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Stock-Based Compensation (Tables)

12 Months Ended

Jun. 29, 2025

Share-Based Payment Arrangement [Abstract]

Schedule of Nonvested Restricted Stock Awards and Restricted Stock Unit Awards Outstanding

A summary of nonvested restricted stock units (RSUs) outstanding as of June 29, 2025 and changes during the year then ended is as follows (shares in thousands):

			Number of RSUs						Weighted Average Grant-Date Fair Value
Nonvested at June 30, 2024			3,038						$72.33
Granted			4,879						16.42
Vested			(908)						66.59
Forfeited			(2,382)						37.85
Nonvested at June 29, 2025			4,627						$32.41

Schedule of Total Stock-Based Compensation Expense

Total stock-based compensation expense was classified in the consolidated statements of operations as follows:

			Fiscal Years Ended
(in millions of U.S. Dollars)			June 29, 2025						June 30, 2024						June 25, 2023
Cost of revenue, net			$36.9						$28.5						$20.3
Research and development			11.6						11.4						11.2
Sales, general and administrative			24.8						45.0						41.2
Total stock-based compensation expense			$73.3						$84.9						$72.7

Schedule of Weighted Average Assumptions Utilized to Value Stock-Based Compensation

The range of assumptions used to value stock issued under the ESPP were as follows:

			Fiscal Years Ended
			June 29, 2025						June 30, 2024						June 25, 2023
Risk-free interest rate			4.28 - 5.21%						5.44 - 5.54%						4.57 - 5.06%
Expected life, in years			0.5 - 1.0						0.5 - 1.0						0.5 - 1.0
Volatility			73.7 - 100.2%						73.5 - 74.4%						66.8 - 86.2%
Dividend yield			—						—						—

The range of assumptions used for performance-based awards with market conditions were as follows:

			Fiscal Years Ended
			June 29, 2025						June 30, 2024						June 25, 2023
Risk-free interest rate			3.92%						4.52%						2.80%
Expected life, in years			3.0						3.0						3.0
Average volatility of peer companies			67.4%						65.9%						68.8%
Average correlation coefficient of peer companies			0.41						0.44						0.48
Dividend yield			—						—						—

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Tabular disclosure of allocation of amount expensed and capitalized for award under share-based payment arrangement to statement of income or comprehensive income and statement of financial position. Includes, but is not limited to, corresponding line item in financial statement.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (h)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

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Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 718
-SubTopic 10
-Subparagraph (f)(2)
-Name Accounting Standards Codification
-Paragraph 2
-Section 50
-Publisher FASB
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Disclosure of the number and weighted-average grant date fair value for restricted stock and restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock and restricted stock units that were granted, vested, or forfeited during the year.

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-Name Accounting Standards Codification
-Section 50
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