14. Restructuring and Related Charges

During fiscal years ended June 30, 2026, 2025 and 2024, the Company recorded restructuring and related charges of $1.3 million, $1.5 million and $36.3 million, respectively. The charges are reflected in “Restructuring and related charges” in the consolidated statements of operations.

During fiscal 2026, the Company completed all of the restructuring plans initiated in prior years and incurred restructuring charges of $0.5 million for severance and benefits costs as well as asset disposal costs related to those plans. Additionally, the Company recorded approximately $0.7 million in restructuring charges related to facilities leases which included a one-time termination fee of $1.1 million for the early termination of one of the Company’s leased facilities, offset by a gain on reduction of the right-of-use asset and lease liability associated with that facility lease.

During the third quarter of fiscal 2024, the Company executed a global reduction-in-force plan targeted towards the reorganization of the Company's research and development and sales and marketing functions to align the Company's workforce with its strategic priorities and to focus on specific geographies and industry segments with higher growth opportunities (the “Q3 2024 Plan”). During the fiscal years ended June 30, 2026, 2025 and 2024 the Company recorded restructuring charges of approximately $0.4 million, $1.2 million and $11.0 million respectively, related to the Q3 2024 Plan, which primarily consisted of severance and benefits expenses, legal and consulting fees.

During the second quarter of fiscal 2024, the Company executed a global reduction-in-force plan to rebalance its workforce to create greater efficiency and improve execution, in alignment with the Company's business and strategic priorities, while reducing its ongoing operating expenses to address reduced revenue and macro-economic conditions (the “Q2 2024 Plan”). During the fiscal years ended June 30, 2026, 2025 and 2024, the Company recorded restructuring benefits of approximately $0.2 million, and restructuring charges of $0.1 million and $15.9 million, respectively, related to the Q2 2024 Plan, which primarily consisted of employee severance and benefits expenses, legal and consulting fees.

During the first quarter of fiscal 2024, the Company initiated a reduction-in-force plan to rebalance the workforce to create greater efficiency and improve execution in alignment with the Company's business and strategic priorities (the “Q1 2024 Plan”). It consisted primarily of workforce reduction to drive productivity in research and development, sales and marketing and provide efficiency across operations and general and administrative functions. During the fiscal year ended June 30, 2024, the Company incurred charges of approximately $2.9 million related to the Q1 2024 Plan. As of June 30, 2024, the plan was completed.

Through June 30, 2026, the Company incurred $31.4 million in restructuring charges under the Q1 2024, Q2 2024 Plan and Q3 2024 Plan which primarily related to severance and benefits costs. As of June 30, 2026, all the 2024 Plans are completed.

During the third quarter of fiscal 2023, the Company initiated a restructuring plan to transform its business infrastructure and reduce its facilities footprint and the facilities related charges (the “2023 Plan”). As part of this project, the Company moved engineering labs from its San Jose, California location to its Salem, New Hampshire location. This move was to help reduce the cost of operating the Company's labs. During the fiscal years ended June 30, 2026, 2025 and 2024, the Company recorded charges of approximately $0.3 million, $0.1 million and $6.6 million, respectively, related to the 2023 Plan, which primarily consisted of moving costs, asset disposal costs and accelerated depreciation on lab leasehold improvements. Through June 30, 2026, the Company incurred $9.9 million in restructuring charges under the 2023 Plan which primarily related to moving and asset disposal costs. As of June 30, 2026, the 2023 Plan is completed.

Restructuring liabilities are recorded in “Other accrued liabilities” in the accompanying consolidated balance sheets. As of June 30, 2026 the restructuring liability was $1.1 million related to the early termination fee for a leased facility. As of June 30, 2025 the restructuring liability was approximately $0.7 million related to accrual for severance and benefits for 2024 Plans.