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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
6 Months Ended
Dec. 28, 2024
Dec. 30, 2023
OPERATING ACTIVITIES:    
Net income $ 7.3 $ 20.5
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation expense 19.5 19.5
Amortization of acquired technologies and other intangibles 8.7 10.4
Stock-based compensation 26.4 23.7
Amortization of debt issuance costs 3.6 3.8
Net change in fair value of contingent liabilities (7.4) (8.4)
Deferred taxes, net (4.7) 3.1
Restructuring 1.2 (0.9)
Other (3.2) 2.3
Changes in operating assets and liabilities, net of acquisitions:    
Accounts receivable (2.3) 22.8
Inventories (0.1) (0.7)
Other current and non-currents assets 1.9 1.3
Accounts payable 5.9 (2.4)
Income taxes payable 3.4 (0.3)
Deferred revenue, current and non-current (6.9) (17.5)
Accrued payroll and related expenses 10.6 (4.4)
Accrued expenses and other current and non-current liabilities (5.7) (2.1)
Net cash provided by operating activities 58.2 70.7
INVESTING ACTIVITIES:    
Purchases of short-term investments (85.4) (115.0)
Maturities of short-term investments 83.8 105.3
Capital expenditures (15.5) (12.5)
Proceeds from the sale of assets 4.3 1.9
Other investing activities (3.0) 0.0
Net cash used in investing activities (15.8) (20.3)
FINANCING ACTIVITIES:    
Repurchase and retirement of common stock (16.4) (10.0)
Withholding tax payment on vesting of restricted stock and performance- based awards (8.3) (9.3)
Payment of financing obligations (0.1) (0.1)
Proceeds from employee stock purchase plan 2.7 3.0
Payment of acquisition related obligations 0.0 (1.0)
Payment of acquisition related contingent consideration 0.0 (0.9)
Other financing activities 0.2 0.0
Net cash used in financing activities (21.9) (18.3)
Effect of exchange rates on cash, cash equivalents and restricted cash (5.9) 4.9
Net increase in cash, cash equivalents and restricted cash 14.6 37.0
Cash, cash equivalents and restricted cash at the beginning of the period [1] 481.8 515.6
Cash, cash equivalents and restricted cash at the end of the period [2] $ 496.4 $ 552.6
[1] These amounts include both current and non-current balances of restricted cash totaling $10.5 million and $9.1 million as of June 29, 2024 and July 1, 2023, respectively.
[2] These amounts include both current and non-current balances of restricted cash totaling $8.4 million and $8.9 million as of December 28, 2024 and December 30, 2023, respectively.