v3.23.1
Revenues from contracts with customers
 9 Months Ended
Mar. 31, 2023
Revenue from Contract with Customer [Abstract]  
Revenues from contracts with customers Revenues from contracts with customers
Revenue by Geographic Area and End Market
Revenues are attributed to a particular geographic area based on the bill-to-location of the Company’s customers. The Company operates in three geographic regions: North America; Asia-Pacific and others; and Europe.
The following table presents total revenues by geographic region:
(in thousands, except percentages)Three Months Ended
March 31, 2023		As a % of Total
Revenues		Nine Months Ended
March 31, 2023		As a % of Total
Revenues
North America
   U.S.$310,100 $975,098 
   Others (1)
6,035 13,693 
Total revenue in North America316,135 47.5 %988,791 49.7 %
Asia-Pacific and others
   India85,731 247,942 
   Israel85,562 182,732 
   Hong Kong37,120 109,315 
   Malaysia30,688 130,402 
   Thailand16,706 45,420 
   China11,194 60,738 
   Japan10,044 32,129 
   Others2,896 7,957 
Total revenue in Asia-Pacific and others279,941 42.1 %816,635 41.1 %
Europe
   U.K.40,292 103,440 
   Germany14,532 40,975 
   Ireland (2)
176 438 
   Others14,205 39,087 
Total revenue in Europe$69,205 10.4 %$183,940 9.2 %
Total revenue$665,281 100.0 %$1,989,366 100.0 %
(in thousands, except percentages)Three Months Ended
March 25, 2022		As a % of Total
Revenues		Nine Months Ended
March 25, 2022		As a % of Total
Revenues
North America
   U.S.$292,475 $781,469 
   Others (1)
4,123 8,996 
   Total revenue in North America296,598 52.5 %790,465 47.2 %
Asia-Pacific and others 
   India70,956 210,009 
   Malaysia51,188 163,306 
   Hong Kong17,338 61,575 
   Israel16,883 67,318 
   Japan16,449 47,258 
   China12,843 40,624 
   Others10,559 34,349 
   Total revenue in Asia-Pacific and others196,216 34.8 %624,439 37.3 %
Europe
   Ireland (2)
28,640 133,024 
   U.K.21,632 64,151 
   Germany10,688 28,098 
   Others10,621 34,173 
   Total revenue in Europe$71,581 12.7 %$259,446 15.5 %
         Total revenue$564,395 100.0 %$1,674,350 100.0 %
(1)Others includes revenues from external customers based in our country of domicile, the Cayman Islands, which for each year presented is $0.
(2)Due to change in bill-to-location for a certain customer.
The following table presents revenues by end market:
(in thousands, except percentages)Three Months Ended
March 31, 2023		As a % of Total
Revenues		Nine Months Ended
March 31, 2023		As a % of Total
Revenues
Optical communications$502,615 75.5 %$1,506,232 75.7 %
Lasers, sensors and other162,666 24.5 %483,134 24.3 %
Total$665,281 100.0 %$1,989,366 100.0 %

(in thousands, except percentages)Three Months Ended
March 25, 2022		As a % of Total
Revenues		Nine Months Ended
March 25, 2022		As a % of Total
Revenues
Optical communications$440,003 78.0 %$1,318,087 78.7 %
Lasers, sensors and other124,392 22.0 %356,263 21.3 %
Total$564,395 100.0 %$1,674,350 100.0 %
Contract Assets and Liabilities
A contract asset is recognized when the Company has recognized revenues prior to generating an invoice for payment. Contract assets are classified separately within the unaudited condensed consolidated balance sheets and transferred to accounts receivable when rights to payment become unconditional.
A contract liability is recognized when the Company has advance payment arrangements with customers. The contract liabilities balance is normally recognized as revenue within six months.
The following tables summarize the activity in the Company’s contract assets and contract liabilities during the nine months ended March 31, 2023:
(in thousands)Contract
Assets
Beginning balance, June 24, 2022
$13,464 
Revenue recognized57,617 
Amounts collected or invoiced(50,000)
Ending balance, March 31, 2023
$21,081 
(in thousands)Contract
Liabilities
Beginning balance, June 24, 2022
$1,982 
Advance payment received during the period13,073 
Revenue recognized(11,806)
Ending balance, March 31, 2023
$3,249