Company: PENG
Filing Date: 2025-06-27
Form Type: CORRESP
Source: 0001193125-25-151564
Chunk: 0

Company: Penguin Solutions, Inc.
Filing Date: 2025-06-27
Form: CORRESP
Chunk 0
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| SIDLEY AUSTIN LLP 1501 K STREET, N.W.  
 WASHINGTON, D.C. 20005 +1 202 736 8000 
 +1 202 736 8711 FAX                    |     | +1 202 736 8715        
 SVONALTHANN@SIDLEY.COM |

June 27, 2025 VIA EDGAR U.S. Securities and Exchange Commission Division of Corporation Finance 100 F Street, N.E. Washington, D.C. 20549

| Attention: | Claire Erlanger |

| Eiko Yaoita Pyles |

| Re: | Penguin Solutions, Inc. |

Form 10-Kfor the Fiscal Year Ended August 30, 2024 Filed October 24, 2024 Form 10-Qfor the Quarterly Period Ended February 28, 2025 Filed April 2, 2025 File No. 001-38102 Ladies and Gentlemen: On behalf of our client, Penguin Solutions, Inc. (the “Company”), we submit this letter in response to comments from the staff (the “Staff”) of the Securities and Exchange Commission received by letter dated June 23, 2025 concerning the Company’s annual report on Form 10-Kfor the fiscal year ended August 30, 2024, filed October 24, 2024, and the Company’s quarterly report on Form 10-Qfor the fiscal quarter ended February 28, 2025, filed April 2, 2025. We have reviewed and discussed your comments with representatives of the Company, which has instructed us to submit the responses set forth in this letter on its behalf. For your convenience, each comment is repeated in italics below. The Company’s prior response letter dated June 18, 2025, in response to the Staff’s comments dated May 20, 2025, are referred to herein as the “June 18, 2025 Response Letter.” Management’s Discussion and Analysis of Financial Condition and Results of Operations Impairment of Goodwill, page 31 1. We note your response to prior comment 2. Please provide a more detailed analysis supporting your conclusion that a full impairment of the remaining $10 million in goodwill is not necessary when impairment became probable. Specifically, explain to us the last sentence of your response that as the Penguin Edge business continues to wind down, cash flows from the business will be received by the Company, decreasing the remaining cash flows from customer contracts and resulting in