Company: PENG
Filing Date: 2025-07-08
Form Type: 10-Q
Source: 0001628280-25-034541
Chunk: 173

Company: Penguin Solutions, Inc.
Filing Date: 2025-07-08
Form: 10-Q
Item: Part II, Item 8
Chunk 173
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 operating results. In addition, in our Advanced Computing business, where we source components from third parties, the high demand for and limited supply of AI components globally, as well as any delays in the production of such components, continues to affect our sourcing of these components and the timing of deployments. In particular, we continue to experience extended lead times for certain components that are incorporated into our overall solutions, which impacts how quickly we are able to ramp existing and new customer projects. If such disruptions worsen or are prolonged, or if there is meaningful disruption in our supply arrangement with any of our third-party suppliers, our operating results and financial condition may continue to be adversely affected.

36

Results of Operations

Three Months EndedNine Months EndedMay 30,2025May 31,2024May 30,2025May 31,2024Net sales:  Advanced Computing$132,498 40.9 %$144,968 48.2 %$510,081 49.5 %$405,197 47.1 %Integrated Memory130,124 40.1 %91,629 30.5 %332,090 32.2 %260,594 30.3 %Optimized LED 61,629 19.0 %63,983 21.3 %188,701 18.3 %193,857 22.6 %Total net sales324,251 100.0 %300,580 100.0 %1,030,872 100.0 %859,648 100.0 %Cost of sales229,168 70.7 %211,674 70.4 %733,329 71.1 %605,958 70.5 %Gross profit95,083 29.3 %88,906 29.6 %297,543 28.9 %253,690 29.5 % Operating expenses: Research and development20,222 6.2 %19,681 6.5 %59,940 5.8 %61,596 7.2 %Selling, general and administrative59,724 18.4 %57,249 19.0 %179,575 17.4 %175,851 20.5 %Impairment of goodwill5,294 1.6