Segment Reporting

The following table presents the revenue, costs of revenue, operating expenses, and operating income (loss) of the Company’s reportable operating segment under its internal management reporting system, along with a reconciliation to consolidated net income (loss) before taxes. This presentation aligns with how the CODM evaluates performance and allocates resources.


	Year Ended
	June 27, 2025		June 28, 2024		June 30, 2023
	(in millions)
Revenue	$	7,355	$	6,663	$	6,086
Costs of revenue (1)	(5,127)		(5,607)		(5,637)
Operating expenses (1)	(1,539)		(1,365)		(1,425)
Stock-based compensation expenses	(182)		(149)		(165)
Amortization of acquired intangible assets	—		—		(133)
Employee termination and other	(21)		40		(69)
Goodwill impairment	(1,830)		—		(671)
Business separation costs	(67)		(64)		—
Strategic review	—		(20)		(20)
Gain on business divestiture	34		—		—
Recoveries of contamination related charges	—		36		—
Other	—		(2)		(1)
Total interest and other income (expense), net	(102)		(35)		33
Income tax expense	(162)		(169)		(141)
Net loss	$	(1,641)	$	(672)	$	(2,143)

(1) For the management view, Costs of revenue excludes stock-based compensation and Operating expenses excludes stock-based compensation, amortization of intangibles, employee termination, goodwill impairment, business separation/strategic review costs, gain on business divestiture and recoveries of contamination-related charges, that are presented separately in the table above.

About Segments Disclosures

Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.

Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.

Sandisk Corp Segments Disclosure

About Segments Disclosures

Other Available Disclosures