Penguin Solutions' third quarter fiscal 2026 revenue surged 48% to a record $479M, prompting a significant raise to its full-year outlook.

Penguin Solutions reported record third quarter fiscal 2026 results, with net sales of $478.7 million and non-GAAP diluted EPS of $0.84, significantly exceeding analyst expectations. The company also raised its full-year 2026 financial outlook, citing strong AI-driven demand.

Key Highlights

• Net sales grew 48% year-over-year to a record $478.7 million, beating estimates of $407.5 million.
• The Integrated Memory segment was a key driver, with revenue growing 111% year-over-year to $275.1 million.
• Penguin raised its full-year fiscal 2026 outlook, now expecting net sales growth of 22% (previously 12%) and non-GAAP EPS of approximately $2.60 (previously $2.15).