v3.25.2
Fair value of financial instruments (Tables)
 12 Months Ended
Jun. 27, 2025
Fair Value Disclosures [Abstract]  
Schedule of Financial Instruments Measured at Fair Value on Recurring Basis
The following table provides details of the financial instruments measured at fair value on a recurring basis, including:
Fair Value Measurements at Reporting Date
Using
(in thousands)Level 1Level 2Level 3Total
As of June 27, 2025
Assets
Cash equivalents$— $11,183 $— $11,183 
Certificates of deposit and time deposits— 145,752 — 145,752 
Corporate debt securities— 189,973 — 189,973 
U.S. agency and U.S. Treasury securities— 292,094 — 292,094 
Derivative assets - current portion— 2,961 
(1)
— 2,961 
Total$— $641,963 $— $641,963 
Liabilities
Derivative liabilities - current portion$— $(105)
(2)
$— $(105)
Total$— $(105)$— $(105)

Fair Value Measurements at Reporting Date
Using
(in thousands)Level 1Level 2Level 3Total
As of June 28, 2024
Assets
Cash equivalents$— $35 $— $35 
Certificates of deposit and time deposits— 134,283 — 134,283 
Corporate debt securities— 136,763 — 136,763 
U.S. agency and U.S. Treasury securities— 177,584 — 177,584 
Derivative assets - current portion— 15 
(3)
— 15 
Total$— $448,680 $— $448,680 
Liabilities
Derivative liabilities - current portion$— $(2,244)
(4)
$— $(2,244)
Total$— $(2,244)$— $(2,244)

(1)Foreign currency forward contracts with an aggregate notional amount of $130.0 million and 0.5 million Canadian dollars.
(2)Foreign currency forward contracts with an aggregate notional amount of $35.0 million.
(3)Foreign currency forward contracts with an aggregate notional amount of $8.0 million.
(4)Foreign currency forward contracts with an aggregate notional amount of $127.0 million and 0.4 million Canadian dollars.
Schedule Impacts of Derivative Gain (Loss) of Cash Flow Hedges
The following table provides a summary of the impact of derivative gain (loss) of the Company’s foreign currency forward contracts and interest rate swaps which were designated as cash flow hedges on the consolidated statements of operations and other comprehensive income:
Year Ended
(in thousands)Financial statements
line item		June 27,
2025		June 28,
2024
Derivatives gain (loss) recognized in other comprehensive income (loss):
Foreign currency forward contractsOther comprehensive income (loss)$5,075 $3,007 
Interest rate swapsOther comprehensive income (loss)— (215)
Total derivatives loss (gain) recognized in other comprehensive income$5,075 $2,792 
Derivatives loss (gain) reclassified from accumulated other comprehensive income into earnings:
Foreign currency forward contractsCost of revenues$(1,588)$8,563 
Foreign currency forward contractsSelling, general and administrative expenses(122)357 
Foreign currency forward contractsForeign exchange gain (loss), net(654)(9,103)
Interest rate swapsInterest expense— (220)
Total derivatives (gain) loss reclassified from accumulated other comprehensive income into earnings$(2,364)$(403)
Change in net unrealized gain (loss) on derivative instruments$2,711 $2,389 
Schedule of Derivative Financial Instruments
The following table provides the fair values of the Company’s derivative financial instruments for the periods presented:
June 27,
2025		June 28,
2024
(in thousands)Derivative
Assets		Derivative
Liabilities		Derivative
Assets		Derivative
Liabilities
Derivatives not designated as hedging instruments
Foreign currency forward and option contracts$1,303 $(12)$— $(1,088)
Derivatives designated as hedging instruments
Foreign currency forward contracts1,658 (93)15 (1,156)
Derivatives, gross balances2,961 (105)15 (2,244)
Derivative Financial Instruments in the Unaudited Condensed Consolidated Balance Sheets
The Company presents its derivatives at gross fair values in the consolidated balance sheets.
The Company recorded the fair value of derivative financial instruments in the consolidated balance sheets as follows:
Derivative Financial InstrumentsBalance Sheet line item
Fair Value of Derivative AssetsOther non-current assets
Fair Value of Derivative LiabilitiesAccrued expenses