AI Earnings Predictions for Penguin Solutions Inc. Ordinary Shares (PENG)

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Exhibit 99.1

Press Release

FOR IMMEDIATE RELEASE

Penguin Solutions Announces

Fourth-Quarter and Full-Year Fiscal 2026 Results

Record Results Across Key Financial Metrics Reflecting AI-Driven Data Center Demand; Raising Fiscal 2027 Outlook Supported by Accelerating AI Infrastructure Business

Fremont, Calif. – October 6, 2026 – Penguin Solutions, Inc. (“Penguin Solutions,” “Penguin,” “we,” “us,” “our,” or the “Company”) (Nasdaq: PENG), the AI Factory Platform Company, today announced financial results for its fiscal fourth quarter and full year 2026 ended August 28, 2026. The Company also raised its outlook for its fiscal 2027 full year as compared to the preliminary view provided last quarter.

Fourth Quarter Financial Highlights

•Record net sales of $567 million, up 68% year over year

•Record operating income of $69 million, up 458% year over year

•Record Non-GAAP operating income of $90 million, up 129% year over year

•Record net income of $93 million, up 888% year over year

•Record adjusted EBITDA of $93 million, up 115% year over year

•Diluted EPS of $1.29 versus $0.11 in the year-ago quarter, up 1,073% year over year

•Non-GAAP diluted EPS of $1.00 versus $0.43 in the year-ago quarter, up 133% year over year

“Our company performance accelerated significantly in the second half of fiscal 2026 following the launch of our AI Factory Platform and increased focus on the data center market. We prioritized and aligned our AI Infrastructure and Memory businesses with strong AI-driven data center demand, increased investment in product innovation, and sharpened go-to-market execution with a focus on making neocloud and enterprise customers successful,” said Kash Shaikh, president and CEO of Penguin Solutions.

“The proof is in the results. After relatively flat year-over-year net sales in the first half, growth accelerated to 48% in Q3 and 68% in Q4, driving second-half growth of 58%. As we enter fiscal 2027, our memory business remains strong, and our AI Infrastructure business is accelerating further. Based on this continued momentum, particularly the strength in AI Infrastructure, we are increasing our fiscal 2027 expectations for both net sales and non-GAAP diluted EPS beyond the preliminary growth view shared during the third-quarter earnings call, as we continue to drive strong operating leverage across the business.”

Recent Business Highlights

Neocloud Momentum and Customer Expansion Across AI Infrastructure

•Won six new AI Infrastructure data center customers in the fourth quarter, including four neocloud providers, reflecting a surge in demand from neocloud customers for our full-stack AI Factory Platform.

•Continued to execute our land-and-expand strategy. Across fiscal 2026, we added seventeen new AI Infrastructure customers, and twelve customers expanded their business with Penguin in the same period.

•Won a neocloud customer backed by a leading South Korean technology company that selected Penguin to design, build, deploy, and manage an NVIDIA GB300 NVL72-based platform.

•Won a publicly traded neocloud customer with more than $3 billion in signed, multi-year contracts to provide AI infrastructure deployment and 24x7 operations services, supported by ClusterWareAI™, our AI factory operating system software.

•Won a neocloud customer with $10 billion in contracted compute from a leading AI lab. The customer selected Penguin to deploy and operate a 36,000-GPU AI factory in Norway. This multi-year engagement demonstrates the scale and capabilities of our AI Factory Platform.

•Won another neocloud customer, Lektra, which selected our AI Factory Platform to deploy and optimize distributed AI micro data centers powered by existing carbon-free energy. We provide validated reference designs, NVIDIA-based AI compute, and expert services with ClusterWareAI and support.

Key Product Innovation and Company Milestones

•Advanced ClusterWareAI with new self-managing agentic AI capabilities, building on the AI Factory Operations Agent introduced last quarter. ClusterWareAI now automatically detects and remediates GPU performance issues across inference environments, helping customers maintain higher uptime and reduce operational overhead as they scale AI workloads.

•Continued investment in new CXL memory expansion products to support strengthening bookings.

•Closed an oversubscribed $750 million convertible senior notes offering due 2031, with favorable economic terms including a 0% coupon.

•Established a new relationship with an additional AI Infrastructure supplier to improve component availability and support growing demand.

•Established a new supply arrangement with a leading memory supplier to improve supply availability and support growing AI-driven memory demand in the data center.

Fiscal 2026 Highlights

•Net sales of $1.73 billion, up 26% year over year

•Operating income of $166 million, up 185% year over year

•Record Non-GAAP o

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Exhibit 99.1

Press Release

Penguin Solutions Appoints Stephen Cumming as Senior Vice President and Chief Financial Officer to Support Accelerated Growth

Penguin separately reports fourth quarter and fiscal 2026 results with multiple company records and raises full year fiscal 2027 outlook

FREMONT, Calif. – October 6, 2026 – Penguin Solutions, Inc. (“Penguin Solutions,” “Penguin,” or the “Company”) (Nasdaq: PENG), the AI Factory Platform Company, today announced the appointment of Stephen Cumming as Senior Vice President and Chief Financial Officer, effective immediately.

“We enter fiscal 2027 with strong AI-driven momentum, meaningful operating leverage, and a clear strategy to scale our AI Factory Platform business,” said Kash Shaikh, President and CEO of Penguin Solutions. “We are pleased to welcome Stephen at this exciting time for Penguin. Stephen’s extensive public-company experience and track record of operational rigor will strengthen our executive leadership team as we drive disciplined execution, pursue durable, profitable growth and remain obsessed with our customers’ success.”

Cumming is an experienced public company executive with a track record of financial leadership across public and private companies in the infrastructure systems, software, services, and semiconductor industries, most recently serving as the Chief Financial Officer of Edgio. Cumming has served as CFO of multiple public companies and brings deep expertise in operational scaling, financial strategy, and investor relations.

“I am excited to join Penguin Solutions at this important stage in its growth,” said Cumming. “The Company has built a differentiated position at the intersection of data center AI infrastructure and memory, with a significant opportunity ahead as customers scale production AI. I look forward to partnering with Kash and the team as we aim to execute on this opportunity, scale the business efficiently with strong financial discipline, and help translate growth into sustainable earnings, cash flow, and long-term shareholder value.”

Prior to Edgio, Cumming served as Chief Financial Officer of Cambium Networks, a global provider of networking solutions, where he successfully led the company through its initial public offering in 2019. He previously served as Chief Financial Officer of Kenandy, Inc., a cloud-based enterprise software company. He also spent 21 years in the semiconductor industry, serving as Chief Financial Officer of Atmel Corporation, and holding senior finance leadership roles at Fairchild Semiconductor and National Semiconductor. He received his Bachelor of Science in Business from the University of Surrey and is a UK Chartered Management Accountant. With Cumming’s appointment, Aaron Johnson, who has served as Interim CFO since July 2026, will return to his role as Vice President of Finance and Accounting.

Fourth Quarter and Fiscal Year 2026 Conference Call and Webcast Information

In a separate release today, Penguin Solutions reported its fourth quarter and full year fiscal 2026 financial results. Management will host a conference call and webcast today, October 6, 2026, at 1:30 p.m. Pacific Time (4:30 p.m. Eastern Time).

Interested parties may access the call by registering online, after which they will receive dial-in information as well as a conference ID. The live webcast will also be available on the Penguin Solutions investor relations website, along with the related earnings press release and slide presentation.

Use of Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995 that are not historical in nature, that are predictive or that depend upon or refer to future events or conditions. These statements may include, but are not limited to, statements concerning or regarding future events and the future financial and operating performance of Penguin Solutions; statements regarding Penguin Solutions’ business momentum and market position; statements regarding the expected contributions of executive leadership appointments; statements regarding AI-related demand, customer pipeline, market opportunities, industry trends and product performance; statements regarding the Company’s strategy to scale its AI Factory Platform business, operating leverage, and ability to translate growth into sustainable earnings, cash flow, and shareholder value; and statements regarding the business and financial outlook for fiscal year 2027.

These statements can be identified by the fact that they do not relate strictly to historical or current facts.

Forward-looking statements often use words such as “anticipate,” “target,” “expect,” “estimate,” “intend,” “plan,” “goal,” “believe,”

“could,” and other words of similar meaning. Forw

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Document

Exhibit 99.1

Press Release

FOR IMMEDIATE RELEASE

PENGUIN SOLUTIONS REPORTS Q3 FISCAL 2026 FINANCIAL RESULTS

Delivers Record Quarterly Results and Raises Full-Year Outlook for Both Net Sales and EPS, Reflecting AI-Driven Demand

Fremont, Calif. – July 7, 2026 – Penguin Solutions, Inc. (“Penguin Solutions,” “we,” “us,” or the “Company”) (Nasdaq: PENG) today reported financial results for the third quarter of fiscal 2026.

Third Quarter Financial Highlights

•Record net sales of $479 million, up 48% versus the year-ago quarter

•Record Q3 GAAP operating income of $51 million, up 417% versus the year-ago quarter

•Record Q3 Non-GAAP operating income of $64 million, up 67% versus the year-ago quarter

•Q3 GAAP diluted EPS of $0.68 versus $(0.01) in the year-ago quarter

•Q3 Non-GAAP diluted EPS of $0.84 versus $0.47 in the year-ago quarter, an increase of 79%

“Penguin Solutions delivered a record quarter, exceeding expectations for both net sales and EPS. This profitable growth acceleration reinforces our confidence that our AI Factory Platform strategy is working. Integrated Memory net sales more than doubled year over year, and our AI Infrastructure business continued to build momentum, reflecting strong demand and execution across our memory and AI Infrastructure portfolio,” said Kash Shaikh, CEO of Penguin Solutions.

“We are seeing very strong AI-driven customer demand for memory and AI infrastructure solutions. As inference and agentic AI workloads become more persistent and context-rich, memory is increasingly becoming one of the primary performance and scalability bottlenecks. Penguin is well positioned at the intersection of memory and AI infrastructure to help customers address these evolving requirements. Given robust demand and disciplined execution, we are raising our full-year outlook for both net sales and EPS.”

Third Quarter Business Highlights

Customer Wins Across Integrated Memory and AI Infrastructure:

•Continued to execute our land-and-expand strategy, converting new customer wins into expanded commercial relationships across both Integrated Memory and AI Infrastructure.

•Integrated Memory: Across the trailing four quarters from Q3-25 to Q2-26, we added 16 new logos, and five of those customers subsequently increased their business with us.

•AI Infrastructure: Added four new AI Infrastructure customer logos in Q3. Across the trailing four quarters from Q3-25 to Q2-26, we added 13 new logos, and seven of those customers subsequently increased their business with us.

Key Technology and Market Leadership Milestones for Penguin’s AI Factory Platform:

•Recognized as Dell Technologies Global Alliances Americas AI Partner of the Year, highlighting Penguin’s role in delivering full-stack AI Factory Platforms that combine infrastructure software, advanced memory technologies, compute systems, and services.

•Became an NVIDIA AI Factory Specialized Partner, recognizing Penguin’s expertise in designing, building, deploying, and managing full-stack AI factory infrastructure for enterprise, sovereign AI, and neocloud environments.

•Expanded ClusterWareAI operating system software for AI factories with AI-powered operations. The new AI Factory Operations Agent provides administrators with a conversational interface using natural language queries. This agent is the first in a planned family of agentic AI-powered agents designed to automate AI cluster operations with a human-in-the-loop approach.

Raised Fiscal 2026 Outlook

Penguin Solutions is further raising its previously-issued improved financial outlook for full-year fiscal 2026, and as of July 7, 2026, expects both net sales and diluted EPS for full-year fiscal 2026 to be above the high end of its previously-issued outlook ranges. Supported by very strong agentic AI-driven customer demand across its Integrated Memory and AI Infrastructure businesses, Penguin Solutions now expects full-year fiscal 2026 net sales growth of 22% plus or minus 2%, full-year GAAP EPS of $1.97 plus or minus 5 cents, and full-year non-GAAP EPS of $2.60 plus or minus 5 cents.

Quarterly Financial Results

GAAP (1)

Non-GAAP (2)

(in thousands, except per share amounts)Q3-26Q2-26Q3-25Q3-26Q2-26Q3-25

Net sales:

Advanced Computing$137,583 $115,715 $132,498 $137,583 $115,715 $132,498

Integrated Memory275,067 171,629 130,124 275,067 171,629 130,124

Optimized LED66,063 55,655 61,629 66,063 55,655 61,629

Total net sales$478,713 $342,999 $324,251 $478,713 $342,999 $324,251

Gross profit$133,214 $93,702 $95,083 $134,750 $106,916 $102,753

Operating income50,863 25,689 9,843 64,384 45,254 38,474

Net income attributable to Penguin Solutions44,689 37,452 2,661 52,246 34,107 31,128

Diluted earnings (loss) per share$0.68 $0.58 $(0.01)$0.84 $0.52 $0.47

(1)GAAP represents U.S. Generally Accepted Accounting Principles.

(2)Non-GAAP represents GAAP excluding the impact of certain activities. Further information regardi