v3.26.1
Segment and Geographic Reporting
 12 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
Segment and Geographic Reporting Segment and Geographic Reporting
The Company’s businesses are organized and managed into segments based on similarities in products and services. Segment determination reflects how the CODM evaluates the Company’s operations for decision-making operating decisions and performance assessment. Effective July 1, 2025, the Company realigned its organizational structure and now identifies multiple operating segments, which are aggregated into two reportable segments: (i) Datacenter & Communications, and (ii) Industrial. In accordance with ASC 280, Segment Reporting, the aggregation of the Company’s segments is based on similarities in economic characteristics, product and service types, production processes, type or class of customers, and distribution methods. Previously, financial results had been reported in the following three segments: (i) Networking, (ii) Materials, and (iii) Lasers. Comparative prior period segment information has been recast to conform to the new segments.
The Datacenter & Communications segment has locations in the United States, Australia, China, Germany, Malaysia, South Korea, Sweden, Switzerland, Thailand, the Philippines and Vietnam. This segment sells primarily into the datacenter and communications market, including transceivers, co-packaged optics, optical circuit switches, systems, subsystems, modules, components, optics, and semiconductor devices.
The Industrial segment has locations in the United States, China, Finland, Germany, Italy, Japan, Malaysia, Singapore, South Korea, Spain, Sweden, Taiwan, the Philippines, the United Kingdom and Vietnam. This segment sells primarily into the industrial market, which includes lasers, systems, optics, components and materials for semiconductor and display capital equipment, precision manufacturing, life sciences, consumer electronics, scientific research and automotive and market applications.
Our CODM, who has been identified as our Chief Executive Officer, receives and reviews financial information based on the operating segments that are aggregated into the two reportable segments. Our CODM evaluates each segment’s performance and allocates resources based on segment revenue and segment profit, as our CODM believes segment profit is a more comprehensive profitability measure for each operating segment. Our CODM is regularly provided with segment revenue and segment profit information to assess performance of each segment. Segment profit includes operating expenses directly managed by operating segments, including research and development, direct sales, marketing and administrative expenses. Segment profit does not include share-based compensation, acquisition or integration related costs, amortization and impairment of acquisition-related intangible assets, restructuring charges, impairment charges on assets held-for-sale, gain on sale of businesses and certain other charges or gains. Additionally, we do not allocate Corporate strategic research and development, strategic marketing and sales expenses and shared general and administrative expenses, as these expenses are not directly attributable to our operating segments. The segments are managed separately due to the unique products and markets that each serves. The Company derives its reportable segment results based on how financial information is reported and aggregated within its management reporting system. The CODM uses segment profit as a key metric in the forecasting process and in making decisions related to capital allocation and resource deployment across segments. The accounting policies are consistent across each segment. Assets by segment are not a measure used to assess the performance of the company by the CODM and thus are not reported in our disclosures.
The following table summarizes selected financial information of our operations by segment and reconciles segment profit to consolidated earnings (loss) before income taxes for the periods presented ($000):
Year Ended June 30,
202620252024
Segment revenue
Datacenter & Communications$5,274,629 $3,755,164 $2,631,369 
Industrial1,843,552 2,054,951 2,076,319 
Total segment revenue7,118,181 5,810,115 4,707,688 
     
Intersegment revenue
Datacenter & Communications40,735 38,584 36,504 
Industrial99,643 77,108 55,098 
Elimination of intersegment revenue(140,378)(115,692)(91,602)
Total intersegment revenue— — — 
     
Segment cost of goods sold and operating expenses (1)
Datacenter & Communications3,985,646 2,889,961 2,167,905 
Industrial1,520,422 1,724,569 1,833,711 
Total segment cost of goods sold and operating expenses5,506,068 4,614,530 4,001,616 
     
Segment profit
Datacenter & Communications1,329,719 903,787 499,968 
Industrial422,773 407,490 297,706 
Total segment profit1,752,492 1,311,277 797,674 
     
Unallocated Corporate expenses
Corporate and centralized function costs (2)
(296,748)(274,333)(179,624)
Share-based compensation(193,804)(160,972)(126,895)
Restructuring costs (3)
(63,390)(160,081)(27,054)
Impairment of assets held-for-sale(64,404)(84,988)— 
Integration, site consolidation and other costs (4)
(80,084)(38,237)(79,820)
Amortization of intangibles(280,334)(302,788)(288,160)
Interest expense(190,267)(243,251)(288,475)
Gain on sale of business124,133 — — 
Other income, net140,139 47,554 44,707 
Earnings (loss) before income taxes$847,733 $94,181 $(147,647)
(1)The significant expense category amount aligns with the segment-level information that is regularly provided to the CODM. Segment cost of goods sold and operating expenses primarily include manufacturing costs, labor and research and development costs, and exclude expenses and credits that are included in the Unallocated corporate expenses category.
(2)We do not allocate corporate and centralized function costs that are not directly attributable to our operating segments.
(3)See Note 12. Restructuring Plans for further information.
(4)Integration, site consolidation and other costs are $80 million and $38 million in the years ended June 30, 2026 and June 30, 2025, respectively, and primarily consist of consulting and legal costs related to initiatives to integrate recent acquisitions into common technology systems, to divest businesses and simplify legal entity structure. Integration and site consolidation costs in the year ended June 30, 2024 primarily include consulting costs related to initiatives to integrate recent acquisitions into common technology systems and simplify legal entity structure, and employee severance and retention and other costs related to sites being shut down as part of our 2023 Restructuring Plan or Synergy and Site Consolidation Plan.
The following tables summarizes depreciation and amortization by segment ($000):
Year Ended June 30,
Depreciation and amortization202620252024
Datacenter & Communications$212,560 $209,293 $213,693 
Industrial304,960 339,377 340,601 
Corporate and shared services4,375 4,928 5,467 
Total depreciation and amortization$521,895 $553,598 $559,761 
Geographic information for revenues, by location of the customer’s headquarters, were as follows ($000):
Revenues
Year Ended June 30,202620252024
North America$4,633,696 $3,564,846 $2,622,569 
Europe814,176 698,800 714,282 
China813,377 680,110 621,918 
Japan390,373 390,610 340,863 
Rest of World466,559 475,749 408,056 
Total$7,118,181 $5,810,115 $4,707,688 
Major Customers
One major customer accounted for 20%, 10%, and 10% of consolidated revenue during fiscal 2026, 2025 and 2024, respectively. A second major customer accounted for 12% of consolidated revenue during fiscal 2026. A third major customer accounted for 12% of consolidated revenue during fiscal 2025. Revenue from these customers was primarily attributable to our Datacenter & Communications segment.
Geographic information for long-lived assets by country, which include property, plant and equipment, net of related depreciation, and certain other long-term assets, were as follows ($000):
Long-Lived Assets
June 30,20262025
United States$1,394,823 $1,092,389 
Non-United States
China968,796 402,960 
Malaysia473,786 196,543 
Germany189,819 189,281 
Vietnam119,145 65,565 
Sweden98,517 51,032 
Switzerland68,031 49,602 
Philippines35,754 25,406 
United Kingdom19,479 20,594 
Korea13,704 16,037 
Australia14,516 9,014 
Taiwan4,266 6,063 
Other31,680 23,044 
Total Non-United States2,037,493 1,055,141 
$3,432,316 $2,147,530