Penguin Solutions (PENG) Fiscal Q4 2026 Earnings Call: AI Growth Drives Record Sales

Key Takeaways

• Penguin Solutions reported fiscal Q4 2026 net sales of $567 million, up 68% year over year and 18% sequentially. Diluted EPS rose 133% year over year to $1.00.
• AI-driven businesses—non-hyperscale AI infrastructure and integrated memory—accounted for 78% of quarterly net sales and grew 141% year over year.
• Integrated memory generated record quarterly net sales of $341 million, up 158% year over year and 24% sequentially, driven by higher volume and pricing.
• Non-hyperscale AI infrastructure sales increased 99% year over year and represented 66% of advanced computing revenue. Penguin added six AI infrastructure customers during the quarter, including four neo-cloud providers.
• Management expects fiscal 2027 net sales growth of approximately 40% at the midpoint to about $2.43 billion. Diluted EPS is projected to increase approximately 55% to $4.45 at the midpoint.
• The company ended fiscal 2026 with record backlog. Management said bookings grew faster than net sales in AI infrastructure and integrated memory, while the memory backlog extends at least four quarters.

Key Financial Data