REVENUE

9 Months Ended

Mar. 30, 2025

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				Nine Months Ended
	March 30, 2025		March 31, 2024		March 30, 2025		March 31, 2024
	(In thousands)
Systems revenue	$	3,035,276	$	2,395,817	$	8,053,655	$	6,751,758
Customer support-related revenue and other	1,684,899		1,397,741		5,210,543		4,282,121
	$	4,720,175	$	3,793,558	$	13,264,198	$	11,033,879

Systems revenue includes sales of new leading-edge equipment in deposition, etch, clean and other wafer fabrication 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				Nine Months Ended
	March 30, 2025		March 31, 2024		March 30, 2025		March 31, 2024
	(In thousands)
China	$	1,467,299	$	1,606,693	$	4,368,501	$	4,787,399
Korea	1,150,480		916,812		3,002,825		2,176,708
Taiwan	1,125,955		334,952		2,478,997		1,077,325
Japan	474,935		340,331		1,139,597		1,177,696
United States	189,512		227,085		1,091,174		728,098
Southeast Asia	178,287		190,328		710,394		495,060
Europe	133,707		177,357		472,710		591,593
	$	4,720,175	$	3,793,558	$	13,264,198	$	11,033,879

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				Nine Months Ended
	March 30, 2025		March 31, 2024		March 30, 2025		March 31, 2024
Memory	43	%	44	%	43	%	44	%
Foundry	48	%	44	%	42	%	39	%
Logic/integrated device manufacturing	9	%	12	%	15	%	17	%

Deferred Revenue

Revenue of $179.6 million and $862.7 million included in deferred profit at June 30, 2024 was recognized during the three and nine months ended March 30, 2025, representing 12% and 56%, 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 March 30, 2025 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	$	1,545,639	$	384,721	(1)	$	80,518	(1)	$	2,010,878

(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.