Business Context and Reporting Period
Penguin Solutions, Inc. (formerly SMART Global Holdings, Inc.) filed this Form 8-K on October 15, 2024. The filing announces the Company's financial results for the fourth quarter and full year fiscal 2024. Additionally, effective October 15, 2024, the Company officially changed its name and ticker symbol from "SGH" to "PENG" on the Nasdaq Global Select Market.
Key Financial Metrics
The filing text does not provide specific numerical values for revenue, profit, cash flow, margins, debt, or liquidity. These metrics are contained within the press release attached as Exhibit 99.1, which is incorporated by reference but not detailed in the body of this 8-K. The Company utilizes non-GAAP financial measures in its reporting, with reconciliations to GAAP measures provided in the attached press release.
Material Changes
- Corporate Name Change: The Company changed its name from SMART Global Holdings, Inc. to Penguin Solutions, Inc.
- Ticker Symbol Update: Trading ceased under "SGH" and commenced under "PENG" on the Nasdaq Global Select Market.
- Governance Updates: The Third Amended and Restated Memorandum and Articles of Association were filed to reflect the name change, eliminate obsolete provisions, and incorporate non-substantive changes.
Guidance, Outlook, and Risks
The filing references a press release and conference call for detailed financial results and management commentary but does not include specific guidance, outlook figures, or risk factors within the text of this 8-K. The Company notes that the information furnished pursuant to Item 2.02 is not deemed "filed" for purposes of Section 18 of the Exchange Act.
Investor Verification Checklist
- Review Exhibit 99.1 (Press Release) for specific Q4 and full-year fiscal 2024 revenue, earnings, and cash flow figures.
- Verify the reconciliation of non-GAAP financial measures to GAAP measures in the attached press release.
- Confirm the new ticker symbol "PENG" is active on the Nasdaq Global Select Market.
- Examine the Third Amended and Restated Memorandum and Articles of Association (Exhibit 3.1) for details on governance changes.