Guidance

Why Is Penguin Solutions Stock Soaring Thursday?

Akanksha Bakshi — Thu, 02 Apr 2026 14:39:03 +0000

Penguin Solutions Inc. (NASDAQ:PENG) shares rose on Thursday after the company raised its full-year net sales and EPS outlook, following stronger-than-expected second-quarter results.

Financial Performance

Net sales were $343 million, down 6% year over year but above the $337.938 million estimate. Adjusted EPS was 52 cents, beating the 42-cent estimate, while GAAP diluted EPS rose to 58 cents from 9 cents.

GAAP gross margin was 27.3%, down 130 basis points, and non-GAAP gross margin was 31.2%, up 40 basis points. GAAP operating income increased to $25.7 million from $18.5 million, and net income attributable to Penguin Solutions rose to $37.5 million from $8.1 million.

Segment Results

Advanced Computing revenue declined to $115.7 million from $200.2 million a year earlier. Integrated Memory revenue increased to $171.6 million from $105.3 million.

Optimized LED revenue fell to $55.7 million from $60.1 million.

CEO Kash Shaikh said, "Enterprises, governments, and neocloud providers are racing to build AI factories, as platforms scale to power the next generation of inference workloads. Our AI/HPC pipeline continues to expand, and we added five AI/HPC customers this quarter, including a Tier One financial institution deploying our MemoryAI™ CXL-based KV cache server.”

“Memory is a critical scaling factor for AI inference, and that aligns with one of our ...

Index	Performance (+/-)
Dow Jones	-0.89%
S&P 500	-1.09%
Nasdaq 100	-1.46%
Russell 2000	-1.47%

Guidance

Why Is Penguin Solutions Stock Soaring Thursday?

Financial Performance

Segment Results

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