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Penguin Solutions (PENG)

Penguin Solutions, Inc. (PENG) is a global enterprise solutions provider specializing in high-performance computing, artificial intelligence (AI) infrastructure, and advanced memory solutions. The company delivers innovative, high-availability technologies tailored for enterprise needs, including AI factory offerings and LED-based solutions. PENG operates globally, serving a diverse customer base of OEMs, commercial enterprises, and government entities.

  1. Advanced Computing - Focuses on high-performance computing and AI solutions, enabling enterprises to deploy cutting-edge AI infrastructure and optimize computational workloads.
  2. Integrated Memory - Provides advanced memory solutions designed to meet the complex requirements of enterprise applications and data-intensive operations.
  3. Optimized LED - Specializes in LED-based solutions, offering innovative lighting technologies for various applications.

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NamePositionExternal RolesShort Bio

Mark Adams

ExecutiveBoard

President and CEO

Board member at Cadence Design Systems, Inc. and Seagate Technology Holdings plc

Mark Adams has been CEO since 2020, leading PENG through significant growth, including a 24.4% YoY revenue increase in Q1 FY25. Previously held executive roles at Micron Technology and Lumileds.

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Anne Kuykendall

Executive

SVP and Chief Legal Officer

None

Anne Kuykendall joined PENG in 2021 and was promoted to Chief Legal Officer in 2023. She played a key role in the company's rebranding and compliance efforts.

Jack Pacheco

Executive

EVP, COO, and President of Integrated Memory

None

Jack Pacheco has been with PENG since 2004, serving in various leadership roles. Currently oversees operations and the Integrated Memory division.

Nate Olmstead

Executive

Senior Vice President and CFO

None

Nate Olmstead joined as CFO in 2024, previously serving as CFO at Logitech International and holding senior finance roles at Hewlett-Packard.

Pete Manca

Executive

SVP and President of Advanced Computing

None

Pete Manca joined PENG in 2024 to lead the Advanced Computing segment, contributing to 47% of the company's FY24 revenue. Previously held leadership roles at Dell Technologies and Egenera.

Bryan Ingram

Board

Director

Board member at Aviat Networks, Inc.

Bryan Ingram has been a director since 2018. He retired from Broadcom in 2020, where he held senior leadership roles, including SVP and GM of the Wireless Semiconductor Division.

Mark Papermaster

Board

Director

CTO and EVP at AMD; Member of multiple advisory boards, including IEEE and the Global Semiconductor Alliance

Mark Papermaster joined PENG's board in 2022. He is a seasoned technology executive, currently serving as CTO at AMD, and has held leadership roles at Cisco, Apple, and IBM.

Mary Puma

Board

Director

Director at Ciena Corporation, Allegro MicroSystems, Inc., and Entegris, Inc.; Chair of SEMI

Mary Puma joined PENG's board in 2023 after retiring as CEO of Axcelis Technologies. She has decades of experience in the semiconductor industry.

Maximiliane Straub

Board

Director

Board member at two private companies

Maximiliane Straub has been a director since 2019. She has held senior finance roles at Bosch and other organizations and was recognized as a top woman in the auto industry.

Min Yong Ha

Board

Director

Chief Development Officer at SK Telecom; Board member at Pacific Telecom, ID Quantique, Rebellions Inc.

Min Yong Ha joined PENG's board in 2024 as part of SK Telecom's strategic investment. He has extensive experience in AI and corporate strategy.

Penelope Herscher

Board

Chairperson of the Board

Chair of Lumentum Holdings, Inc.; Board member at FORVIA SA and one private company

Penelope Herscher has been Chairperson since 2021. She has extensive experience as a technology executive and board member, including CEO roles at First Rain and Simplex Solutions.

Randy Furr

Board

Director

None

Randy Furr has been a director since 2017. He previously served as CFO at Bloom Energy and Spansion Inc., and as President and COO at Sanmina Corporation.

Notable M&A activity and strategic investments in the past 3 years.

CompanyYearDetails

Stratus Technologies

2023

SGH acquired Stratus Technologies for a $225 million cash purchase plus up to a $50 million contingent earnout, which was settled in cash; the acquisition, completed in August 2022 and contributing net sales in FY 2023, strategically enhances SGH’s Intelligent Platform Solutions by adding advanced high-availability and fault-tolerant computing platforms for data centers and edge environments.

Recent press releases and 8-K filings for PENG.

Penguin Solutions Reports Strong FY 2025 Results and Provides FY 2026 Outlook
·$PENG
Earnings
Guidance Update
Share Buyback
  • Penguin Solutions reported strong fiscal year 2025 financial results, with revenue growing 17% year-over-year and non-GAAP diluted EPS increasing 53% to $1.09.
  • Key strategic accomplishments in FY 2025 included securing a $200 million investment from SK Telecom, deploying its first international AI infrastructure, and strengthening partnerships.
  • For fiscal year 2026, the company projects net sales growth of 6% plus or minus 10% and non-GAAP diluted EPS of $2 plus or minus $0.25. This outlook incorporates a 14 percentage point headwind from the wind-down of the Penguin Edge business and no hyperscale hardware sales.
  • The board authorized a $75 million increase in the stock repurchase program, bringing the total remaining authorization to $112 million, and the company reduced its total gross debt by $200 million through refinancing.
1 hour ago
Penguin Solutions Announces Strong FY25 and Q4 FY25 Results with Strategic Investments and Debt Reduction
·$PENG
Earnings
Guidance Update
Share Buyback
  • Penguin Solutions reported Net Sales of $1.37 billion for FY25, an increase of 17% compared to FY24, and $338 million for Q4 FY25, up 9% year-over-year.
  • The company achieved Non-GAAP diluted EPS of $1.90 for FY25, a 53% increase over FY24, and $0.43 for Q4 FY25, up 18% year-over-year.
  • Penguin Solutions closed a $200 million SK Telecom strategic investment and refinanced debt, reducing total gross debt by $200 million and achieving net debt of $16 million at FY25 year-end.
  • The company repurchased 16K shares for $296K in Q4 FY25 and announced a new $75 million stock repurchase authorization in October 2025.
  • For FY26, Penguin Solutions anticipates Non-GAAP diluted EPS to be $2.00 +/- $0.25.
4 hours ago
Penguin Solutions Reports Q4 and Full Year Fiscal 2025 Financial Results and Authorizes Stock Repurchase
·$PENG
Earnings
Guidance Update
Share Buyback
  • Penguin Solutions reported Fiscal Year 2025 net sales of $1.37 billion, representing a 17% increase compared to the prior year, with GAAP diluted EPS of $0.28 and Non-GAAP diluted EPS of $1.90.
  • For the fourth quarter of fiscal 2025, net sales were $338 million, an increase of 9% versus the year-ago quarter, and Non-GAAP diluted EPS was $0.43.
  • On October 6, 2025, the Audit Committee of the Board of Directors approved a $75 million common stock repurchase authorization.
  • The company provided a fiscal year 2026 outlook, projecting 6% year-over-year net sales growth (+/-10%) and Non-GAAP diluted earnings per share of $2.00 (+/-$0.25).
4 hours ago
Penguin Solutions Announces Leadership Changes
·$PENG
Management Change
Hiring
  • Penguin Solutions, Inc. announced leadership changes as part of an updated organizational structure intended to accelerate growth, support product innovation, and further enable go-to-market strategies, underscoring its transformation to an AI Infrastructure Solutions Company.
  • Tony Frey was appointed SVP and Chief Revenue Officer, effective August 25, 2025, and will oversee global sales for the Advanced Computing and Integrated Memory segments.
  • Ted Gillick was appointed SVP of Strategy and Corporate Development, effective August 4, 2025.
  • Pete Manca ceased serving as SVP and President of Advanced Computing on July 28, 2025, with his role eliminated in the revised organizational structure.
Jul 29, 2025, 12:00 AM
Penguin Solutions Refinances Credit Facilities
·$PENG
Debt Issuance
  • Penguin Solutions, Inc. completed a refinancing of its credit facilities on June 24, 2025, establishing a new $400 million Revolving Credit Facility that matures in 2030.
  • This new facility replaces the previous $300 million Term Loan A Facility due 2027 and $250 million Revolving Credit Facility due 2027, which were repaid and terminated.
  • The company repaid $300 million outstanding under the existing facilities by borrowing $100 million from the new facility and using $200 million in available cash, thereby reducing its funded debt by $200 million.
  • The initial interest rate for the new Credit Facilities is based on the Secured Overnight Financing Rate (SOFR) plus 1.75%.
Jun 26, 2025, 12:00 AM
Penguin Solutions Announces Proposed Redomiciliation to the United States
·$PENG
  • Penguin Solutions, Inc. has received board approval to redomicile its Cayman Islands parent company to the United States, a move aimed at streamlining its organizational and regulatory structure.
  • The redomiciliation plan involves exchanging existing Cayman Islands ordinary and convertible preferred shares one-for-one for common stock and convertible preferred stock of a new Delaware corporation, with completion anticipated in Q3 2025 pending shareholder and Cayman Court approvals.
  • Following the redomiciliation, the company’s common stock will continue to trade under the ticker PENG on the Nasdaq Global Select Market, reflecting its ongoing strategic focus in the U.S. market.
Mar 24, 2025, 12:00 AM