Company: PENG
Filing Date: 2025-04-02
Form Type: 10-Q
Source: 0001628280-25-016182
Chunk: 37

Company: Penguin Solutions, Inc.
Filing Date: 2025-04-02
Form: 10-Q
Item: Part I, Item 1
Chunk 37
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 paid-in capital731,323 513,335 Retained earnings40,684 29,985 Treasury shares, 7,951 and 6,949 shares held as of February 28, 2025 and August 30, 2024, respectively(171,351)(153,756)Accumulated other comprehensive income (loss)17 10 Total Penguin Solutions shareholders’ equity602,528 391,381 Noncontrolling interest in subsidiary9,363 7,827 Total equity611,891 399,208 Total liabilities and equity$1,811,344 $1,474,506 

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

5

Penguin Solutions, Inc.

Consolidated Statements of Operations

(In thousands, except per share amounts)

(Unaudited)

Three Months EndedSix Months EndedFebruary 28,2025March 1,2024February 28,2025March 1,2024Net sales:Products$301,479 $235,457 $571,739 $441,887 Services64,040 49,364 134,882 117,181 Total net sales365,519 284,821 706,621 559,068 Cost of sales:Products233,598 179,889 448,747 343,302 Services27,273 22,998 55,414 50,982 Total cost of sales260,871 202,887 504,161 394,284 Gross profit104,648 81,934 202,460 164,784 Operating expenses:Research and development19,907 20,526 39,718 41,915 Selling, general and administrative59,315 61,385 119,851 118,602 Impairment of goodwill6,079 — 6,079 — Other operating expense859 3,335 968 6,274 Total operating expenses86,160 85,246 166,616 166,791 Operating income (loss)18,488 (3,312)35,844 (2,007) Non-operating (income) expense:Interest expense, net2,183 7,249 6,579 16,808 Other non-operating (income) expense(209)248 427 (328)Total non-operating (