Company: PENG
Filing Date: 2025-04-02
Form Type: 10-Q
Source: 0001628280-25-016182
Chunk: 41

Company: Penguin Solutions, Inc.
Filing Date: 2025-04-02
Form: 10-Q
Item: Part I, Item 1
Chunk 41
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(13,130)— (13,130)Share-based compensation expense— — — — 11,014 — — — 11,014 — 11,014 Distribution to noncontrolling interest— — — — — — — — — (1,470)(1,470)As of December 1, 202358,447 1,753 — — 491,145 62,536 (145,577)303 410,160 5,849 416,009 Net income (loss)— — — — — (13,620)— — (13,620)613 (13,007)Other comprehensive income (loss)— — — — — — — (197)(197)— (197)Shares issued under equity plans525 16 — — 776 — — — 792 — 792 Repurchase of shares— — — — — — (2,732)— (2,732)— (2,732)Share-based compensation expense— — — — 10,639 — — — 10,639 — 10,639 As of March 1, 202458,972 $1,769 — $— $502,560 $48,916 $(148,309)$106 $405,042 $6,462 $411,504 

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

9

Penguin Solutions, Inc.

Consolidated Statements of Cash Flows

(In thousands)

(Unaudited)

Six Months EndedFebruary 28,2025March 1,2024Cash flows from operating activitiesNet income (loss)$14,835 $(32,367)Net loss from discontinued operations— (8,148)Net income (loss) from continuing operations14,835 (24,219)Adjustments to reconcile net income (loss) from continuing operations to net cash provided by operating activities:Depreciation expense and amortization of intangible assets28,998 34,810 Amortization of debt issuance costs1,903 2,010 Share-based compensation expense23,111 21,609 Impairment of goodwill6,079 — Loss on extingu