Penguin Solutions, Inc.

Penguin Solutions reported strong financial results for the third quarter and first nine months of fiscal year 2026. Net sales, net income, and diluted EPS saw significant year-over-year increases. The company also completed the sale of Zilia Technologies and disposed of its investment in Celestial AI, realizing gains from both transactions, while also recording an impairment on another equity investment. The company previously completed its U.S. Domestication from the Cayman Islands to Delaware in June 2025.

Penguin Solutions, Inc. reported record financial results for the third quarter of fiscal 2026, driven by strong AI-driven demand. Net sales grew 48% year-over-year to $479 million, and Non-GAAP diluted EPS increased 79% to $0.84. The company also raised its full-year fiscal 2026 outlook for both net sales and EPS, reflecting confidence in its AI Factory Platform strategy and continued momentum in its Integrated Memory and AI Infrastructure businesses.

Penguin Solutions, Inc. announced the compensatory arrangements for Aaron Johnson, who was previously appointed as interim Chief Financial Officer and principal financial and accounting officer, effective July 9, 2026. The Compensation Committee approved a monthly stipend of $10,000 for his service in this role. Additionally, Mr. Johnson will receive a retention equity grant of 5,153 time-based restricted stock units, with 25% vesting on July 20, 2027, and the remainder vesting in 12 equal quarterly installments thereafter.

Penguin Solutions announced that Nate Olmstead will resign as Senior Vice President and CFO, effective July 8, 2026, to pursue a new opportunity. Aaron Johnson, the company's Vice President of Finance and Accounting, has been appointed interim CFO, effective July 9, 2026. The company also reaffirmed its full-year fiscal 2026 financial outlook, expecting net sales and diluted EPS to be at the high end of its previously issued ranges, driven by strong agentic AI demand.

Penguin Solutions, Inc. announced the appointment of David Heard to its Board of Directors and Compensation Committee, effective immediately. Mr. Heard, currently President of Network Infrastructure at Nokia and former CEO of Infinera Corporation, brings over three decades of experience in scaling complex infrastructure platforms and optical networking technologies. His expertise is expected to strengthen the company's AI Factory Platform strategy. He will serve as a Class I director until the 2029 annual meeting and will receive cash and an initial grant of 4,485 restricted stock units.