v3.26.3
Operating Segments and Geographic Information (Tables)
 3 Months Ended
Oct. 03, 2026
Segment Reporting [Abstract]  
Schedule of Information on Reportable Segments
The following tables present information on the Company’s reportable segments for the three months ended October 3, 2026 and September 27, 2025 (in millions):
Three Months Ended October 3, 2026
Network and Service EnablementOptical Security and Performance ProductsTotal
Product revenue$322.5 $93.2 $415.7 
Service revenue53.6 — 53.6 
Net revenue$376.1 $93.2 $469.3 
Cost of revenues127.3 40.0 
Research and development60.7 3.3 
Selling, general and administrative60.2 6.3 
Other segment items(1)
32.1 3.3 
Total operating expense153.0 12.9 
Segment operating income$95.8 $40.3 $136.1 
Segment operating margin25.5 %43.2 %
Unallocated other expenses(54.4)
Interest and other income, net10.3 
Interest expense(5.7)
Income before income taxes and equity investment earnings$86.3 
(1)Other segment items represents allocation of corporate level operating expenses.

Three Months Ended September 27, 2025
Network and Service EnablementOptical Security and Performance ProductsTotal
Product revenue $174.3 $83.1 $257.4 
Service revenue 41.7 — 41.7 
Net revenue$216.0 $83.1 $299.1 
Cost of revenues79.7 39.5 
Research and development48.5 3.9 
Selling, general and administrative43.1 6.2 
Other segment items(1)
26.9 2.6 
Total operating expense118.5 12.7 
Segment operating income$17.8 $30.9 $48.7 
Segment operating margin8.2 %37.2 %
Unallocated other expenses(41.1)
Loss on debt extinguishment(3.8)
Interest and other income, net1.3 
Interest expense(7.4)
Loss before income taxes and equity investment losses$(2.3)
(1)Other segment items represents allocation of corporate level operating expenses.
The following table presents information on the assets of the Company’s reportable segments at October 3, 2026 and June 27, 2026 (in millions):
October 3, 2026June 27, 2026
Assets:
Inventories:
NSE$128.2 $113.7 
OSP45.6 41.6 
Total inventories, net173.8 155.3 
Prepayments and other current assets - NSE(1)
30.3 22.0 
Assets not attributed to segments2,384.9 2,528.3 
Total assets$2,589.0 $2,705.6 
(1)The amount presented represents the prepayments and other current assets attributed to NSE that are reviewed by the CODM. Other NSE related prepayments and current assets are not included as they are not part of the CODM’s measure of segment assets.
The following table presents net revenue by the three geographic regions in which the Company operates and net revenue from countries that exceeded 10% of the Company’s total net revenue for the three months ended October 3, 2026 and September 27, 2025 (in millions):
Three Months Ended
October 3, 2026September 27, 2025
Product RevenueService RevenueTotalProduct RevenueService RevenueTotal
Americas:
United States$156.3 $22.5 $178.8 $91.9 $14.8 $106.7 
Other Americas22.5 4.7 27.2 18.1 4.0 22.1 
Total Americas$178.8 $27.2 $206.0 $110.0 $18.8 $128.8 
Asia-Pacific:
Greater China$77.5 $2.9 $80.4 $55.6 $0.9 $56.5 
Other Asia-Pacific73.4 8.9 82.3 30.2 5.4 35.6 
Total Asia-Pacific$150.9 $11.8 $162.7 $85.8 $6.3 $92.1 
EMEA:$86.0 $14.6 $100.6 $61.6 $16.6 $78.2 
Total net revenue$415.7 $53.6 $469.3 $257.4 $41.7 $299.1