v3.26.1
Revenue Recognition (Tables)
 12 Months Ended
Jun. 27, 2026
Revenue from Contract with Customer [Abstract]  
Schedule of Concentration Risks
During the years ended June 27, 2026, June 28, 2025, and June 29, 2024, net revenue from a single end customer which represented 10% or greater of total net revenue is summarized as follows:
Years Ended
June 27, 2026June 28, 2025June 29, 2024
Customer A26.6 %15.4 %18.9 %
Customer B15.0 %16.0 %11.4 %
The following table sets forth accounts receivable from a single customer that represented 10% or greater of the total accounts receivable for the periods presented:
June 27, 2026June 28, 2025
Customer 130.4 %13.2 %
Customer 210.7 %11.0 %
Years Ended
June 27, 2026June 28, 2025June 29, 2024
Amount% to TotalAmount% to TotalAmount% to Total
Components$2,005.6 66.5 %$1,116.3 67.9 %$822.1 60.5 %
Systems1,008.4 33.5 %528.7 32.1 %537.1 39.5 %
Net revenue$3,014.0 100.0 %$1,645.0 100.0 %$1,359.2 100.0 %
Refer to “Note 17. Operating Segments and Geographic Information” for a presentation of disaggregated revenue by geography.
Schedule of Changes in Contract Balances
The following table reflects the changes in contract balances for the periods presented (in millions, except percentages):
Contract balancesBalance sheet locationJune 27, 2026June 28, 2025ChangePercentage Change
Accounts receivable, net Accounts receivable, net $520.3 $250.0 $270.3 108.1%
Deferred revenue and customer deposits (1)
Other current liabilities
$15.4 $0.7 $14.7 n/a
Deferred revenue and customer deposits
Other non-current liabilities
$1.4 $— $1.4 n/a
(1) We recorded a $9.9 million below-market contract liability related to our acquisition of a business in March 2026 in our consolidated balance sheets, which will be amortized and recorded as revenue over the term of the supply agreement. During the twelve months ended June 27, 2026, we have recognized approximately $2.3 million of this amount to net revenue. The remaining balance of about $7.6 million was recorded as other current liabilities in our consolidated balance sheets as of June 27, 2026. Refer to “Note 4. Business Combination” for details.