Company: PENG
Filing Date: 2025-10-21
Form Type: 10-K
Source: 0001616533-25-000061
Chunk: 136

Company: Penguin Solutions, Inc.
Filing Date: 2025-10-21
Form: 10-K
Item: Item 8
Chunk 136
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uance of preferred stock— — 200 6 191,177 — — — 191,183 — 191,183 Preferred stock dividends— — — — — (8,667)— — (8,667)— (8,667)Preferred stock reclassified to Temporary equity— — (200)(6)(202,704)— — — (202,710)— (202,710)As of August 29, 202562,756 $1,883 — $— $551,712 $46,709 $(206,076)$18 $394,246 $11,271 $405,517 

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

76

Penguin Solutions, Inc.

Consolidated Statements of Cash Flows

(In thousands)Year EndedAugust 29,2025August 30,2024August 25,2023Cash flows from operating activitiesNet income (loss)$28,835 $(49,933)$(185,694)Net loss from discontinued operations— (8,148)(195,384)Net income (loss) from continuing operations28,835 (41,785)9,690 Adjustments to reconcile net income (loss) from continuing operations to net cash provided by operating activities:Depreciation expense and amortization of intangible assets56,216 65,716 71,632 Amortization of debt issuance costs3,493 3,724 4,064 Stock-based compensation expense41,176 43,160 39,228 Impairment of goodwill16,063 — 19,092 Change in fair value of contingent consideration— — 29,000 Loss on extinguishment debt2,908 22,763 15,924 Deferred income taxes, net(14,112)(11,042)(63,603)Other(2,293)(2,689)4,008 Changes in operating assets and liabilities:Accounts receivable(56,160)(32,495)162,515 Inventories(101,610)23,765 95,217 Other assets7,653 9,098 6,767 Accounts payable and accrued expenses and other liabilities131,014 54,306 (256,133)Payment of acquisition-related contingent consideration— (29,