REVENUE

6 Months Ended

Dec. 29, 2024

Revenue from Contract with Customer [Abstract]

REVENUE

REVENUE

Disaggregation of Revenue

The Company operates in one reportable business segment: manufacturing and servicing of wafer processing semiconductor manufacturing equipment. The Company’s material operating segments qualify for aggregation due to their customer base and similarities in economic characteristics, nature of products and services, and processes for procurement, manufacturing, and distribution.

The Company operates in seven geographic regions: United States, China, Europe, Japan, Korea, Southeast Asia, and Taiwan. For geographical reporting, revenue is attributed to the geographic location in which the customers’ facilities are located. The Company serves three primary markets: memory, foundry, and logic/integrated device manufacturing.

The following table presents the Company’s revenues disaggregated between systems and customer support-related revenue:

	Three Months Ended				Six Months Ended
	December 29, 2024		December 24, 2023		December 29, 2024		December 24, 2023
	(In thousands)
Systems revenue	$	2,625,649	$	2,299,286	$	5,018,379	$	4,355,941
Customer support-related revenue and other	1,750,398		1,458,973		3,525,644		2,884,380
	$	4,376,047	$	3,758,259	$	8,544,023	$	7,240,321

Systems revenue includes sales of new leading-edge equipment in deposition, etch and clean markets.

Customer support-related revenue includes sales of customer service, spares, upgrades, and non-leading-edge equipment from the Company’s Reliant® product line.

The following table presents the Company’s revenues disaggregated by geographic region:

	Three Months Ended				Six Months Ended
	December 29, 2024		December 24, 2023		December 29, 2024		December 24, 2023
	(In thousands)
China	$	1,342,798	$	1,493,395	$	2,901,202	$	3,180,706
Korea	1,090,264		711,951		1,852,345		1,259,896
Taiwan	737,674		499,883		1,353,042		742,373
United States	413,281		218,789		901,662		501,013
Japan	363,276		512,845		664,662		837,365
Southeast Asia	287,318		145,629		532,107		304,732
Europe	141,436		175,767		339,003		414,236
	$	4,376,047	$	3,758,259	$	8,544,023	$	7,240,321

The following table presents the percentages of leading- and non-leading-edge equipment and upgrade revenue to each of the primary markets the Company serves:

	Three Months Ended				Six Months Ended
	December 29, 2024		December 24, 2023		December 29, 2024		December 24, 2023
Memory	50	%	48	%	43	%	43	%
Foundry	35	%	38	%	38	%	37	%
Logic/integrated device manufacturing	15	%	14	%	19	%	20	%

Deferred Revenue

Revenue of $311.7 million and $683.1 million included in deferred profit at June 30, 2024 was recognized during the three and six months ended December 29, 2024, representing 20% and 44%, respectively, of the $1,551.6 million of deferred revenue as of June 30, 2024.

The following table summarizes the transaction price for contracts that have not yet been recognized as revenue as of December 29, 2024 and when the Company expects to recognize the amounts as revenue:

	Less than 1 Year		1-3 Years			More than 3 Years			Total
	(In thousands)
Deferred revenue	$	1,622,089	$	329,859	(1)	$	79,652	(1)	$	2,031,600

(1)This amount is reported in Deferred profit on the Company's Condensed Consolidated Balance Sheets as the customers can demand the performance to be satisfied at any time.