Revenue

6 Months Ended

Jan. 02, 2026

Revenue from Contract with Customer [Abstract]

Revenue

Geographic Information and Concentrations of Risk

Disaggregated Revenue

The Company’s broad portfolio of technology and products addresses multiple end markets. Datacenter represents a large and growing end market comprised primarily of products for public or private cloud environments and enterprise customers. Through the Edge end market, the Company provides its original equipment manufacturer (“OEM”) and channel customers a broad array of high-performance flash solutions across personal computer, mobile, gaming, automotive, virtual reality headsets, at-home entertainment, and industrial spaces. The Consumer end market is highlighted by the Company’s broad range of retail and other end-user products, which capitalize on the strength of the Company’s product brand recognition and vast points of presence around the world.

The Company’s disaggregated revenue information was as follows:

	Three Months Ended				Six Months Ended
	January 2, 2026		December 27, 2024		January 2, 2026		December 27, 2024
	(in millions)
Revenue by end market:
Datacenter	$	440	$	250	$	709	$	550
Edge	1,678		1,028		3,065		2,097
Consumer	907		598		1,559		1,112
Total revenue	$	3,025	$	1,876	$	5,333	$	3,759
Revenue by geography:
Asia	$	2,063	$	1,086	$	3,578	$	2,236
Americas	513		389		919		832
Europe, Middle East and Africa	449		401		836		691
Total revenue	$	3,025	$	1,876	$	5,333	$	3,759

The Company’s top 10 customers accounted for 44% and 40% of its net revenue for the three and six months ended January 2, 2026, respectively, and 42% and 46% of its net revenue for the three and six months ended December 27, 2024, respectively. For the three and six months ended January 2, 2026 and December 27, 2024, no customer accounted for more than 10% of the Company’s net revenue.

Revenue

Contract assets represent the Company’s right to consideration where performance obligations are completed but the customer payments are not due until another performance obligation is satisfied. The Company had no contract assets as of January 2, 2026 and June 27, 2025. Contract liabilities relate to customers’ payments in advance of performance under the contract and primarily relate to remaining performance obligations under professional service, support, and maintenance contracts. Contract liabilities as of January 2, 2026, and June 27, 2025, and changes in contract liabilities for the three and six months ended January 2, 2026 and December 27, 2024 were not material.

The Company incurs sales commissions as direct incremental costs to obtain sales contracts. The Company has applied the practical expedient to recognize sales commissions as an expense when incurred if the amortization period is expected to be one year or less or the amount is not material, with these costs charged to Selling, general and administrative expenses. The Company had no other direct incremental costs to obtain contracts with an expected benefit of more than one year.

The Company applies the practical expedients and does not disclose the transaction price allocated to the remaining performance obligations for (i) arrangements with an original expected duration of one year or less, mainly consisting of professional service, support, and maintenance contracts, and (ii) variable consideration for sale-based or usage-based royalties for intellectual property license arrangements, which typically range longer than one year. The remaining performance obligations are mainly attributed to right-to-access patent license arrangements, professional service arrangements, and customer support and service contracts, which will be recognized over their contract period. As of January 2, 2026, the transaction price allocated to the remaining performance obligations was not material.