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SEGMENT REPORTING, GEOGRAPHIC AND SIGNIFICANT CUSTOMER INFORMATION
 9 Months Ended
Jul. 03, 2026
Segment Reporting [Abstract]  
SEGMENT REPORTING, GEOGRAPHIC AND SIGNIFICANT CUSTOMER INFORMATION SEGMENT REPORTING, GEOGRAPHIC AND SIGNIFICANT CUSTOMER INFORMATION
We have one reportable operating segment that designs, develops, manufactures and markets semiconductors and modules. The determination of the number of reportable operating segments is based on the chief operating decision maker’s (“CODM”) use of financial information provided for the purposes of assessing performance and making operating decisions. The Company's CODM is its President and Chief Executive Officer and Chair of the Board. In evaluating financial performance and making operating decisions, the CODM primarily uses consolidated metrics. The Company assesses its determination of operating segments at least annually. We continue to evaluate our internal reporting structure, changes to our business and the potential impact of these changes on our segment reporting. The accounting policies of the single operating segment are the same as those described in the summary of significant account policies.
The CODM uses consolidated gross profit and net income (loss) to assess financial performance against prior periods and our competitors, to decide how to allocate resources and to evaluate income generated from segment assets in deciding whether to reinvest profits into our operations or into other parts of the entity, such as for acquisitions or other investments. The measure of segment assets is reported on the balance sheet as total assets. Financial forecasts and budget to actual results used by the CODM to assess performance and allocate resources, as well as those used for strategic decisions related to headcount and capital expenditures are also reviewed on a consolidated basis.
The following table presents a summary of consolidated net income (loss) inclusive of significant segment expenses and other expense information provided to the CODM (in thousands):
Three Months EndedNine Months Ended
July 3, 2026July 4, 2025July 3, 2026July 4, 2025
Revenue$342,237 $252,079 $902,804 $706,088 
Less:
Cost of revenue (1)137,990 106,881 373,044 299,937 
Research and development (1)65,270 55,113 180,091 153,046 
Selling, general and administrative (1)31,263 26,569 87,530 74,363 
Share-based compensation including cash incentive stock units (2)24,511 19,568 75,761 68,051 
Amortization expense (3)3,335 4,967 10,141 16,436 
Acquisition- and integration-related costs2,753 1,321 4,994 4,198 
Income from operations77,115 37,660 171,243 90,057 
Interest income, net of interest expense5,192 6,420 17,576 18,114 
Gain on investment fair value41,543 — 41,543 — 
Loss on extinguishment of debt— — — (193,098)
Income tax expense23,142 7,546 34,556 14,403 
Net income (loss)$100,708 $36,534 $195,806 $(99,330)
(1) Excludes share-based compensation including cash incentive stock units, amortization expense and acquisition- and integration-related costs.
(2) Includes share-based compensation expense for awards that are equity and liability classified on our balance sheet and the related employer tax expense at vesting.
(3) Relates to acquired intangible assets and excludes amortization for purchased software licenses and licensed technology.
This expense information is based on management’s internal view of expense classification when reviewing aspects of financial and operating performance of the business, and may not be representative of expense classification that is comparable to other peer companies’ internal management views. As a result, this expense information should not be considered in isolation or as substitute for analysis of the Company’s results in conjunction with the accompanying condensed consolidated financial statements and notes thereto.
Geographic and Significant Customer Information
For information about our revenue in different geographic regions, based upon customer locations, see Note 2 - Revenue.
Information about net property and equipment in different geographic regions is presented below (in thousands):
July 3,
2026		October 3,
2025
United States$182,539 $172,583 
France45,619 40,686 
Other Countries (1)
18,150 17,022 
Total$246,308 $230,291 
(1)Other than the United States and France, no country or region represented greater than 10% of the total net property and equipment as of the dates presented.
The following is a summary of customer concentrations as a percentage of revenue and accounts receivable as of and for the periods presented:
Three Months EndedNine Months Ended
RevenueJuly 3,
2026		July 4,
2025		July 3,
2026		July 4,
2025
Customer A23 %13 %19 %13 %
Customer C13 %— 12 %11 %

Accounts ReceivableJuly 3,
2026		October 3,
2025
Customer A26 %11 %
Customer B — 11 %
Customer C— 11 %
Customer Concentration
No other customer represented more than 10% of revenue or accounts receivable in the periods presented in the accompanying condensed consolidated financial statements. For each of the three and nine months ended July 3, 2026, our top ten customers represented 60% and 57% of total revenue, respectively. For each of the three and nine months ended July 4, 2025, our top ten customers represented 58% of total revenue