Company: PENG
Filing Date: 2025-10-21
Form Type: 10-K
Source: 0001616533-25-000061
Chunk: 132

Company: Penguin Solutions, Inc.
Filing Date: 2025-10-21
Form: 10-K
Item: Item 8
Chunk 132
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738 shares outstanding as of August 29, 2025; 60,226 shares issued and 53,277 shares outstanding as of August 30, 20241,883 1,807 Additional paid-in capital551,712 513,335 Retained earnings46,709 29,985 Treasury stock, 10,018 shares and 6,949 shares held as of August 29, 2025 and August 30, 2024, respectively(206,076)(153,756)Accumulated other comprehensive income18 10 Total Penguin Solutions stockholders’ equity394,246 391,381 Noncontrolling interest in subsidiary11,271 7,827 Total stockholders' equity405,517 399,208 Total liabilities, temporary equity and stockholders' equity$1,617,200 $1,474,506 

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

73

Penguin Solutions, Inc.

Consolidated Statements of Operations

(In thousands, except per share amounts)Year endedAugust 29,2025August 30,2024August 25,2023Net sales:Products$1,072,738 $925,827 $1,192,890 Services263,706 244,969 248,360 Related party32,350 — — Total net sales1,368,794 1,170,796 1,441,250 Cost of sales:Products863,136 722,634 916,005 Services111,384 107,386 110,074 Total cost of sales974,520 830,020 1,026,079 Gross profit394,274 340,776 415,171 Operating expenses:Research and development79,801 81,537 90,565 Selling, general and administrative238,177 233,880 260,722 Impairment of goodwill16,063 — 19,092 Change in fair value of contingent consideration— — 29,000 Other operating expense2,098 7,064 7,047 Total operating expenses336,139 322,481 406,426 Operating income58,135 18,295 8,745  Non-operating (income) expense:Interest expense, net7,305 28,378 36,421 Other non-operating expense