HIGHOutside partyCustomer
56%
ten largest end customers
“10-K Item 1A: 'sales to our ten largest end customers (including sales to contract manufacturers or ODMs at the direction of such end customers) accounted for 56%, 66% and 58% of net sales'”
PENG · Concentration risk · 10-K extracted
Penguin Solutions (PENG) concentration risks
Updated
The most significant concentration Penguin Solutions discloses is ten largest end customers at 56%, classified HIGH by disclosed size. Below: the full set from the latest 10-K — verbatim quotes, filing references, and a synthesis of what these exposures mean together.
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Source: Penguin Solutions’s SEC Form 10-K filed — view the filing on SEC EDGAR ↗
At a glance
Disclosed-size breakdown · 3 disclosed concentrations
HIGH2
MEDIUM0
LOW1
Disclosed concentrations
Each card carries a disclosed-size chip (HIGH / MEDIUM / LOW — how large the exposure is as a share of revenue, not how dangerous it is) and a nature tag: Built-in(the company’s own model, geography, or products) or Outside party (an external customer, supplier, or distributor it relies on).
HIGHOutside partySupplier
sole or limited source suppliers
“10-K Item 1A: 'We depend on a small number of sole or limited source suppliers.'”
LOWOutside partyCustomer
20%
one Integrated Memory customer
“10-K Item 1A: 'In 2026, one Integrated Memory customer accounted for approximately 20% of our net sales'”
TrendMatrix Research · concentration synthesis
What these concentrations mean together
updated 2026-11-01Penguin Solutions is heavily concentrated on the customer side. Sales to its largest end customers accounted for 56% of net sales, a high-share dependency, and the filing's comparison figures of 66% and 58% show that the share has stayed elevated across the periods presented. Within that, one Integrated Memory customer accounted for approximately 20% of net sales, a low-share but counterparty-specific exposure that could swing results if the relationship changed. On the supply side, the company depends on a small number of sole or limited source suppliers, also a high-share dependency. Customer and supplier concentration compound each other: a shortfall at either end could constrain a business with little diversification in between. Netting these out, the end-customer concentration is the structural feature most likely to move the verdict, while the single Integrated Memory customer and the sole-source suppliers are the idiosyncratic, relationship-driven risks layered on top.
For the engine’s reasoning on PENG’s current verdict — including which dimensions drove the score — see the per-dimension breakdown.
Industry peers · Information Technology Services
Peer concentration profile
| Symbol | Name | HIGH | MEDIUM | LOW | Total |
|---|---|---|---|---|---|
| CACI | CACI International, Inc. | 2 | 0 | 2 | 4 |
| PENG● | Penguin Solutions, Inc. | 2 | 0 | 1 | 3 |
| APLD | Applied Digital Corporation | 1 | 2 | 0 | 3 |
| BBAI | BigBear.ai, Inc. | 1 | 1 | 0 | 2 |
| ACN | Accenture plc | 0 | 0 | 0 | 0 |
| BR | Broadridge Financial Solutions, | 0 | 0 | 0 | 0 |
Concentration counts reflect items disclosed in each peer’s most recent 10-K; disclosed-size classification uses TrendMatrix’s internal 10-K extraction taxonomy.