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Revenues from contracts with customers
 3 Months Ended
Sep. 25, 2026
Revenue from Contract with Customer [Abstract]  
Revenues from contracts with customers Revenues from contracts with customers
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 region:
(in thousands, except percentages)Three Months Ended
September 25, 2026		As a % of Total
Revenues		Three Months Ended
September 26, 2025		As a % of Total
Revenues
Asia-Pacific and others
   Thailand$807,529 $570,165 
   Singapore145,873 64,935 
   China25,595 20,194 
   Malaysia19,453 24,870 
   Israel18,483 14,264 
   India17,452 1,162 
   Hong Kong10,034 1,839 
   Others16,997 13,837 
   Total revenue in Asia-Pacific and others1,061,416 72.0 %711,266 72.7 %
North America
   U.S.342,810 205,546 
   Mexico13,117 21,982 
 Others (1)
6,933 3,967 
   Total revenue in North America362,860 24.6 %231,495 23.7 %
Europe
   U.K.15,768 6,123 
   Germany16,238 12,433 
   Others18,177 16,811 
   Total revenue in Europe$50,183 3.4 %$35,367 3.6 %
     Total revenue$1,474,459 100.0 %$978,128 100.0 %
(1)Others includes revenues from external customers based in our country of domicile, the Cayman Islands, which for each period presented is $0.
The following table presents revenues by end market and product category:
(in thousands, except percentages)Three Months Ended
September 25, 2026		As a % of Total
Revenues		Three Months Ended
September 26, 2025		As a % of Total
Revenues
Data center (1)
$777,132 52.7 %$437,610 44.7 %
Communications infrastructure (2)
443,917 30.1 %329,602 33.7 %
Automotive, Industrial and Others (3)
253,410 17.2 %210,916 21.6 %
Total revenue$1,474,459 100.0 %$978,128 100.0 %
(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.
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 unaudited condensed consolidated balance sheets under other current assets and transferred to accounts receivable when rights to payment become unconditional.
As of September 25, 2026 and June 26, 2026, the Company's contract assets were an immaterial amount.
A contract liability is recognized when the Company has advance payment arrangements with customers. Contract liabilities are recognized in the unaudited condensed consolidated balance sheets under other payables. The contract liabilities balance is normally recognized as revenue within six months.
The following table summarizes the activity in the Company’s contract liabilities:
Three Months Ended
(in thousands)September 25,
2026		September 26,
2025
Balance at the beginning of period$4,237 $14,467 
Advance payments received during the period8,073 4,074 
Revenue recognized(6,816)(8,765)
Balance at the end of period$5,494 $9,776 
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 three months ended September 25, 2026 and September 26, 2025, the Company recognized $2.5 million and $0.3 million, respectively, as a reduction to revenue on the unaudited condensed consolidated statements of operations.