Income Taxes |
9 Months Ended |
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Mar. 27, 2026 | |
| Income Tax Disclosure [Abstract] | |
| Income Taxes | Income Taxes The Company recorded an income tax provision of $174 and an income tax benefit $2,648 on losses before income taxes of $2,687 and $21,818 for the third quarters ended March 27, 2026 and March 28, 2025, respectively. The Company recorded income tax benefits of $6,211 and $14,967 on a loss before income taxes of $36,682 and $69,241 for the nine months ended March 27, 2026 and March 28, 2025, respectively. During the third quarter and nine months ended March 27, 2026, the Company recognized a tax benefit of $314 and $2,436 related to stock compensation windfalls, respectively, and during the third quarter and nine months ended March 28, 2025, the Company recognized a tax provision of $48 and $406 related to stock compensation shortfalls, respectively. The effective tax rate for the third quarter and nine months ended March 27, 2026 differed from the federal statutory rate primarily due to federal and state research and development credits, non-deductible compensation, stock compensation windfalls, and state taxes. The effective tax rate for the third quarter and nine months ended March 28, 2025 differed from the federal statutory rate primarily due to federal and state research and development credits, return to provision adjustments, non-deductible compensation, and state taxes. The Company continues to maintain a valuation allowance on all of its foreign net operating loss carryforwards and the majority of its state research and developmental tax credit carryforwards. Based on forecasted taxable income and the scheduled reversal of the remaining deferred tax assets, the Company believes it is more likely than not that all other deferred tax assets will be recognized. On July 4, 2025, the One Big Beautiful Bill Act (“OBBBA”) was enacted, which includes a broad range of tax provisions and extended and modified certain provisions of the Tax Cuts and Jobs Act ("TCJA"), including, but not limited to, restoration of 100% bonus depreciation, EBITDA-based interest expense limitation and immediate expensing of domestic research and development expenditures. The Company has evaluated the potential impact of this legislation and expects it to result primarily in a timing difference, with no material impact on the Company's effective tax rate.
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