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Operating Segments and Geographic Information (Tables)

3 Months Ended

Sep. 27, 2025

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 September 27, 2025 and September 28, 2024 (in millions):

						Three Months Ended September 27, 2025
						Network and Service Enablement						Optical Security and Performance Products												Total
Product revenue						$	174.3					$	83.1											$	257.4
Service revenue						41.7						—												41.7
Net revenue						216.0						$	83.1											$	299.1
Cost of revenues						79.9						39.6
Research and development						48.9						3.9
Selling, general and administrative						43.5						6.2
Other segment items(1)						27.4						2.6
Total operating expense						119.8						12.7
Segment operating income						$	16.3					$	30.8											$	47.1
Segment operating margin						7.5		%				37.1		%
Unallocated other expenses																								(39.5)
Loss on convertible note extinguishment																								(3.8)
Interest and other income, net																								1.3
Interest expense																								(7.4)
Loss before income taxes and equity investment losses																								$	(2.3)
Inventories, net						$	82.0					$	42.5											$	124.5
Assets not allocated to segments																								1,957.6
Total assets																								$	2,082.1

						Three Months Ended September 28, 2024
						Network and Service Enablement						Optical Security and Performance Products												Total
Product revenue						$	118.7					$	78.8											$	197.5
Service revenue						40.7						—												40.7
Net revenue						$	159.4					$	78.8											$	238.2
Cost of revenues						62.3						35.2
Research and development						42.1						4.7
Selling, general and administrative						37.4						5.6
Other segment items(1)						24.9						2.1
Total operating expense						104.4						12.4
Segment operating (loss) income						$	(7.3)					$	31.2											$	23.9
Segment operating margin						(4.6)		%				39.6		%
Unallocated other expenses																								(12.4)
Interest and other income, net																								3.2
Interest expense																								(7.5)
Income before income taxes and equity investment losses																								$	7.2
Inventories, net						$	49.2					$	44.0											$	93.2
Assets not allocated to segments																								1,644.4
Total assets																								$	1,737.6

(1)Other segment items represents allocation of corporate level operating expenses.

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 September 27, 2025 and September 28, 2024 (in millions):

			Three Months Ended
			September 27, 2025																		September 28, 2024
			Product Revenue						Service Revenue						Total						Product Revenue						Service Revenue						Total
Americas:
United States			$	91.9					$	14.8					$	106.7					$	58.4					$	14.6					$	73.0
Other Americas			18.1						4.0						22.1						11.7						4.0						15.7
Total Americas			$	110.0					$	18.8					$	128.8					$	70.1					$	18.6					$	88.7
Asia-Pacific:
Greater China			$	55.6					$	0.9					$	56.5					$	52.6					$	1.2					$	53.8
Other Asia-Pacific			30.2						5.4						35.6						26.2						5.9						32.1
Total Asia-Pacific			$	85.8					$	6.3					$	92.1					$	78.8					$	7.1					$	85.9
EMEA:			$	61.6					$	16.6					$	78.2					$	48.6					$	15.0					$	63.6
Total net revenue			$	257.4					$	41.7					$	299.1					$	197.5					$	40.7					$	238.2

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- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 25
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-25

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-30

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- References

No definition available.

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