Penguin Solutions Inc 2023年度报告

AnnualReport2024 Solvingcomplexity.Acceleratingresults. EnablingOurCustomerstoHarnessthePowerofAcceleratedComputing Withovertwodecadesofexperienceastrustedadvisorstoourvaluedcustomers,PenguinSolutionsisanend-to-endsolutionsproviderhelpingsolvecomplexchallengesincomputing,memory,andLEDsolutions. PenguinSolutionsdesigns,builds,deploys,andmanageshigh-performance,high-availabilityenterprisesolutions,allowingcustomerstoachievebreakthroughinnovations. PenguinSolutions2024AnnualReport1 OurBusinessSegments PenguinSolutionsisdedicatedtosolvingcomplexchallengesin: IntegratedMemory OurIntegratedMemorysegmentenableshigh-performance,high-availabilitycomputingsolutionsthroughthedesign,development,andadvancedpackagingofspecialtymemoryandstoragesolutionsunder theSMASTModularTechnologies%brand.Productsincludedynamicrandom-accessmemory(DSAM)modules,solid-state/½ashstorage,andotheradvancedintegratedmemorysolutionscriticaltonetworkingandtelecom,dataanalytics,AI,andML.OurIntegratedMemorysegmentalsooffersSMASTSupplyChainServices,whichprovidescustomized,integratedsupplychainservicestoenableourcustomerstobettermanagesupplychainplanningandexecution,reducecosts,andincreaseproductivity. OptimizedLED OurOptimizedLEDsegmentoffersabroadportfolioofapplication-optimizedLEDsfocusedonimprovinglumendensity,intensity,efficacy,opticalcontrol,and/orreliability.Backedbyexpertdesignassistanceandsuperiorsalessupport,ourOptimizedLEDproductsenableourcustomerstodevelopandmarket LED-basedproductsforlighting,videoscreens,andspecialtylightingapplications.Thisbusinesssegment,whichoperatesundertheCreeLED%brand,hasbeenaleaderintheLEDlightingtechnologyindustryforover3Oyears. AdvancedComputing OurAdvancedComputingsegmentoffershigh-performance,high-availability,fault-tolerantintegratedcomputingplatformsandservicesforartificialintelligence(AI),acceleratedcomputing,machinelearning(ML),andtheinternetofthings(IoT)thatspanthecontinuumofedge,core,andcloud.WithinourAdvancedComputingsegment,wehavetwomainproductbrands—PenguinSolutions™andStratus%.OurPenguinSolutionsproductofferingsincludethedesign,build,deployment,andmanagementofadvancedcomputingsolutionsin(PCandAI.OurStratusproductbrandofferssimplified,protected,andautonomousfault-tolerantcomputingsolutionsinthedatacenterandattheedge. Putpeople first OurValues Driveprogress Ourcompanyvaluesinformourinteractionswithourcustomers,ourpartners,andourcolleagues.Welivethesevalueseverydaybyinvestinginour exemplifyingoperational workforce,championinginnovation,and excellence. Actwithpurpose Deliverresults ToOurValuedShareholders, 2024wasatransformativeyearforPenguinSolutions.WechangedourcompanynamefromSMARTGlobalHoldingstoPenguinSolutionsandadoptedanewtickersymbol,PENG,onNasdaq. Thesechangesaresymbolicofourtransformationfromaholdingcompanytoaninfrastructuresolutions providerfocusedonhelpingourcustomersmanagethe complsxityorartificialintslli®sncs(6I). Infiscal2O24,wssxpandsdourrolsasatrustsdpartnsrcommittedtoprovidinghigh-performance,high-availabilityinfrastructuresolutionsandsupportingourcustomersinachievingbreakthroughinnovations.Thankstothehardworkanddedicationofouremployees,weachievedanumberofkeymilestonesthattogetheradvanceourstrategicvisionandpositionusforlong-termgrowth,including: •Reinforcingourcommitmenttotheenterprisemarketbycompletingthemajority-stakedivestitureofourBrazilconsumermemorybusiness. •Enhancin®ourlsadsrshipin6I-rocussdsntsrprisssolutionsandfinancsbywslcomin®twooutstandin®leaderstoourteam:PeteMancaasPresidentofourAdvancedComputingsegmentandNateOlmsteadasChisrFinancialOrficsrorPsn®uinSolutions,Inc. •AnnouncingourplannedstrategicpartnershipwithSKTelecomtodriveglobalgrowthandinnovationinbothcomputingandmemory. (i®hli®htsrromourfiscal2O24financialpsrrormancs include: •Totalrevenueof$1.17billion. •Ssrvicssrsvsnusrsprsssntin®21%ortotalsalss(uprrom17%inFV2O23). •Recordfull-yearnon-GAAPgrossmarginof31.9%,drivenbygrowthinoursoftwareandservicessales. •Stron®fiscal-ysar-sndcashpositionorƄ389million,whichprovidss½sxibilitytoinvsstininnovationandgrowth. Weareenergizedbytheopportunitiesthatlieaheadandwillcontinuetodriveinnovationanddelivervaluetoourcustomersandourshareholders. BusinessSegmentsOverview OurAdvancedComputingsegmentremainsthecornerstoneofourgrowthstrategy,accountingfor47%orfiscal2O24rsvsnus.Lsvsra®in®oursystsmsdeploymentknowhowandourportfolioofhardware,software,andmanagedservices,wewereabletogrow ourcustomerengagementsoverthecourseoftheyear.Withourdeepengagementinthemarket,wecontinuetosssadoptionor6Isolutionsacrossabroadran®s orusscasss,includin®6I-csntriccloudcomputin®,advancsdonlins®amin®,oiland®asinnovations,and6Imakerspaceenvironmentsattop-rankeduniversities. Inthsarsaorproductdsvslopmsnt,wsarssxpandin®invsstmsntinandsmphasisonour6IinrrastructurssoftwareofferingssuchasPenguinClusterWareand6ssursdInrrastructursModuls(6IM),bothorwhichars MarkAdamsChisrExscutivsOrficsr dssi®nsdtosnhancsthssrficisncyandscalabilityor6I deployments. OurInts®ratsdMsmoryss®msntcontributsd3O%orfiscal2O24r