Company: PENG
Filing Date: 2025-04-02
Form Type: 10-Q
Source: 0001628280-25-016182
Chunk: 6

Company: Penguin Solutions, Inc.
Filing Date: 2025-04-02
Form: 10-Q
Item: Part I, Item 2
Chunk 6
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, trademarks/trade names and backlog acquired in connection with business combinations); acquisition-related inventory adjustments; diligence, acquisition and integration expense; restructuring charges; impairment of goodwill; changes in the fair value of contingent consideration; redomiciliation costs; and other infrequent or unusual items. While amortization of acquisition-related intangible assets is excluded, the revenues from acquired companies is reflected in our non-GAAP measures and these intangible assets contribute to revenue generation. See “Item 1. Financial Statements – Notes to Consolidated Financial Statements – Segment and Other Information.”

Non-GAAP financial measures should not be considered as a substitute for, or superior to, measures of financial performance prepared in accordance with GAAP, as they exclude important information about our financial results, as noted above. The presentation of these adjusted amounts varies from amounts presented in accordance with GAAP and therefore may not be comparable to amounts reported by other companies.

Three Months EndedSix Months EndedFebruary 28,2025March 1,2024February 28,2025March 1,2024GAAP operating income (loss)$18,488 $(3,312)$35,844 $(2,007)Share-based compensation expense11,580 10,639 23,111 21,609 Amortization of acquisition-related intangibles8,839 9,751 18,594 19,759 Cost of sales-related restructuring77 216 35 884 Diligence, acquisition and integration expense567 5,885 1,400 6,674 Redomiciliation costs (1)2,359 — 3,602 — Impairment of goodwill6,079 — 6,079 — Restructuring charges859 3,335 968 6,274 Other (1)242 — 375 — Non-GAAP operating income$49,090 $26,514 $90,008 $53,193 Non-GAAP operating income (loss) by segment:  Advanced Computing$36,933 $22,291 $67,050 $40,192 Integrated Memory10,970 6,016 18,086 13,211 Optimized LED1,187 (1,793)4,872 (210)Total non-GAAP operating income (loss) by segment$49,090 $26,514 $90,008 $53,193 (1)