Company: PENG
Filing Date: 2025-07-08
Form Type: 10-Q
Source: 0001628280-25-034541
Chunk: 75

Company: Penguin Solutions, Inc.
Filing Date: 2025-07-08
Form: 10-Q
Item: Part I, Item 1
Chunk 75
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 10,639 Distribution to noncontrolling interest— — — — — — — — — — — As of March 1, 202458,972 $1,769 — $— $502,560 $48,916 $(148,309)$106 $405,042 $6,462 $411,504 Net income— — — — — 5,616 — — 5,616 610 6,226 Other comprehensive income (loss)— — — — — — — (89)(89)— (89)Shares issued under equity plans704 21 — — 3,796 — — — 3,817 — 3,817 Repurchase of shares— — — — — — (2,129)— (2,129)— (2,129)Share-based compensation expense— — — — 11,192 — — — 11,192 — 11,192 Distribution to noncontrolling interest— — — — — — — — — — — As of May 31, 202459,676 $1,790 — $— $517,548 $54,532 $(150,438)$17 $423,449 $7,072 $430,521 

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

10

Penguin Solutions, Inc.

Consolidated Statements of Cash Flows

(In thousands)

(Unaudited)

Nine Months EndedMay 30,2025May 31,2024Cash flows from operating activitiesNet income (loss)$18,285 $(26,141)Net loss from discontinued operations— (8,148)Net income (loss) from continuing operations18,285 (17,993)Adjustments to reconcile net income (loss) from continuing operations to net cash provided by operating activities:Depreciation expense and amortization of intangible assets43,010 50,335 Amortization of debt issuance costs2,820 2,827 Share-based compensation expense33,362 32,801 Impairment of goodwill11,373 — Loss on extinguishment or prepayment of debt