Company research
Penguin Solutions, Inc.
CIK 1616533Updated Sep 26, 2026
SecurityPENG · NASDAQ · equity
Name history
SMART Global Holdings, Inc. · through Oct 3, 2024
PENG price & chart
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NASDAQ:PENG on TradingView ↗About the company
Penguin Solutions is a leading provider of memory and AI infrastructure, powering the AI factories of the future for enterprises, sovereign AI initiatives, and neocloud providers. Built on decades of engineering expertise at the intersection of memory and AI/HPC infrastructure, we bring together differentiated infrastructure software, advanced memory, compute systems, end-to-end services, and industry-leading partner solutions in a full-stack AI factory platform designed to help customers deploy and scale AI workloads with speed and precision.
In the news
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Recent filings
144 filing
144 filing
Entry into a Material Definitive Agreement · Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement · Unregistered Sales of Equity Securities · Other Events
Items 1.01, 2.03, 3.02, 8.01, 9.01
10-Q filing
Results of Operations and Financial Condition
Items 2.02, 9.01
Show 5 more recent filings
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements
Items 5.02
144 filing
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements · Regulation FD Disclosure
Items 5.02, 7.01, 9.01
4 filing
4 filing
Financials
FY 2025 · USDSource
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balance sheet · annual statements
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|
| ASSETS | ||||
| AssetsUSD | 1,617,200,000Source | 1,474,506,000Source | 1,505,958,000Source | 1,572,064,000Source |
| Property, Plant and Equipment, NetUSD | 92,603,000Source | 106,548,000Source | 118,734,000Source | 153,935,000Source |
| GoodwillUSD | 145,895,000Source | 161,958,000Source | 161,958,000Source | 74,009,000Source |
| Intangible Assets, Net (Excluding Goodwill)USD | 87,754,000Source | 121,454,000Source | 160,185,000Source | 77,812,000Source |
| Current assets: | ||||
| Cash and Cash Equivalents, at Carrying ValueUSD | 453,754,000Source | 383,147,000Source | 365,563,000Source | 363,065,000Source |
| Accounts Receivable, after Allowance for Credit Loss, CurrentUSD | 307,904,000Source | 251,743,000Source | 219,247,000Source | 410,323,000Source |
| Inventory, NetUSD | 255,182,000Source | 151,213,000Source | 174,977,000Source | 323,084,000Source |
| Assets, CurrentUSD | 1,064,227,000Source | 867,704,000Source | 907,402,000Source | 1,151,865,000Source |
| Operating Lease, Right-of-Use AssetUSD | 58,847,000Source | 60,349,000Source | 68,444,000Source | 77,399,000Source |
| Other Assets, NoncurrentUSD | 68,767,000Source | 71,415,000Source | 15,150,000Source | 37,044,000Source |
| LIABILITIES AND EQUITY | ||||
| LiabilitiesUSD | 1,008,973,000Source | 1,075,298,000Source | 1,276,725,000Source | 1,193,518,000Source |
| Stockholders’ equity: | ||||
| Additional Paid in CapitalUSD | — | — | — | 448,112,000Source |
| Retained Earnings (Accumulated Deficit)USD | 46,709,000Source | 29,985,000Source | 82,457,000Source | 251,344,000Source |
| Accumulated Other Comprehensive Income (Loss), Net of TaxUSD | 18,000Source | 10,000Source | -205,964,000Source | -221,655,000Source |
| Stockholders' Equity Attributable to ParentUSD | 394,246,000Source | 391,381,000Source | 222,475,000Source | 371,611,000Source |
| Additional Paid in Capital, Common StockUSD | 551,712,000Source | 513,335,000Source | 476,703,000Source | 448,112,000Source |
| Liabilities and EquityUSD | 1,617,200,000Source | 1,474,506,000Source | 1,505,958,000Source | 1,572,064,000Source |
| Current liabilities: | ||||
| Liabilities, CurrentUSD | 473,899,000Source | 327,596,000Source | 426,250,000Source | 515,540,000Source |
| Accounts Payable, CurrentUSD | 267,498,000Source | 182,037,000Source | 134,980,000Source | 345,063,000Source |
| Operating Lease, Liability, NoncurrentUSD | 62,736,000Source | 60,542,000Source | 66,407,000Source | 71,754,000Source |
| Other Liabilities, NoncurrentUSD | 30,445,000Source | 29,813,000Source | 29,248,000Source | 14,835,000Source |
| Stockholders' Equity Attributable to Noncontrolling InterestUSD | 11,271,000Source | 7,827,000Source | 6,758,000Source | 6,935,000Source |
| Additional Financial Items | ||||
| Deferred Revenue, CurrentUSD | 73,893,000Source | 63,954,000Source | 48,096,000Source | — |
| Deferred Tax Liabilities, NetUSD | 307,000Source | 4,486,000Source | 791,000Source | — |
| Dividends PayableUSD | 500,000Source | — | — | — |
| Long-term Debt, Excluding Current MaturitiesUSD | — | 657,347,000Source | — | — |
| Long-term Debt, Current MaturitiesUSD | 19,945,000Source | 0Source | 35,618,000Source | 12,025,000Source |
| Long-term Debt, Excluding Current MaturitiesUSD | 441,893,000Source | 657,347,000Source | 754,820,000Source | 591,389,000Source |
| Short-term InvestmentsUSD | 0Source | 6,337,000Source | 25,251,000Source | — |
cash flow · annual statements
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|
| Cash flows from operating activities: | ||||
| Net Income (Loss), Including Portion Attributable to Noncontrolling InterestUSD | 28,835,000Source | -49,933,000Source | -185,694,000Source | 68,592,000Source |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||||
| Depreciation, Depletion and AmortizationUSD | 56,216,000Source | 65,716,000Source | 71,632,000Source | 64,907,000Source |
| Share-based Payment Arrangement, Noncash ExpenseUSD | 41,176,000Source | 43,160,000Source | 39,228,000Source | 40,119,000Source |
| Changes in operating assets and liabilities: | ||||
| Increase (Decrease) in Accounts ReceivableUSD | 56,160,000Source | 32,495,000Source | -162,515,000Source | 97,509,000Source |
| Increase (Decrease) in InventoriesUSD | 101,610,000Source | -23,765,000Source | -95,217,000Source | -39,667,000Source |
| Deferred Income Tax Expense (Benefit)USD | -14,146,000Source | -11,386,000Source | -63,291,000Source | -1,549,000Source |
| Net Cash Provided by (Used in) Operating ActivitiesUSD | 109,084,000Source | 77,185,000Source | 104,387,000Source | 104,931,000Source |
| Cash flows from investing activities: | ||||
| Payments to Acquire Businesses, Net of Cash AcquiredUSD | 0Source | 0Source | 213,073,000Source | 0Source |
| Net Cash Provided by (Used in) Investing ActivitiesUSD | 24,973,000Source | 107,585,000Source | -298,569,000Source | -38,970,000Source |
| Payments for (Proceeds from) Other Investing ActivitiesUSD | 1,660,000Source | 1,272,000Source | 3,675,000Source | 817,000Source |
| Payments to Acquire Property, Plant, and EquipmentUSD | 9,012,000Source | 19,424,000Source | 39,421,000Source | 38,153,000Source |
| Cash flows from financing activities: | ||||
| Payments for Repurchase of Common StockUSD | 52,320,000Source | 21,309,000Source | 24,671,000Source | 57,231,000Source |
| Net Cash Provided by (Used in) Financing ActivitiesUSD | -63,464,000Source | -210,101,000Source | 236,416,000Source | 73,879,000Source |
| Proceeds from (Payments for) Other Financing ActivitiesUSD | 0Source | -582,000Source | -6,252,000Source | -3,841,000Source |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate EffectUSD | 70,593,000Source | -26,587,000Source | 46,999,000Source | 140,079,000Source |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash EquivalentsUSD | 454,070,000Source | 383,477,000Source | 410,064,000Source | 363,065,000Source |
| Supplemental disclosure of cash flow information: | ||||
| Interest Paid, Excluding Capitalized Interest, Operating ActivitiesUSD | 26,200,000Source | 47,700,000Source | 41,800,000Source | 12,798,000Source |
| Income Taxes Paid, NetUSD | 34,500,000Source | 13,100,000Source | 35,500,000Source | 13,811,000Source |
| Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash EquivalentsUSD | 0Source | -1,256,000Source | 4,765,000Source | 239,000Source |
| Additional Financial Items | ||||
| Share-based Payment Arrangement, ExpenseUSD | 41,176,000Source | 43,160,000Source | 39,228,000Source | 40,119,000Source |
| Amortization of Debt Issuance CostsUSD | 3,493,000Source | 3,724,000Source | — | — |
| Amortization of Debt Issuance Costs and DiscountsUSD | — | — | 4,064,000Source | 10,263,000Source |
| Amortization of Intangible AssetsUSD | 35,600,000Source | 40,000,000Source | 45,100,000Source | 23,800,000Source |
| DepreciationUSD | 20,579,000Source | 25,720,000Source | 26,500,000Source | 41,100,000Source |
| Dividends PayableUSD | 500,000Source | — | — | — |
| Foreign Currency Transaction Gain (Loss), before TaxUSD | — | — | — | -4,728,000Source |
| Gain (Loss) on Disposition of AssetsUSD | -76,000Source | -179,000Source | 2,986,000Source | — |
| Gain (Loss) on Sale of DerivativesUSD | — | — | — | 0Source |
| Gain (Loss) on Extinguishment of DebtUSD | -2,908,000Source | -22,763,000Source | -15,924,000Source | -653,000Source |
| GoodwillUSD | 145,895,000Source | 161,958,000Source | 161,958,000Source | 74,009,000Source |
| Goodwill, Impairment LossUSD | 16,063,000Source | 0Source | 19,092,000Source | 0Source |
| Income (Loss) from Continuing Operations, Net of Tax, Attributable to ParentUSD | 25,391,000Source | -44,324,000Source | 7,858,000Source | — |
| Income (Loss) from Continuing Operations, Net of Tax, Including Portion Attributable to Noncontrolling InterestUSD | 28,835,000Source | -41,785,000Source | 9,690,000Source | — |
| Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling InterestUSD | 0Source | -8,148,000Source | -195,384,000Source | — |
| Income (Loss) from Discontinued Operations, Net of Tax, Attributable to ParentUSD | 0Source | -8,148,000Source | -195,384,000Source | — |
| Income Tax Expense (Benefit)USD | 20,066,000Source | 10,618,000Source | -49,203,000Source | 19,911,000Source |
| Net Income (Loss) Attributable to ParentUSD | 25,391,000Source | -52,472,000Source | -187,526,000Source | 66,557,000Source |
| Net Income (Loss) Attributable to Noncontrolling InterestUSD | 3,444,000Source | 2,539,000Source | 1,832,000Source | 2,035,000Source |
| Net Income (Loss) Available to Common Stockholders, BasicUSD | 15,461,000Source | — | — | — |
| Nonoperating Income (Expense)USD | -9,234,000Source | -49,462,000Source | -48,258,000Source | -26,006,000Source |
| Operating ExpensesUSD | 336,139,000Source | 322,481,000Source | 406,426,000Source | 338,711,000Source |
| Other Nonoperating Income (Expense)USD | -1,929,000Source | -21,084,000Source | -11,837,000Source | -4,837,000Source |
| Other Operating Income (Expense), NetUSD | -2,098,000Source | -7,064,000Source | -7,047,000Source | — |
| Proceeds from Issuance of Common StockUSD | 8,804,000Source | 9,809,000Source | 43,045,000Source | 12,140,000Source |
income statement · annual statements
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|
| Total RevenueUSD | 1,368,794,000Source | 1,170,796,000Source | 1,441,250,000Source | 1,819,352,000Source |
| Cost of RevenueUSD | 974,520,000Source | 830,020,000Source | 1,026,079,000Source | 1,366,132,000Source |
| Selling, General and Administrative ExpenseUSD | 238,177,000Source | 233,880,000Source | 260,722,000Source | 220,031,000Source |
| Operating Income (Loss)USD | 58,135,000Source | 18,295,000Source | 8,745,000Source | 114,509,000Source |
| Other Nonoperating Income (Expense)USD | -1,929,000Source | -21,084,000Source | -11,837,000Source | -4,837,000Source |
| Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling InterestUSD | 48,901,000Source | -31,167,000Source | -39,513,000Source | 88,503,000Source |
| Income Tax Expense (Benefit)USD | 20,066,000Source | 10,618,000Source | -49,203,000Source | 19,911,000Source |
| Net Income (Loss) Attributable to Noncontrolling InterestUSD | 3,444,000Source | 2,539,000Source | 1,832,000Source | 2,035,000Source |
| Net Income (Loss) Attributable to ParentUSD | 25,391,000Source | -52,472,000Source | -187,526,000Source | 66,557,000Source |
| Earnings Per Share, BasicUSD per share | 0.29Source | -1Source | -3.78Source | 1.35Source |
| Earnings Per Share, DilutedUSD per share | 0.28Source | -1Source | -3.65Source | 1.22Source |
| Weighted Average Number of Shares Outstanding, Basicshares | 53,154,000Source | 52,428,000Source | 49,566,000Source | 49,467,000Source |
| Weighted Average Number of Shares Outstanding, Dilutedshares | 54,368,000Source | 52,428,000Source | 51,322,000Source | 54,443,000Source |
| Additional Financial Items | ||||
| Amortization of Intangible AssetsUSD | 35,600,000Source | 40,000,000Source | 45,100,000Source | 23,800,000Source |
| Current Income Tax Expense (Benefit)USD | 34,212,000Source | 22,004,000Source | 14,088,000Source | 21,460,000Source |
| Foreign Currency Transaction Gain (Loss), before TaxUSD | — | — | — | -4,728,000Source |
| Goodwill, Impairment LossUSD | 16,063,000Source | 0Source | 19,092,000Source | 0Source |
| Gross ProfitUSD | 394,274,000Source | 340,776,000Source | 415,171,000Source | 453,220,000Source |
| Income (Loss) from Continuing Operations, Net of Tax, Attributable to ParentUSD | 25,391,000Source | -44,324,000Source | 7,858,000Source | — |
| Income (Loss) from Continuing Operations before Income Taxes, DomesticUSD | 39,438,000Source | 38,246,000Source | 20,118,000Source | 12,405,000Source |
| Income (Loss) from Continuing Operations, Net of Tax, Including Portion Attributable to Noncontrolling InterestUSD | 28,835,000Source | -41,785,000Source | 9,690,000Source | — |
| Income (Loss) from Continuing Operations, Per Basic ShareUSD per share | 0.29Source | -0.85Source | 0.16Source | — |
| Income (Loss) from Continuing Operations, Per Diluted ShareUSD per share | 0.28Source | -0.85Source | 0.15Source | — |
| Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling InterestUSD | 0Source | -8,148,000Source | -195,384,000Source | — |
| Income (Loss) from Discontinued Operations, Net of Tax, Attributable to ParentUSD | 0Source | -8,148,000Source | -195,384,000Source | — |
| Interest Income (Expense), NetUSD | — | — | -36,421,000Source | -21,169,000Source |
| Interest Income (Expense), Nonoperating, NetUSD | -7,305,000Source | -28,378,000Source | — | — |
| Net Income (Loss) Available to Common Stockholders, BasicUSD | 15,461,000Source | — | — | — |
| Nonoperating Income (Expense)USD | -9,234,000Source | -49,462,000Source | -48,258,000Source | -26,006,000Source |
| Operating ExpensesUSD | 336,139,000Source | 322,481,000Source | 406,426,000Source | 338,711,000Source |
| Other Operating Income (Expense), NetUSD | -2,098,000Source | -7,064,000Source | -7,047,000Source | — |
| Preferred Stock Dividends, Income Statement ImpactUSD | 8,667,000Source | — | — | — |
| Research and Development ExpenseUSD | 79,801,000Source | 81,537,000Source | 90,565,000Source | 77,356,000Source |
| Undistributed Earnings (Loss) Allocated to Participating Securities, BasicUSD | 1,263,000Source | — | — | — |
Filing attachments
d103073dex41.htm · 8-K · 2026-07-17
EX-4.1 2 d103073dex41.htm EX-4.1 EX-4.1 Exhibit 4.1 PENGUIN SOLUTIONS, INC. and U.S. BANK TRUST COMPANY, NATIONAL ASSOCIATION as Trustee INDENTURE Dated as of July 17, 2026 0.00% Convertible Senior Notes due 2031 TABLE OF CONTENTS Page Article 1. Definitions; Rules of Constructio…
Read attachment ↗d103073dex991.htm · 8-K · 2026-07-17
EX-99.1 4 d103073dex991.htm EX-99.1 EX-99.1 Exhibit 99.1 Penguin Solutions Announces Proposed Private Offering of Convertible Notes and Refinancing to Enhance Capital Structure FREMONT, Calif., July 13, 2026 (BUSINESS WIRE) - Penguin Solutions, Inc. (“Penguin,” “we” or the “Company”) (Nasdaq: PENG) today announced it intends to offer $650.0 million in aggregate principal amount of convertible senior notes due 2031 (the “Notes”) to qualified institutional buyers as defined in Rule 144A und…
Read attachment ↗d103073dex992.htm · 8-K · 2026-07-17
EX-99.2 5 d103073dex992.htm EX-99.2 EX-99.2 Exhibit 99.2 Penguin Solutions Announces Pricing of Private Offering of $650.0 Million of 0.00% Convertible Notes and Refinancing to Enhance Capital Structure Enhances capital structure and extends debt maturities through opportunistic refinancing of certain existing convertible notes Reduces potential dilution upon conversion of notes through capped call transactions Strengthens financial flexibility FREMONT, Calif., July 14, 2026 (B…
Read attachment ↗pengq3-26form8xkxex991.htm · 8-K · 2026-07-07
EX-99.1 2 pengq3-26form8xkxex991.htm EX-99.1 Document Exhibit 99.1 Press Release FOR IMMEDIATE RELEASE PENGUIN SOLUTIONS REPORTS Q3 FISCAL 2026 FINANCIAL RESULTS Delivers Record Quarterly Results and Raises Full-Year Outlook for Both Net Sales and EPS, Reflecting AI-Driven Demand Fremont, Calif. - July 7, 2026 - Penguin Solutions, Inc. (“Penguin Solutions,” “we,” “us,” or the “Company”) (Nasdaq: PENG) today reported financial results for the third quarter of fiscal 2026. Third Quarter…
Read attachment ↗d104493dex991.htm · 8-K · 2026-06-01
EX-99.1 2 d104493dex991.htm EX-99.1 EX-99.1 Exhibit 99.1 Press Release Penguin Solutions Announces CFO Transition Company Reaffirms Full-Year Fiscal 2026 Outlook with Both Net Sales and Diluted EPS Expected to Be at the High End of Outlook Range for Full-Year Fiscal 2026 Supported by Agentic AI-Driven Demand Fremont, Calif. - June 1, 2026 - Penguin Solutions, Inc. (Nasdaq: PENG), the AI Factory Platform Company, today announced that Nate Olmstead, Senior Vice President and Chief Finan…
Read attachment ↗form8-k2026x05x18xex991.htm · 8-K · 2026-05-18
EX-99.1 2 form8-k2026x05x18xex991.htm EX-99.1 Document Exhibit 99.1 Press Release Penguin Solutions Strengthens AI Factory Platform Strategy with Appointment of David Heard to Board of Directors FREMONT, Calif. - May 18, 2026 - Penguin Solutions, Inc. (“Penguin Solutions” or the “Company”) (Nasdaq: PENG), the AI Factory Platform company, today announced that David Heard, President of Network Infrastructure at Nokia, has been appointed to Penguin Solutions’ board of directors, effective i…
Read attachment ↗