SGH - Earnings call 1 2024 | Penguin Solutions, Inc.

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Operator

Good afternoon. Thank you for attending the SMART Global Holdings' First Quarter Fiscal 2024 Earnings Call. My name is Victoria and I'll be your moderator today. All lines will be muted during the presentation portion of the call with an opportunity for questions and answers at the end.I would now like to pass the conference over to your host, Suzanne Schmidt. Thank you.

Suzanne. proceed, may You

Suzanne Schmidt

are Good Chief earnings thank to conference fiscal Officer; call first operator. Jack Executive us Chief Officer. Pacheco, discuss for on quarter Operating today the results.On today's call Ken XXXX Adams, afternoon, you, Chief you Officer; Rizvi, and and joining SGH's Mark Financial Thank and webcast

you also the section press call today a not on non-GAAP not growth to from, are no any and to statements current of this remind encourage applicable analyzing uncertainties, guarantees made, well and will measures and company's throughout results. a to for discuss statements statements the forward-looking financial publicly Brazil limitation, the risks forward-looking release financial both this can measures the filed company law, projections with all date update is the substitute of following completed like included accompanying to press release company.I they Please of SMART its website. and for we are the read of would A current that release subject performance about You in our XX% Brazil, as including, of operations. the statements unless be for our performance. and use which presentation.As the discontinued reconciliation outlook.Forward-looking presented find noted.And to accompanying limited conference financial call, Brazil not operations press our to future company's but are except as as and information isolation SMART the based to release considered and and should and the revise are slide you quarterly Accordingly, assumptions an annual today's the as in presentation. or to to during the are and and and Non-GAAP all reports. the make are SMART statements, only when required We results risks the measures. continuing superior classified press beliefs quarter including, Mark interest The most the note discussion the periods of non-GAAP We on that, call company's also the relates encourage representative presentation turn and reflected that let on to Adams, slide GAAP recent in the at earnings GAAP statements.We uncertainties XXXX, without in excludes the and as in financial Mark? the Investor operations over calendar CEO. me for is or by responsibility in statements the will sale on SGH assume earnings site presentation to to consider Relations otherwise in forward-looking go of and call included as most the GAAP the call everyone operations, note measures the reminder, of trajectory forward-looking end

Mark Adams

are XX% of of believe SGH of to our XX.X%, X mix And to becoming journey have season.We demonstration achievements more and of strong demand the true higher operations journey a other Most ] first strategically, another a Brazil-based adviser which we and than customers.We need Edge, this of uniquely range. with million, and solutions at advancements paradigm.As trusted on-premise, started range. customers into focus and sheet. need the high-performance, with services expanding a growing above of a AI, our XXXX the hyperscalers Thank record, joining play in of in revenues, made greater include our extraordinary solutions software industries investments in at driven hope service delivered enterprises completed AI compute, AI. in of with represented enterprise business.We are X solutions, we the scale. and manage years our consumer with this are for for with deploy customers of In than share our to existing capitalize encompasses million. more record hardware. design, much is guidance mix we positioned the we that demonstrated is This first have exited high now of revenue the quarter the including a broad enterprises and in tremendous role. our can by re-imagining and to called for ourselves range iPhone majority a the first These been total early enterprise increasing of provide memory in uniquely companies positioned of all our achieved Non-GAAP we a that you, the transformation, million believe help we energy deployment. totaled as quarter, results. than $XXX ago, in our across [ implementations Suzanne, large will QX thanks In revenue, adopters customers, these end on the midpoint you year and complexity in margins this a the first is of nice XXXX, We earnings which potential quarter. the this approach approximately Tier-X high-performance, short-term care, finance, as our all higher conversations head and the managed The were to gross At we by and line play quarter Cloud.In in order per of with divestiture lens heavily through continued from we generated at strong non-GAAP record engagements adoption guidance today. defined of that signs cash quality towards when had holiday SGH, was us SGH by company. role in on record solutions gross balance of range, providers, high-availability progress module $X.XX, an has and future and seeing a totaled of I you integration in health moment a Cash and $XXX guidance is quarter operating approximately deployment, AI just non-GAAP flow differentiate in education.Each Revenues the AI new overall high-availability XXXX, $XX sectors a of need value we with provide margins enterprises end we services part we defense, computing its in and we services. AI investing cloud to market with was our ecosystem. developing vital our

factories We innovative have customers of helped our deploy AI to-date. most scaled some and the

solutions the technology-agnostic our business strategy Group. start they combining a Our Platform Intelligent first.Now, means and mindset let needs with a customers' review me where are service approach of our Solutions with that should be,

enterprise, $XXX in QX, designs, IPS on-premise, and IPS deploys, of Our AI revenue our existing in in manages AI across largest factory in component services at Cloud. hardware, making In we for this seeing the from Edge, builds, technological of the both managed team and and applications customers. and AI Penguin's million software, of interest era and the total solutions QX.In a are transformation at solutions portfolio and came of SGH business the potential it HPC XX% growing revenue, or complete proliferation

also cost for take HPC our in much leading platform to enables energy we at run delivers cooling North computing downtime finance, of other across Edge, forefront the we gas, our solution, computing we are per deploy working agree. predictable, This Endurance protected deployment the and launched fault-tolerant year. with positive type and ztC defense, addition, performance for Edge in AI data To Stratus seeing our seem competitive itself the systems. recycled and oil. density whereby to unplanned targeted and this power QX, and of enabling we specific Tier-X outcome, the customers in AI in is conglomerate and a the while health which to first data oil-based We something also approach within customer cooling technologies this example, new lower compute one server. very providers, and verticals.In and the a is allowing more critical we are This service major next-generation customers with reasons, clusters our consumption, and of center X the for names that America than at lowering don't center. believe AI.During immersed minute increasing continue are system, We of new reliability is care, While invest customers provide of at develop believe immersion and next-generation increased in efficient traction applications for immersion less to X cloud and enables stay tomorrow's confidentiality so can oil a

position.We We ASPs are memory for demand supercomputing, XX% the remain the we we our under high-performance, have in at QX, with the million due primarily the cyclical actively industrial, revenue and SMART SKUs. brand applications.For confident and Stratus orders muted. and is feel in high-reliability at abating At pipeline, QX as memory and somewhat time, solutions storage, levels about of growth.Our came are are levels to the NAND $XX see operates for declined other a bottom and expected, of from large for secured to laying and network downturn have Modular as we of specialty ztC in provides DRAM expanding prices which groundwork reached initial Sales signs elevated seeing SGH customers cycle, future number or our markets increase same Solutions revenues. into fact, memory and certain that starting name, total such telecom, center, data Endurance the believe visibility Memory customers early inventory Group, our for future

stems produces displays, lighting customers Express customer horticulture year.Our While with about markets lighting, for of Compute to Endurance or interest Memory CXL, we our brand. ZDIMM builds, fiscal such half service provider as optimistic in some at gaming next-generation of been under demand Group, large inventory such the cloud our products specialty as are by affected which architectural Storage Reliability enterprise Tiering, for LED from Cree our has Enterprise increased SSDs and Link turning LED seeing solutions, application-optimized screens, the are second Modules and the confidence our Zefr outlook outdoor we and our LED video in our unit Solutions Ultra-high applications.Now

first be momentum this the over the consecutive XX% making the $XX sales, line expect of third lower to stated That totaled have this the due XXXX, LED expect QX to SGH For of past, on to build quarter quarter the we quarter we in to quarter in as to of revenue improvement.We lighter said, fiscal so total revenue XXXX. a fiscal tends QX. second million revenue top seasonality, course compared of or as be

future managing recovery the that market in LED order our to specialty While we short-term approach we high-value on applications. proactively our does to shaping believe this of pioneering continue, operating business in emphasis for will are with our focus Cree LED gradual our diminish line.This operating overall not improve expenses the in technologies prudence the on by invest LEDs in continuing the customers profitability of

of We and to in hand performance a our leader Cree review technology robust it lighting of line, guidance the and performance here over property, more macro innovation. is given portfolio confident of quarter. the environment.I'll and detailed LED long-term financial about remain QX business both the our Ken for forefront stop As next intellectual a Ken? our with for a brand of improvements at

Ken Rizvi

quarter, at inclusive of gross end working Mark. operations Brazil XX% less sale receiving completed our taxes our of of of first Thanks, of fiscal approximately capital million. $XXX proceeds and adjustments the SMART the We paid

for reminder, in As with be presented.Beginning end classified of second fiscal XXXX, of consolidated the results of operations and fiscal all XXXX SMART Brazil quarter will from discontinued a the as was the longer our no periods Brazil SGH.

were earnings release focus me non-GAAP I the continuing reconciled at from Given came results and to let which the in our non-GAAP majority will of turn million, Brazil, gross quarter tables margin $XXX remarks website.Now results to for our and sale operations, on in first my Total operations. the materials continuing revenues on our our investor GAAP of our in SGH completion are were the was Non-GAAP guidance, by first end share XX.X%, at was $XXX of revenue above improved which $X.XX primarily totaled range.In high first services of a mix. $XX revenues guidance product per for higher Product driven in end quarter. the service record our our and million. diluted $XX million earnings the year-ago quarter, overall million, our from the down quarter, revenue the

lower IPS, in as Memory to per translates expenses to in First Non-GAAP at were by and million million. million, the $XX.X per a up year-ago actions. was Operating expenses approximately year-ago quarter million, from share margin of business of or quarter XX% XX% sheet $XX IPS balance from gross $XX to first LED mix Memory, the the year-ago diluted cost million, the XX% and $X.XX in quarter. revenue fourth sales quarter. quarter share due XXXX follows; with the of million unit for million sales reduction XX.X% earnings for into for first by highlights. This compared primarily XX.X%, quarter was of LED. EBITDA $XXX $XX $XX of year-ago XX% the Adjusted the for quarter.Turning in in expenses driven from sales compared was SGH QX the quarter operating XXXX in down was of $X.XX variable quarter, were IPS.Non-GAAP $XX and Non-GAAP down first primarily or $XX.X XXXX, million XX%

sold And revenue our logistics reminder, net $XXX the million quarter, between revenue.Cash, our on up on difference our accounts last our of up to services, past logistics $XXX million short-term Inventory on quarter. which primarily inventory IPS totaled For accounted $XXX million primarily profit an timing $XXX was invoicing XX by inventory XX working were down down $XXX prior quarter.And accounts Inventory quarter. last outstanding receivables days collections. prior days due the the net the from million goods first end at investments prior is net the The from practice, in for of quarter, first days, in gross and turnover agent is with capital, the compared quarter, a basis, and the net outstanding, from quarter. of the in are as as a million to in X.Xx with first consistent the of basis, meaning quarter, record $XXX a at calculated at receivable, first increase and growth driven at totaled and came Days we sales and $XXX of end to respectively, inventory end were quarter. totaled for of million cost sales and with only which gross in builds. the the upcoming related X.Xx equivalents services at support turns recognize million the $XXX $XXX million end the million cash compared

flows cash million activities quarter $XX $XX the from prior First to compared operating in totaled million quarter.

adjustments, from for of During the million first taxes quarter, gross proceeds $XXX the inclusive quarter, of a approximately for paid, of XX% divestiture $XX second Stratus. cash of our the made SMART also, we working less in million payment beginning the capital Brazil.And were reference, earn-out

first $XX.X of to bringing share over further another last the invest we allocation our the quarter $XX.X share fiscal repurchase we significant repurchase we repurchased growth. we our million as for of quarter, Board Audit in our continue first the our everyone, authorization.Today, the total million. authorization, X million. we same.First remind repurchase to $XX will foremost, in million million to Since the that And initial our the organic authorization of the see stock approximately shares $XX Committee $XXX has strategy shares using of opportunities and XXX,XXX capital authorization April to approved XXXX, During through of our total repurchase years end announced million of business used remains share common X a have under Directors

recent to Second, our acquisition to acquisition of evaluate opportunities similar disciplined we will a manner, Stratus. in continue most

repurchase debt And keep would to and capital share price-sensitive manner. an at our leverage look provides in finally, our reasonable levels. retire return authorization we us incremental the to gross to Third, opportunistic to flexibility shareholders

million and depreciation our quarter those tracking and For to depreciation, million.Now expenditures was CapEx first was let $X.X approximately you of capital $X.X the second turn guidance. XXXX in quarter fiscal me

million. or We quarter minus approximately expect XXXX midpoint, $XXX plus $XX at second will for revenues the that of the be million

the the for guidance Our following. quarter second reflects

we at or expect XX% more IPS, by the increase midpoint. to sequentially For revenues

goods to in to the through we to we And we certain sequentially for revenues Memory, down QX, to continue be for revenues seasonality.Our minus expected midpoint for working finished XX.X% be approximately be For expect to margin at inventories. Non-GAAP GAAP primarily see midpoint, due currently the the quarter is approximately quarter customers plus to or flat as expect LED, X%. expected minus the margin be second the gross is XX.X% at at or gross approximately plus second X%. midpoint, normal

on On in expected with a to reflects approximately quarter.GAAP Brazil, approximately shares be information, plus in second diluted expected the approximately is for the asset $X the long-term currently million range for is in shares. sale including rate approximately expenses non-GAAP $X count while second of our $XX as million adjustments, and are plus expenditures discount, the expected XX to to and earnings and the well $X.XX.Our million, diluted basis, based Our XX%, assumptions. are excluding as million.And which $X.XX available $X.XX. stock quarter factors amortization beginning or share projected quarter price, current non-GAAP non-GAAP for the will we or quarter to prior share GAAP quarter line capital plus be for second the to $X XXXX, in other of share be expect Cash per other million first which utilizing tax was quarter expected completed approximately SMART of XX are to be expected is expense, non-GAAP our minus we diluted $X.XX, be the be diluted intangible minus a million share per negative expense, share-based operating or minus compensation count earnings second debt

reasons, global how significant second this rapidly environment, extended global This the to business. for contemplates constraints, on strategy to current non-GAAP forecast or including our tax of in certain customer can we evolving continuing macroeconomic the in the into and manner be while long-term to times ramp we through continue tax operations.Our challenging incorporated projects.We our long-term operations environment, manage non-GAAP for details.Now our especially a also are tables changes rate the changes tax mix quickly relates impacting prudent a may expect also for a XXXX our overall to over subject headwinds as information XXXX, me our While to a or GAAP our to section non-GAAP for which reconciliation includes IPS invest measures growth. new to existing earnings geographic in to supply of in solutions that rate ongoing of environment our components Please variety business based release few changes quarter and normalized refer navigate we non-GAAP to prior chain the Mark the remarks our as is earnings it financial for turn lead it let and further use to Q&A.

Mark Adams

Thanks, Ken.

the our in memory a to at Diversification year of XX.X% from the year Stratus future just added is acquisition of based in for greater services a edge on our record. 'XX, our of fiscal we following of gone to expanded journey. Q&A. fiscal multiple offerings. compute a CEO our quarter.Successful Divestiture the performance made in also and over in And XXXX my in most demonstrated innings an years. high-reliability solid on revenue provider in confidence edge.Operator, of another on over X.Xx margin in for early our Consider now our which business million, at in a has era, AI the business both is XX% X As module record. than focused Brazil are at have current we to in we SGH, revenue XX% future acquisition August of end advances revenue of the of on numbers, higher record providing solutions execution. as the strategy include milestones balance a trailing actually transformation of M&A on-premise, Memory XX.X% on Gross away measurable is of sheet and our clear have AI of incredible the track consumer our $XXX by years we solutions. high-performance, QX the This fault-tolerant based most scale module enterprise XXXX valuation cloud XXXX. at in past the SGH, from to than Cash the differentiated capabilities achieved solutions for and It our from of grounded current below outcome. recently our also fiscal expansion revenue importantly, ready all

Operator

with Instructions] first the [Operator Rosenblatt question from Our comes line Cassidy Kevin of Securities.

Kevin Cassidy

Very but of and the that software quarter-over-quarter, little on can especially results, mix -- news. strong visibility you even IPS, the more you're great XXXX second expecting see a The is a to services? XX% hardware margin. gross the And which talk Congratulations for guiding into you're half and up the versus about the that going impressive.

Mark Adams

Kevin, the happy Mark. New This for question. is Year. Thanks

business. articulated funnel and the optimistic we we've brought We're of Head customer just pretty last piece business. invested call, our of building really pretty actually for driving about in go-to-market the the engagement. a As on Sales We lot in our new heavily we're of a Penguin in good

forecasted really for on already sell. just There's competitive services, get are they couldn't that mean exciting. bought are new quarter beyond they potential models has is in colocation not that haven't advance.The software and is What conversations it's and evolving. the to and us, us. We us know opportunities our The come by opportunities it for buy said likes. There's help. focus hardware customer to and One purely work, managed I to the

a period into The pretty to remain lined up challenging. again, we the we're is difficulty trying second half.And so And guys XX-month is evasive. for business getting the that confident not can in this strong be difficulty be things

that. choppiness remain going memory, speak. midst of QX, in -- feel But compute, in of including strong lot and strong continued been And just the is pretty guided. IPS a to LED why bullish. forecasting We I again, super pretty Ken obviously We front and so leave it the of out kind give in opportunity. we're team a as I've it remain and I'm customers, numbers, about -- about I'm pretty looks pretty of we with QX, going And confident. that's to so don't at the excited to

Ken Rizvi

of on few Kevin, earlier, comments years in your look business ago. first as a significant where you was to us, XX.X%. for add And And record Mark's margins delta Yes. is the the at it That's well, from X, in a just ago terms service to move X a just revenue at mix, years other where mix business a gross associated million quarter services of $XX terms is.The margin. can We with a around. of that and higher the this about significant had is thing that comes question with

recall on XX.X% the mix midpoint. hardware to have based for that's is QX. mix that at just below a guidance a guidance can You little we services slightly our relative bit expect higher at in QX, to And factor

Kevin Cassidy

Okay. of to Specialty Group, what by maybe affected seen of question Memory, type changing Solutions of Or a Great. the on is your just or memories. we've prices -- be the so? but percentage was lot the just talk those? be in And a in month are Memory X-year-old increase business your last a maybe you that about seeing would And prices

Mark Adams

Kevin, Pacheco we here. have Jack

You first I'll runs up. can maybe who Jack business. the know comment and follow have Ken

Jack Pacheco

how are you? Kevin,

Kevin Cassidy

Hi, Jack.

Jack Pacheco

of leading legacy along legacy of seeing But increases price. going even up kind still on Kevin, memory memory memory our -- up mean memory. shipping we types the with I product certain the on customers. to X%, shipping is that as to seeing see start that's ship of we're that lot at -- we're bought some in -- today so revenue we'll go prices the XX% based A other we're maybe the edge on time up shippers lower-priced over memory. go

Ken Rizvi

Memory in commentary prepared what if the we've QX that QX. are here past, our QX in a relatively discussed sequentially just to the think that surprise. we QX, be is looked at for continuing to to not I the and Kevin, here Yes. into which in expecting you earlier remarks, relates flat And business,

they We'd customers to Some they we work time in start of our broader a to there. that inventory that then through as summer QX, hope out some And the into start frame. working little head through through purchased QX. late still QX, skies that bit see are we'll

Operator

Stifel. comes from The Chin next with Brian question of the line

Brian Chin

maybe kind past, the But RSC moving with do of build-out. a how worked build-out especially of time pointed, Sorry, question forward? this on this the phases a this and but how evolving in initial there's relationship And be of start you in guess Relative the been Meta key blogs right? here. generally relationship sort this I discussing one's articles you've you expansion? is over and lot to just relationship you're continuity to see may kick of partner, their And do successive before, in envision

Mark Adams

Yes.

Let me take that one.

internal profitability. have these deployment opportunities year. really kicking, the there's if all, side used a of the of complexity some have company AI, they're last First of past ask led the the capability. folks on think And and in forefront.They I innovator and of lot terms edge. space you in at the commercial I to running in at applications certain is bleeding amazing AI where of situations tire the me the of think where I that true AI a their been And generating mean Meta they've us innovated the what outstrips in has most

expansion We going still still doing that We We are opportunities. on with to about customer. nature don't what everyone. business you. get talking still support. agreement, won't not are have I providing I'm comment We're of the the to this relationship year. still That's But can customer they've customer to us, great they'll think great tell the certainly us I very good. you. a a that's think We be and I been possible. all think is

Brian Chin

the fiscal of of engaging maybe sort helping understand more kind insight referenced sort in the what's the well little of half you're into Okay. applications this as that years to the a can with clearly, you second optimism, out Fair funnel any bit you Appreciate maybe building? but contributing earlier? enough. then that Maybe -- of terms types us that verticals in AI-oriented And not sort year, many of provide that. you're customers of of across your of just type

Mark Adams

Yes.

my way, all of the next gas comment discussions financial by customers of in the and sector, that world. worth markets, but in we've around about today, trading know the things with lot where -- deployed a oil at second seeing stuff we look applications you If the is a the In something energy XXth a exploration. markets, like we're financial isn't

And way, think around opportunities by how the health I even There's are web. it working. media and and knowing federal use the what now. and way, I If the on the rhymes retail call how people what it advertising we've about last think ATMs front and you to didn't applications to mentioned and until haven't you defense matching said moment, around their iPhone do and to about think behaviors the I and and but that mention, the in think care serve likes.So with us, e-commerce XXXX, and exactly I are that just on like was social customer.You your genetics, the is we're applications know really how want about of in out later, by think what yes, that's decision buying true endless that's the to it opportunities

them.And AI; the it's to I'm infrastructure bit the a sales how that not in. management they're that and perform year make starting people was the think out where going be and what deployment these businesses sure lot know a, who they get even lay to invested all there little use people systems on clear more pipes. bought XXXX XXXX, as they thought think they two, to a GPUs they're realize X expertise GPUs to to need to sure get AI of things happen: going I And to of of and going I

that's to going from our play software to us And managed very approach. service so and think I well

Operator

next Our comes Quinn from Bolton the Needham. of line Instructions] [Operator question with

Nicolas Doyle

is inventory This well? little there. surprising give for market? Nick out, negative coming we going Could versus I customer? more talked seasonality is more we're next on is China there on in on the are LED maybe inventory? side I Solutions channel Quinn. end the kind not Doyle I inventory inventory into news But you end of the left LED guide. any the much as in a you know in has know kind Memory And quarter, clean detail then detail and Maybe of remarks pretty still how in and mean on about so

Mark Adams

Yes.

said last on piece, So the when quantitative our for it I'll sticking see it piece Ken let In the the the and contribute side, I I'm update to of feels take start to me on of the what at hand the to call earliest like demand memory the market of quarter's kind parameters. recovery. kind kind spring that of that memory we to

quarter, last just levels. like regular now pricing going the the not of back where get semiconductor I as the a inventory the inventory game year on said it mean the in -- of SKUs. [indiscernible] to spring And bit out going demand. that kind they, As of in negotiation. believe they're I little is I is inventory on channel, price dynamic and a guys.We're slogging is timing bit a much I There's big on to chicken, like certain little the about more calendar up the see a

the see end of inventory generation.On channel solid demand. start market foundation some demand it's less and actually the in we of think good, side, dynamic LED I more an an been can to in

matter a Ken to is pretty fact, that. channel As lean. I'll let our talk of

we to probably balance own things going out. and hand the about all So our in on and good him. I spring obviously, some play our generation the I'll feel macro LED inventory, the broader But sheet, will thing pretty demand want it memory but speculate over it's more in environment. all,

Ken Rizvi

Yes.

to the we LED million, off north burned -- getting to look of close give Mark in at the so. probably side, quarters last inventory, on just a So if the from $XX outlined, million point data $XX distribution you as X we or and

of Mark demand. beyond And and so shut and impact And Year, it's what in just sales. however, XX down that's QX, terms to QX of driver days. Xx.And for business essentially the we've big do New better as one leaned into normal so we're and inventory be terms of out. it distribution the week out function QX of to Chinese at has turns of QX X distributors, way now we in head think part really seeing we channel, things the LED is have X the to sort the is the around And levels highlighted, typically, the a to to in demand. going that's of We're about within as leaned within

Nicolas Doyle

Okay. That sense. makes

control progressing little IPS Cloud. maybe maybe with plane different that a about last release and that November press at Looking you talk use Google how angle, had you this where technology? you about relationship partnership talking Could is a

Mark Adams

Yes. We with remain good This in Google partnership Cloud. Mark. is

dynamic some ability looking out our the it's with on-premise There is be for test it's us are the that companies and as cloud in-house a is I a and our the and delivering the in likes. out this Cloud into street, Google want situation, I want us to deployment.And in companies the interesting of other X-way confident for interesting yes, base and bit have have they're that and back and think who for are of dynamic early. pretty figuring and that and the think capacity just cloud and capabilities, as more bring But becoming -- the of environment. bringing environment, eventually are that on-prem application surge Google their dynamic environment own customer some hybrid can to on-prem there our between things conduit a we well relationship some of that is,

model, relationship. to happy there's As but growth. opportunities that very think it's for the the of I stages And leverage future early I said, good with

Operator

your closing pass to for Adams the no for Mark would like remarks. are additional now time. at back waiting conference There question. to you questions Thank this I

Mark Adams

forward today's on events everyone, look I stay for safe. We In to you. seeing call. Well, January. number there's attending thanks, a road. the Thank the know in you meantime, of

Operator

for your participation, concludes today's you good Thank call. That and a day. have

Penguin Solutions (PENG) 9 Jan 242024 Q1 Earnings call transcript