Company: PENG
Filing Date: 2025-10-21
Form Type: 10-K
Source: 0001616533-25-000061
Chunk: 110

Company: Penguin Solutions, Inc.
Filing Date: 2025-10-21
Form: 10-K
Item: Item 7
Chunk 110
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 names and backlog acquired in connection with business combinations); acquisition-related inventory adjustments; diligence, acquisition and integration expense; restructuring charges; impairment of goodwill; changes in the fair value of contingent consideration; redomiciliation costs; and other infrequent or unusual items. While amortization of acquisition-related intangible assets is excluded, the revenues from acquired companies is reflected in our non-GAAP measures and these intangible assets contribute to revenue generation. See “Item 8. Financial Statements and Supplementary Data – Notes to Consolidated Financial Statements – Segment and Other Information.”

Non-GAAP financial measures should not be considered as a substitute for, or superior to, measures of financial performance prepared in accordance with GAAP, as they exclude important information about our financial results, as noted above. The presentation of these adjusted amounts varies from amounts presented in accordance with GAAP and therefore may not be comparable to amounts reported by other companies.

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Year endedAugust 29,2025August 30,2024August 25,2023GAAP operating income$58,135 $18,295 $8,745 Stock-based compensation expense41,176 43,160 39,228 Amortization of acquisition-related intangibles34,838 39,272 44,601 Flow-through of inventory step up— — 2,599 Cost of sales-related restructuring746 2,136 6,813 Diligence, acquisition and integration expense1,829 8,772 20,869 Redomiciliation costs (1)10,038 470 — Impairment of goodwill16,063 — 19,092 Change in fair value of contingent consideration— — 29,000 Restructuring charges2,098 7,064 7,047 Other (1)2,729 1,088 1,800 Non-GAAP operating income$167,652 $120,257 $179,794 Non-GAAP operating income by segment:   Advanced Computing$115,009 $95,291 $110,975 Integrated Memory43,639 22,413 73,639 Optimized LED9,004 2,553 (4,820)Total non-GAAP operating income by segment$167,652 $120,257 $179,794 (1) In 2025 we began breaking out costs related to the U.S. Domestication from “Other.” All periods presented