v3.26.1
Segment, Geographic Information and Major Customers
 12 Months Ended
Jun. 28, 2026
Segment Reporting [Abstract]  
Segment, Geographic Information and Major Customers Segment, Geographic Information, and Major Customers
The Company operates in one reportable business segment: manufacturing and servicing of wafer processing semiconductor manufacturing equipment. The Company’s material operating segments qualify for aggregation due to their customer base and similarities in economic characteristics, nature of products and services, and processes for procurement, manufacturing, and distribution. The Company's chief operating decision maker (“CODM”) is the Company's Chief Executive Officer.
The Company's CODM utilizes segment gross margin as the measure of profit or loss to evaluate operating segment profitability and to assess the allocation of resources. Segment gross margin excludes both routine and non-routine expenses that are not allocated to the reportable segment, including, but not limited to, amortization of intangible assets acquired in certain business combinations, the change in value of the Company's elective deferred compensation-related liability, restructuring charges, impairment of long-lived assets, and transformational charges.
Segment results are derived from the Company's internal management reporting system utilizing policies that are substantially the same as those used for external reporting purposes. The CODM utilizes segment revenue growth in conjunction with segment gross margin metrics in comparing forecast to actual results as well as in benchmarking to the Company's peer group.
The Company's centralized manufacturing and support organizations, including global operations and certain administrative functions, provide support to its operating segments. Costs incurred by these organizations, as well as depreciation and amortization and equity-based compensation expense are allocated to cost of goods sold as overhead. Consequently, depreciation and amortization and equity-based compensation expense are not independently identifiable components within the segment’s results, and, therefore are not provided.
With the exception of goodwill, the Company does not identify assets by operating segment. Consequently, the CODM does not regularly review or receive discrete asset information by operating segment.
The table below reconciles the Company's reportable segment to income before income taxes:
Year Ended
June 28,
2026		June 29,
2025		June 30,
2024
(in thousands)
Revenue$23,232,690 $18,435,591 $14,905,386 
Installation and warranty expense645,551 544,192 435,015 
Other cost of goods sold (COGS) (1)
10,467,090 8,675,349 6,988,338 
Segment COGS11,112,641 9,219,541 7,423,353 
Segment gross margin12,120,049 9,216,050 7,482,033 
Reconciliation to consolidated gross margin
Restructuring charges, net— — 43,375 
All other COGS394,741 236,991 385,867 
Gross margin11,725,308 8,979,059 7,052,791 
Research and development2,375,873 2,096,387 1,902,444 
Selling, general, and administrative1,149,640 981,704 868,247 
Restructuring charges, net - operating expenses— — 18,187 
Other income (expense), net62,678 57,161 96,309 
Income before income taxes$8,262,473 $5,958,129 $4,360,222 
(1)Other COGS is primarily comprised of the capitalized cost of inventory sold, including both direct and indirect costs, but excludes installation and warranty expense and those items not allocated to the segment.
The Company operates in seven geographic regions: United States, China, Europe, Japan, Korea, Southeast Asia, and Taiwan. For geographical reporting, revenue is attributed to the geographic location in which the customers’ facilities are located, while long-lived assets; which includes property and equipment, net, and recognized right of use assets reported in Other assets in the Consolidated Balance Sheets as of June 28, 2026 and June 29, 2025; are attributed to the geographic locations in which the assets are located.
Revenues and long-lived assets by geographic region were as follows: 
Year Ended
June 28,
2026		June 29,
2025		June 30,
2024
Revenue:(in thousands)
China$7,859,811 $6,205,062 $6,293,990 
Taiwan5,222,915 3,445,220 1,671,815 
Korea4,505,327 4,127,766 2,874,015 
Japan2,171,088 1,880,882 1,460,429 
United States1,528,912 1,376,857 1,104,087 
Southeast Asia1,245,931 837,242 794,054 
Europe698,706 562,562 706,996 
Total revenue$23,232,690 $18,435,591 $14,905,386 
 
June 28,
2026		June 29,
2025		June 30,
2024
Long-lived assets:(in thousands)
United States$2,003,371 $1,716,574 $1,582,103 
Southeast Asia651,935 451,283 390,514 
Korea346,247 299,497 262,405 
Taiwan176,537 96,458 98,268 
Europe152,702 134,707 115,316 
Japan16,512 8,638 7,858 
China6,527 8,567 6,390 
$3,353,831 $2,715,724 $2,462,854 
In fiscal year 2026, four customers accounted for approximately 16%, 15%, 12%, and 12% of total revenues, respectively. In fiscal year 2025, two customer accounted for approximately 17% and 15% of total revenues. In fiscal year 2024, one customer accounted for approximately 17% of total revenues, respectively. No other customers accounted for 10% or more of total revenues.