v3.26.1
Revenues from contracts with customers
 12 Months Ended
Jun. 26, 2026
Revenue from Contract with Customer [Abstract]  
Revenues from contracts with customers Revenues from contracts with customers
Contract Assets and Liabilities
A contract asset is recognized when the Company has recognized revenues, but has not yet issued an invoice to its customer for payment. Contract assets are recognized in the consolidated balance sheets under other current assets and transferred to accounts receivable when rights to payment become unconditional. No impairment for contract assets was recorded for the years ended June 26, 2026, June 27, 2025 and June 28, 2024.
As of June 26, 2026 and June 27, 2025, the Company's contract assets were immaterial amount.
A contract liability is recognized when the Company has advance payment arrangements with customers. Contract liabilities are recognized in the consolidated balance sheets under other payables. The contract liabilities balance is normally recognized as revenue within six months.
The following tables summarize the activity in the Company’s contract liabilities during the years ended June 26, 2026, June 27, 2025, and June 28, 2024:
(in thousands)Contract 
Liabilities
Balance as of June 30, 2023$3,036 
Advance payment received during the year11,069 
Revenue recognized(6,259)
Balance as of June 28, 2024$7,846 
Advance payment received during the year23,640 
Revenue recognized(17,019)
Balance as of June 27, 2025$14,467 
Advance payment received during the year73,273 
Revenue recognized(83,503)
Balance as of June 26, 2026$4,237 
Customer Warrant
Warrants issued to customers are accounted for as equity instruments and measured in accordance with ASC 718, Compensation – Stock Compensation. For awards granted to a customer which are not in exchange for distinct goods or services, the fair value of the awards earned based on service or performance conditions is recorded as a reduction of the transaction price, in accordance with ASC 606, Revenue from Contracts with Customers.
To determine the fair value of warrants in accordance with ASC 718, the Company uses the Black-Scholes option pricing model, based in part on assumptions for which management is required to use judgment. Based on the fair value of the awards, the Company determines the amount of warrant expense based on the customer’s achievement of vesting conditions, which is recorded as a reduction of revenues on the consolidated statement of operations. The dilutive impact of customer warrants is determined using the treasury stock method.
For the years ended June 26, 2026 and June 27, 2025, the Company recognized $4.8 million and $4.1 million, respectively, as a reduction to revenue on the consolidated statements of operations.
Revenue by Geographic Area and End Market
Beginning in the fourth quarter of fiscal year 2026, the Company updated its geographic area presentation from the bill-to-location of its customers to the ship-to-location of its customers, and updated its revenue category presentation from optical communications and non-optical communications to data center, communications infrastructure, and automotive, industrial and other markets. Prior periods have been recast to conform to the current presentation.
Total revenues are attributed to a particular geographic area based on the ship-to-location of the Company’s customers. The Company operates primarily in three geographic regions: Asia-Pacific and others; North America; and Europe.
The following table presents total revenues by geographic regions:
Years Ended
(in thousands, except percentages)June 26,
2026		As a %
of Total
Revenues		June 27,
2025		As a %
of Total
Revenues		June 28,
2024		As a %
of Total
Revenues
Asia-Pacific and others
Thailand$2,842,089 $2,123,346 $1,817,517 
Singapore254,710 220,282 200,494 
Malaysia113,926 39,275 33,853 
China88,373 58,881 62,088 
Israel54,832 34,802 15,626 
Japan38,040 34,419 21,586 
Others35,509 30,994 94,431 
   Total revenue in Asia-Pacific and others3,427,479 73.9 %2,541,999 74.3 %2,245,595 77.9 %
North America
U.S.965,419 679,546 481,664 
Mexico70,565 45,514 34,958 
Others (1)
18,261 12,951 7,104 
   Total revenue in North America1,054,245 22.7 738,011 21.6 523,726 18.2 
Europe
Germany49,289 45,015 42,542 
U.K.36,542 25,327 15,554 
Others73,542 68,975 55,550 
   Total revenue in Europe159,373 3.4 139,317 4.1 113,646 3.9 
         Total revenue$4,641,097 100.0 %$3,419,327 100.0 %$2,882,967 100.0 %
(1)    Others includes Cayman Islands, our country of domicile. For each year presented, we had no revenue attributed to customers in the Cayman Islands.
The following table presents revenues by end market and product category.
(in thousands, except percentages)Year ended June 26, 2026As a % of Total
Revenues		Year ended June 27, 2025As a % of Total
Revenues		Year ended June 28, 2024As a % of Total
Revenues
Data center (1)
$2,225,081 47.9 %$1,579,915 46.2 %$1,529,693 53.1 %
Communications infrastructure (2)
1,546,403 33.3 1,049,397 30.7 767,368 26.6 
Automotive, Industrial and Others (3)
869,613 18.8 790,015 23.1 585,906 20.3 
Total revenue$4,641,097 100.0 %$3,419,327 100.0 %$2,882,967 100.0 %
(1)    Data center includes data center interconnect (DCI), high-performance computing (HPC), and other data center-specific applications.
(2)    Communications infrastructure includes communications and networking products that are not specific to data center applications, primarily telecommunications products excluding DCI.
(3)    Automotive, Industrial and Others includes products serving automotive components, industrial, medical devices and sensors.