REVENUE

3 Months Ended

Sep. 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
	September 29, 2024		September 24, 2023
	(In thousands)
Systems revenue	$	2,392,730	$	2,056,655
Customer support-related revenue and other	1,775,246		1,425,407
	$	4,167,976	$	3,482,062

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
	September 29, 2024		September 24, 2023
	(In thousands)
China	$	1,558,404	$	1,687,311
Korea	762,081		547,945
Taiwan	615,368		242,490
United States	488,381		282,224
Japan	301,386		324,520
Southeast Asia	244,789		159,103
Europe	197,567		238,469
	$	4,167,976	$	3,482,062

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
	September 29, 2024		September 24, 2023
Memory	35	%	38	%
Foundry	41	%	36	%
Logic/integrated device manufacturing	24	%	26	%

Deferred Revenue

Revenue of $371.4 million included in deferred profit at June 30, 2024 was recognized during the three months ended September 29, 2024, representing 24% 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 September 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	$	1,575,595	$	410,209	(1)	$	61,239	(1)	$	2,047,043

(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.