Company: PENG
Filing Date: 2025-04-02
Form Type: 10-Q
Source: 0001628280-25-016182
Chunk: 36

Company: Penguin Solutions, Inc.
Filing Date: 2025-04-02
Form: 10-Q
Item: Part I, Item 1
Chunk 36
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Item 1. Financial Statements

INDEX TO FINANCIAL STATEMENTS

PageConsolidated Balance Sheets5Consolidated Statements of Operations6Consolidated Statements of Comprehensive Income (Loss)7Consolidated Statements of Shareholders’ Equity8Consolidated Statements of Cash Flows10Notes to Consolidated Financial Statements11

4

Penguin Solutions, Inc.

Consolidated Balance Sheets

(In thousands, except par value amounts)

(Unaudited)

As ofFebruary 28,2025August 30,2024Assets  Cash and cash equivalents$621,682 $383,147 Short-term investments25,323 6,337 Accounts receivable, net330,384 251,743 Inventories199,737 151,213 Other current assets67,639 75,264 Total current assets1,244,765 867,704 Property and equipment, net97,116 106,548 Operating lease right-of-use assets56,363 60,349 Intangible assets, net103,280 121,454 Goodwill155,879 161,958 Deferred tax assets84,944 85,078 Other noncurrent assets68,997 71,415 Total assets$1,811,344 $1,474,506 Liabilities and EquityAccounts payable and accrued expenses$278,093 $219,090 Current debt19,891 — Deferred revenue121,646 63,954 Other current liabilities54,075 44,552 Total current liabilities473,705 327,596 Long-term debt638,900 657,347 Noncurrent operating lease liabilities56,816 60,542 Other noncurrent liabilities30,032 29,813 Total liabilities1,199,453 1,075,298 Commitments and contingenciesPenguin Solutions shareholders’ equity:Ordinary shares, $0.03 par value; authorized 200,000 shares; 61,620 shares issued and 53,668 outstanding as of February 28, 2025; 60,226 shares issued and 53,277 outstanding as of August 30, 20241,849 1,807 Preferred shares, $0.03 par value; authorized 30,000 shares; 200 shares issued and outstanding as of February 28, 2025; no shares issued or outstanding as of August 30, 20246 — Additional