REVENUE

6 Months Ended

Dec. 28, 2025

Revenue from Contract with Customer [Abstract]

REVENUE

REVENUE

Disaggregation of Revenue

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 28, 2025		December 29, 2024		December 28, 2025		December 29, 2024
	(In thousands)
Systems revenue	$	3,357,493	$	2,625,649	$	6,905,058	$	5,018,379
Customer support-related revenue and other	1,987,298		1,750,398		3,763,906		3,525,644
	$	5,344,791	$	4,376,047	$	10,668,964	$	8,544,023

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				Six Months Ended
	December 28, 2025		December 29, 2024		December 28, 2025		December 29, 2024
Revenue:	(In thousands)
China	$	1,858,547	$	1,342,798	$	4,141,120	$	2,901,202
Taiwan	1,069,093		737,674		2,096,307		1,353,042
Korea	1,060,486		1,090,264		1,836,787		1,852,345
Japan	548,311		363,276		1,077,608		664,662
Southeast Asia	413,905		287,318		716,159		532,107
United States	254,619		413,281		559,335		901,662
Europe	139,830		141,436		241,648		339,003
	$	5,344,791	$	4,376,047	$	10,668,964	$	8,544,023

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 28, 2025		December 29, 2024		December 28, 2025		December 29, 2024
Foundry	59	%	35	%	60	%	38	%
Memory	34	%	50	%	34	%	43	%
Logic/integrated device manufacturing	7	%	15	%	6	%	19	%

Deferred Revenue

Revenue of $498.1 million and $1,494.7 million included in deferred profit at June 29, 2025 was recognized during the three and six months ended December 28, 2025, representing 19% and 56% of the $2,681.1 million of deferred revenue as of June 29, 2025.

The following table summarizes the transaction price for contracts that have not yet been recognized as revenue as of December 28, 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	$	1,546,892	$	597,979	(1)	$	105,130	(1)	$	2,250,001

(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.