Company: PENG
Filing Date: 2025-10-21
Form Type: 10-K
Source: 0001616533-25-000061
Chunk: 131

Company: Penguin Solutions, Inc.
Filing Date: 2025-10-21
Form: 10-K
Item: Item 8
Chunk 131
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Item 8. Financial Statements and Supplementary Data

INDEX TO FINANCIAL STATEMENTS

 Page  Consolidated Balance Sheets73Consolidated Statements of Operations74Consolidated Statements of Comprehensive Income (Loss)75Consolidated Statements of Stockholders’ Equity76Consolidated Statements of Cash Flows77Notes to Consolidated Financial Statements78Report of Independent Registered Public Accounting Firm (PCAOB ID No. 34)118

72

Penguin Solutions, Inc.

Consolidated Balance Sheets

(In thousands, except par value amount)

As ofAugust 29,2025August 30,2024Assets  Cash and cash equivalents$453,754 $383,147 Short-term investments— 6,337 Accounts receivable, net307,904 251,743 Inventories255,182 151,213 Other current assets47,387 75,264 Total current assets1,064,227 867,704 Property and equipment, net92,603 106,548 Operating lease right-of-use assets58,847 60,349 Intangible assets, net87,754 121,454 Goodwill145,895 161,958 Deferred tax assets99,107 85,078 Other noncurrent assets68,767 71,415 Total assets$1,617,200 $1,474,506 Liabilities, Temporary Equity and Stockholders' EquityAccounts payable and accrued expenses$318,761 $219,090 Current debt19,945 — Deferred revenue73,893 63,954 Other current liabilities61,300 44,552 Total current liabilities473,899 327,596 Long-term debt441,893 657,347 Noncurrent operating lease liabilities62,736 60,542 Other noncurrent liabilities30,445 29,813 Total liabilities1,008,973 1,075,298 Commitments and contingenciesTemporary equityPreferred stock, $0.03 par value; authorized 30,000 shares; 200 shares of convertible preferred stock issued and outstanding as of August 29, 2025, redemption amount of $200,500; no shares issued or outstanding as of August 30, 2024202,710 — Penguin Solutions stockholders’ equity:Common stock, $0.03 par value; authorized 200,000 shares; 62,756 shares issued and 52,