v3.24.0.1
Revenues from contracts with customers
 6 Months Ended
Dec. 29, 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
December 29, 2023		As a % of Total
Revenues		Six Months Ended
December 29, 2023		As a % of Total
Revenues
North America
   U.S.$238,288 $493,147 
Others (1)
3,331 6,791 
Total revenue in North America241,619 33.9 %499,938 35.8 %
Asia-Pacific and others
   Israel (2)
267,038 477,714 
   India75,033 145,810 
   Malaysia36,626 69,945 
   China21,262 41,522 
   Hong Kong12,150 27,938 
   Thailand10,403 23,430 
   Japan5,826 12,636 
   Others1,570 2,735 
Total revenue in Asia-Pacific and others429,908 60.3 %801,730 57.3 %
Europe
   U.K.18,870 48,644 
   Germany10,395 23,175 
   Others11,902 24,684 
Total revenue in Europe$41,167 5.8 %$96,503 6.9 %
Total revenue$712,694 100.0 %$1,398,171 100.0 %
(in thousands, except percentages)Three Months Ended
December 30, 2022		As a % of Total
Revenues		Six Months Ended
December 30, 2022		As a % of Total
Revenues
North America
   U.S.$319,918 $664,998 
Others (1)
4,033 7,657 
Total revenue in North America323,951 48.5 %672,655 50.8 %
Asia-Pacific and others
   India82,178 162,211 
   Israel59,893 97,170 
   Malaysia50,390 99,714 
   Hong Kong39,723 72,195 
   China26,480 49,544 
   Thailand16,098 28,714 
   Japan11,737 22,085 
   Others1,901 5,061 
Total revenue in Asia-Pacific and others288,400 43.1 %536,694 40.5 %
Europe
   U.K.30,316 63,148 
   Germany13,129 26,443 
   Others12,860 25,145 
Total revenue in Europe$56,305 8.4 %$114,736 8.7 %
Total revenue$668,656 100.0 %$1,324,085 100.0 %
(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 increase in revenue from a significant customer.
The following table presents revenues by end market:
(in thousands, except percentages)Three Months Ended
December 29, 2023		As a % of Total
Revenues		Six Months Ended
December 29, 2023		As a % of Total
Revenues
Optical communications$567,934 79.7 %$1,101,191 78.8 %
Automotive, lasers and other144,760 20.3 %296,980 21.2 %
Total$712,694 100.0 %$1,398,171 100.0 %

(in thousands, except percentages)Three Months Ended
December 30, 2022		As a % of Total
Revenues		Six Months Ended
December 30, 2022		As a % of Total
Revenues
Optical communications$506,056 75.7 %$1,003,617 75.8 %
Automotive, lasers and other162,600 24.3 %320,468 24.2 %
Total$668,656 100.0 %$1,324,085 100.0 %
Contract Assets and Liabilities
A contract asset is recognized when the Company has recognized revenues, but has not yet issued an invoice to its customer for payment. Contract assets are recognized in the unaudited condensed consolidated balance sheets under other current assets and transferred to accounts receivable when rights to payment become unconditional.
As of December 29, 2023 and June 30, 2023, the Company's contract assets are de minimis.
A contract liability is recognized when the Company has advance payment arrangements with customers. Contract liabilities are recognized in the unaudited condensed consolidated balance sheets under other payables. The contract liabilities balance is normally recognized as revenue within six months.
The following tables summarize the activity in the Company’s contract liabilities during the six months ended December 29, 2023:
(in thousands)Contract
Liabilities
Beginning balance, June 30, 2023
$3,036 
Advance payments received during the period7,610 
Revenue recognized(4,325)
Ending balance, December 29, 2023
$6,321