Penguin Solutions reported its financial results for the first quarter of fiscal year 2025, revealing an adjusted earnings per share (EPS) of $0.49 and revenue of $341.10 million. The company also reported a net income of $5.22 million under GAAP and $26.52 million on a non-GAAP basis, a recovery from a net loss of $11.77 million GAAP and $12.54 million non-GAAP in the same quarter last year. Notably, the Advanced Computing revenue experienced a year-over-year growth of 49%. In addition to its financial results, Penguin Solutions announced a collaboration agreement with SK Telecom and SK hynix focused on AI data center solutions, which was unveiled at CES 2025 in Las Vegas. Following these announcements, shares of Penguin Solutions rose by approximately 12.1% in trading.