v3.26.1
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Jun. 28, 2026
Jun. 29, 2025
Current assets:    
Cash and cash equivalents $ 576.3 $ 467.2
Short-term investments 512.3 488.2
Total cash, cash equivalents and short-term investments 1,088.6 955.4
Accounts receivable, net 98.2 178.8
Inventories, net 234.2 435.4
Investment tax credit receivable 84.4 653.4
Prepaid expenses 38.8 97.2
Other current assets 45.2 222.0
Total current assets 1,589.4 2,542.2
Property and equipment, net 691.4 3,916.5
Intangible assets, net 392.2 23.8
Long-term investment tax credit receivable 116.5 105.0
Other assets 215.4 266.9
Total assets 3,004.9 6,854.4
Current liabilities:    
Accounts payable and accrued expenses 118.5 280.2
Contract liabilities and distributor-related reserves 61.1 50.0
Income taxes payable 0.7 0.8
Finance lease liabilities 0.2 0.5
Current maturity on long-term borrowings 0.0 6,538.0
Other current liabilities 51.1 220.5
Total current liabilities 231.6 7,090.0
Long-term liabilities:    
Long-term debt 931.0 0.0
Convertible notes, net 756.5 0.0
Finance lease liabilities - long-term 1.9 8.4
Other long-term liabilities 153.7 203.1
Total liabilities 2,074.7 7,301.5
Commitments and contingencies
Stockholders’ equity:    
Preferred stock, par value $0.00125 and $0.01; 100,000 and 3,000 shares authorized at June 28, 2026 and June 29, 2025; none issued and outstanding 0.0 0.0
Common stock, par value $0.00125; 350,000 shares authorized at June 28, 2026 and 400,000 shares authorized at June 29, 2025; 52,162 and 155,643 shares issued and outstanding at June 28, 2026 and June 29, 2025, respectively 0.1 0.2
Additional paid-in-capital 1,345.9 4,094.1
Accumulated other comprehensive loss 0.0 (3.8)
Accumulated deficit (415.8) (4,537.6)
Total stockholders' equity (deficit) 930.2 (447.1)
Total liabilities and stockholders’ equity (deficit) $ 3,004.9 $ 6,854.4