diff --git a/lib/stackdepot.c b/lib/stackdepot.c
index 60aea549429a..3f921aaae44a 100644
--- a/lib/stackdepot.c
+++ b/lib/stackdepot.c
@@ -219,11 +219,11 @@ int stack_depot_init(void)
 }
 EXPORT_SYMBOL_GPL(stack_depot_init);
 
-/* Uses preallocated memory to initialize a new stack depot pool. */
-static void depot_init_pool(void **prealloc)
+/* Keeps the preallocated memory to be used for the next stack depot pool. */
+static void depot_keep_next_pool(void **prealloc)
 {
 	/*
-	 * If the next pool is already initialized or the maximum number of
+	 * If the next pool is already saved or the maximum number of
 	 * pools is reached, do not use the preallocated memory.
 	 * Access next_pool_required non-atomically, as there are no concurrent
 	 * write accesses to this variable.
@@ -231,44 +231,34 @@ static void depot_init_pool(void **prealloc)
 	if (!next_pool_required)
 		return;
 
-	/* Check if the current pool is not yet allocated. */
-	if (stack_pools[pool_index] == NULL) {
-		/* Use the preallocated memory for the current pool. */
-		stack_pools[pool_index] = *prealloc;
+	/*
+	 * Use the preallocated memory for the next pool
+	 * as long as we do not exceed the maximum number of pools.
+	 */
+	if (pool_index + 1 < DEPOT_MAX_POOLS) {
+		stack_pools[pool_index + 1] = *prealloc;
 		*prealloc = NULL;
-	} else {
-		/*
-		 * Otherwise, use the preallocated memory for the next pool
-		 * as long as we do not exceed the maximum number of pools.
-		 */
-		if (pool_index + 1 < DEPOT_MAX_POOLS) {
-			stack_pools[pool_index + 1] = *prealloc;
-			*prealloc = NULL;
-		}
-		/*
-		 * At this point, either the next pool is initialized or the
-		 * maximum number of pools is reached. In either case, take
-		 * note that initializing another pool is not required.
-		 * smp_store_release() pairs with smp_load_acquire() in
-		 * stack_depot_save().
-		 */
-		smp_store_release(&next_pool_required, 0);
 	}
+
+	/*
+	 * At this point, either the next pool is kept or the maximum
+	 * number of pools is reached. In either case, take note that
+	 * keeping another pool is not required.
+	 * smp_store_release() pairs with smp_load_acquire() in
+	 * stack_depot_save().
+	 */
+	smp_store_release(&next_pool_required, 0);
 }
 
-/* Allocates a new stack in a stack depot pool. */
-static struct stack_record *
-depot_alloc_stack(unsigned long *entries, int size, u32 hash, void **prealloc)
+/* Updates refences to the current and the next stack depot pools. */
+static bool depot_update_pools(size_t required_size, void **prealloc)
 {
-	struct stack_record *stack;
-	size_t required_size = DEPOT_STACK_RECORD_SIZE;
-
 	/* Check if there is not enough space in the current pool. */
 	if (unlikely(pool_offset + required_size > DEPOT_POOL_SIZE)) {
 		/* Bail out if we reached the pool limit. */
 		if (unlikely(pool_index + 1 >= DEPOT_MAX_POOLS)) {
 			WARN_ONCE(1, "Stack depot reached limit capacity");
-			return NULL;
+			return false;
 		}
 
 		/*
@@ -278,9 +268,10 @@ depot_alloc_stack(unsigned long *entries, int size, u32 hash, void **prealloc)
 		 */
 		WRITE_ONCE(pool_index, pool_index + 1);
 		pool_offset = 0;
+
 		/*
 		 * If the maximum number of pools is not reached, take note
-		 * that the next pool needs to initialized.
+		 * that the next pool needs to be initialized.
 		 * smp_store_release() pairs with smp_load_acquire() in
 		 * stack_depot_save().
 		 */
@@ -288,9 +279,30 @@ depot_alloc_stack(unsigned long *entries, int size, u32 hash, void **prealloc)
 			smp_store_release(&next_pool_required, 1);
 	}
 
-	/* Assign the preallocated memory to a pool if required. */
+	/* Check if the current pool is not yet allocated. */
+	if (*prealloc && stack_pools[pool_index] == NULL) {
+		/* Use the preallocated memory for the current pool. */
+		stack_pools[pool_index] = *prealloc;
+		*prealloc = NULL;
+		return true;
+	}
+
+	/* Otherwise, try using the preallocated memory for the next pool. */
 	if (*prealloc)
-		depot_init_pool(prealloc);
+		depot_keep_next_pool(prealloc);
+	return true;
+}
+
+/* Allocates a new stack in a stack depot pool. */
+static struct stack_record *
+depot_alloc_stack(unsigned long *entries, int size, u32 hash, void **prealloc)
+{
+	struct stack_record *stack;
+	size_t required_size = DEPOT_STACK_RECORD_SIZE;
+
+	/* Update current and next pools if required and possible. */
+	if (!depot_update_pools(required_size, prealloc))
+		return NULL;
 
 	/* Check if we have a pool to save the stack trace. */
 	if (stack_pools[pool_index] == NULL)
@@ -324,7 +336,7 @@ static struct stack_record *depot_fetch_stack(depot_stack_handle_t handle)
 	union handle_parts parts = { .handle = handle };
 	/*
 	 * READ_ONCE() pairs with potential concurrent write in
-	 * depot_alloc_stack().
+	 * depot_update_pools().
 	 */
 	int pool_index_cached = READ_ONCE(pool_index);
 	void *pool;
@@ -424,7 +436,7 @@ depot_stack_handle_t __stack_depot_save(unsigned long *entries,
 	 * the memory now - we won't be able to do that under the lock.
 	 *
 	 * smp_load_acquire() pairs with smp_store_release() in
-	 * depot_alloc_stack() and depot_init_pool().
+	 * depot_update_pools() and depot_keep_next_pool().
 	 */
 	if (unlikely(can_alloc && smp_load_acquire(&next_pool_required))) {
 		/*
@@ -461,7 +473,7 @@ depot_stack_handle_t __stack_depot_save(unsigned long *entries,
 		 * Stack depot already contains this stack trace, but let's
 		 * keep the preallocated memory for the future.
 		 */
-		depot_init_pool(&prealloc);
+		depot_keep_next_pool(&prealloc);
 	}
 
 	raw_spin_unlock_irqrestore(&pool_lock, flags);
