v3.26.1
Unaudited Condensed Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Jun. 27, 2026
Jun. 28, 2025
Jun. 27, 2026
Jun. 28, 2025
Revenue:        
Total revenue $ 720,838 $ 592,121 $ 2,027,303 $ 1,628,465
Cost of revenue:        
Total cost of revenue 559,928 480,279 1,583,017 1,324,814
Gross profit 160,910 111,842 444,286 303,651
Operating expenses:        
Research and development expenses 43,780 49,729 138,069 150,967
Selling, general, and administrative expenses 84,235 71,557 258,020 205,567
Restructuring charges 0 16,361 2,685 16,361
Total operating expenses 128,015 137,647 398,774 372,895
Operating income (loss) 32,895 (25,805) 45,512 (69,244)
Other income, net 30,587 8,451 54,688 27,987
Income (loss) before income tax and equity method investment 63,482 (17,354) 100,200 (41,257)
Income Tax Expense (Benefit) 1,149 (44) (38) 1,204
Loss from equity method investment (9,631) (3,776) (22,375) (7,831) [1]
Net income (loss) 55,000 (21,174) 77,787 (47,884) [1]
Net income (loss) attributable to noncontrolling interests 43,327 (17,251) 61,543 (38,982)
Net income (loss) attributable to common stockholders $ 11,673 $ (3,923) $ 16,244 $ (8,902)
Income (loss) per share of Class A Common Stock:        
Basic (in dollars per share) $ 0.09 $ (0.04) $ 0.13 $ (0.08)
Diluted (in dollars per share) $ 0.09 $ (0.04) $ 0.12 $ (0.08)
Weighted-average shares of Class A Common Stock outstanding:        
Basic (in shares) 128,076,383 109,201,745 123,029,814 107,664,864
Diluted (in shares) 133,252,947 109,201,745 131,666,538 107,664,864
Systems        
Revenue:        
Total revenue $ 670,952 $ 559,108 $ 1,895,740 $ 1,536,539
Cost of revenue:        
Total cost of revenue 523,607 453,967 1,489,031 1,246,745
Software maintenance and support        
Revenue:        
Total revenue 12,765 8,121 36,574 20,331
Cost of revenue:        
Total cost of revenue 3,486 1,705 9,808 5,593
Operation services        
Revenue:        
Total revenue 37,121 24,892 94,989 71,595
Cost of revenue:        
Total cost of revenue $ 32,835 $ 24,607 $ 84,178 $ 72,476
[1] Refer to Note 2 for a description of the revision related to the statement of cash flows for the nine months ended June 28, 2025.