Company: PENG
Filing Date: 2025-10-21
Form Type: 10-K
Source: 0001616533-25-000061
Chunk: 107

Company: Penguin Solutions, Inc.
Filing Date: 2025-10-21
Form: 10-K
Item: Item 7
Chunk 107
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 may negatively affect gross margins due to changes in shipment timing and product mix. If such disruptions worsen or are prolonged, or if there is meaningful disruption in our supply arrangement with any of our third-party suppliers, our results of operations and financial condition may continue to be adversely affected.

Results of Operations

Year endedAugust 29,2025% of netsales (1)August 30,2024% of netsales (1)August 25,2023% of netsales (1)Net sales:   Advanced Computing$648,417 47.4 %$554,552 47.4 %$749,708 52.0 %Integrated Memory464,249 33.9 %356,426 30.4 %443,264 30.8 %Optimized LED256,128 18.7 %259,818 22.2 %248,278 17.2 %Total net sales1,368,794 100.0 %1,170,796 100.0 %1,441,250 100.0 %Cost of sales974,520 71.2 %830,020 70.9 %1,026,079 71.2 %Gross profit394,274 28.8 %340,776 29.1 %415,171 28.8 %  Operating expenses: Research and development79,801 5.8 %81,537 7.0 %90,565 6.3 %Selling, general and administrative238,177 17.4 %233,880 20.0 %260,722 18.1 %Impairment of goodwill16,063 1.2 %— — %19,092 1.3 %Change in fair value of contingent consideration— — %— — %29,000 2.0 %Other operating expense2,098 0.2 %7,064 0.6 %7,047 0.5 %Total operating expenses336,139 24.6 %322,481 27.5 %406,426 28.2 %Operating income58,135 4.2 %18,295 1.6 %8,745 0.6 %   Non-operating (