v3.26.1
UNAUDITED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($)
$ in Millions
Total
Common Stock
Additional Paid-in Capital
Accumulated Deficit
Accumulated Other Comprehensive (loss) income
Balance at beginning of period (in shares) at Jun. 30, 2024   126,409,000      
Balance at beginning of period at Jun. 30, 2024 $ 882.1 $ 0.2 $ 3,821.9 $ (2,928.4) $ (11.6)
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Net (loss) income (282.2)     (282.2)  
Net unrealized gain on available-for-sale securities 7.3       7.3
Tax withholding on vested equity awards (3.6)   (3.6)    
Stock-based compensation (in shares)   479,000      
Stock-based compensation 25.3   25.3    
Balance at end of period (in shares) at Sep. 29, 2024   126,888,000      
Balance at end of period at Sep. 29, 2024 628.9 $ 0.2 3,843.6 (3,210.6) (4.3)
Balance at beginning of period (in shares) at Jun. 30, 2024   126,409,000      
Balance at beginning of period at Jun. 30, 2024 882.1 $ 0.2 3,821.9 (2,928.4) (11.6)
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Net (loss) income (939.9)        
Net unrealized gain on available-for-sale securities 7.2        
Balance at end of period (in shares) at Mar. 30, 2025   155,623,000      
Balance at end of period at Mar. 30, 2025 212.7 $ 0.2 4,085.2 (3,868.3) (4.4)
Balance at beginning of period (in shares) at Sep. 29, 2024   126,888,000      
Balance at beginning of period at Sep. 29, 2024 628.9 $ 0.2 3,843.6 (3,210.6) (4.3)
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Net (loss) income (372.2)     (372.2)  
Net unrealized gain on available-for-sale securities (1.4)       (1.4)
Tax withholding on vested equity awards (0.1)   (0.1)    
Stock-based compensation (in shares)   99,000      
Stock-based compensation 19.7   19.7    
Issuance of Successor equity/Issuance of shares under the at-the-market offering program, net of issuance costs (in shares)   10,919,000      
Issuance of Successor equity/Issuance of shares under the at-the-market offering program, net of issuance costs 88.9   88.9    
Exercise of stock options and issuance of shares under employee stock purchase plan (in shares)   773,000      
Exercise of stock options and issuance of shares under employee stock purchase plan 8.8   8.8    
Balance at end of period (in shares) at Dec. 29, 2024   138,679,000      
Balance at end of period at Dec. 29, 2024 372.6 $ 0.2 3,960.9 (3,582.8) (5.7)
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Net (loss) income (285.5)     (285.5)  
Net unrealized gain on available-for-sale securities 1.3       1.3
Tax withholding on vested equity awards (0.2)   (0.2)    
Stock-based compensation (in shares)   69,000      
Stock-based compensation 18.2   18.2    
Issuance of Successor equity/Issuance of shares under the at-the-market offering program, net of issuance costs (in shares)   16,875,000      
Issuance of Successor equity/Issuance of shares under the at-the-market offering program, net of issuance costs 106.3   106.3    
Balance at end of period (in shares) at Mar. 30, 2025   155,623,000      
Balance at end of period at Mar. 30, 2025 $ 212.7 $ 0.2 4,085.2 (3,868.3) (4.4)
Balance at beginning of period (in shares) at Jun. 29, 2025 155,643,000 155,643,000      
Balance at beginning of period at Jun. 29, 2025 $ (447.1) $ 0.2 4,094.1 (4,537.6) (3.8)
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Net (loss) income (643.6)     (643.6)  
Net unrealized gain on available-for-sale securities 0.8       0.8
Tax withholding on vested equity awards (in shares)   (382,000)      
Tax withholding on vested equity awards (0.6)   (0.6)    
Stock-based compensation (in shares)   1,218,000      
Stock-based compensation $ 10.1   10.1    
Balance at end of period (in shares) at Sep. 28, 2025 156,479,390 156,479,000      
Balance at end of period at Sep. 28, 2025 $ (1,080.4) $ 0.2 4,103.6 (5,181.2) (3.0)
Balance at beginning of period (in shares) at Jun. 29, 2025 155,643,000 155,643,000      
Balance at beginning of period at Jun. 29, 2025 $ (447.1) $ 0.2 4,094.1 (4,537.6) (3.8)
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Net (loss) income 420.2        
Net unrealized gain on available-for-sale securities 0.8        
Balance at end of period (in shares) at Sep. 29, 2025   25,841,000      
Balance at end of period at Sep. 29, 2025 $ 757.1 $ 0.0 757.1 0.0 0.0
Balance at beginning of period (in shares) at Sep. 28, 2025 156,479,390 156,479,000      
Balance at beginning of period at Sep. 28, 2025 $ (1,080.4) $ 0.2 4,103.6 (5,181.2) (3.0)
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Net (loss) income 1,063.8     1,063.8  
Stock-based compensation 61.5   61.5    
Cancellation of Predecessor equity (in shares)   (156,479,000)      
Cancellation of Predecessor equity (44.9) $ (0.2) (4,165.1) 4,117.4 3.0
Issuance of Successor equity/Issuance of shares under the at-the-market offering program, net of issuance costs (in shares)   25,841,000      
Issuance of Successor equity/Issuance of shares under the at-the-market offering program, net of issuance costs 569.1   569.1    
Substantial premium on 2L Convertible Notes 168.8   168.8    
Contingent Shares (Unissued) 19.2   19.2    
Balance at end of period (in shares) at Sep. 29, 2025   25,841,000      
Balance at end of period at Sep. 29, 2025 757.1 $ 0.0 757.1 0.0 0.0
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Net (loss) income (270.5)        
Net unrealized gain on available-for-sale securities $ (0.2)        
Balance at end of period (in shares) at Mar. 29, 2026 48,338,000 48,338,000      
Balance at end of period at Mar. 29, 2026 $ 1,021.7 $ 0.1 1,292.3 (270.5) (0.2)
Balance at beginning of period (in shares) at Sep. 30, 2025   25,841,000      
Balance at beginning of period at Sep. 30, 2025 757.1 $ 0.0 757.1 0.0 0.0
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Net (loss) income (150.6)     (150.6)  
Net unrealized gain on available-for-sale securities 0.4       0.4
Stock-based compensation 2.4   2.4    
Conversion of Convertible Notes (in shares)   1,524,000      
Conversion of Convertible Notes 18.1   18.1    
Balance at end of period (in shares) at Dec. 28, 2025   27,365,000      
Balance at end of period at Dec. 28, 2025 627.4 $ 0.0 777.6 (150.6) 0.4
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Net (loss) income (119.9)     (119.9)  
Settlement of equity forward for common shares (in shares)   16,852,000      
Settlement of equity forward for common shares 292.1 $ 0.1 $ 292.0    
Contingent Shares (Issued) (in shares)     871,000    
Net unrealized gain on available-for-sale securities (0.6)       (0.6)
Stock-based compensation 10.0   $ 10.0    
Reclassification of Renesas conversion option 87.9   87.9    
Reclassification of Renesas stock warrant liability 31.5   31.5    
Proceeds from the issuance of warrants, net of issuance costs 35.6   35.6    
Issuance of Successor equity/Issuance of shares under the at-the-market offering program, net of issuance costs (in shares)   3,250,000      
Issuance of Successor equity/Issuance of shares under the at-the-market offering program, net of issuance costs $ 57.7   57.7    
Balance at end of period (in shares) at Mar. 29, 2026 48,338,000 48,338,000      
Balance at end of period at Mar. 29, 2026 $ 1,021.7 $ 0.1 $ 1,292.3 $ (270.5) $ (0.2)