Penguin Solutions Inc.'s income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Aug 28, 2026 · FY), Penguin Solutions Inc. reported revenue of $1.7B (+26.5% year on year) and net income of $185.8M (+544.3% year on year).
| Line item | Aug 28, 2026 · FY | Aug 29, 2025 · FY | Aug 30, 2024 · FY | Aug 25, 2023 · FY |
|---|---|---|---|---|
| Total net sales | $1.7B | $1.4B | $1.2B | $1.4B |
| Total cost of sales | $1.3B | $974.5M | $830.0M | $1.0B |
| Gross profit | $478.9M | $394.3M | $340.8M | $415.2M |
| Research and development | $81.7M | $79.8M | $81.5M | $90.6M |
| Selling, general and administrative | $220.4M | $238.2M | $233.9M | $260.7M |
| Impairment of goodwill | $0 | $16.1M | $0 | $19.1M |
| Other operating expense | $11.2M | $2.1M | $7.1M | $7.0M |
| Total operating expenses | $313.3M | $336.1M | $322.5M | $406.4M |
| Operating income | $165.6M | $58.1M | $18.3M | $8.7M |
| Interest expense, net | $438.0K | $7.3M | $28.4M | $36.4M |
| Other non-operating (income) expense | $13.2M | $1.9M | $21.1M | $11.8M |
| Total non-operating (income) expense | $13.7M | $9.2M | $49.5M | $48.3M |
| Income (loss) before taxes | $151.9M | $48.9M | ($31.2M) | ($39.5M) |
| Income tax (benefit) provision | ($33.9M) | $20.1M | $10.6M | ($49.2M) |
| Net income (loss) from continuing operations | $185.8M | $28.8M | ($41.8M) | $9.7M |
| Net loss from discontinued operations | $0 | $0 | ($8.1M) | ($195.4M) |
| Net income (loss) | $185.8M | $28.8M | ($49.9M) | ($185.7M) |
| Net income attributable to noncontrolling interest | $5.2M | $3.4M | $2.5M | $1.8M |
| Net income (loss) attributable to Penguin Solutions | $180.6M | $25.4M | ($52.5M) | ($187.5M) |
| Preferred stock dividends | $12.1M | $8.7M | — | — |
| Income available for distribution | $168.5M | $16.7M | — | — |
| Income allocated to participating securities | $17.4M | $1.3M | — | — |
| Net income (loss) available to common stockholders, basic | $151.1M | $15.5M | — | — |
| Net income available to common stockholders, diluted | $151.1M | $15.5M | — | — |
| Continuing, basic (in usd per share) | $2.85 | $0.29 | -$0.85 | $0.16 |
| Discontinued, basic (in usd per share) | $0.00 | $0.00 | -$0.15 | -$3.94 |
| Basic (in usd per share) | $2.85 | $0.29 | -$1.00 | -$3.78 |
| Continuing, diluted (in usd per share) | $2.60 | $0.28 | -$0.85 | $0.15 |
| Discontinued, diluted (in usd per share) | $0.00 | $0.00 | -$0.15 | -$3.80 |
| Diluted (in usd per share) | $2.60 | $0.28 | -$1.00 | -$3.65 |
| Basic (in shares) | 53.0M | 53.2M | 52.4M | 49.6M |
| Diluted (in shares) | 58.8M | 54.4M | 52.4M | 51.3M |
| Line item | May 29, 2026 · Q3 | Feb 27, 2026 · Q2 | Nov 28, 2025 · Q1 | May 30, 2025 · Q3 |
|---|---|---|---|---|
| Total net sales | $478.7M | $343.0M | $343.1M | $324.3M |
| Total cost of sales | $345.5M | $249.3M | $247.0M | $229.2M |
| Gross profit | $133.2M | $93.7M | $96.1M | $95.1M |
| Research and development | $22.0M | $19.0M | $18.7M | $20.2M |
| Selling, general and administrative | $59.4M | $48.0M | $53.1M | $59.7M |
| Impairment of goodwill | $0 | $0 | — | $5.3M |
| Other operating expense | $963.0K | $1.0M | $4.7M | $0 |
| Total operating expenses | $82.4M | $68.0M | $76.5M | $85.2M |
| Operating income | $50.9M | $25.7M | $19.6M | $9.8M |
| Interest expense, net | $650.0K | $721.0K | $47.0K | $573.0K |
| Other non-operating income | ($3.5M) | ($28.0M) | $11.7M | ($1.4M) |
| Total non-operating (income) expense | ($2.8M) | ($27.3M) | $11.7M | ($866.0K) |
| Income before taxes | $53.7M | $53.0M | $7.9M | $10.7M |
| Income tax provision | $7.5M | $14.4M | $1.8M | $7.3M |
| Net income | $46.2M | $38.5M | $6.1M | $3.5M |
| Net income attributable to noncontrolling interest | $1.5M | $1.1M | $785.0K | $789.0K |
| Net income attributable to Penguin Solutions | $44.7M | $37.5M | $5.3M | $2.7M |
| Preferred stock dividends | $3.0M | $3.0M | $3.0M | $3.0M |
| Income available for distribution | $41.7M | $34.4M | $2.2M | ($372.0K) |
| Income allocated to participating securities | $4.4M | $3.6M | $231.0K | $0 |
| Net income (loss) available to common stockholders, basic | $37.2M | $30.8M | $2.0M | ($372.0K) |
| Net income (loss) available to common stockholders, diluted | $37.2M | $30.8M | $2.0M | — |
| Basic (in usd per share) | $0.73 | $0.59 | $0.04 | -$0.01 |
| Diluted (in usd per share) | $0.68 | $0.58 | $0.04 | -$0.01 |
| Basic (in shares) | 51.0M | 52.3M | 52.9M | 53.1M |
| Diluted (in shares) | 55.1M | 53.2M | 55.0M | 53.7M |
| Line item | Aug 28, 2026 · FY | Aug 29, 2025 · FY | Aug 30, 2024 · FY | Aug 25, 2023 · FY |
|---|---|---|---|---|
| Cash and cash equivalents | $647.2M | $453.8M | $383.1M | $365.6M |
| Accounts receivable, net (including $683 and $— due from related party as of August 28, 2026 and August 29, 2025, respectively) | $796.3M | $307.9M | $251.7M | $219.2M |
| Inventories | $748.8M | $255.2M | $151.2M | $175.0M |
| Other current assets | $56.2M | $47.4M | $75.3M | $51.8M |
| Total current assets | $2.2B | $1.1B | $867.7M | $907.4M |
| Property and equipment, net | $84.2M | $92.6M | $106.5M | $118.7M |
| Operating lease right-of-use assets | $54.2M | $58.8M | $60.3M | $68.4M |
| Intangible assets, net | $59.9M | $87.8M | $121.5M | $160.2M |
| Goodwill | $145.9M | $145.9M | $162.0M | $162.0M |
| Deferred tax assets | $173.4M | $99.1M | $85.1M | $74.1M |
| Other noncurrent assets | $12.0M | $68.8M | $71.4M | $15.2M |
| Total assets | $2.8B | $1.6B | $1.5B | $1.5B |
| Accounts payable and accrued expenses | $890.5M | $318.8M | $219.1M | $182.0M |
| Current debt | $53.4M | $19.9M | $0 | $35.6M |
| Deferred revenue | $123.3M | $73.9M | $64.0M | $48.1M |
| Other current liabilities | $128.8M | $61.3M | $44.6M | $32.7M |
| Total current liabilities | $1.2B | $473.9M | $327.6M | $426.3M |
| Long-term debt | $735.5M | $441.9M | $657.3M | $754.8M |
| Noncurrent operating lease liabilities | $57.9M | $62.7M | $60.5M | $66.4M |
| Other noncurrent liabilities | $48.9M | $30.4M | $29.8M | $29.2M |
| Total liabilities | $2.0B | $1.0B | $1.1B | $1.3B |
| Preferred stock, $0.03 par value; authorized 30,000 shares; 200 shares of convertible preferred stock issued and outstanding as of August 28, 2026 and August 29, 2025. Redemption amount of $200,400 and $200,500 as of August 28, 2026 and August 29, 2025 | 202.7M | 202.7M | — | — |
| Common stock, $0.03 par value; authorized 200,000 shares; 73,827 shares issued and 60,171 shares outstanding as of August 28, 2026; 62,756 shares issued and 52,738 shares outstanding as of August 29, 2025 | 2.2M | 1.9M | 1.8M | 1.7M |
| Additional paid-in capital | $583.6M | $551.7M | $513.3M | $476.7M |
| Retained earnings | $215.2M | $46.7M | $30.0M | $82.5M |
| Treasury stock, 13,656 shares and 10,018 shares held as of August 28, 2026 and August 29, 2025, respectively | -280.5M | — | — | — |
| Accumulated other comprehensive income | $211.0K | $18.0K | $10.0K | ($206.0M) |
| Total Penguin Solutions stockholders’ equity | $520.7M | $394.2M | $391.4M | $222.5M |
| Noncontrolling interest in subsidiary | $16.4M | $11.3M | $7.8M | $6.8M |
| Total stockholders' equity | $537.2M | $405.5M | $399.2M | $229.2M |
| Total liabilities, temporary equity and stockholders' equity | $2.8B | $1.6B | $1.5B | $1.5B |
| Line item | May 29, 2026 | Feb 27, 2026 | Nov 28, 2025 | May 30, 2025 |
|---|---|---|---|---|
| Cash and cash equivalents | $440.3M | $489.2M | $461.5M | $709.9M |
| Accounts receivable, net | $704.3M | $370.6M | $342.0M | $292.5M |
| Inventories | $498.3M | $322.4M | $213.2M | $184.3M |
| Other current assets | $85.9M | $56.3M | $50.4M | $37.5M |
| Total current assets | $1.7B | $1.2B | $1.1B | $1.2B |
| Property and equipment, net | $85.2M | $86.9M | $90.4M | $93.9M |
| Operating lease right-of-use assets | $55.5M | $56.6M | $57.3M | $61.9M |
| Intangible assets, net | $66.5M | $73.5M | $80.6M | $95.1M |
| Goodwill | $145.9M | $145.9M | $145.9M | $150.6M |
| Deferred tax assets | $98.8M | $99.1M | $99.0M | $83.9M |
| Other noncurrent assets | $10.3M | $49.3M | $58.1M | $67.6M |
| Total assets | $2.2B | $1.7B | $1.6B | $1.8B |
| Accounts payable and accrued expenses | $802.6M | $454.5M | $347.5M | $310.6M |
| Current debt | $148.4M | $0 | $20.0M | $19.9M |
| Deferred revenue | $90.4M | $81.6M | $43.6M | $101.4M |
| Other current liabilities | $78.3M | $54.6M | $47.0M | $44.9M |
| Total current liabilities | $1.1B | $590.7M | $458.1M | $476.7M |
| Long-term debt | $294.8M | $442.8M | $442.3M | $639.6M |
| Noncurrent operating lease liabilities | $59.3M | $60.8M | $61.4M | $63.6M |
| Other noncurrent liabilities | $60.8M | $44.9M | $31.9M | $27.9M |
| Total liabilities | $1.5B | $1.1B | $993.7M | $1.2B |
| Preferred stock, $0.03 par value; authorized 30,000 shares; 200 shares of convertible preferred stock issued and outstanding as of May 29, 2026 and August 29, 2025. Redemption amount of $200,500 as of May 29, 2026 and August 29, 2025 | 202.7M | 202.7M | 202.7M | — |
| Common stock, $0.03 par value; authorized 200,000 shares; 64,804 shares issued and 51,240 outstanding as of May 29, 2026; 62,756 shares issued and 52,738 outstanding as of August 29, 2025 | 1.9M | 1.9M | 1.9M | 1.9M |
| Additional paid-in capital | $587.0M | $572.7M | $565.1M | $745.6M |
| Retained earnings | $125.0M | $83.4M | $48.9M | $40.3M |
| Treasury stock, 13,564 and 10,018 shares held as of May 29, 2026 and August 29, 2025, respectively | -275.0M | -263.2M | -226.3M | -203.0M |
| Accumulated other comprehensive income | $11.0K | $14.0K | $13.0K | $23.0K |
| Total Penguin Solutions stockholders’ equity | $439.1M | $394.8M | $389.7M | $584.8M |
| Noncontrolling interest in subsidiary | $14.6M | $13.1M | $12.1M | $10.2M |
| Total stockholders' equity | $453.7M | $408.0M | $401.8M | $594.9M |
| Total liabilities, temporary equity and stockholders' equity | $2.2B | $1.7B | $1.6B | $1.8B |
| Line item | Aug 28, 2026 · FY | Aug 29, 2025 · FY | Aug 30, 2024 · FY | Aug 25, 2023 · FY |
|---|---|---|---|---|
| Net income (loss) | $185.8M | $28.8M | ($49.9M) | ($185.7M) |
| Net loss from discontinued operations | $0 | $0 | ($8.1M) | ($195.4M) |
| Net income (loss) from continuing operations | $185.8M | $28.8M | ($41.8M) | $9.7M |
| Depreciation expense and amortization of intangible assets | $50.2M | $56.2M | $65.7M | $71.6M |
| Amortization of debt issuance costs | $2.7M | $3.5M | $3.7M | $4.1M |
| Stock-based compensation expense | $31.8M | $41.2M | $43.2M | $39.2M |
| Loss on impairment of non-marketable equity investment | $10.0M | — | — | — |
| Impairment of goodwill | $0 | $16.1M | $0 | $19.1M |
| Loss on extinguishment of debt | $0 | $2.9M | $22.8M | $15.9M |
| Inducement expense related to the conversion of the 2029 and 2030 Notes | $33.2M | — | — | — |
| Gain on disposition of equity investment | ($30.9M) | — | — | — |
| Deferred income taxes, net | ($62.7M) | ($14.1M) | ($11.0M) | ($63.6M) |
| Other | $2.0M | ($2.3M) | ($2.7M) | $4.0M |
| Accounts receivable (including related party balances of $683, $— , and $— as of August 28, 2026, August 29, 2025, and August 30, 2024, respectively) | ($488.4M) | ($56.2M) | ($32.5M) | $162.5M |
| Inventories | ($493.6M) | ($101.6M) | $23.8M | $95.2M |
| Other assets | $964.0K | $7.7M | $9.1M | $6.8M |
| Accounts payable and accrued expenses and other liabilities | $607.0M | $131.0M | $54.3M | ($256.1M) |
| Net cash provided by (used for) operating activities from continuing operations | ($151.9M) | $113.2M | $105.5M | $63.7M |
| Net cash used for operating activities from discontinued operations | $0 | ($4.1M) | ($28.3M) | $40.7M |
| Net cash provided by (used for) operating activities | ($151.9M) | $109.1M | $77.2M | $104.4M |
| Capital expenditures and deposits on equipment | ($11.6M) | ($9.0M) | ($19.4M) | ($39.4M) |
| Proceeds from sales and maturities of investment securities | $0 | $66.4M | $39.4M | — |
| Purchases of held-to-maturity investment securities | $0 | ($59.1M) | ($19.5M) | ($25.0M) |
| Purchases of non-marketable investments | $0 | $0 | ($11.0M) | — |
| Proceeds from disposition of equity investments | $71.8M | — | — | — |
| Other | ($2.1M) | ($1.7M) | ($1.3M) | ($3.7M) |
| Net cash provided by (used for) investing activities from continuing operations | $58.1M | ($3.4M) | ($11.8M) | ($281.2M) |
| Net cash provided by investing activities from discontinued operations | $0 | $28.4M | $119.4M | ($17.4M) |
| Net cash provided by (used for) investing activities | $58.1M | $25.0M | $107.6M | ($298.6M) |
| Repayments of debt | ($315.5M) | ($300.0M) | ($351.3M) | ($21.6M) |
| Payments to acquire common stock | ($74.4M) | ($52.3M) | ($21.3M) | ($24.7M) |
| Payment of acquisition-related contingent consideration | $0 | $0 | ($29.0M) | ($73.7M) |
| Net cash paid for settlement and purchase of capped calls | ($49.1M) | $0 | ($16.3M) | ($4.3M) |
| Distribution to noncontrolling interest | $0 | $0 | ($1.5M) | ($2.0M) |
| Proceeds from debt, net of lender debt issuance costs | $736.5M | $0 | $192.7M | $295.3M |
| Payment of third-party debt issuance costs | ($1.3M) | ($3.3M) | — | — |
| Proceeds from issuance of common stock | $10.4M | $8.8M | $9.8M | $43.0M |
| Proceeds from restricted cash advances | $93.0M | — | — | — |
| Payment of preferred stock cash dividends | ($12.2M) | ($7.9M) | — | — |
| Repayments of borrowings under line of credit | ($100.0M) | — | $0 | $0 |
| Proceeds from issuance of convertible preferred stock, net of issuance costs | $0 | $191.2M | — | — |
| Proceeds from borrowing under line of credit | $0 | $100.0M | $0 | $0 |
| Fees paid for revolving line of credit financing | $0 | — | — | — |
| Other | $0 | $0 | ($582.0K) | ($6.3M) |
| Net cash provided by (used for) financing activities from continuing operations | $287.3M | ($63.5M) | ($209.5M) | $237.2M |
| Line item | May 29, 2026 · YTD | Feb 27, 2026 · YTD | Nov 28, 2025 · Q1 | May 30, 2025 · YTD |
|---|---|---|---|---|
| Net income | $90.8M | $44.6M | $6.1M | $18.3M |
| Depreciation expense and amortization of intangible assets | $37.9M | $25.6M | $12.8M | $43.0M |
| Amortization of debt issuance costs | $1.9M | $1.3M | $658.0K | $2.8M |
| Stock-based compensation expense | $25.2M | $15.2M | $10.1M | $33.4M |
| Impairment of goodwill | $0 | $0 | — | $11.4M |
| Loss on impairment of non-marketable equity investment | $10.0M | $10.0M | $10.0M | — |
| Gain on disposition of equity investment | ($30.9M) | ($27.0M) | — | — |
| Deferred income taxes, net | $321.0K | $30.0K | $85.0K | $1.1M |
| Other | $526.0K | $903.0K | $2.1M | ($2.5M) |
| Accounts receivable | ($396.4M) | ($62.7M) | ($34.1M) | ($40.8M) |
| Inventories | ($243.1M) | ($67.2M) | $42.0M | ($30.8M) |
| Other assets | $9.9M | ($2.8M) | ($876.0K) | $13.7M |
| Accounts payable and accrued expenses and other liabilities | $505.2M | $148.1M | ($17.8M) | $133.9M |
| Net cash provided by operating activities from continuing operations | $11.2M | — | — | $183.6M |
| Net cash used for operating activities from discontinued operations | $0 | — | — | ($4.1M) |
| Net cash provided by operating activities | $11.2M | $86.0M | $31.1M | $179.5M |
| Capital expenditures and deposits on equipment | ($7.3M) | ($4.5M) | ($2.9M) | ($6.1M) |
| Proceeds from sales and maturities of investment securities | $0 | $0 | $0 | $27.5M |
| Purchases of held-to-maturity investment securities | $0 | $0 | $0 | ($46.1M) |
| Proceeds from disposition of equity investments | $71.7M | $32.2M | — | — |
| Other | ($1.3M) | ($840.0K) | ($521.0K) | ($1.0M) |
| Net cash provided by (used for) investing activities from continuing operations | $63.1M | — | — | ($25.7M) |
| Net cash provided by investing activities from discontinued operations | $0 | — | — | $28.4M |
| Net cash provided by investing activities | $63.1M | $26.9M | ($3.4M) | $2.6M |
| Proceeds from issuance of preferred shares, net of $8,818 paid issuance costs | 0 | 0 | — | 191.2M |
| Repayments of debt | ($20.0M) | ($20.0M) | — | $0 |
| Payments to acquire common stock | ($68.9M) | ($57.1M) | ($20.2M) | ($49.2M) |
| Proceeds from restricted cash advances | $38.0M | — | — | — |
| Payment of preferred stock cash dividends | ($9.1M) | ($6.2M) | ($3.1M) | ($5.1M) |
| Proceeds from issuance of common stock | $10.2M | $5.9M | $3.3M | $7.7M |
| Net cash (used for) provided by financing activities | ($49.8M) | ($77.5M) | ($20.0M) | $144.6M |
| Net increase in cash, cash equivalents and restricted cash | $24.5M | $35.4M | $7.7M | $326.7M |
| Cash, cash equivalents and restricted cash at beginning of period | $454.1M | $454.1M | $454.1M | $383.5M |
| Cash, cash equivalents and restricted cash at end of period | $478.6M | $489.5M | $461.8M | $710.2M |
Penguin Solutions Inc. score and earnings-call analysis · All covered companies
Figures as reported in SEC filings. General information, not investment advice.