback authorized.
FY25 net sales $1.37B (+17% YoY); GAAP diluted EPS $0.28 vs $(0.85) loss in FY24.
Penguin Solutions Q3 net sales $324M (+7.9% YoY), Non-GAAP EPS $0.47 vs $0.37; raises FY EPS outlook
Net sales $324M, up 7.9% YoY; GAAP diluted EPS $(0.01) vs $0.10; Non-GAAP diluted EPS $0.47 vs $0.37.
Each Cayman ordinary and preferred share exchanged 1:1 for Delaware common and convertible preferred stock.
Closed $400M revolving credit facility to replace $300M Term Loan A and $250M Revolver due 2027.
Penguin Solutions Q2 revenue up 28% to $366M; raises full-year outlook; COO Pacheco to retire
Revenue $365.5M, +28.3% YoY; GAAP EPS $0.09, Non-GAAP EPS $0.52 vs $0.27 YoY.
Penguin Solutions Q1 FY2025 revenue up 24% to $341M; Non-GAAP EPS $0.49
GAAP diluted EPS $0.10 vs ($0.23) YoY; Non-GAAP diluted EPS $0.49 vs $0.24 YoY.
Closed $200M investment from SKT via 200,000 convertible preferred shares at $1,000 each, convertible at $32.80784 per share.
Penguin Solutions (ex-SGH) reports Q4 rev $311M, GAAP EPS -$0.46; FY24 rev $1.17B, GAAP EPS -$0.85
Full-year FY24 net sales $1.17B vs $1.44B in FY23; GAAP EPS $(0.85) vs $0.15; non-GAAP EPS $1.25 vs $2.52.
SGH issues $175M 2.00% convertible notes due 2030; repurchases $80M of 2026 notes
Issued $175M aggregate principal (upsized from $150M) of 2.00% convertible senior notes due 2030.
SGH receives $200M strategic investment from SK Telecom for AI infrastructure expansion
SK Telecom invests $200M in SGH via 200,000 convertible preferred shares at $1,000 per share.
SGH reports sequential revenue growth; GAAP EPS $0.10, Non-GAAP EPS $0.37 in Q3 FY24
Net sales $300.6M, up 5.5% QoQ; GAAP gross margin 29.6% vs 28.8% prior quarter.
SGH appoints Nate Olmstead as CFO, effective June 26, replacing Ken Rizvi
Nate Olmstead appointed SVP and CFO, succeeding Ken Rizvi who resigned effective June 26.
SGH CFO Ken Rizvi to resign June 30; COO Jack Pacheco named interim CFO
Ken Rizvi resigns as CFO effective June 30, 2024 to pursue another opportunity; no dispute with company.
SGH Q2 FY2024 revenue $284.8M, non-GAAP EPS $0.27; appoints Pete Manca as IPS President
Net sales $284.8M, up 3.9% sequential but down 26.7% YoY from $388.4M.
SGH Q1 rev $274.2M (-30% YoY); GAAP EPS ($0.23); record gross margins; $75M buyback
Net sales $274.2M, down 30% YoY; Memory Solutions $85.7M, Intelligent Platform $118.8M, LED $69.8M.
SGH completes sale of 81% of SMART Brazil to Lexar Europe for $205M EV; receives $140M upfront
Completed sale of 81% of SMART Brazil to Lexar Europe (affiliate of Longsys) for $205M enterprise value; received ~$140M upfront cash net of adjustments and withholding tax.
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.
Net sales of $383 million, down 17.1% year-over-year; GAAP gross margin improved 100 bps to 25.7%.
SGH to sell 81% of SMART Brazil to Lexar Europe for ~$166M cash
Upfront cash of $137.7M (81% of $170M) plus deferred cash of $28.35M (81% of $35M) at closing.
SGH Q2 FY23: Non-GAAP EPS $0.76 beats guidance; revenue $429M down 4.5%
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.
SMART Global exchanges $150M of 2.25% 2026 notes for 2.00% 2029 notes plus $15.6M cash
Exchanged $150M principal of 2.25% Convertible Senior Notes due 2026 for $150M of new 2.000% Convertible Senior Notes due 2029 and ~$15.6M cash premium.
SGH exchanges $150M of 2.25% notes for 2.000% notes due 2029; repurchases 325K shares
Exchanged $150M aggregate principal of existing 2.25% convert notes due 2026 for $150M of new 2.000% notes due 2029 plus ~$15.6M cash premium.
SGH reports Q1 FY2023: net sales $465.5M, record non-GAAP gross margin 27.8%, EPS mixed
Net sales of $465.5M, up 6.3% QoQ from $437.7M, down from $469.9M YoY.
Stratus Technologies posts $162.8M revenue, $368K net income for FY ended Feb 2022; goodwill $142.9M
Total revenue $162.8M ($60.2M product, $102.6M service); gross profit $92.0M.
SGH (SMART Global) reports record FY22 revenue $1.82B (+21% YoY); Q4 net sales down 6% YoY
Full year FY22 net sales $1.819B, up 21% YoY; GAAP EPS $1.22, non-GAAP EPS $3.62.
On May 31, 2026, the board of directors of the Company appointed Aaron Johnson, the Company’s Vice President, Finance and Accounting, as interim CFO and as the Company’s principal financial and accounting officer, succeeding Mr. Olmstead in these positions effective as of July 9, 2026, on an interim basis until the Company appoints a successor.
On May 26, 2026, Nate Olmstead notified Penguin Solutions, Inc. (the “Company”) of his decision to resign as the Company’s Senior Vice President and Chief Financial Officer (“CFO”), effective as of July 8, 2026, to pursue another opportunity in a different industry.
On May 18, 2026, the board of directors (the “Board”) of Penguin Solutions, Inc. (the “Company”) increased the authorized size of the Board to eight members, and upon the recommendation of the Nominating and Corporate Governance Committee of the Board, appointed David Heard to the Board and as a member of the Compensation Committee of the Board, effective immediately.
On April 1, 2025, Jack Pacheco, the Company’s Executive Vice President, Chief Operating Officer (“COO”) and President of Integrated Memory, informed the Company of his decision to retire on December 31, 2025
the Company and Ken Rizvi (who previously served as the Company’s CFO and who had resigned effective as of June 30, 2024, as reported by the Company in its Current Report on Form 8-K filed on May 14, 2024) mutually agreed that Mr. Rizvi’s resignation would instead take effect immediately prior to the effectiveness of Mr. Olmstead’s appointment.
On June 25, 2024, the Board of Directors (the “Board”) of SMART Global Holdings, Inc. (the “Company”) appointed Nathan Olmstead as the Company’s Senior Vice President and Chief Financial Officer (“CFO”), effective as of June 26, 2024 (the “Start Date”).
Effective upon Mr. Rizvi’s departure, Jack Pacheco, the Company’s former CFO and current chief operating officer and president of Memory Solutions, will assume the role of interim CFO and serve as the Company’s principal financial and accounting officer on an interim basis until the Company appoints a permanent successor.
On May 8, 2024, Ken Rizvi notified SMART Global Holdings, Inc. (the “Company”) that after over three years as the Company’s senior vice president and chief financial officer (“CFO”), he intends to resign to pursue another opportunity.
On April 9, 2024, the Company announced the appointment of Pete Manca as the Company’s President, Intelligent Platform Solutions (“IPS”).
Mr. Manca succeeds David Laurello, who ceased serving as the Company’s Senior Vice President and President, IPS, effective as of April 8, 2024.
the Board of Directors (the “Board”) of SMART Global Holdings, Inc. (the “Company”) announced that Thierry Pellegrino ceased serving as the Company’s Senior Vice President and President, Intelligent Platform Solutions, effective as of June 27, 2023.
On July 15, 2023, the Board of Directors (the “Board”) of SMART Global Holdings, Inc. (the “Company”) appointed Mary G. Puma to the Board and as a member of the Audit Committee of the Board and the Compensation Committee of the Board, effective immediately.
Max materiality 0.85 · Median 0.60 · Most common event earnings