Form 8-K

8-K — KLA CORP

Accession: 0000319201-26-000024

Filed: 2026-07-28

Period: 2026-07-28

CIK: 0000319201

SIC: 3827 (OPTICAL INSTRUMENTS & LENSES)

Item: Results of Operations and Financial Condition

Item: Financial Statements and Exhibits

Documents

8-K — klac-20260728.htm (Primary)

EX-99.1 (exhibit991earningsrelease7.htm)

XML — IDEA: XBRL DOCUMENT (R1.htm)

8-K

8-K (Primary)

Filename: klac-20260728.htm · Sequence: 1

klac-20260728

00003192012026FYfalse408875-300000003192012026-07-282026-07-28

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM

8-K

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of The

Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): July 28, 2026

KLA CORPORATION

(Exact name of registrant as specified in its charter)

Delaware 000-09992 04-2564110

(State or other jurisdiction of incorporation) (Commission File Number) (I.R.S. Employer Identification No.)

One Technology Drive Milpitas California 95035

(Address of principal executive offices) (Zip Code)

Registrant’s telephone number, including area code: (408) 875-3000

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class Trading Symbol(s) Name of each exchange on which registered

Common Stock, $0.001 par value per share KLAC The Nasdaq Stock Market, LLC

The Nasdaq Global Select Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

☐

Item 2.02 Results of Operations and Financial Condition.

On July 28, 2026, KLA Corporation (the “Company”) issued a press release announcing selected financial and operating results for its fourth quarter of and full fiscal year 2026. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K.

The information in Item 2.02 of this Current Report on Form 8-K and the exhibit attached hereto shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities under that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, regardless of any general incorporation language in such filing.

Item 9.01 Financial Statements and Exhibits.

(d)Exhibits

Exhibit No. Description

99.1

Press release issued July 28, 2026

104 Cover Page Interactive Data File (formatted as inline XBRL and contained in Exhibit 101)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

KLA CORPORATION

Date: July 28, 2026

By: /s/BREN D. HIGGINS

Name: Bren D. Higgins

Title: Executive Vice President and Chief Financial Officer

EX-99.1

Filename: exhibit991earningsrelease7.htm · Sequence: 2

Document

Exhibit 99.1

FOR IMMEDIATE RELEASE

Investor Relations: Media Relations:

Kevin Kessel, CFA Mike Dulin

Vice President, Investor Relations Corporate Communications

ir@kla.com media@kla.com

KLA CORPORATION REPORTS FISCAL 2026 FOURTH QUARTER AND FULL YEAR RESULTS

•For the quarter, total revenues were $3.66 billion, above the midpoint of the guidance range;

•GAAP diluted EPS was $1.04, at the upper end of the guidance range, and non-GAAP diluted EPS was $1.05, at the upper end of the guidance range;

•Cash flow from operating activities for the quarter and fiscal year was $906.4 million and $4.14 billion, respectively, and free cash flow was $817.1 million and $3.77 billion, respectively;

•Capital returns for the quarter and fiscal year were $876.3 million and $3.35 billion, respectively; and

•On June 11, 2026, after the market close, the company effected a ten-for-one stock split of its common stock and a proportional increase in the number of authorized shares of common stock. Share and per share information throughout this press release have been retroactively adjusted to reflect the stock split.

MILPITAS, Calif., July 28, 2026 - KLA Corporation (NASDAQ: KLAC) today announced financial and operating results for its fourth quarter and fiscal year ended June 30, 2026. KLA reported GAAP net income of $1.36 billion and GAAP diluted earnings per share (“EPS”) of $1.04 on total revenues of $3.66 billion for the fourth quarter of fiscal year 2026. For the fiscal year ended June 30, 2026, KLA reported GAAP net income of $4.83 billion and GAAP diluted EPS of $3.66 on total revenues of $13.58 billion.

“KLA’s June quarter results reinforce that the trends driving our growth are strengthening, and we see momentum across our business accelerating in the second half of calendar 2026 and continuing through 2027,” said Rick Wallace, president and CEO of KLA Corporation. “KLA remains uniquely positioned on the critical path of AI infrastructure expansion, where the increasing number and sophistication of leading-edge designs across foundry/logic and the rising complexity and performance specifications in memory are driving greater demand for process control. In addition, the AI infrastructure buildout is also driving new growth opportunities in advanced packaging where KLA’s market-leading process control product portfolio is well positioned.”

GAAP Results

Q4 FY 2026 Q3 FY 2026 Q4 FY 2025

Total Revenues $3,658 million $3,415 million $3,175 million

Net Income $1,363 million $1,201 million $1,203 million

Net Income per Diluted Share $1.04 $0.91 $0.91

Non-GAAP Results

Q4 FY 2026 Q3 FY 2026 Q4 FY 2025

Net Income $1,386 million $1,239 million $1,244 million

Net Income per Diluted Share $1.05 $0.94 $0.94

A reconciliation between GAAP operating results and non-GAAP operating results is provided following the financial statements included in this release. KLA will discuss the results for its fiscal year 2026 fourth quarter and full year, along with its outlook, on a conference call today beginning at 2:00 p.m. Pacific Time. A webcast of the call will be available at: ir.kla.com.

First Quarter Fiscal 2027 Guidance

The following details our guidance for the first quarter of fiscal 2027 ending in September:

•Total revenues are expected to be in a range of $4.0 billion +/- $200 million

•GAAP gross margin is expected to be in a range of 61.6% +/- 1.0%

•Non-GAAP gross margin is expected to be in a range of 62.5% +/- 1.0%

•GAAP diluted EPS is expected to be in a range of $1.14 +/- $0.10

•Non-GAAP diluted EPS is expected to be in a range of $1.16 +/- $0.10

For additional details and assumptions underlying our guidance metrics, please see the company’s published Letter to Shareholders, Earnings Slide Presentation and Earnings Infographic on the KLA investor relations website (ir.kla.com). Such Letter to Shareholders, Earnings Slide Presentation and Earnings Infographic are not incorporated by reference into this earnings release.

About KLA:

KLA Corporation (“KLA”) develops industry-leading equipment and services that enable innovation throughout the electronics industry. We provide advanced process control and process-enabling solutions for manufacturing wafers and reticles, integrated circuits, packaging and printed circuit boards. In close collaboration with leading customers across the globe, our expert teams of physicists, engineers, data scientists and problem-solvers design solutions that move the world forward. Investors and others should note that KLA announces material financial information including SEC filings, press releases, public earnings calls and conference webcasts using an investor relations website (ir.kla.com). Additional information may be found at: www.kla.com.

Note Regarding Forward-Looking Statements:

Statements in this press release other than historical facts, such as statements pertaining to the amount and timing of dividends, the amount and timing of share repurchases, total revenues, GAAP and non-GAAP gross margin and GAAP and non-GAAP diluted EPS for the quarter ending September 30, 2026, are forward-looking statements and are subject to the Safe Harbor provisions created by the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on current information and expectations and involve a number of risks and uncertainties. Actual results may differ materially from those projected in such statements due to various factors, including, but not limited to: our vulnerability to a weakening in the condition of the financial markets and the global economy; risks related to our international operations; evolving Bureau of Industry and Security of the U.S. Department of Commerce rules and regulations and their impact on our ability to sell products to and provide services to certain customers in China; tariffs, retaliatory trade measures and other trade restrictions, as well as uncertainty regarding tariff authority, implementation and refund process; costly intellectual property disputes that could result in our inability to sell or use the challenged technology; risks related to the legal, regulatory and tax environments in which we conduct our business; differing stakeholder expectations, requirements and attention to environment, social and governance (“ESG”) matters and the resulting costs, risks and impact on our business; unexpected delays, difficulties and expenses in executing against our environmental, climate, or other ESG targets, goals and commitments, or meeting stakeholder expectations; our ability to attract, retain and motivate key personnel; our vulnerability to disruptions and delays at our third-party service providers; cybersecurity threats, cyber incidents affecting our and our business partners’ systems and networks; our reliance on critical information, including our enterprise resource planning system for daily operations; risks related to acquisitions, integrations, strategic alliances or collaborative arrangements; climate change, natural disasters, public health crises, terrorism, acts of war and other catastrophic events and the adverse impact on our business operations; the war between Ukraine and Russia, the armed conflict in Iran and elsewhere in the Middle East, and the significant military activity in those regions; lack of insurance for losses and interruptions caused by terrorists and acts of war, and our self-insurance of certain risks including earthquake risk; risks related to fluctuations in foreign currency exchange rates; risks related to fluctuations in interest rates and the market values of our portfolio investments; risks associated with our interest rate hedging activities; risks related to tax and regulatory compliance audits; any change in taxation rules or practices and our effective tax rate; compliance costs with federal securities laws, rules, regulations, NASDAQ requirements, and evolving accounting standards and practices; ongoing changes in the technology industry, including artificial intelligence (“AI”) related developments and changes in semiconductor manufacturing processes, customer investment patterns and end-market demand; our vulnerability to a highly concentrated customer base; the cyclicality of the industries in which we operate; our ability to timely develop new technologies and products that successfully address changes in the industry; risks related to the development, adoption, governance and use of AI by us, our competitors and third parties; our ability to maintain our technology advantage and protect proprietary rights; our ability to compete in the industry; the availability and cost of components, materials or subassemblies used in the production of our products, including due to limited-source suppliers, the availability of rare earth elements or DRAM chip shortages; our ability to operate our business in accordance with our business plan; risks related to our debt and leveraged capital structure; we may not be able to declare cash dividends at all or in any particular amount; liability to our customers under indemnification provisions if our products fail to operate properly or contain defects or our customers are sued by third parties due to our products; risks associated with our receipt of government funding; we may incur significant restructuring charges or other asset impairment charges or inventory write offs; we are subject to risks related to receivables factoring, banking arrangements and compliance risk of certain settlement agreements with the government; and risks related to the Court of Chancery of the State of Delaware being the sole and exclusive forum for certain actions and proceedings. For other factors that may cause actual results to differ materially from those projected and anticipated in forward-looking statements in this press release, please refer to KLA’s Annual Report on Form 10-K for the year ended June 30, 2025, and other subsequent filings with the Securities and Exchange Commission (including, but not limited to, the risk factors described therein). KLA assumes no obligation to, and does not currently intend to, update these forward-looking statements.

KLA Corporation

Condensed Consolidated Unaudited Balance Sheets

(In thousands)

June 30, 2026 June 30, 2025

ASSETS

Current assets:

Cash and cash equivalents $ 1,649,842 $ 2,078,908

Marketable securities 3,252,566 2,415,715

Accounts receivable, net 2,889,208 2,263,915

Inventories 3,648,538 3,212,149

Other current assets 941,636 728,102

Total current assets 12,381,790 10,698,789

Land, property and equipment, net 1,380,550 1,252,775

Goodwill, net 1,788,758 1,792,193

Deferred income taxes 1,037,224 1,105,770

Purchased intangible assets, net 255,835 444,785

Other non-current assets 1,107,378 773,614

Total assets $ 17,951,535 $ 16,067,926

LIABILITIES AND STOCKHOLDERS’ EQUITY

Current liabilities:

Accounts payable $ 623,668 $ 458,509

Deferred system revenue 932,901 816,834

Deferred service revenue 604,127 548,011

Other current liabilities 2,144,231 2,262,441

Total current liabilities 4,304,927 4,085,795

Long-term debt 5,887,415 5,884,257

Deferred tax liabilities 473,648 446,945

Deferred service revenue 238,111 348,844

Other non-current liabilities 697,614 609,632

Total liabilities 11,601,715 11,375,473

Stockholders’ equity:

Common stock and capital in excess of par value 2,700,409 2,511,922

Retained earnings 3,683,864 2,179,330

Accumulated other comprehensive income (loss) (34,453) 1,201

Total stockholders’ equity 6,349,820 4,692,453

Total liabilities and stockholders’ equity $ 17,951,535 $ 16,067,926

KLA Corporation

Condensed Consolidated Unaudited Statements of Operations

Three Months Ended June 30, Twelve Months Ended June 30,

(In thousands, except per share amounts)

2026 2025 2026 2025

Revenues:

Product $ 2,837,151 $ 2,472,182 $ 10,453,537 $ 9,472,854

Service 820,405 702,559 3,125,939 2,683,308

Total revenues 3,657,556 3,174,741 13,579,476 12,156,162

Costs and expenses:

Costs of revenues 1,413,108 1,207,286 5,255,060 4,751,867

Research and development 399,023 352,989 1,532,118 1,360,334

Selling, general and administrative 291,477 262,706 1,131,518 1,029,734

Impairment of goodwill and purchased intangible assets — — — 239,100

Interest expense 73,274 73,125 284,440 302,166

Other expense (income), net (68,711) (50,164) (229,585) (171,487)

Income before income taxes 1,549,385 1,328,799 5,605,925 4,644,448

Provision for income taxes 186,326 125,950 775,154 582,805

Net income $ 1,363,059 $ 1,202,849 $ 4,830,771 $ 4,061,643

Net income per share:

Basic $ 1.04 $ 0.91 $ 3.68 $ 3.05

Diluted $ 1.04 $ 0.91 $ 3.66 $ 3.04

Weighted-average number of shares:

Basic 1,306,517 1,320,323 1,311,516 1,330,299

Diluted 1,314,986 1,327,341 1,319,633 1,337,502

KLA Corporation

Condensed Consolidated Unaudited Statements of Cash Flows

Three Months Ended June 30,

(In thousands) 2026 2025

Cash flows from operating activities:

Net income $ 1,363,059 $ 1,202,849

Adjustments to reconcile net income to net cash provided by operating activities:

Depreciation and amortization 98,606 96,252

Unrealized foreign exchange (gain) loss and other 6,343 (8,648)

Stock-based compensation expense 82,104 71,269

Deferred income taxes 105,049 (60,482)

Changes in assets and liabilities:

Accounts receivable (586,459) (67,608)

Inventories (212,304) (48,519)

Other assets (423,291) (86,564)

Accounts payable 107,788 (8,601)

Deferred system revenue 312,062 (51,515)

Deferred service revenue 14,172 35,850

Other liabilities 39,301 90,708

Net cash provided by operating activities 906,430 1,164,991

Cash flows from investing activities:

Capital expenditures (89,288) (100,408)

Proceeds from capital-related government assistance — 5,948

Purchases of available-for-sale securities (860,407) (748,014)

Proceeds from maturity and sale of available-for-sale securities 780,717 522,875

Purchases of trading securities (35,233) (30,013)

Proceeds from sale of trading securities 31,094 26,367

Other, net — (2,100)

Net cash used in investing activities (173,117) (325,345)

Cash flows from financing activities:

Common stock repurchases (570,997) (425,697)

Payment of dividends to stockholders (305,334) (253,965)

Issuance of common stock 113,030 103,976

Tax withholding payments related to vested and released restricted stock units (113,775) (54,127)

Net cash used in financing activities (877,076) (629,813)

Effect of exchange rate changes on cash and cash equivalents 6,595 11,053

Net increase (decrease) in cash and cash equivalents (137,168) 220,886

Cash and cash equivalents at beginning of period 1,787,010 1,858,022

Cash and cash equivalents at end of period $ 1,649,842 $ 2,078,908

Supplemental cash flow disclosures:

Income taxes paid, net $ 198,963 $ 231,115

Interest paid, net of capitalized interest $ 11,919 $ 7,772

Non-cash activities:

Dividends payable - financing activities $ 2,212 $ 2,300

Unsettled common stock repurchase - financing activities $ 5,494 $ 5,500

Accrued purchase of land, property and equipment - investing activities $ 21,531 $ 25,740

KLA Corporation

Segment Information (Unaudited)

The following is a summary of results for each of our three reportable segments and reconciliations to total revenues for the indicated periods:

Three Months Ended June 30, Twelve Months Ended June 30,

(In thousands)

2026 2025 2026 2025

Revenues:

Semiconductor Process Control $ 3,256,781 $ 2,877,647 $ 12,244,733 $ 10,947,359

Specialty Semiconductor Process 159,704 141,866 584,064 587,107

PCB and Component Inspection 241,110 154,106 750,415 621,721

Total revenues for reportable segments 3,657,595 3,173,619 13,579,212 12,156,187

Effects of changes in foreign currency exchange rates (39) 1,122 264 (25)

Total revenues $ 3,657,556 $ 3,174,741 $ 13,579,476 $ 12,156,162

KLA Corporation

Condensed Consolidated Unaudited Supplemental Information

Reconciliation of GAAP Net Income to Non-GAAP Net Income

Three Months Ended Twelve Months Ended

(In thousands, except per share amounts)

June 30, 2026 March 31, 2026 June 30, 2025 June 30, 2026 June 30, 2025

GAAP net income $ 1,363,059 $ 1,200,990 $ 1,202,849 $ 4,830,771 $ 4,061,643

Adjustments to reconcile GAAP net income to non-GAAP net income:

Acquisition-related charges a 33,069 46,978 50,677 178,075 219,690

Restructuring, severance and other charges b — — 2,133 — 7,128

Impairment of goodwill and purchased intangible assets c — — — — 239,100

Income tax effect of non-GAAP adjustments d (17,159) (17,668) (18,559) (71,278) (79,511)

Discrete tax items e 6,780 8,328 7,322 21,796 3,630

Non-GAAP net income $ 1,385,749 $ 1,238,628 $ 1,244,422 $ 4,959,364 $ 4,451,680

GAAP net income per diluted share $ 1.04 $ 0.91 $ 0.91 $ 3.66 $ 3.04

Non-GAAP net income per diluted share $ 1.05 $ 0.94 $ 0.94 $ 3.76 $ 3.33

Shares used in diluted net income per share calculation 1,314,986 1,317,504 1,327,341 1,319,633 1,337,502

Pre-tax Impact of GAAP to Non-GAAP Adjustments Included in Condensed Consolidated Unaudited Statements of Operations

(In thousands)

Acquisition-Related Charges Restructuring, Severance and Other Charges Total Pre-tax GAAP to Non-GAAP Adjustments

Three Months Ended June 30, 2026

Costs of revenues $ 36,200 $ — $ 36,200

Selling, general and administrative 8,470 — 8,470

Other expense (income), net (11,601) — (11,601)

Total in three months ended June 30, 2026 $ 33,069 $ — $ 33,069

Three Months Ended March 31, 2026

Costs of revenues $ 37,106 $ — $ 37,106

Selling, general and administrative 9,872 — 9,872

Total in three months ended March 31, 2026 $ 46,978 $ — $ 46,978

Three Months Ended June 30, 2025

Costs of revenues $ 39,024 $ 1,233 $ 40,257

Research and development — (3) (3)

Selling, general and administrative 11,653 903 12,556

Total in three months ended June 30, 2025 $ 50,677 $ 2,133 $ 52,810

Reconciliation of Net Cash Provided by Operating Activities (GAAP) to Free Cash Flow

Three Months Ended June 30, Twelve Months Ended June 30,

(In thousands) 2026 2025 2026 2025

Net cash provided by operating activities $ 906,430 $ 1,164,991 $ 4,143,079 $ 4,081,903

Capital expenditures (89,288) (100,408) (375,945) (335,259)

Free cash flow $ 817,142 $ 1,064,583 $ 3,767,134 $ 3,746,644

Capital Returns Calculation

Three Months Ended June 30, Twelve Months Ended June 30,

(In thousands) 2026 2025 2026 2025

Payments of dividends to stockholders $ 305,334 $ 253,965 $ 1,057,832 $ 904,594

Common stock repurchases 570,997 425,697 2,289,769 2,149,946

Capital returns $ 876,331 $ 679,662 $ 3,347,601 $ 3,054,540

First Quarter Fiscal 2027 Guidance

Reconciliation of GAAP Diluted EPS to Non-GAAP Diluted EPS

Three Months Ending September 30, 2026

(In millions, except per share amounts)

Low High

GAAP net income per diluted share $1.04 $1.24

Acquisition-related charges a 0.03 0.03

Income tax effect of non-GAAP adjustments d (0.01) (0.01)

Non-GAAP net income per diluted share $1.06 $1.26

Shares used in net income per diluted share calculation 1,312 1,312

Reconciliation of GAAP Gross Margin to Non-GAAP Gross Margin

Three Months Ending September 30, 2026

Low High

GAAP gross margin 60.6% 62.6%

Acquisition-related charges a 0.9% 0.9%

Non-GAAP gross margin 61.5% 63.5%

The non-GAAP and supplemental information provided in this press release is a supplement to, and not a substitute for, KLA’s financial results presented in accordance with United States GAAP.

To supplement our Condensed Consolidated Financial Statements presented in accordance with GAAP, we provide certain non-GAAP financial information, which is adjusted from results based on GAAP to exclude certain gains, costs and expenses, as well as other supplemental information. The non-GAAP and supplemental information is provided to enhance the user’s overall understanding of our operating performance and our prospects in the future. Specifically, we believe that the non-GAAP information, including non-GAAP net income, non-GAAP net income per diluted share, non-GAAP gross margin and free cash flow, provides useful measures to both management and investors regarding financial and business trends relating to our financial performance by excluding certain costs and expenses that we believe are not indicative of our core operating results to help investors compare our operating performances with our results in prior periods as well as with the performance of other companies. The non-GAAP information is among the budgeting and planning tools that management uses for future forecasting. However, because there are no standardized or generally accepted definitions for most non-GAAP financial metrics, definitions of non-GAAP financial metrics are inherently subject to significant discretion (for example, determining which costs and expenses to exclude when calculating such a metric). As a result, non-GAAP financial metrics may be defined very differently from company to company, or even from period to period within the same company, which can potentially limit the usefulness of such information to an investor. The presentation of non-GAAP and supplemental information is not meant to be considered in isolation or as a substitute for results prepared and presented in accordance with United States GAAP. The following are descriptions of the adjustments made to reconcile GAAP net income to non-GAAP net income:

a.Acquisition-related charges primarily include amortization of intangible assets and write-offs due to abandonment of in-process research and development projects. Acquisition-related charges during the three months ended June 30, 2026 also include a discrete release of $11.6 million of interest on unrecognized tax positions recorded as part of purchase price accounting arising from acquisitions. Although we exclude the effect of amortization of all acquired intangible assets from these non-GAAP financial measures, management believes that it is important for investors to understand that such intangible assets were recorded as part of purchase price accounting arising from acquisitions, and such amortization of intangible assets related to past acquisitions will recur in future periods until such intangible assets have been fully amortized. Investors should note that the use of these intangible assets contributed to our revenues earned during the periods presented and are expected to contribute to our future period revenues as well.

b.Restructuring, severance and other charges primarily include costs associated with employee severance.

c.Impairment of goodwill and purchased intangible assets in the twelve months ended June 30, 2025 included non-cash expense recognized as a result of the company’s testing for goodwill impairment and long-lived assets impairment, which resulted from the continued deterioration of the long-term forecast for our PCB business. Management believes that it is appropriate to exclude these impairment charges as they are not indicative of ongoing operating results and therefore limit comparability. Management also believes excluding this item helps investors compare our operating performance with our results in prior periods as well as with the performance of other companies.

d.Income tax effect of non-GAAP adjustments includes the income tax effects of the excluded items noted above.

e.Discrete tax items in the twelve months ended June 30, 2026 include the recognition or adjustment of a deferred tax liability for withholding taxes on future remittance of previously taxed income as a result of new tax legislation as well as an adjustment of certain deferred tax benefits for a change in tax rate due to change in tax incentives. Discrete tax items in the three and twelve months ended June 30, 2025 include the recognition of a net deferred tax liability on foreign currency gains/losses resulting from new tax legislation and a tax benefit from an internal restructuring. Discrete tax items in the twelve months ended June 30, 2025 also include a deferred tax impact relating to the amortization of certain intellectual property as a result of an internal restructuring of ownership rights to better align with how our business operates. Discrete tax items in all periods presented include a tax impact relating to the amortization of the aforementioned tax benefits or similar tax benefits recorded in other periods.

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For the EDGAR submission types of Form 8-K: the date of the report, the date of the earliest event reported; for the EDGAR submission types of Form N-1A: the filing date; for all other submission types: the end of the reporting or transition period. The format of the date is YYYY-MM-DD.

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No definition available.

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dei_DocumentPeriodEndDate

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xbrli:dateItemType

Balance Type:

Period Type:

duration

- Definition

The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.

+ References

No definition available.

+ Details

Name:

dei_DocumentType

Namespace Prefix:

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Data Type:

dei:submissionTypeItemType

Balance Type:

Period Type:

duration

- Definition

Address Line 1 such as Attn, Building Name, Street Name

+ References

No definition available.

+ Details

Name:

dei_EntityAddressAddressLine1

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

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- Definition

Name of the City or Town

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No definition available.

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Name:

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Namespace Prefix:

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Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

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- Definition

Code for the postal or zip code

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No definition available.

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Name:

dei_EntityAddressPostalZipCode

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

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- Definition

Name of the state or province.

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No definition available.

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Name:

dei_EntityAddressStateOrProvince

Namespace Prefix:

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Data Type:

dei:stateOrProvinceItemType

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Period Type:

duration

- Definition

A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

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Name:

dei_EntityCentralIndexKey

Namespace Prefix:

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Data Type:

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Balance Type:

Period Type:

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- Definition

Indicate if registrant meets the emerging growth company criteria.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

+ Details

Name:

dei_EntityEmergingGrowthCompany

Namespace Prefix:

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Data Type:

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duration

- Definition

Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.

+ References

No definition available.

+ Details

Name:

dei_EntityFileNumber

Namespace Prefix:

dei_

Data Type:

dei:fileNumberItemType

Balance Type:

Period Type:

duration

- Definition

Two-character EDGAR code representing the state or country of incorporation.

+ References

No definition available.

+ Details

Name:

dei_EntityIncorporationStateCountryCode

Namespace Prefix:

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Data Type:

dei:edgarStateCountryItemType

Balance Type:

Period Type:

duration

- Definition

The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

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Name:

dei_EntityRegistrantName

Namespace Prefix:

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xbrli:normalizedStringItemType

Balance Type:

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- Definition

The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

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Name:

dei_EntityTaxIdentificationNumber

Namespace Prefix:

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Data Type:

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Period Type:

duration

- Definition

Local phone number for entity.

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No definition available.

+ Details

Name:

dei_LocalPhoneNumber

Namespace Prefix:

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Data Type:

xbrli:normalizedStringItemType

Balance Type:

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- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 13e

-Subsection 4c

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Name:

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Namespace Prefix:

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Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

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- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 14d

-Subsection 2b

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Name:

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Namespace Prefix:

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Data Type:

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Balance Type:

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- Definition

Title of a 12(b) registered security.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b

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Name:

dei_Security12bTitle

Namespace Prefix:

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Data Type:

dei:securityTitleItemType

Balance Type:

Period Type:

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- Definition

Name of the Exchange on which a security is registered.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection d1-1

+ Details

Name:

dei_SecurityExchangeName

Namespace Prefix:

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Data Type:

dei:edgarExchangeCodeItemType

Balance Type:

Period Type:

duration

- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 14a

-Subsection 12

+ Details

Name:

dei_SolicitingMaterial

Namespace Prefix:

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Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

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- Definition

Trading symbol of an instrument as listed on an exchange.

+ References

No definition available.

+ Details

Name:

dei_TradingSymbol

Namespace Prefix:

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Data Type:

dei:tradingSymbolItemType

Balance Type:

Period Type:

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- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Securities Act

-Number 230

-Section 425

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