The Company recorded restructuring benefit of $0.4 million and restructuring and related charges of $14.4 million during the three months ended March 31, 2025 and 2024, respectively. The Company recorded $1.9 million and $26.3 million of restructuring and related charges during the nine months ended March 31, 2025 and 2024, respectively. These charges primarily included severance and benefits costs and professional fees related to the restructuring plans executed in prior years.

During the third quarter of fiscal 2024, the Company executed a global reduction-in-force plan targeted towards the reorganization of the Company's research and development and sales and marketing functions to align the Company's workforce with its strategic priorities and to focus on specific geographies and industry segments with higher growth opportunities (the “Q3 2024 Plan”). During the three and nine months ended March 31, 2025, the Company recorded restructuring benefit of $0.2 million and restructuring charges of $1.3 million, respectively, related to the Q3 2024 Plan, which primarily consisted of additions to severance and benefits expenses, legal and consulting fees and reversals of previously established accruals related to unused severance benefits. During the three and nine months ended March 31, 2024, the Company recorded restructuring charges of $9.7 million related to the Q3 2024 Plan, which primarily consisted of severance and benefits expenses.

During the second quarter of fiscal 2024, the Company executed a global reduction-in-force plan to rebalance its workforce to create greater efficiency and improve execution, in alignment with the Company's business and strategic priorities, while reducing its ongoing operating expenses to address reduced revenue and macro-economic conditions (the “Q2 2024 Plan”). During the three and nine months ended March 31, 2025, the Company recorded restructuring benefit of $0.2 million and restructuring charges $0.4 million, respectively, related to the Q2 2024 Plan, which primarily consisted of additions to severance and benefits expenses, legal fees and consulting fees and reversals of previously established accruals related to unused severance benefits. During the three and nine months ended March 31, 2024, the Company recorded restructuring charges of $4.6 million and $13.3 million, respectively, related to the Q2 2024 Plan, which primarily consisted of severance and benefits expenses, legal and consulting fees.

Through March 31, 2025, the Company has incurred $28.7 million in restructuring charges under the Q2 2024 Plan and Q3 2024 Plan which primarily related to severance and benefits costs. The Company expects to complete these ongoing restructuring plans by the end of fiscal year 2025 and does not expect to incur any significant additional charges for the Q2 2024 Plan and the Q3 2024 Plan.

During the third quarter of fiscal 2023, the Company initiated a restructuring plan to transform its business infrastructure and reduce its facilities footprint and the facilities related charges (the “2023 Plan”). As part of this project, the Company moved engineering labs from its San Jose, California location to its Salem, New Hampshire location. This move is expected to help reduce the cost of operating the Company's labs. During the nine months ended March 31, 2025, the Company recorded restructuring charges of $0.1 million related to the 2023 Plan. The Company expects to complete the 2023 Plan by the end of fiscal year 2026 and expects to incur charges of approximately $1.0 million throughout this period, primarily for asset disposals and other fees. Through March 31, 2025, the Company has incurred $6.6 million of restructuring charges under the 2023 Plan, which primarily consisted of $5.9 million in accelerated depreciation on lab leasehold improvements and $0.7 million in other charges related to moving expenses and asset disposal costs.

During the first quarter of fiscal 2024, the Company initiated a reduction-in-force plan to rebalance the workforce to create greater efficiency and improve execution in alignment with the Company's business and strategic priorities (the “Q1 2024 Plan”). It consisted

primarily of workforce reduction to drive productivity in research and development, sales and marketing and provide efficiency across operations and general and administrative functions. During the nine months ended March 31, 2024, the Company incurred charges of $2.9 million related to the Q1 2024 Plan. As of June 30, 2024, the Q1 2024 Plan was completed.

Restructuring liabilities are recorded in “Other accrued liabilities” in the accompanying condensed consolidated balance sheets. As of March 31, 2025 and 2024, the restructuring liability was $2.1 million and $17.0 million, respectively related to these restructuring plans.

The following table summarizes the activity related to the Company’s restructuring and related liabilities during the following periods (in thousands):


	Three Months Ended						Nine Months Ended
	March 31, 2025			March 31, 2024			March 31, 2025			March 31, 2024
Balance at beginning of period	$	3,398		$	6,192		$	11,469		$	—
Period charges		557			14,937			3,264			27,113
Period reversals		(996	)		(516	)		(1,389	)		(802	)
Period payments		(903	)		(3,641	)		(11,288	)		(9,339	)
Balance at end of period	$	2,056		$	16,972		$	2,056		$	16,972