Here are the 10-K annual reports from Penguin Solutions, Inc. (PENG) in our archive since June 2025, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-K covers the audited annual report, with the full financial statements, so if you follow PENG and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full PENG filings page.
Penguin Solutions, Inc. (PENG) reported fiscal 2026 net sales of $1,731.5 million, up 26.5% from fiscal 2025, and net income attributable to Penguin Solutions of $180.6 million, compared with $25.4 million. Integrated Memory sales rose 99.0% to $924.0 million, primarily as AI-driven demand supported higher DRAM and Flash pricing and volume. Advanced Computing sales fell 13.8% to $558.8 million, while Optimized LED sales declined 2.9% to $248.7 million. Gross margin was 27.7%, down from 28.8%.
The company fully discontinued Penguin Edge in fiscal 2026's fourth quarter and sold its remaining 19% interest in SMART Brazil on March 30, 2026. Cash and cash equivalents were $647.2 million at August 28, 2026. Continuing operations used $151.9 million in operating cash, versus providing $113.2 million in fiscal 2025; working-capital changes included higher inventories and receivables, partly offset by higher payables and accrued liabilities. In July 2026, Penguin Solutions issued $750.0 million of 0.00% convertible senior notes due 2031, with approximately $735.2 million in net proceeds. A portion was used to repay the $100.0 million outstanding under its revolving facility, which had no principal outstanding at August 28, 2026.
Penguin Solutions, Inc. (PENG) filed its annual report outlining a rebranded, multi-segment tech platform spanning Advanced Computing, Integrated Memory, and Optimized LED. The company completed a U.S. Domestication on June 30, 2025 and its common stock continues trading on Nasdaq as PENG. The divestiture of SMART Brazil is presented as discontinued operations, sharpening focus on core segments.
Segment performance shows scale across end markets. Advanced Computing net sales were $648.4 million (2025), $554.6 million (2024), and $749.7 million (2023), supported by HPC/AI solutions and Stratus fault-tolerant platforms. Integrated Memory delivered $464.2 million (2025), $356.4 million (2024), and $443.3 million (2023). Optimized LED posted $256.1 million (2025), $259.8 million (2024), and $248.3 million (2023). R&D expenses were $79.8 million (2025). The company expects to discontinue its Penguin Edge product portfolio by approximately the end of calendar 2025. As of October 15, 2025, shares outstanding were 52,859,335; the aggregate market value held by non‑affiliates was about $1.05 billion as of February 28, 2025. Sales to the ten largest customers represented 66%, 58%, and 60% of total net sales in 2025, 2024, and 2023.