Revenue Recognition |
6 Months Ended |
|---|---|
Dec. 24, 2022 | |
| Revenue from Contract with Customer [Abstract] | |
| Revenue Recognition | 2. Revenue Recognition We account for revenue using Accounting Standards Codification Topic 606, or ASC 606, Revenue from Contracts with Customers. Revenue is recognized when control of the promised goods or services is transferred to our customers, in an amount that reflects the consideration we expect to receive in exchange for those goods or services. All of our revenue, except an inconsequential amount, is recognized at a point in time, either on shipment or delivery of the product, depending on customer terms and conditions. Our accounts receivable balance is from contracts with customers and represents our unconditional right to receive consideration from customers. To date, there have been no material bad debt charges recorded on accounts receivable. There were $1.3 million and $1.2 million in contract assets recorded on our condensed consolidated balance sheets as of December 2022 and June 2022, respectively. Contract assets are presented as part of prepaid expenses and other current assets. Contract liabilities and refund liabilities were $27.3 million and $40.8 million, respectively, as of December 2022 and $27.3 million and $61.3 million, respectively, as of June 2022. Both contract liabilities and refund liabilities are presented as customer obligations in Note 10 Balance Sheet Components. During the six months ended December 2022 and December 2021, we recognized $2.8 million and $3.3 million, respectively, in revenue related to contract liabilities, which was outstanding as of the beginning of each such fiscal year. Revenue from contracts with customers disaggregated by geographic area based on customer location and product category is presented in Note 15 Segment, Customers, and Geographical Information. |