REVENUE |
3 Months Ended |
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Jun. 28, 2025 | |
| Revenue from Contract with Customer [Abstract] | |
| REVENUE | 4. REVENUE As of June 28, 2025, the Company had $36.0 million of transaction price allocated to remaining performance obligations related to executed contracts with an original duration of one year or more. The Company expects to recognize approximately 86% of this amount as revenue within the next twelve months and the remaining balance thereafter. Contract Balances The timing of revenue recognition, billings and cash collections results in billed accounts receivable, unbilled receivables and contract assets, as well as customer advances, customer deposits and deferred revenue (contract liabilities) on the condensed consolidated balance sheets. The difference in timing between billing and revenue recognition primarily occurs in software licensing arrangements, resulting in contract assets and contract liabilities. As of June 28, 2025 and March 29, 2025, the Company had contract liabilities of $49.2 million and $43.3 million, respectively. During the three months ended June 28, 2025, the Company recognized $13.3 million of revenue that was included in the above March 29, 2025 contract liability balance. Contract liabilities are classified as other current liabilities on the condensed consolidated balance sheets. As of June 28, 2025 and March 29, 2025, the Company’s contract assets were $4.3 million and $11.6 million, respectively.
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