v3.25.2
Revenues from contracts with customers
 12 Months Ended
Jun. 27, 2025
Revenue from Contract with Customer [Abstract]  
Revenues from contracts with customers Revenues from contracts with customers
Contract Assets and Liabilities
A contract asset is recognized when the Company has recognized revenues, but has not yet issued an invoice to its customer for payment. Contract assets are recognized in the consolidated balance sheets under other current assets and transferred to accounts receivable when rights to payment become unconditional. No impairment for contract assets was recorded for the years ended June 27, 2025 and June 28, 2024.
As of June 27, 2025 and June 28, 2024, the Company's contract assets were de minimis.
A contract liability is recognized when the Company has advance payment arrangements with customers. Contract liabilities are recognized in the consolidated balance sheets under other payables. The contract liabilities balance is normally recognized as revenue within six months.
The following tables summarize the activity in the Company’s contract liabilities during the years ended June 27, 2025, June 28, 2024, and June 30, 2023:
(in thousands)Contract 
Liabilities
Balance as of June 24, 2022$1,982 
Advance payment received during the year14,124 
Revenue recognized(13,070)
Balance as of June 30, 20233,036 
Advance payment received during the year11,069 
Revenue recognized(6,259)
Balance as of June 28, 20247,846 
Advance payment received during the year23,640 
Revenue recognized(17,019)
Balance as of June 27, 2025$14,467 
Customer Warrant
For the year ended June 27, 2025, the Company recognized $4.1 million as a reduction to revenue on the consolidated statements of operations.
Revenue by Geographic Area and End Market
Total revenues are attributed to a particular geographic area based on the bill-to-location of the Company’s customers. The Company operates primarily in three geographic regions: North America; Asia-Pacific and others; and Europe.
The following table presents total revenues by geographic regions:
(in thousands, except percentages)Year ended June 27,
2025		As a %
of Total
Revenues		Year ended June 28,
2024		As a %
of Total
Revenues		Year ended June 30,
2023		As a %
of Total
Revenues
North America$1,480,778 43.4 %$1,053,141 36.5 %$1,269,965 48.0 %
Asia-Pacific1,656,611 48.4 1,646,055 57.1 1,143,510 43.2 
Europe281,938 8.2 183,771 6.4 231,762 8.8 
$3,419,327 100.0 %$2,882,967 100.0 %$2,645,237 100.0 %
Years Ended
(in thousands, except percentages)June 27,
2025		June 28,
2024		June 30,
2023
North America
U.S.1,474,773 1,041,046 1,247,422 
Others (1)
6,005 12,095 22,543 
   Total revenue in North America1,480,778 1,053,141 1,269,965 
Asia-Pacific and others
Israel993,001 1,049,730 341,025 
India323,600 269,304 325,478 
Hong Kong100,859 60,489 132,136 
Thailand57,367 47,339 58,850 
China56,365 65,497 73,094 
Singapore52,538 8,797 6,792 
Japan37,541 25,094 41,105 
Malaysia32,399 117,929 162,599 
Others2,941 1,876 2,431 
   Total revenue in Asia-Pacific and others1,656,611 1,646,055 1,143,510 
Europe
U.K.156,363 87,051 125,082 
Germany43,889 42,817 54,732 
Others81,686 53,903 51,948 
   Total revenue in Europe$281,938 $183,771 $231,762 
         Total revenue$3,419,327 $2,882,967 $2,645,237 
(1)Others includes revenues from external customers based in our country of domicile, the Cayman Islands, which for each year presented is $0.
The following table presents revenues by end market and product category.
(in thousands, except percentages)Year ended June 27, 2025As a % of Total
Revenues		Year ended June 28, 2024As a % of Total
Revenues		Year ended June 30, 2023As a % of Total
Revenues
Optical communications
Datacom$1,155,944 $1,150,307 $520,796 
Telecom1,463,411 1,138,708 1,487,551 
Total revenue - Optical communications$2,619,355 76.6 %$2,289,015 79.4 %$2,008,347 75.9 %
Non-optical communications
Automotive$464,369 $327,188 $368,581 
Industrial laser153,068 122,722 125,415 
Others182,535 144,042 142,894 
Total revenue - Non-optical communications$799,972 23.4 %$593,952 20.6 %$636,890 24.1 %
Total revenue$3,419,327 100.0 %$2,882,967 100.0 %$2,645,237 100.0 %