Agile software development is widely associated with flexibility, adaptability, and continuous improvement, and is often considered supportive of product innovation within software development teams. However, the relationship between specific agile practices and product innovation outcomes remains insufficiently understood, particularly from practitioner oriented perspectives represented in gray literature. The aim of this study was therefore to investigate how agile software development practices influence product innovation outcomes as described in gray literature sources. A structured Gray Literature Review was conducted using practitioner oriented sources such as engineering blogs, industry articles, organizational guides, technical reports, and online discussions published between 2015 and 2025. The collected material was analyzed through qualitative thematic coding and categorization. The findings indicate that agile practices related to collaboration, adaptability, learning, and continuous feedback were primarily associated with positive innovation related outcomes, while more rigid and control oriented implementations of agile were more frequently connected to negative outcomes. The results also suggest that agile practices may contribute to both incremental product improvements and broader innovation capability within software development environments. Overall, the study concludes that agile software development practices can support product innovation, but that their effectiveness depends heavily on organizational implementation, team context, and how agile methods are applied in practice.