v3.25.4
UNAUDITED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Dec. 28, 2025
Jun. 29, 2025
Current assets:    
Cash and cash equivalents $ 1,028.8 $ 467.2
Short-term investments 263.5 488.2
Total cash, cash equivalents and short-term investments 1,292.3 955.4
Accounts receivable, net 108.3 178.8
Inventories, net 320.1 435.4
Prepaid expenses 52.3 97.2
Investment tax credit receivable 72.5 653.4
Other current assets 87.1 222.0
Total current assets 1,932.6 2,542.2
Property and equipment, net 770.3 3,916.5
Intangible assets, net 426.8 23.8
Long-term investment tax credit receivable 109.5 105.0
Other assets 205.9 266.9
Total assets 3,445.1 6,854.4
Current liabilities:    
Accounts payable and accrued expenses 160.4 280.2
Contract liabilities and distributor-related reserves 76.6 50.0
Income taxes payable 0.8 0.8
Finance lease liabilities 0.5 0.5
Current maturity on long-term borrowings 0.0 6,538.0
Other current liabilities 58.8 220.5
Total current liabilities 297.1 7,090.0
Long-term liabilities:    
Long-term debt 1,430.2 0.0
Convertible notes, net 533.5 0.0
Finance lease liabilities - long-term 1.8 8.4
Other long-term liabilities 218.4 203.1
Forward equity contract 302.5 0.0
Long-term warrant 34.2 0.0
Total liabilities 2,817.7 7,301.5
Commitments and contingencies
Stockholders’ equity:    
Preferred stock, par value $0.00125 and $0.01; 100,000 and 3,000 shares authorized at December 28, 2025 and June 29, 2025, respectively; none issued and outstanding 0.0 0.0
Common stock 0.0 0.2
Additional paid-in-capital 777.6 4,094.1
Accumulated other comprehensive income (loss) 0.4 (3.8)
Accumulated deficit (150.6) (4,537.6)
Total stockholders' equity 627.4 (447.1)
Total liabilities and stockholders’ equity $ 3,445.1 $ 6,854.4