Company: PENG
Filing Date: 2025-07-08
Form Type: 10-Q
Source: 0001628280-25-034541
Chunk: 70

Company: Penguin Solutions, Inc.
Filing Date: 2025-07-08
Form: 10-Q
Item: Part I, Item 1
Chunk 70
---
 paid-in capital745,557 513,335 Retained earnings40,312 29,985 Treasury shares, 9,889 and 6,949 shares held as of May 30, 2025 and August 30, 2024, respectively(202,996)(153,756)Accumulated other comprehensive income23 10 Total Penguin Solutions shareholders’ equity584,771 391,381 Noncontrolling interest in subsidiary10,152 7,827 Total equity594,923 399,208 Total liabilities and equity$1,802,782 $1,474,506 

The accompanying notes are an integral part of these consolidated financial statements.

6

Penguin Solutions, Inc.

Consolidated Statements of Operations

(In thousands, except per share amounts)

(Unaudited)

Three Months EndedNine Months EndedMay 30,2025May 31,2024May 30,2025May 31,2024Net sales:Products$258,735 $233,105 $830,474 $674,992 Services65,516 67,475 200,398 184,656 Total net sales324,251 300,580 1,030,872 859,648 Cost of sales:Products200,081 182,517 648,828 525,819 Services29,087 29,157 84,501 80,139 Total cost of sales229,168 211,674 733,329 605,958 Gross profit95,083 88,906 297,543 253,690 Operating expenses:Research and development20,222 19,681 59,940 61,596 Selling, general and administrative59,724 57,249 179,575 175,851 Impairment of goodwill5,294 — 11,373 — Other operating expense— 465 968 6,739 Total operating expenses85,240 77,395 251,856 244,186 Operating income (loss)9,843 11,511 45,687 9,504  Non-operating (income) expense:Interest expense, net573 6,167 7,152 22,975 Other non-operating (income) expense(1,439)441 (1,012)113 Total non-operating (income) expense