GAAP (1) | Non-GAAP (2) | ||||||||||||||||||||||
(in thousands, except per share amounts) | FY24 | FY23 | FY24 | FY23 | |||||||||||||||||||
Net sales: | |||||||||||||||||||||||
Intelligent Platform Solutions | $ | 554,552 | $ | 749,708 | $ | 554,552 | $ | 749,708 | |||||||||||||||
Memory Solutions | 356,426 | 443,264 | 356,426 | 443,264 | |||||||||||||||||||
LED Solutions | 259,818 | 248,278 | 259,818 | 248,278 | |||||||||||||||||||
Total net sales | $ | 1,170,796 | $ | 1,441,250 | $ | 1,170,796 | $ | 1,441,250 | |||||||||||||||
Gross profit | $ | 340,776 | $ | 415,171 | $ | 373,981 | $ | 456,578 | |||||||||||||||
Operating income | 18,295 | 8,745 | 120,257 | 179,794 | |||||||||||||||||||
Net income (loss) attributable to Penguin Solutions | (44,324) | 7,858 | 66,907 | 127,681 | |||||||||||||||||||
Diluted earnings (loss) per share | $ | (0.85) | $ | 0.15 | $ | 1.25 | $ | 2.52 |
GAAP (1) | Non-GAAP (2) | ||||||||||||||||||||||||||||||||||
(in thousands, except per share amounts) | Q4 FY24 | Q3 FY24 | Q4 FY23 | Q4 FY24 | Q3 FY24 | Q4 FY23 | |||||||||||||||||||||||||||||
Net sales: | |||||||||||||||||||||||||||||||||||
Intelligent Platform Solutions | $ | 149,355 | $ | 144,968 | $ | 145,432 | $ | 149,355 | $ | 144,968 | $ | 145,432 | |||||||||||||||||||||||
Memory Solutions | 95,832 | 91,629 | 105,181 | 95,832 | 91,629 | 105,181 | |||||||||||||||||||||||||||||
LED Solutions | 65,961 | 63,983 | 66,045 | 65,961 | 63,983 | 66,045 | |||||||||||||||||||||||||||||
Total net sales | $ | 311,148 | $ | 300,580 | $ | 316,658 | $ | 311,148 | $ | 300,580 | $ | 316,658 | |||||||||||||||||||||||
Gross profit | $ | 87,086 | $ | 88,906 | $ | 91,585 | $ | 96,007 | $ | 96,962 | $ | 100,300 | |||||||||||||||||||||||
Operating income (loss) | 8,791 | 11,511 | (1,639) | 33,739 | 33,325 | 30,295 | |||||||||||||||||||||||||||||
Net income (loss) attributable to Penguin Solutions | (24,547) | 5,616 | 64,841 | 20,007 | 20,221 | 18,406 | |||||||||||||||||||||||||||||
Diluted earnings (loss) per share | $ | (0.46) | $ | 0.10 | $ | 1.17 | $ | 0.37 | $ | 0.37 | $ | 0.35 |
GAAP Outlook | Adjustments | Non-GAAP Outlook | ||||||||||||
Net sales | 15% YoY Growth +/- 5% | — | 15% YoY Growth +/- 5% | |||||||||||
Gross margin | 30% +/- 1% | 2% | (A) | 32% +/- 1% | ||||||||||
Operating expenses | $335 million +/- $15 million | ($60) million | (B)(C) | $275 million +/- $15 million | ||||||||||
Diluted earnings per share | $0.30 +/- $0.20 | $1.40 | (A)(B)(C)(D) | $1.70 +/- $0.20 | ||||||||||
Diluted shares | 56.3 million | — | 56.3 million |
Non-GAAP adjustments (in millions) | |||||
(A) Share-based compensation and amortization of acquisition-related intangibles included in cost of sales | $ | 31 | |||
(B) Share-based compensation and amortization of acquisition-related intangibles included in R&D and SG&A | 48 | ||||
(C) Other adjustments | 12 | ||||
(D) Estimated income tax effects | (12) | ||||
$ | 79 |
Three Months Ended | Year Ended | ||||||||||||||||||||||||||||
August 30, 2024 | May 31, 2024 | August 25, 2023 | August 30, 2024 | August 25, 2023 | |||||||||||||||||||||||||
Net sales: | |||||||||||||||||||||||||||||
Intelligent Platform Solutions | $ | 149,355 | $ | 144,968 | $ | 145,432 | $ | 554,552 | $ | 749,708 | |||||||||||||||||||
Memory Solutions | 95,832 | 91,629 | 105,181 | 356,426 | 443,264 | ||||||||||||||||||||||||
LED Solutions | 65,961 | 63,983 | 66,045 | 259,818 | 248,278 | ||||||||||||||||||||||||
Total net sales | 311,148 | 300,580 | 316,658 | 1,170,796 | 1,441,250 | ||||||||||||||||||||||||
Cost of sales | 224,062 | 211,674 | 225,073 | 830,020 | 1,026,079 | ||||||||||||||||||||||||
Gross profit | 87,086 | 88,906 | 91,585 | 340,776 | 415,171 | ||||||||||||||||||||||||
Operating expenses: | |||||||||||||||||||||||||||||
Research and development | 19,941 | 19,681 | 20,883 | 81,537 | 90,565 | ||||||||||||||||||||||||
Selling, general and administrative | 58,029 | 57,249 | 65,026 | 233,880 | 260,722 | ||||||||||||||||||||||||
Impairment of goodwill | — | — | 1,534 | — | 19,092 | ||||||||||||||||||||||||
Change in fair value of contingent consideration | — | — | 4,100 | — | 29,000 | ||||||||||||||||||||||||
Other operating (income) expense | 325 | 465 | 1,681 | 7,064 | 7,047 | ||||||||||||||||||||||||
Total operating expenses | 78,295 | 77,395 | 93,224 | 322,481 | 406,426 | ||||||||||||||||||||||||
Operating income (loss) | 8,791 | 11,511 | (1,639) | 18,295 | 8,745 | ||||||||||||||||||||||||
Non-operating (income) expense: | |||||||||||||||||||||||||||||
Interest expense, net | 5,403 | 6,167 | 9,183 | 28,378 | 36,421 | ||||||||||||||||||||||||
Other non-operating (income) expense | 20,971 | 441 | (462) | 21,084 | 11,837 | ||||||||||||||||||||||||
Total non-operating (income) expense | 26,374 | 6,608 | 8,721 | 49,462 | 48,258 | ||||||||||||||||||||||||
Income (loss) before taxes | (17,583) | 4,903 | (10,360) | (31,167) | (39,513) | ||||||||||||||||||||||||
Income tax provision (benefit) | 6,209 | (1,323) | (75,890) | 10,618 | (49,203) | ||||||||||||||||||||||||
Net income (loss) from continuing operations | (23,792) | 6,226 | 65,530 | (41,785) | 9,690 | ||||||||||||||||||||||||
Net loss from discontinued operations | — | — | (205,685) | (8,148) | (195,384) | ||||||||||||||||||||||||
Net income (loss) | (23,792) | 6,226 | (140,155) | (49,933) | (185,694) | ||||||||||||||||||||||||
Net income attributable to noncontrolling interest | 755 | 610 | 689 | 2,539 | 1,832 | ||||||||||||||||||||||||
Net income (loss) attributable to Penguin Solutions | $ | (24,547) | $ | 5,616 | $ | (140,844) | $ | (52,472) | $ | (187,526) | |||||||||||||||||||
Basic earnings (loss) per share: | |||||||||||||||||||||||||||||
Continuing operations | $ | (0.46) | $ | 0.11 | $ | 1.28 | $ | (0.85) | $ | 0.16 | |||||||||||||||||||
Discontinued operations | — | — | (4.05) | (0.15) | (3.94) | ||||||||||||||||||||||||
$ | (0.46) | $ | 0.11 | $ | (2.77) | $ | (1.00) | $ | (3.78) | ||||||||||||||||||||
Diluted earnings (loss) per share: | |||||||||||||||||||||||||||||
Continuing operations | $ | (0.46) | $ | 0.10 | $ | 1.17 | $ | (0.85) | $ | 0.15 | |||||||||||||||||||
Discontinued operations | — | — | (3.71) | (0.15) | (3.80) | ||||||||||||||||||||||||
$ | (0.46) | $ | 0.10 | $ | (2.54) | $ | (1.00) | $ | (3.65) | ||||||||||||||||||||
Shares used in per share calculations: | |||||||||||||||||||||||||||||
Basic | 53,071 | 52,570 | 50,807 | 52,428 | 49,566 | ||||||||||||||||||||||||
Diluted | 53,071 | 54,283 | 55,523 | 52,428 | 51,322 |
Three Months Ended | Year Ended | ||||||||||||||||||||||||||||
August 30, 2024 | May 31, 2024 | August 25, 2023 | August 30, 2024 | August 25, 2023 | |||||||||||||||||||||||||
GAAP gross profit | $ | 87,086 | $ | 88,906 | $ | 91,585 | $ | 340,776 | $ | 415,171 | |||||||||||||||||||
Share-based compensation expense | 1,847 | 1,760 | 1,789 | 7,113 | 6,334 | ||||||||||||||||||||||||
Amortization of acquisition-related intangibles | 5,909 | 5,909 | 5,876 | 23,656 | 25,661 | ||||||||||||||||||||||||
Flow-through of inventory step up | — | — | — | — | 2,599 | ||||||||||||||||||||||||
Cost of sales-related restructure | 865 | 387 | 1,050 | 2,136 | 6,813 | ||||||||||||||||||||||||
Non-GAAP gross profit | $ | 96,007 | $ | 96,962 | $ | 100,300 | $ | 373,981 | $ | 456,578 | |||||||||||||||||||
GAAP gross margin | 28.0 | % | 29.6 | % | 28.9 | % | 29.1 | % | 28.8 | % | |||||||||||||||||||
Effect of adjustments | 2.9 | % | 2.7 | % | 2.8 | % | 2.8 | % | 2.9 | % | |||||||||||||||||||
Non-GAAP gross margin | 30.9 | % | 32.3 | % | 31.7 | % | 31.9 | % | 31.7 | % | |||||||||||||||||||
GAAP operating expenses | $ | 78,295 | $ | 77,395 | $ | 93,224 | $ | 322,481 | $ | 406,426 | |||||||||||||||||||
Share-based compensation expense | (8,512) | (9,432) | (7,785) | (36,047) | (32,894) | ||||||||||||||||||||||||
Amortization of acquisition-related intangibles | (3,838) | (3,857) | (5,443) | (15,616) | (18,940) | ||||||||||||||||||||||||
Diligence, acquisition and integration expense | (2,094) | (4) | (2,676) | (8,772) | (20,869) | ||||||||||||||||||||||||
Impairment of goodwill | — | — | (1,534) | — | (19,092) | ||||||||||||||||||||||||
Change in fair value of contingent consideration | — | — | (4,100) | — | (29,000) | ||||||||||||||||||||||||
Restructure charge | (325) | (465) | (1,681) | (7,064) | (7,047) | ||||||||||||||||||||||||
Other | (1,258) | — | — | (1,258) | (1,800) | ||||||||||||||||||||||||
Non-GAAP operating expenses | $ | 62,268 | $ | 63,637 | $ | 70,005 | $ | 253,724 | $ | 276,784 | |||||||||||||||||||
GAAP operating income (loss) | $ | 8,791 | $ | 11,511 | $ | (1,639) | $ | 18,295 | $ | 8,745 | |||||||||||||||||||
Share-based compensation expense | 10,359 | 11,192 | 9,574 | 43,160 | 39,228 | ||||||||||||||||||||||||
Amortization of acquisition-related intangibles | 9,747 | 9,766 | 11,319 | 39,272 | 44,601 | ||||||||||||||||||||||||
Flow-through of inventory step up | — | — | — | — | 2,599 | ||||||||||||||||||||||||
Cost of sales-related restructure | 865 | 387 | 1,050 | 2,136 | 6,813 | ||||||||||||||||||||||||
Diligence, acquisition and integration expense | 2,094 | 4 | 2,676 | 8,772 | 20,869 | ||||||||||||||||||||||||
Impairment of goodwill | — | — | 1,534 | — | 19,092 | ||||||||||||||||||||||||
Change in fair value of contingent consideration | — | — | 4,100 | — | 29,000 | ||||||||||||||||||||||||
Restructure charge | 325 | 465 | 1,681 | 7,064 | 7,047 | ||||||||||||||||||||||||
Other | 1,558 | — | — | 1,558 | 1,800 | ||||||||||||||||||||||||
Non-GAAP operating income | $ | 33,739 | $ | 33,325 | $ | 30,295 | $ | 120,257 | $ | 179,794 |
Three Months Ended | Year Ended | ||||||||||||||||||||||||||||
August 30, 2024 | May 31, 2024 | August 25, 2023 | August 30, 2024 | August 25, 2023 | |||||||||||||||||||||||||
GAAP net income (loss) attributable to Penguin Solutions | $ | (24,547) | $ | 5,616 | $ | 64,841 | $ | (44,324) | $ | 7,858 | |||||||||||||||||||
Share-based compensation expense | 10,359 | 11,192 | 9,574 | 43,160 | 39,228 | ||||||||||||||||||||||||
Amortization of acquisition-related intangibles | 9,747 | 9,766 | 11,319 | 39,272 | 44,601 | ||||||||||||||||||||||||
Flow-through of inventory step up | — | — | — | — | 2,599 | ||||||||||||||||||||||||
Cost of sales-related restructure | 865 | 387 | 1,050 | 2,136 | 6,813 | ||||||||||||||||||||||||
Diligence, acquisition and integration expense | 2,094 | 4 | 2,676 | 8,772 | 20,869 | ||||||||||||||||||||||||
Impairment of goodwill | — | — | 1,534 | — | 19,092 | ||||||||||||||||||||||||
Change in fair value of contingent consideration | — | — | 4,100 | — | 29,000 | ||||||||||||||||||||||||
Restructure charge | 325 | 465 | 1,681 | 7,064 | 7,047 | ||||||||||||||||||||||||
Amortization of debt issuance costs | 897 | 817 | 1,010 | 3,724 | 4,064 | ||||||||||||||||||||||||
Loss (gain) on extinguishment or prepayment of debt | 21,646 | 792 | — | 22,763 | 15,924 | ||||||||||||||||||||||||
Foreign currency (gains) losses | (1,072) | 606 | (276) | (830) | (221) | ||||||||||||||||||||||||
Other | 1,558 | — | — | 1,558 | 1,800 | ||||||||||||||||||||||||
Income tax effects | (1,865) | (9,424) | (79,103) | (16,388) | (70,993) | ||||||||||||||||||||||||
Non-GAAP net income attributable to Penguin Solutions | $ | 20,007 | $ | 20,221 | $ | 18,406 | $ | 66,907 | $ | 127,681 | |||||||||||||||||||
Weighted-average shares outstanding - Diluted: | |||||||||||||||||||||||||||||
GAAP weighted-average shares outstanding | 53,071 | 54,283 | 55,523 | 52,428 | 51,322 | ||||||||||||||||||||||||
Adjustment for dilutive securities and capped calls | 1,434 | (333) | (2,233) | 1,268 | (558) | ||||||||||||||||||||||||
Non-GAAP weighted-average shares outstanding | 54,505 | 53,950 | 53,290 | 53,696 | 50,764 | ||||||||||||||||||||||||
Diluted earnings (loss) per share from continuing operations: | |||||||||||||||||||||||||||||
GAAP diluted earnings (loss) per share | $ | (0.46) | $ | 0.10 | $ | 1.17 | $ | (0.85) | $ | 0.15 | |||||||||||||||||||
Effect of adjustments | 0.83 | 0.27 | (0.82) | 2.10 | 2.37 | ||||||||||||||||||||||||
Non-GAAP diluted earnings per share | $ | 0.37 | $ | 0.37 | $ | 0.35 | $ | 1.25 | $ | 2.52 | |||||||||||||||||||
Net income (loss) attributable to Penguin Solutions | $ | (24,547) | $ | 5,616 | $ | 64,841 | $ | (44,324) | $ | 7,858 | |||||||||||||||||||
Interest expense, net | 5,403 | 6,167 | 9,183 | 28,378 | 36,421 | ||||||||||||||||||||||||
Income tax provision (benefit) | 6,209 | (1,323) | (75,890) | 10,618 | (49,203) | ||||||||||||||||||||||||
Depreciation expense and amortization of intangible assets | 15,381 | 15,525 | 18,830 | 65,716 | 71,632 | ||||||||||||||||||||||||
Share-based compensation expense | 10,359 | 11,192 | 9,574 | 43,160 | 39,228 | ||||||||||||||||||||||||
Flow-through of inventory step up | — | — | — | — | 2,599 | ||||||||||||||||||||||||
Cost of sales-related restructure | 865 | 387 | 1,050 | 2,136 | 6,813 | ||||||||||||||||||||||||
Diligence, acquisition and integration expense | 2,094 | 4 | 2,676 | 8,772 | 20,869 | ||||||||||||||||||||||||
Impairment of goodwill | — | — | 1,534 | — | 19,092 | ||||||||||||||||||||||||
Change in fair value of contingent consideration | — | — | 4,100 | — | 29,000 | ||||||||||||||||||||||||
Restructure charge | 325 | 465 | 1,681 | 7,064 | 7,047 | ||||||||||||||||||||||||
Loss on extinguishment of debt | 21,646 | 792 | — | 22,763 | 15,924 | ||||||||||||||||||||||||
Other | 1,558 | — | — | 1,558 | 1,800 | ||||||||||||||||||||||||
Adjusted EBITDA | $ | 39,293 | $ | 38,825 | $ | 37,579 | $ | 145,841 | $ | 209,080 |
As of | August 30, 2024 | August 25, 2023 | |||||||||
Assets | |||||||||||
Cash and cash equivalents | $ | 383,147 | $ | 365,563 | |||||||
Short-term investments | 6,337 | 25,251 | |||||||||
Accounts receivable, net | 251,743 | 219,247 | |||||||||
Inventories | 151,213 | 174,977 | |||||||||
Other current assets | 75,264 | 51,790 | |||||||||
Current assets of discontinued operations | — | 70,574 | |||||||||
Total current assets | 867,704 | 907,402 | |||||||||
Property and equipment, net | 106,548 | 118,734 | |||||||||
Operating lease right-of-use assets | 60,349 | 68,444 | |||||||||
Intangible assets, net | 121,454 | 160,185 | |||||||||
Goodwill | 161,958 | 161,958 | |||||||||
Deferred tax assets | 85,078 | 74,085 | |||||||||
Other noncurrent assets | 71,415 | 15,150 | |||||||||
Total assets | $ | 1,474,506 | $ | 1,505,958 | |||||||
Liabilities and Equity | |||||||||||
Accounts payable and accrued expenses | $ | 219,090 | $ | 182,035 | |||||||
Current debt | — | 35,618 | |||||||||
Deferred revenue | 63,954 | 48,096 | |||||||||
Other current liabilities | 44,552 | 32,731 | |||||||||
Acquisition-related contingent consideration | — | 50,000 | |||||||||
Current liabilities of discontinued operations | — | 77,770 | |||||||||
Total current liabilities | 327,596 | 426,250 | |||||||||
Long-term debt | 657,347 | 754,820 | |||||||||
Noncurrent operating lease liabilities | 60,542 | 66,407 | |||||||||
Other noncurrent liabilities | 29,813 | 29,248 | |||||||||
Total liabilities | 1,075,298 | 1,276,725 | |||||||||
Commitments and contingencies | |||||||||||
Penguin Solutions shareholders’ equity: | |||||||||||
Preferred shares | — | — | |||||||||
Ordinary shares | 1,807 | 1,726 | |||||||||
Additional paid-in capital | 513,335 | 476,703 | |||||||||
Retained earnings | 29,985 | 82,457 | |||||||||
Treasury shares | (153,756) | (132,447) | |||||||||
Accumulated other comprehensive income (loss) | 10 | (205,964) | |||||||||
Total Penguin Solutions shareholders’ equity | 391,381 | 222,475 | |||||||||
Noncontrolling interest in subsidiary | 7,827 | 6,758 | |||||||||
Total equity | 399,208 | 229,233 | |||||||||
Total liabilities and equity | $ | 1,474,506 | $ | 1,505,958 |
Three Months Ended | Year Ended | ||||||||||||||||||||||||||||
August 30, 2024 | May 31, 2024 | August 25, 2023 | August 30, 2024 | August 25, 2023 | |||||||||||||||||||||||||
Cash flows from operating activities | |||||||||||||||||||||||||||||
Net income (loss) | $ | (23,792) | $ | 6,226 | $ | (140,155) | $ | (49,933) | $ | (185,694) | |||||||||||||||||||
Net income (loss) from discontinued operations | — | — | (205,685) | (8,148) | (195,384) | ||||||||||||||||||||||||
Net income (loss) from continuing operations | (23,792) | 6,226 | 65,530 | (41,785) | 9,690 | ||||||||||||||||||||||||
Adjustments to reconcile net income (loss) from continuing operations to cash provided by (used for) operating activities | |||||||||||||||||||||||||||||
Depreciation expense and amortization of intangible assets | 15,381 | 15,525 | 18,830 | 65,716 | 71,632 | ||||||||||||||||||||||||
Amortization of debt issuance costs | 897 | 817 | 1,010 | 3,724 | 4,064 | ||||||||||||||||||||||||
Share-based compensation expense | 10,359 | 11,192 | 9,574 | 43,160 | 39,228 | ||||||||||||||||||||||||
Impairment of goodwill | — | — | 1,534 | — | 19,092 | ||||||||||||||||||||||||
Change in fair value of contingent consideration | — | — | 4,100 | — | 29,000 | ||||||||||||||||||||||||
Loss on extinguishment or prepayment of debt | 21,646 | 792 | — | 22,763 | 15,924 | ||||||||||||||||||||||||
Deferred income taxes, net | (7,396) | (3,840) | (65,228) | (11,042) | (63,603) | ||||||||||||||||||||||||
Other | 83 | (3,228) | 701 | (2,689) | 4,008 | ||||||||||||||||||||||||
Changes in operating assets and liabilities: | |||||||||||||||||||||||||||||
Accounts receivable | (39,901) | (42,124) | 3,007 | (32,495) | 162,515 | ||||||||||||||||||||||||
Inventories | 26,086 | (4,535) | 28,564 | 23,765 | 95,217 | ||||||||||||||||||||||||
Other assets | 14,801 | 15,424 | (290) | 9,098 | 6,767 | ||||||||||||||||||||||||
Accounts payable and accrued expenses and other liabilities | (30,320) | 83,632 | (29,776) | 54,306 | (256,133) | ||||||||||||||||||||||||
Payment of acquisition-related contingent consideration | — | — | — | (29,000) | (73,724) | ||||||||||||||||||||||||
Net cash provided by (used for) operating activities from continuing operations | (12,156) | 79,881 | 37,556 | 105,521 | 63,677 | ||||||||||||||||||||||||
Net cash provided by (used for) operating activities from discontinued operations | — | (101) | (757) | (28,336) | 40,710 | ||||||||||||||||||||||||
Net cash provided by (used for) operating activities | (12,156) | 79,780 | 36,799 | 77,185 | 104,387 | ||||||||||||||||||||||||
Cash flows from investing activities | |||||||||||||||||||||||||||||
Capital expenditures and deposits on equipment | (5,795) | (3,777) | (7,747) | (19,424) | (39,421) | ||||||||||||||||||||||||
Acquisition of business, net of cash acquired | — | — | — | — | (213,073) | ||||||||||||||||||||||||
Proceeds from maturities of investment securities | 7,525 | 9,915 | — | 39,395 | — | ||||||||||||||||||||||||
Purchases of held-to-maturity investment securities | — | — | (25,015) | (19,503) | (25,015) | ||||||||||||||||||||||||
Purchases of non-marketable investments | (10,000) | (1,000) | (4,150) | (11,000) | (4,150) | ||||||||||||||||||||||||
Other | (8) | (518) | (195) | (1,272) | 475 | ||||||||||||||||||||||||
Net cash provided by (used for) investing activities from continuing operations | (8,278) | 4,620 | (37,107) | (11,804) | (281,184) | ||||||||||||||||||||||||
Net cash provided by (used for) investing activities from discontinued operations | — | 451 | (11,640) | 119,389 | (17,385) | ||||||||||||||||||||||||
Net cash provided by (used for) investing activities | $ | (8,278) | $ | 5,071 | $ | (48,747) | $ | 107,585 | $ | (298,569) |
Three Months Ended | Year Ended | ||||||||||||||||||||||||||||
August 30, 2024 | May 31, 2024 | August 25, 2023 | August 30, 2024 | August 25, 2023 | |||||||||||||||||||||||||
Cash flows from financing activities | |||||||||||||||||||||||||||||
Repayments of debt | $ | (224,703) | $ | (75,000) | $ | (7,212) | $ | (351,337) | $ | (21,634) | |||||||||||||||||||
Payments to acquire ordinary shares | (3,318) | (2,129) | (7,788) | (21,309) | (24,671) | ||||||||||||||||||||||||
Payment of acquisition-related contingent consideration | — | — | — | (21,000) | (28,100) | ||||||||||||||||||||||||
Net cash paid for settlement and purchase of capped calls | (16,300) | — | — | (16,300) | (4,304) | ||||||||||||||||||||||||
Distribution to noncontrolling interest | — | — | — | (1,470) | (2,009) | ||||||||||||||||||||||||
Repayments of borrowings under line of credit | — | — | — | — | — | ||||||||||||||||||||||||
Proceeds from debt | 192,694 | — | — | 192,694 | 295,287 | ||||||||||||||||||||||||
Proceeds from issuance of ordinary shares | 1,745 | 3,817 | 34,615 | 9,809 | 43,045 | ||||||||||||||||||||||||
Proceeds from borrowing under line of credit | — | — | — | — | — | ||||||||||||||||||||||||
Payment of premium in connection with convertible note exchange | — | — | — | — | (14,141) | ||||||||||||||||||||||||
Other | 2 | (1) | (487) | (582) | (6,252) | ||||||||||||||||||||||||
Net cash provided by (used for) financing activities from continuing operations | (49,880) | (73,313) | 19,128 | (209,495) | 237,221 | ||||||||||||||||||||||||
Net cash used for financing activities from discontinued operations | — | — | (426) | (606) | (805) | ||||||||||||||||||||||||
Net cash provided by (used for) financing activities | (49,880) | (73,313) | 18,702 | (210,101) | 236,416 | ||||||||||||||||||||||||
Effect of changes in currency exchange rates | — | (76) | 2,035 | (1,256) | 4,765 | ||||||||||||||||||||||||
Net increase (decrease) in cash, cash equivalents and restricted cash | (70,314) | 11,462 | 8,789 | (26,587) | 46,999 | ||||||||||||||||||||||||
Cash, cash equivalents and restricted cash at beginning of period | 453,791 | 442,329 | 401,275 | 410,064 | 363,065 | ||||||||||||||||||||||||
Cash, cash equivalents and restricted cash at end of period | $ | 383,477 | $ | 453,791 | $ | 410,064 | $ | 383,477 | $ | 410,064 |
Investor Contact: | PR Contact: | ||||
Suzanne Schmidt | Valerie Sassani | ||||
Investor Relations | VP of Marketing and Communications | ||||
+1-510-360-8596 | +1-510-941-8921 | ||||
ir@penguinsolutions.com | pr@penguinsolutions.com |