Penguin Solutions Inc
For the period ended Aug 30, 2024. Filed Oct 24, 2024.
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FY2024 · Filed Oct 24, 2024
PENG$44.64-2.3%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Cash Flows
| Year Ended | August 30,2024 | August 25,2023 | August 26,2022 |
|---|---|---|---|
| Cash flows from operating activities | |||
| Net income (loss) | $(49,933) | $(185,694) | $68,592 |
| Net income (loss) from discontinued operations | (8,148) | (195,384) | 44,185 |
| Net income (loss) from continuing operations | (41,785) | 9,690 | 24,407 |
| Adjustments to reconcile net income (loss) from continuing operations to net cash provided by operating activities: | |||
| Depreciation expense and amortization of intangible assets | 65,716 | 71,632 | 46,665 |
| Amortization of debt issuance costs | 3,724 | 4,064 | 10,263 |
| Share-based compensation expense | 43,160 | 39,228 | 37,284 |
| Impairment of goodwill | — | 19,092 | — |
| Change in fair value of contingent consideration | — | 29,000 | 41,324 |
| Loss on extinguishment or prepayment of debt | 22,763 | 15,924 | 653 |
| Deferred income taxes, net | (11,042) | (63,603) | (20) |
| Other | (2,689) | 4,008 | 582 |
| Changes in operating assets and liabilities: | |||
| Accounts receivable | (32,495) | 162,515 | (97,801) |
| Inventories | 23,765 | 95,217 | 30,733 |
| Other assets | 9,098 | 6,767 | (10,321) |
| Accounts payable and accrued expenses and other liabilities | 54,306 | (256,133) | (44,907) |
| Payment of acquisition-related contingent consideration | (29,000) | (73,724) | — |
| Net cash provided by operating activities from continuing operations | 105,521 | 63,677 | 38,862 |
| Net cash provided by (used for) operating activities from discontinued operations | (28,336) | 40,710 | 66,069 |
| Net cash provided by operating activities | 77,185 | 104,387 | 104,931 |
| Cash flows from investing activities | |||
| Capital expenditures and deposits on equipment | (19,424) | (39,421) | (20,359) |
| Proceeds from maturities of investment securities | 39,395 | — | — |
| Purchases of held-to-maturity investment securities | (19,503) | (25,015) | — |
| Purchases of non-marketable investments | (11,000) | (4,150) | — |
| Acquisition of business, net of cash acquired | — | (213,073) | — |
| Other | (1,272) | 475 | (875) |
| Net cash used for investing activities from continuing operations | (11,804) | (281,184) | (21,234) |
| Net cash provided by (used for) investing activities from discontinued operations | 119,389 | (17,385) | (17,736) |
| Net cash provided by (used for) investing activities | 107,585 | (298,569) | (38,970) |
| Cash flows from financing activities | |||
| Repayments of debt | (351,337) | (21,634) | (126,719) |
| Payments to acquire ordinary shares | (21,309) | (24,671) | (57,231) |
| Payment of acquisition-related contingent consideration | (21,000) | (28,100) | — |
| Net cash paid for settlement and purchase of capped calls | (16,300) | (4,304) | — |
| Distribution to noncontrolling interest | (1,470) | (2,009) | (3,773) |
| Proceeds from debt | 192,694 | 295,287 | 270,775 |
| Proceeds from issuance of ordinary shares | 9,809 | 43,045 | 12,140 |
| Payment of premium in connection with convertible note exchange | — | (14,141) | — |
| Repayments of borrowings under line of credit | — | — | (109,000) |
| Proceeds from borrowing under line of credit | — | — | 84,000 |
| Other | (582) | (6,252) | (9,547) |
| Net cash provided by (used for) financing activities from continuing operations | (209,495) | 237,221 | 60,645 |
| Net cash provided by (used for) financing activities from discontinued operations | (606) | (805) | 13,234 |
| Net cash provided by (used for) financing activities | (210,101) | 236,416 | 73,879 |
| Effect of changes in currency exchange rates | (1,256) | 4,765 | 239 |
| Net increase (decrease) in cash, cash equivalents and restricted cash | (26,587) | 46,999 | 140,079 |
| Cash, cash equivalents and restricted cash at beginning of period | 410,064 | 363,065 | 222,986 |
| Cash, cash equivalents and restricted cash at end of period | $383,477 | $410,064 | $363,065 |
| Cash, cash equivalents and restricted cash at end of period: | |||
| Continuing operations | $383,477 | $365,563 | $313,328 |
| Discontinued operations | — | 44,501 | 49,737 |
| $383,477 | $410,064 | $363,065 | |
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