| Balance Sheet Components |
Balance Sheet Components Cash, cash equivalents, and restricted cash The following table provides a summary of cash, cash equivalents, and restricted cash reported within the consolidated balance sheets that reconciles to the corresponding amount in the consolidated statements of cash flows: | | | | | | | | | | | | | (In thousands) | July 3, 2026 | | June 27, 2025 | | Cash and cash equivalents | $ | 72,844 | | | $ | 59,690 | | Restricted cash included in long-term other assets | 1,865 | | | 2,323 | | | Total cash, cash equivalents, and restricted cash | $ | 74,709 | | | $ | 62,013 | |
Accounts receivable, net The following table provides a summary of accounts receivable, net reported within the consolidated balance sheets, net of allowances for expected credit losses: | | | | | | | | | | | | | (In thousands) | July 3, 2026 | | June 27, 2025 | | Accounts receivable | $ | 198,185 | | | $ | 183,904 | | | Less: allowances for credit losses | (5,940) | | | (3,583) | | | Total accounts receivable, net | $ | 192,245 | | | $ | 180,321 | |
Changes to the Company’s allowance for expected credit losses was as follows: | | | | | | | | | | | | | | | | | | | Fiscal Year | | (In thousands) | 2026 | | 2025 | | 2024 | | Balance, beginning of period | $ | 3,583 | | | $ | 1,854 | | | $ | 719 | | | Charges to (credits from) cost and expense | 2,357 | | | 1,729 | | | 1,300 | | | Write-offs | — | | | — | | | (165) | | | Balance, end of period | $ | 5,940 | | | $ | 3,583 | | | $ | 1,854 | |
Inventories | | | | | | | | | | | | | (In thousands) | July 3, 2026 | | June 27, 2025 | | Finished products | $ | 40,802 | | | $ | 55,972 | | | Raw materials and supplies | 27,278 | | | 26,273 | | | Customer service inventories | 925 | | | 1,734 | | | Total inventories | $ | 69,005 | | | $ | 83,979 | | | Consigned inventories included within raw materials | $ | 20,745 | | | $ | 21,047 | |
The Company records charges to adjust inventories due to excess and obsolete inventory resulting from lower sales forecasts, product transitioning or discontinuance. The charges incurred during fiscal 2026, 2025 and 2024 were classified in cost of product sales as follows: | | | | | | | | | | | | | | | | | | | Fiscal Year | | (In thousands) | 2026 | | 2025 | | 2024 | | Excess and obsolete inventory charges | $ | 1,430 | | | $ | 1,515 | | | $ | 3,042 | | | Customer service inventory write-downs | 278 | | | 915 | | | 910 | | | Total charges | $ | 1,708 | | | $ | 2,430 | | | $ | 3,952 | |
Property, plant and equipment, net | | | | | | | | | | | | | (In thousands) | July 3, 2026 | | June 27, 2025 | | | | | | Buildings and leasehold improvements | $ | 2,086 | | | $ | 2,086 | | | | | | | | | | Software and equipment | 82,648 | | | 77,566 | | | Total property, plant and equipment, gross | 84,734 | | | 79,652 | | | Less accumulated depreciation | (65,958) | | | (62,199) | | | Total property, plant and equipment, net | $ | 18,776 | | | $ | 17,453 | |
Included in the total plant, property and equipment above were $9.5 million and $10.3 million of assets in progress which have not been placed in service as of July 3, 2026, and June 27, 2025, respectively. Depreciation expense related to property, plant and equipment was $3.3 million, $5.3 million and $4.0 million in fiscal 2026, 2025 and 2024, respectively. Accrued expenses | | | | | | | | | | | | | (In thousands) | July 3, 2026 | | June 27, 2025 | | Taxes | $ | 12,734 | | | $ | 12,467 | | | Compensation and benefits | 9,477 | | | 9,929 | | | Warranties | 3,282 | | | 3,352 | | | Other | 8,632 | | | 13,149 | | | Total accrued expenses | $ | 34,125 | | | $ | 38,897 | |
The Company accrues for the estimated cost to repair or replace products under warranty. Changes in the accrued warranty liability were as follows: | | | | | | | | | | | | | | | | | | | Fiscal Year | | (In thousands) | 2026 | | 2025 | | 2024 | | Balance, beginning of period | $ | 3,352 | | | $ | 2,996 | | | $ | 2,100 | | | Warranty provision | 1,283 | | | 2,135 | | | 2,254 | | | Acquisition | — | | | 366 | | | 446 | | | Consumption | (1,353) | | | (2,145) | | | (1,804) | | | Balance, end of period | $ | 3,282 | | | $ | 3,352 | | | $ | 2,996 | |
Advance payments and unearned revenue | | | | | | | | | | | | | (In thousands) | July 3, 2026 | | June 27, 2025 | | Advance payments | $ | 18,490 | | | $ | 11,812 | | | Unearned revenue | 41,453 | | | 61,923 | | | Total advanced payments and unearned revenue | $ | 59,943 | | | $ | 73,735 | |
Excluded from the balances above are $9.0 million and $8.1 million in long-term unearned revenue as of July 3, 2026, and June 27, 2025, respectively.
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