v3.26.1
UNAUDITED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Mar. 29, 2026
Jun. 29, 2025
Current assets:    
Cash and cash equivalents $ 695.1 $ 467.2
Short-term investments 469.7 488.2
Total cash, cash equivalents and short-term investments 1,164.8 955.4
Accounts receivable, net 96.8 178.8
Inventories, net 280.5 435.4
Prepaid expenses 43.0 97.2
Investment tax credit receivable 71.5 653.4
Other current assets 52.5 222.0
Total current assets 1,709.1 2,542.2
Property and equipment, net 717.1 3,916.5
Intangible assets, net 409.2 23.8
Long-term investment tax credit receivable 109.5 105.0
Other assets 202.4 266.9
Total assets 3,147.3 6,854.4
Current liabilities:    
Accounts payable and accrued expenses 115.7 280.2
Contract liabilities and distributor-related reserves 70.5 50.0
Income taxes payable 0.6 0.8
Finance lease liabilities 0.3 0.5
Current maturity on long-term borrowings 0.0 6,538.0
Other current liabilities 56.0 220.5
Total current liabilities 243.1 7,090.0
Long-term liabilities:    
Long-term debt 922.2 0.0
Convertible notes, net 798.3 0.0
Finance lease liabilities - long-term 1.8 8.4
Other long-term liabilities 160.2 203.1
Total liabilities 2,125.6 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 March 29, 2026 and June 29, 2025, respectively; none issued and outstanding 0.0 0.0
Common stock, par value $0.00125; 350,000 and 400,000 shares authorized at March 29, 2026 and June 29, 2025, respectively; 48,338 and 155,643 shares issued and outstanding at March 29, 2026 and June 29, 2025, respectively 0.1 0.2
Additional paid-in-capital 1,292.3 4,094.1
Accumulated other comprehensive loss (0.2) (3.8)
Accumulated deficit (270.5) (4,537.6)
Total stockholders' equity (deficit) 1,021.7 (447.1)
Total liabilities and stockholders’ equity (deficit) $ 3,147.3 $ 6,854.4