Penguin Solutions (PENG) Q4 FY2026 earnings: revenue $567 million, up 67.7% on the year

Penguin Solutions, Inc. (PENG) reported revenue of $567 million for Q4 FY2026, the quarter ended 28 August 2026, up 67.7% on the same quarter a year earlier. Net income was $93 million, up 888.3% on the year, and diluted earnings per share $1.30. The figures are the company's own, from the 10-K it filed with the SEC on 20 October 2026.

Revenue$567 millionup 67.7%

Net income$93 millionup 888.3%

Diluted EPS$1.30

QuarterQ4 FY2026ended 28 August 2026

What management said

Guidance figures: 2 raised, 5 new.

Fourth-quarter sales rose 68%: Net sales were $566.7 million, up from $478.7 million in the third quarter and $337.9 million a year earlier. GAAP operating income was $69.5 million, against $12.4 million a year earlier.
Growth accelerated in second half: Management said first-half net sales were relatively flat year over year, then grew 48% in the third quarter, 68% in the fourth, and 58% across the second half.
Per-share earnings rose sharply: GAAP diluted EPS was $1.29 in the fourth quarter against $0.11 a year earlier, and non-GAAP diluted EPS was $1.00 against $0.43. Fiscal 2026 GAAP diluted EPS was $2.60.

Read the earnings call summary

The quarter, against the one before and a year earlier

Line	Q4 FY2026	Q3 FY2026	Q4 FY2025	Change on the year
Revenue	567	479	338	+67.7%
Cost of revenue	411	345	241	+70.3%
Gross profit	156	133	96.7	+61.2%
Gross margin	27.5%	27.8%	28.6%
Research and development	22.0	22.0	19.9	+10.9%
Selling, general and administrative	59.9	59.4	58.6	+2.3%
Operating income	69.5	50.9	12.4	+458.0%
Operating margin	12.3%	10.6%	3.7%
Pre-tax income	37.4	53.7	9.4	+300.0%
Income tax	-57.6	7.5	-1.2	n/a
Effective tax rate	-153.9%	14.0%	-12.8%
Net income	93.2	44.7	9.4	+888.3%
Net margin	16.4%	9.3%	2.8%
Diluted EPS	$1.30	$0.68	$0.10	+1200.0%

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow and capital returned

Line	Q4 FY2026	Q3 FY2026	Q4 FY2025	Change on the year
Operating cash flow	-163	-74.8	-70.4	n/a
Capital expenditure	4.3	2.8	2.9	+46.1%
Free cash flow	-167	-77.6	-73.4	n/a
Free cash flow margin	-29.5%	-16.2%	-21.7%
Cash from investing	-5.0	36.2	22.4	n/a
Cash from financing	337	27.7	-208	n/a
Depreciation and amortisation	12.3	12.4	13.7	-10.0%
Share-based compensation	6.6	10.0	7.8	-15.3%
Buybacks	5.5	11.8	3.1	+79.9%
Diluted shares, weighted	64m	55m	54m	+17.8%
Shares outstanding at period end	60m	51m	53m	+14.1%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

Line	Q4 FY2026	Q3 FY2026	Q4 FY2025	Change on the year
Shareholders' equity	521	439	394	+32.1%
Non-controlling interest	16.4	14.6	11.3	+45.9%
Redeemable equity	203	203	203	+0.0%
Debt	789	443	462	+70.8%
Operating lease liabilities	57.9	59.3	62.7	-7.7%
Other liabilities	1,191	1,032	484	+146.0%
Total liabilities and equity	2,778	2,191	1,617	+71.8%
Fixed assets	84.2	85.2	92.6	-9.0%
Goodwill	146	146	146	+0.0%
Intangible assets	59.9	66.5	87.8	-31.8%
Investments	n/a	n/a	0.0	n/a
Cash and equivalents	647	440	454	+42.6%
Receivables	796	n/a	308	+158.6%
Inventory	749	498	255	+193.4%
Other assets	296	955	274	+7.9%
Total assets	2,778	2,191	1,617	+71.8%

Questions

What was Penguin Solutions' revenue in Q4 FY2026?

Penguin Solutions (PENG) reported revenue of $567 million for Q4 FY2026, the quarter ended 28 August 2026, up 67.7% on the same quarter a year earlier.

How much did Penguin Solutions earn in Q4 FY2026?

Net income for Q4 FY2026 was $93 million, up 888.3% on the year, and diluted earnings per share $1.30.

When did Penguin Solutions report Q4 FY2026 results?

Penguin Solutions filed its 10-K for the quarter ended 28 August 2026 with the SEC on 20 October 2026.

Quarterly results, the last 20 quarters

	Q1 FY2022 †	Q2 FY2022 †	Q3 FY2022 †	Q4 FY2022	Q1 FY2023 †	Q2 FY2023 †	Q3 FY2023 †	Q4 FY2023 †	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024	Q1 FY2025 †	Q2 FY2025	Q3 FY2025 †	Q4 FY2025	Q1 FY2026	Q2 FY2026	Q3 FY2026	Q4 FY2026
Revenue	356	328	349	362	392	388	344	317	274	285	301	311	341	366	324	338	343	343	479	567
Cost of revenue	348	336	348	334	280	277	244	225	191	203	212	224	243	261	229	241	247	249	345	411
Gross profit	102	94.3	101	94.4	112	111	100	91.6	82.8	81.9	88.9	87.1	97.8	105	95.1	96.7	96.1	93.7	133	156
Gross margin	29%	29%	29%	26%	29%	29%	29%	29%	30%	29%	30%	28%	29%	29%	29%	29%	28%	27%	28%	28%
R&D	17.7	18.8	20.3	20.6	24.1	26.7	22.2	17.6	21.4	20.5	19.7	19.9	19.8	19.9	20.2	19.9	18.7	19.0	22.0	22.0
SG&A	52.5	53.1	58.5	55.6	67.7	60.1	67.9	65.0	57.2	61.4	57.2	58.0	60.5	59.3	59.7	58.6	53.1	48.0	59.4	59.9
Operating income	16.4	1.6	26.2	23.1	14.8	-2.1	-2.4	-1.6	1.3	-3.3	11.5	8.8	17.4	18.5	9.8	12.4	19.6	25.7	50.9	69.5
Operating margin	5%	0%	8%	6%	4%	-1%	-1%	-1%	0%	-1%	4%	3%	5%	5%	3%	4%	6%	7%	11%	12%
Pre-tax income	28.5	10.6	29.6	19.8	7.7	-24.8	-12.1	-10.4	-7.7	-10.8	4.9	-17.6	12.3	16.5	10.7	9.4	7.9	53.0	53.7	37.4
Tax rate	27%	72%	17%	-3%	147%	n/a	n/a	n/a	n/a	n/a	-27%	n/a	52%	46%	68%	-13%	23%	27%	14%	-154%
Net income	20.0	2.5	24.1	20.0	5.0	-27.2	-24.5	-141	-19.9	-13.6	5.6	-24.5	5.2	8.1	2.7	9.4	5.3	37.5	44.7	93.2
Net margin	6%	1%	7%	6%	1%	-7%	-7%	-44%	-7%	-5%	2%	-8%	2%	2%	1%	3%	2%	11%	9%	16%
Diluted EPS	$0.36	$0.04	$0.44	$0.01	$0.10	-$0.55	-$0.50	-$2.70	-$0.38	-$0.26	$0.10	-$0.46	$0.10	$0.09	-$0.01	$0.10	$0.04	$0.58	$0.68	$1.30
Operating cash flow	15.1	32.2	36.7	20.9	-74.0	101	41.0	36.8	31.5	-21.9	79.8	-12.2	13.8	72.9	92.8	-70.4	31.1	55.0	-74.8	-163
Capital expenditure	12.8	7.4	9.2	8.9	11.6	12.6	13.3	1.9	4.6	5.2	3.8	5.8	1.8	2.3	1.9	2.9	2.9	1.6	2.8	4.3
Free cash flow	2.4	24.8	27.6	12.1	-85.6	87.9	27.8	34.9	26.8	-27.1	76.0	-18.0	12.0	70.5	90.9	-73.4	28.2	53.3	-77.6	-167
Buybacks	2.7	0.2	13.9	40.4	4.7	11.6	0.7	7.8	13.1	2.7	2.1	3.3	11.1	6.5	31.6	3.1	20.2	36.9	11.8	5.5
Shares outstanding	49m	50m	50m	49m	49m	49m	50m	52m	52m	52m	53m	53m	53m	54m	52m	53m	53m	51m	51m	60m
Filing	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K

Each quarter as filed, linked to its filing.

A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless. EPS is as filed for each quarter. A split or a bonus issue changes the share count, so quarters before it are on the old count.

10-K for the period ended 28 August 2026, filed 20 October 2026: the filing.