$ALGM
ALLEGRO MICROSYSTEMS, INC.

2024 Q1 Form 10-Q Financial Statement

#000095017024011712 Filed on February 06, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4
Revenue $240.6M $255.0M
YoY Change -10.71% 2.49%
Cost Of Revenue $117.3M $121.2M
YoY Change 0.84% 42.91%
Gross Profit $123.2M $133.8M
YoY Change -19.49% -6.15%
Gross Profit Margin 51.23% 52.48%
Selling, General & Admin $48.29M $52.75M
YoY Change 0.09% 41.13%
% of Gross Profit 39.18% 39.41%
Research & Development $45.84M $44.40M
YoY Change 9.58% 12.13%
% of Gross Profit 37.19% 33.17%
Depreciation & Amortization $21.83M $15.12M
YoY Change 54.82% 35.91%
% of Gross Profit 17.72% 11.3%
Operating Expenses $94.13M $97.14M
YoY Change 4.61% 26.21%
Operating Profit $29.12M $36.69M
YoY Change -53.86% -44.1%
Interest Expense $1.354M $3.854M
YoY Change -72.82% 528.71%
% of Operating Profit 4.65% 10.51%
Other Income/Expense, Net $1.116M $2.682M
YoY Change -780.49% -34.89%
Pretax Income $17.25M $36.37M
YoY Change -74.6% -49.55%
Income Tax $24.33M $2.969M
% Of Pretax Income 141.01% 8.16%
Net Earnings -$7.115M $33.35M
YoY Change -111.48% -48.32%
Net Earnings / Revenue -2.96% 13.08%
Basic Earnings Per Share $0.17
Diluted Earnings Per Share -$0.04 $0.17
COMMON SHARES
Basic Shares Outstanding 193.1M 192.5M
Diluted Shares Outstanding 194.6M

Balance Sheet

Concept 2024 Q1 2023 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $212.1M $214.3M
YoY Change -39.66% -35.89%
Cash & Equivalents $212.1M $214.3M
Short-Term Investments
Other Short-Term Assets $75.30M $51.41M
YoY Change 131.88% 61.39%
Inventory $162.3M $165.6M
Prepaid Expenses
Receivables $118.7M $114.3M
Other Receivables $3.750M $3.750M
Total Short-Term Assets $572.2M $549.5M
YoY Change -14.06% -11.36%
LONG-TERM ASSETS
Property, Plant & Equipment $321.2M $325.8M
YoY Change 14.72% 40.39%
Goodwill $202.4M $214.7M
YoY Change 631.01% 660.57%
Intangibles $276.9M $293.7M
YoY Change 428.57% 452.79%
Long-Term Investments $26.73M $25.97M
YoY Change -1.97% -7.13%
Other Assets $126.5M $48.94M
YoY Change 5.8% -6.49%
Total Long-Term Assets $958.4M $1.016B
YoY Change 85.98% 118.87%
TOTAL ASSETS
Total Short-Term Assets $572.2M $549.5M
Total Long-Term Assets $958.4M $1.016B
Total Assets $1.531B $1.565B
YoY Change 29.59% 44.39%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $37.59M $40.79M
YoY Change -42.99% -26.64%
Accrued Expenses $76.39M $75.44M
YoY Change -23.14% -7.58%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $3.929M $3.959M
YoY Change
Total Short-Term Liabilities $117.9M $120.2M
YoY Change -28.68% -12.42%
LONG-TERM LIABILITIES
Long-Term Debt $249.6M $250.5M
YoY Change 898.44% 901.86%
Other Long-Term Liabilities $31.37M $15.10M
YoY Change 30.62% 31.5%
Total Long-Term Liabilities $281.0M $265.6M
YoY Change 473.25% 2212.29%
TOTAL LIABILITIES
Total Short-Term Liabilities $117.9M $120.2M
Total Long-Term Liabilities $281.0M $265.6M
Total Liabilities $400.2M $429.8M
YoY Change 85.67% 126.8%
SHAREHOLDERS EQUITY
Retained Earnings $463.0M $470.1M
YoY Change 49.21% 89.31%
Common Stock $1.932M $1.931M
YoY Change 0.73% 0.89%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.130B $1.134B
YoY Change
Total Liabilities & Shareholders Equity $1.531B $1.565B
YoY Change 29.59% 44.39%

Cashflow Statement

Concept 2024 Q1 2023 Q4
OPERATING ACTIVITIES
Net Income -$7.115M $33.35M
YoY Change -111.48% -48.32%
Depreciation, Depletion And Amortization $21.83M $15.12M
YoY Change 54.82% 35.91%
Cash From Operating Activities $12.76M $72.56M
YoY Change -73.16% 34.73%
INVESTING ACTIVITIES
Capital Expenditures $14.27M $34.40M
YoY Change -52.76% 139.83%
Acquisitions
YoY Change
Other Investing Activities $0.00 -$408.1M
YoY Change -100.0%
Cash From Investing Activities -$14.27M -$442.5M
YoY Change -53.06% 2985.25%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 730.0K 213.9M
YoY Change -122.09% -10296.14%
NET CHANGE
Cash From Operating Activities 12.76M 72.56M
Cash From Investing Activities -14.27M -442.5M
Cash From Financing Activities 730.0K 213.9M
Net Change In Cash -778.0K -156.0M
YoY Change -105.62% -517.09%
FREE CASH FLOW
Cash From Operating Activities $12.76M $72.56M
Capital Expenditures $14.27M $34.40M
Free Cash Flow -$1.508M $38.16M
YoY Change -108.7% -3.42%

Facts In Submission

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ALLEGRO MICROSYSTEMS, INC.
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dei Security12b Title
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us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
158624000
us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
118966000
CY2023Q4 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
-2000
CY2022Q4 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
56000
us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
-83000
us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
-81000
CY2023Q4 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
36965000
CY2022Q4 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
72766000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
158707000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
119047000
CY2022Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
815875000
CY2022Q4 us-gaap Profit Loss
ProfitLoss
64551000
CY2022Q4 algm Stock Issued During Period Value Share Based Compensation And Restricted Stock Vested
StockIssuedDuringPeriodValueShareBasedCompensationAndRestrictedStockVested
8863000
CY2022Q4 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
3036000
CY2022Q4 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
8303000
CY2022Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
894556000
CY2023Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1098288000
CY2023Q4 us-gaap Profit Loss
ProfitLoss
33402000
CY2023Q4 algm Stock Issued During Period Value Share Based Compensation And Restricted Stock Vested
StockIssuedDuringPeriodValueShareBasedCompensationAndRestrictedStockVested
10910000
CY2023Q4 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
10732000
CY2023Q4 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
3618000
CY2023Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1135486000
CY2022Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
735363000
us-gaap Profit Loss
ProfitLoss
125482000
us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
1573000
algm Stock Issued During Period Value Share Based Compensation And Restricted Stock Vested
StockIssuedDuringPeriodValueShareBasedCompensationAndRestrictedStockVested
51194000
us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
12642000
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-6414000
CY2022Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
894556000
CY2023Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
966815000
us-gaap Profit Loss
ProfitLoss
159962000
us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
1899000
algm Stock Issued During Period Value Share Based Compensation And Restricted Stock Vested
StockIssuedDuringPeriodValueShareBasedCompensationAndRestrictedStockVested
32821000
us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
24823000
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-1188000
CY2023Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1135486000
us-gaap Profit Loss
ProfitLoss
159962000
us-gaap Profit Loss
ProfitLoss
125482000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
49548000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
36705000
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
292000
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
74000
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-28253000
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-28387000
us-gaap Share Based Compensation
ShareBasedCompensation
32839000
us-gaap Share Based Compensation
ShareBasedCompensation
51242000
us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
-18000
us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
-287000
us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
0
us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
-2700000
algm Inventory Write Down And Accounts Receivable Credit Loss Expense Reversal
InventoryWriteDownAndAccountsReceivableCreditLossExpenseReversal
9851000
algm Inventory Write Down And Accounts Receivable Credit Loss Expense Reversal
InventoryWriteDownAndAccountsReceivableCreditLossExpenseReversal
1744000
algm Marketable Securities Changes In Fair Value
MarketableSecuritiesChangesInFairValue
-3579000
algm Marketable Securities Changes In Fair Value
MarketableSecuritiesChangesInFairValue
-5000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
2564000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
5894000
us-gaap Increase Decrease In Other Receivables
IncreaseDecreaseInOtherReceivables
462000
us-gaap Increase Decrease In Other Receivables
IncreaseDecreaseInOtherReceivables
-2000000
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
19909000
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
39136000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
12623000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
17761000
us-gaap Increase Decrease In Accounts Payable Trade
IncreaseDecreaseInAccountsPayableTrade
-9604000
us-gaap Increase Decrease In Accounts Payable Trade
IncreaseDecreaseInAccountsPayableTrade
19553000
algm Increase Decrease In Due To From Related Party
IncreaseDecreaseInDueToFromRelatedParty
6817000
algm Increase Decrease In Due To From Related Party
IncreaseDecreaseInDueToFromRelatedParty
-3273000
algm Increase Decrease In Accrued Liabilities And Other Current And Long Term Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherCurrentAndLongTermLiabilities
-20540000
algm Increase Decrease In Accrued Liabilities And Other Current And Long Term Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherCurrentAndLongTermLiabilities
5717000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
168951000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
145658000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
110500000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
49563000
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
408119000
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
19728000
us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
16175000
us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
0
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-502444000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-69291000
algm Payments To Fund Loans To Related Party Financing Activities
PaymentsToFundLoansToRelatedPartyFinancingActivities
0
algm Payments To Fund Loans To Related Party Financing Activities
PaymentsToFundLoansToRelatedPartyFinancingActivities
7500000
us-gaap Proceeds From Issuance Of Secured Debt
ProceedsFromIssuanceOfSecuredDebt
245452000
us-gaap Proceeds From Issuance Of Secured Debt
ProceedsFromIssuanceOfSecuredDebt
0
us-gaap Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
25000000
us-gaap Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
0
algm Repayment Of Other Debt
RepaymentOfOtherDebt
743000
algm Repayment Of Other Debt
RepaymentOfOtherDebt
0
us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
2813000
us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
1875000
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
24823000
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
12642000
us-gaap Proceeds From Stock Plans
ProceedsFromStockPlans
1899000
us-gaap Proceeds From Stock Plans
ProceedsFromStockPlans
1573000
us-gaap Repayments Of Unsecured Debt
RepaymentsOfUnsecuredDebt
1450000
us-gaap Repayments Of Unsecured Debt
RepaymentsOfUnsecuredDebt
0
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
198148000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-16694000
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
375000
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-5344000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-134970000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
54329000
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
358705000
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
289799000
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
223735000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
344128000
us-gaap Use Of Estimates
UseOfEstimates
<p style="font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Use of Estimates</span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">The preparation of unaudited condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, and disclosures of contingencies at the date of the unaudited condensed consolidated financial statements and the reported amounts of net sales and expenses during the reporting period. Such estimates relate to useful lives of fixed and intangible assets, provisions for expected credit losses and customer returns and sales allowances. Such estimates also relate to accrued liabilities, the valuation of stock-based awards, deferred tax valuation allowances, the net realizable value of inventory, and other reserves. On an ongoing basis, management evaluates its estimates. Actual results could differ from those estimates, and such differences may be material to the unaudited condensed consolidated financial statements.</span></p>
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<p style="font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Reclassifications</span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Certain reclassifications have been made to prior-period amounts to conform to current-period reporting classifications.</span></p>
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Concentrations of Credit Risk</span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">As of December 29, 2023, two customers accounted for </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">24.3</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">%</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> of the Company’s outstanding trade accounts receivable, net. No other customers accounted for 10% or more of outstanding trade accounts receivable, net as of such dates. As of March 31, 2023, Sanken Electric Co., Ltd. (“Sanken”) and another customer accounted for </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">10.6</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">%</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> and </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">17.3</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">%</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">, respectively, of the Company’s outstanding trade accounts receivable, net, including related party trade accounts receivable.</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">For the nine-month period ended December 29, 2023, one customer accounted for </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">11.0</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">%</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> of total net sales. For the three- and nine-month periods ended December 23, 2022, Sanken accounted for </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">18.1</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">%</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> and </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">18.7</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">%</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> of total net sales, respectively. No other customers accounted for 10% or more of total net sales for either of the three- or nine-month periods ended December 23, 2022 or for the three-month period ended December 29, 2023.</span></p>
CY2022Q1 algm Accounts Receivable Allowance For Credit Loss Returns And Sales Current
AccountsReceivableAllowanceForCreditLossReturnsAndSalesCurrent
14924000
CY2023Q4 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
254984000
CY2022Q4 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
248789000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
808786000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
704208000
CY2023Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
278293000
CY2023Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
275509000
CY2022Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
217753000
CY2022Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
237666000
CY2022Q4 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
248789000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
269445000
CY2021Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
188142000
CY2021Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
193610000
CY2021Q4 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
186629000
CY2022Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
200293000
CY2023Q4 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
254984000
CY2022Q4 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
248789000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
808786000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
704208000
CY2023Q4 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
254984000
CY2022Q4 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
248789000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
808786000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
704208000
CY2023Q4 algm Accounts Receivable Returns Credits Issued And Price Protection Adjustments Current
AccountsReceivableReturnsCreditsIssuedAndPriceProtectionAdjustmentsCurrent
35342000
CY2023Q1 algm Accounts Receivable Returns Credits Issued And Price Protection Adjustments Current
AccountsReceivableReturnsCreditsIssuedAndPriceProtectionAdjustmentsCurrent
30571000
CY2023Q4 algm Accounts Receivable Before Allowance For Credit Loss And Due From Related Parties Current
AccountsReceivableBeforeAllowanceForCreditLossAndDueFromRelatedPartiesCurrent
149666000
CY2023Q1 algm Accounts Receivable Before Allowance For Credit Loss And Due From Related Parties Current
AccountsReceivableBeforeAllowanceForCreditLossAndDueFromRelatedPartiesCurrent
150914000
CY2023Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
90000
CY2023Q1 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
102000
CY2023Q4 algm Accounts Receivable Allowance For Returns And Sales Current
AccountsReceivableAllowanceForReturnsAndSalesCurrent
35252000
CY2023Q1 algm Accounts Receivable Allowance For Returns And Sales Current
AccountsReceivableAllowanceForReturnsAndSalesCurrent
26269000
CY2023Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
114324000
CY2023Q1 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
111290000
CY2023Q1 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
102000
CY2023Q1 algm Accounts Receivable Allowance For Returns And Sales Current
AccountsReceivableAllowanceForReturnsAndSalesCurrent
26269000
CY2023Q1 algm Accounts Receivable Allowance For Credit Loss Returns And Sales Current
AccountsReceivableAllowanceForCreditLossReturnsAndSalesCurrent
26371000
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
-14000
algm Accounts Receivable Returns And Sales Allowances Expense Reversal
AccountsReceivableReturnsAndSalesAllowancesExpenseReversal
140402000
algm Accounts Receivable Credit Loss And Returns And Sales Allowances Expense Reversal
AccountsReceivableCreditLossAndReturnsAndSalesAllowancesExpenseReversal
140388000
us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
2000
algm Accounts Receivable Allowance For Returns And Sales Writeoff
AccountsReceivableAllowanceForReturnsAndSalesWriteoff
131419000
algm Accounts Receivable Allowance For Credit Loss And Returns And Sales Writeoff
AccountsReceivableAllowanceForCreditLossAndReturnsAndSalesWriteoff
131417000
CY2023Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
90000
CY2023Q4 algm Accounts Receivable Allowance For Returns And Sales Current
AccountsReceivableAllowanceForReturnsAndSalesCurrent
35252000
CY2023Q4 algm Accounts Receivable Allowance For Credit Loss Returns And Sales Current
AccountsReceivableAllowanceForCreditLossReturnsAndSalesCurrent
35342000
CY2022Q1 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
105000
CY2022Q1 algm Accounts Receivable Allowance For Returns And Sales Current
AccountsReceivableAllowanceForReturnsAndSalesCurrent
14819000
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
42000
algm Accounts Receivable Returns And Sales Allowances Expense Reversal
AccountsReceivableReturnsAndSalesAllowancesExpenseReversal
78737000
algm Accounts Receivable Credit Loss And Returns And Sales Allowances Expense Reversal
AccountsReceivableCreditLossAndReturnsAndSalesAllowancesExpenseReversal
78779000
us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
0
algm Accounts Receivable Allowance For Returns And Sales Writeoff
AccountsReceivableAllowanceForReturnsAndSalesWriteoff
74807000
algm Accounts Receivable Allowance For Credit Loss And Returns And Sales Writeoff
AccountsReceivableAllowanceForCreditLossAndReturnsAndSalesWriteoff
74807000
CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
147000
CY2022Q4 algm Accounts Receivable Allowance For Returns And Sales Current
AccountsReceivableAllowanceForReturnsAndSalesCurrent
18749000
CY2022Q4 algm Accounts Receivable Allowance For Credit Loss Returns And Sales Current
AccountsReceivableAllowanceForCreditLossReturnsAndSalesCurrent
18896000
CY2023Q4 us-gaap Inventory Raw Materials And Supplies Net Of Reserves
InventoryRawMaterialsAndSuppliesNetOfReserves
13966000
CY2023Q1 us-gaap Inventory Raw Materials And Supplies Net Of Reserves
InventoryRawMaterialsAndSuppliesNetOfReserves
15049000
CY2023Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
107042000
CY2023Q1 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
98836000
CY2023Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
44545000
CY2023Q1 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
37416000
CY2023Q4 us-gaap Inventory Net
InventoryNet
165553000
CY2023Q1 us-gaap Inventory Net
InventoryNet
151301000
CY2023Q4 us-gaap Inventory Write Down
InventoryWriteDown
429000
us-gaap Inventory Write Down
InventoryWriteDown
9865000
CY2022Q4 us-gaap Inventory Write Down
InventoryWriteDown
654000
us-gaap Inventory Write Down
InventoryWriteDown
5716000
CY2023Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
830423000
CY2023Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
742840000
CY2023Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
504601000
CY2023Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
479741000
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
325822000
CY2023Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
263099000
CY2023Q4 us-gaap Depreciation
Depreciation
15124000
us-gaap Depreciation
Depreciation
41472000
CY2022Q4 us-gaap Depreciation
Depreciation
11128000
us-gaap Depreciation
Depreciation
32958000
CY2023Q1 us-gaap Goodwill
Goodwill
27691000
us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
186545000
us-gaap Goodwill Purchase Accounting Adjustments
GoodwillPurchaseAccountingAdjustments
280000
us-gaap Goodwill Foreign Currency Translation Gain Loss
GoodwillForeignCurrencyTranslationGainLoss
-193000
CY2023Q4 us-gaap Goodwill
Goodwill
214709000
CY2023Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
326446000
CY2023Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
32747000
CY2023Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
293699000
CY2023Q1 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
76985000
CY2023Q1 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
24607000
CY2023Q1 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
52378000
CY2023Q4 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
5071000
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
8076000
CY2022Q4 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
1420000
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
3650000
CY2023Q4 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
33402000
CY2023Q4 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
33402000
CY2022Q4 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
64551000
CY2022Q4 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
64551000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
159962000
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
159962000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
125482000
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
125482000
CY2023Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
192724541
CY2022Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
191328538
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
192384315
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
191082141
CY2023Q4 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
1845839
CY2022Q4 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
2607370
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
2540725
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
2018621
CY2023Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
194570380
CY2022Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
193935908
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
194925040
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
193100762
CY2023Q4 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
0.17
CY2022Q4 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
0.34
us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
0.83
us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
0.66
CY2023Q4 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.17
CY2022Q4 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.33
us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.82
us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.65
CY2023Q4 algm Weighted Average Number Issuable Shares Outstanding Adjustment
WeightedAverageNumberIssuableSharesOutstandingAdjustment
1845839
CY2022Q4 algm Weighted Average Number Issuable Shares Outstanding Adjustment
WeightedAverageNumberIssuableSharesOutstandingAdjustment
2607370
algm Weighted Average Number Issuable Shares Outstanding Adjustment
WeightedAverageNumberIssuableSharesOutstandingAdjustment
2540725
algm Weighted Average Number Issuable Shares Outstanding Adjustment
WeightedAverageNumberIssuableSharesOutstandingAdjustment
2018621
CY2023Q4 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
10920000
CY2022Q4 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
8902000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
32839000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
51242000
CY2023Q4 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
2969000
CY2022Q4 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
7540000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
17584000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
17943000
CY2023Q4 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.082
CY2022Q4 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.105
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.099
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.125
us-gaap Debt Instrument Periodic Payment
DebtInstrumentPeriodicPayment
2998000
us-gaap Interest Income Other
InterestIncomeOther
185000
ecd Trd Arr Ind Name
TrdArrIndName
Mr. Max Glover
ecd Trd Arr Ind Title
TrdArrIndTitle
Senior Vice President
ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
true
ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
true
ecd Trd Arr Termination Date
TrdArrTerminationDate
December 31, 2024
ecd Trd Arr Duration
TrdArrDuration
P389D
CY2023Q4 ecd Trd Arr Securities Agg Avail Amt
TrdArrSecuritiesAggAvailAmt
97000

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