Company: PENG
Filing Date: 2025-07-08
Form Type: 10-Q
Source: 0001628280-25-034541
Chunk: 69

Company: Penguin Solutions, Inc.
Filing Date: 2025-07-08
Form: 10-Q
Item: Part I, Item 1
Chunk 69
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Item 1. Financial Statements

INDEX TO FINANCIAL STATEMENTS

PageConsolidated Balance Sheets6Consolidated Statements of Operations7Consolidated Statements of Comprehensive Income (Loss)8Consolidated Statements of Shareholders’ Equity9Consolidated Statements of Cash Flows11Notes to Consolidated Financial Statements12

5

Penguin Solutions, Inc.

Consolidated Balance Sheets

(In thousands, except par value amounts)

(Unaudited)

As ofMay 30,2025August 30,2024Assets  Cash and cash equivalents$709,871 $383,147 Short-term investments25,676 6,337 Accounts receivable, net292,504 251,743 Inventories184,348 151,213 Other current assets37,497 75,264 Total current assets1,249,896 867,704 Property and equipment, net93,882 106,548 Operating lease right-of-use assets61,850 60,349 Intangible assets, net95,130 121,454 Goodwill150,585 161,958 Deferred tax assets83,872 85,078 Other noncurrent assets67,567 71,415 Total assets$1,802,782 $1,474,506 Liabilities and EquityAccounts payable and accrued expenses$310,572 $219,090 Current debt19,916 — Deferred revenue101,374 63,954 Other current liabilities44,882 44,552 Total current liabilities476,744 327,596 Long-term debt639,562 657,347 Noncurrent operating lease liabilities63,650 60,542 Other noncurrent liabilities27,903 29,813 Total liabilities1,207,859 1,075,298 Commitments and contingenciesPenguin Solutions shareholders’ equity:Ordinary shares, $0.03 par value; authorized 200,000 shares; 62,306 shares issued and 52,417 outstanding as of May 30, 2025; 60,226 shares issued and 53,277 outstanding as of August 30, 20241,869 1,807 Preferred shares, $0.03 par value; authorized 30,000 shares; 200 shares issued and outstanding as of May 30, 2025; no shares issued or outstanding as of August 30, 20246 — Additional