Penguin Solutions, Inc. PENG
At Penguin Solutions, we understand the boundless potential of technology and support our customers in turning cutting-edge ideas into outcomes—faster, and at any scale.
With over two decades of experience as trusted advisors, Penguin Solutions is an end-to-end technology company solving complex challenges in computing, memory and LED solutions. Penguin Solutions designs, builds, deploys and manages high-performance, high-availability enterprise solutions, allowing customers to achieve their breakthrough innovations.
We do this in partnership with our customers—customizing solutions while facilitating rapid time to value, optimized long-term performance, high availability, and greater return on investment.
Valuation FY2025 figures against the last close
Where the revenue comes from as reported in the latest 10-K
Revenue by geography
- United States
- China
- Other
- Mexico
- Europe
| Region | FY2025 | FY2024 |
|---|---|---|
| United States | $776.5M | $672.8M |
| China | $186.8M | $190.7M |
| Other | $161.1M | $165.8M |
| Mexico | $147.3M | $27.3M |
| Europe | $97.0M | $114.3M |
As the company reported it, from the “Geographic Information (Details)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Regions are the filer's own and are not mapped onto a standard list — one company's “Americas” and another's “United States” are different areas, and making them look comparable would mean making at least one of them wrong. Slices under 1% are folded into “Other”.
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.37B | $1.17B | $1.44B | $1.40B | $1.06B | $1.12B | $1.21B | $1.29B | $761.3M | $534.4M |
| Cost of revenue | $974.5M | $830.0M | $1.03B | $1.00B | $817.6M | $906.0M | $974.5M | $997.2M | $599.0M | $427.5M |
| Gross profit | $394.3M | $340.8M | $415.2M | $391.0M | $238.0M | $216.4M | $237.5M | $291.6M | $162.2M | $106.9M |
| R&D | $79.8M | $81.5M | $90.6M | $77.5M | $59.9M | $52.1M | $47.9M | $39.8M | $38.2M | $38.1M |
| SG&A | $238.2M | $233.9M | $260.7M | $204.8M | $158.2M | $123.0M | $103.2M | $84.5M | $66.8M | $57.5M |
| Total operating expenses | $336.1M | $322.5M | $406.4M | $323.9M | $253.7M | $175.1M | $148.4M | $121.4M | $108.4M | $100.7M |
| Operating income | $58.1M | $18.3M | $8.7M | $67.2M | -$15.7M | $41.3M | $89.1M | $170.2M | $53.9M | $6.2M |
| Interest expense | — | — | $36.4M | $24.3M | $17.1M | $15.0M | $20.7M | $19.1M | $29.2M | $25.6M |
| Pre-tax income | $48.9M | -$31.2M | -$39.5M | $42.5M | -$32.3M | $9.4M | $66.2M | $137.8M | $2.1M | -$17.5M |
| Income tax | $20.1M | $10.6M | $49.2M | $18.1M | $9.7M | $10.5M | $14.9M | $18.3M | $9.9M | $2.4M |
| Net income | $25.4M | -$52.5M | -$187.5M | $66.6M | $21.3M | -$1.1M | $51.3M | $119.5M | -$7.8M | -$20.0M |
| EPS, basic | 0.29 | -1.00 | -3.78 | 1.35 | 0.44 | -0.02 | 2.24 | 5.42 | -0.49 | -1.44 |
| EPS, diluted | 0.28 | -1.00 | -3.65 | 1.22 | 0.44 | -0.02 | 2.19 | 5.17 | -0.49 | -1.44 |
| Shares, diluted (wtd. avg.) | 54.4M | 52.4M | 51.3M | 54.4M | 48.6M | 48.0M | 23.5M | 23.1M | 15.8M | 13.8M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $453.8M | $383.1M | $410.1M | $363.1M | $223.0M | $150.8M | $98.1M | $37.2M | $29.5M | $65.4M |
| Short-term investments | $0 | $6.3M | $25.3M | $0 | — | — | — | — | — | — |
| Receivables | $307.9M | $251.7M | $219.2M | $355.0M | $313.4M | $215.9M | $217.4M | $237.2M | $183.3M | $141.0M |
| Inventory | $255.2M | $151.2M | $175.0M | $263.8M | $363.6M | $163.0M | $118.7M | $221.4M | $127.1M | $103.1M |
| Total current assets | $1.06B | $867.7M | $907.4M | $1.15B | $950.8M | $556.7M | $472.3M | $522.0M | $347.0M | $319.3M |
| Property, plant and equipment | $92.6M | $106.5M | $118.7M | $96.7M | $156.3M | $54.7M | $68.3M | $56.6M | $55.2M | $57.6M |
| Goodwill | $145.9M | $162.0M | $162.0M | $55.1M | $74.3M | $74.0M | $81.4M | $45.4M | $46.0M | $45.0M |
| Other intangibles | $87.8M | $121.5M | $160.2M | $77.8M | $101.1M | $55.7M | $69.3M | $26.3M | $5.1M | $16.9M |
| Total assets | $1.62B | $1.47B | $1.51B | $1.57B | $1.34B | $786.6M | $704.1M | $672.8M | $480.0M | $458.7M |
| Accounts payable | $267.5M | $182.0M | $135.0M | $293.2M | $429.6M | $224.7M | $164.9M | $223.2M | $189.7M | $198.0M |
| Short-term debt | $19.9M | $0 | $35.6M | $8.5M | $25.4M | — | $24.1M | $27.4M | $22.8M | $17.1M |
| Total current liabilities | $473.9M | $327.6M | $426.2M | $515.5M | $583.8M | $282.5M | $237.9M | $295.8M | $239.9M | $229.2M |
| Long-term debt | $441.9M | $657.3M | $754.8M | $575.7M | $340.5M | $195.6M | $182.4M | $184.2M | $154.4M | $225.6M |
| Total liabilities | $1.01B | $1.08B | $1.28B | $1.19B | $1.03B | $504.5M | $430.7M | $485.6M | $397.6M | $459.9M |
| Retained earnings | $46.7M | $30.0M | $82.5M | $251.3M | $184.8M | $163.5M | $164.6M | $112.3M | -$7.2M | $586.0K |
| Total equity | $394.2M | $391.4M | $229.2M | $378.5M | $318.9M | $282.1M | $273.5M | $187.1M | $82.4M | -$1.2M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $109.1M | $77.2M | $104.4M | $104.9M | $153.3M | $87.2M | $169.7M | $67.9M | -$933.0K | $15.1M |
| Depreciation and amortisation | $56.2M | $65.7M | $71.6M | $46.7M | $34.9M | $36.4M | $29.2M | $26.2M | $33.2M | $31.5M |
| Stock-based compensation | $41.2M | $43.2M | $39.2M | $37.3M | $31.0M | $18.7M | $18.2M | $10.6M | $5.4M | $3.9M |
| Capital expenditure | $9.0M | $19.4M | $39.4M | $20.4M | $16.7M | $32.4M | $33.4M | $25.7M | $18.7M | $13.8M |
| Investing cash flow | $25.0M | $107.6M | -$298.6M | -$39.0M | -$84.2M | -$32.0M | -$109.4M | -$67.7M | -$18.0M | -$13.4M |
| Financing cash flow | -$63.5M | -$210.1M | $236.4M | $73.9M | $2.8M | $12.6M | $100.0K | $7.9M | -$17.0M | -$10.9M |
| Buybacks | $52.3M | $21.3M | $24.7M | $57.2M | $48.5M | $749.0K | $520.0K | — | — | $124.0K |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001616533-25-000061.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $534.4M | $761.3M | $1.29B | $1.21B | $1.12B | $1.06B | $1.40B | $1.44B | $1.17B | $1.37B |
| Gross profit | $106.9M | $162.2M | $291.6M | $237.5M | $216.4M | $238.0M | $391.0M | $415.2M | $340.8M | $394.3M |
| Net income | -$20.0M | -$7.8M | $119.5M | $51.3M | -$1.1M | $21.3M | $66.6M | -$187.5M | -$52.5M | $25.4M |
Recent filings and events
- Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
- New debt or obligation The company has taken on debt or a comparable obligation. Item 2.03
- Unregistered share sale Shares issued outside a registered offering. Dilution, and for a small company often the way it is funded. Item 3.02
- Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
- Officer or director change Item 5.02
- Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
- Officer or director change Item 5.02
- Regulation FD disclosure Item 7.01
- Results announced Item 2.02
- Regulation FD disclosure Item 7.01
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
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