SMART Global Holdings (NASDAQ:SGH) has announced its financial results for the third quarter of fiscal year 2024.

The company’s net sales reached $300.6 million, which represents a 5.5% increase from the previous quarter.

In terms of profitability, the GAAP gross margin improved to 29.6%, up from 28.8% in the prior quarter.

Similarly, the non-GAAP gross margin also increased, moving from 31.5% to 32.3%.

While the company's GAAP earnings per share (EPS) turned positive at $0.10, a substantial improvement from a loss of $0.26 in the previous quarter, non-GAAP EPS saw a substantial rise, increasing 37% to $0.37 compared to $0.27 in the prior quarter.