Financial Analysis

10. Commitments and Contingencies Legal proceedings The Company is subject to various legal proceedings, claims, and regulatory examinations or investigations arising in the normal course of business, the outcomes of which are subject to significant uncertainty, and the Companys ultimate liability, if any, is difficult to predict. The Company records an accrual for legal contingencies when it is determined that it is probable that a liability has been incurred and the amount of the loss can be reasonably estimated. In making such determinations, the Company evaluates, among other things, the degree of probability of an unfavorable outcome and when it is probable that a liability has been incurred, the ability to make a reasonable estimate of the loss. If the occurrence of liability is probable and estimable, the Company will disclose the nature of the contingency and the likely amount of such loss or range of loss. The Company is not aware of any pending or threatened legal proceeding against the Company that it believes could have a material adverse effect on the Companys business, operating results, cash flows or financial position. …

CommitmentsAndContingenciesDisclosureTextBlock · excerpt; the full note is in the filing

9. Debt and Other Borrowings The Companys debt obligations consisted of the following: June 26, 2026 March 27, 2026 Term Loan Facility $ 285,000 $ 285,000 Unamortized debt issuance costs ( 3,891 ) ( 4,116 ) Total loans outstanding 281,109 280,884 Finance lease liabilities 6,050 6,392 Total debt 287,159 287,276 Current portion of long-term debt and finance lease liabilities ( 1,499 ) ( 1,530 ) Total long-term debt and finance lease liabilities, less current portion $ 285,660 $ 285,746 Revolving Credit Facility under the 2023 Revolving Credit Agreement On June 21, 2023, the Company entered into a Credit Agreement dated as of June 21, 2023 (as amended, restated, supplemented or otherwise modified, refinanced or replaced from time to time, the 2023 Revolving Credit Agreement) by and among the Company, Allegro MicroSystems, LLC (AML), Morgan Stanley Senior Funding, Inc., as administrative agent and collateral agent, and the other parties thereto that provided for a $ 224,000 revolving credit facility, which included a $ 20,000 letter of credit sub-facility. On August 6, 2024, upon entry into Amendment No. 2 (the Second Amendment) to the 2023 Revolving Credit Agreement, the total capacity of the revolving credit facility was increased to $ 256,000 , and the Second Amendment also provided for a new $ 400,000 tranche of term loans maturing in 2030 (the 2024 Term Loans), which were paid in full in connection with entry into the Third Amendment (as defined below). The revolving credit …

DebtDisclosureTextBlock · excerpt; the full note is in the filing

Three-Month Period Ended June 26, 2026 June 27, 2025 Automotive $ 165,349 $ 144,264 Industrial and Other 93,894 59,141 Total net sales $ 259,243 $ 203,405

DisaggregationOfRevenueTableTextBlock

12. Common Stock and Stock-Based Compensation Restricted Stock Units The following table summarizes the Companys RSU activity for the three-month period ended June 26, 2026: Shares Weighted-Average Grant Date Fair Value Outstanding at March 27, 2026 3,092,443 $ 27.83 Granted 878,570 45.99 Issued ( 1,239,924 ) 28.46 Forfeited ( 36,499 ) 29.67 Outstanding at June 26, 2026 2,694,590 $ 33.43 As of June 26, 2026, total unrecognized compensation expense for RSUs issued was $ 81,367 , which is expected to be recognized over a weighted-average period of 2.28 years. The total grant date fair value of RSUs vested was $ 35,294 for the three-month period ended June 26, 2026. Performance Stock Units The following table summarizes the Companys PSU activity for the three-month period ended June 26, 2026: Shares Weighted-Average Grant Date Fair Value Outstanding at March 27, 2026 1,335,649 $ 27.90 Granted 280,895 45.97 Cancelled ( 5,849 ) 29.88 Issued ( 137,131 ) 29.51 Forfeited ( 2,431 ) 29.95 Outstanding at June 26, 2026 1,471,133 $ 30.62 PSUs are included at 0 % - 200 % of target goals. The total unrecognized compensation expense related to unvested PSUs was $ 23,455 , which is expected to be recognized over a weighted-average period of 2.42 years. The total grant date fair value of PSUs vested was $ 4,047 for the three-month period ended June 26, 2026. The Company recorded pre-tax stock-based compensation expense in the following expense categories of its condensed consolidated statement …

DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock · excerpt; the full note is in the filing

4. Fair Value Measurements The following tables present information about the Companys financial assets and liabilities as of June 26, 2026 and March 27, 2026, measured at fair value on a recurring basis: Fair Value Measurement at June 26, 2026: Level 1 Level 2 Level 3 Total Fair Value Assets: Cash equivalents: Money market fund deposits $ 52,594 $ $ $ 52,594 Time deposits 244 244 Restricted cash: Money market fund deposits 8,444 8,444 Other long-term assets: Investment in debt security 3,407 3,407 Total assets $ 61,038 $ 244 $ 3,407 $ 64,689 Fair Value Measurement at March 27, 2026: Level 1 Level 2 Level 3 Total Fair Value Assets: Cash equivalents: Money market fund deposits $ 42,173 $ $ $ 42,173 Restricted cash: Money market fund deposits 6,604 6,604 Other long-term assets: Investment in debt security 3,477 3,477 Total assets $ 48,777 $ $ 3,477 $ 52,254 Financial assets measured at fair value on a recurring basis also consist of government securities, unit investment trust funds, loans, bonds, stock and other investments, which constitute the Companys defined benefit plan assets. Fair value information for those assets, including their classification in the fair value hierarchy, is included in Note 15, Retirement Plans within the Companys 2026 Annual Report. The changes in the Companys defined benefit plan assets were not material for the three-month period ended June 26, 2026. During the three-month periods ended June 26, 2026 and June 27, 2025, there were no transfers of …

FairValueDisclosuresTextBlock · excerpt; the full note is in the filing

8. Goodwill and Intangible Assets The table below summarizes the changes in the carrying amount of goodwill as follows: Total Balance at March 27, 2026 $ 203,291 Foreign currency translation ( 234 ) Balance at June 26, 2026 $ 203,057 Intangible assets, net, were as follows: June 26, 2026 Description Gross Accumulated Amortization Net Carrying Amount Patents $ 53,813 $ ( 30,886 ) $ 22,927 Customer relationships 15,123 ( 5,261 ) 9,862 Completed technologies 255,618 ( 57,821 ) 197,797 Indefinite-lived process technology and trademarks 2,269 2,269 Trademarks and other 91 ( 91 ) Total $ 326,914 $ ( 94,059 ) $ 232,855 March 27, 2026 Description Gross Accumulated Amortization Net Carrying Amount Patents $ 53,126 $ ( 30,009 ) $ 23,117 Customer relationships 15,187 ( 5,125 ) 10,062 Completed technologies 255,618 ( 52,391 ) 203,227 Indefinite-lived process technology and trademarks 2,269 2,269 Trademarks and other 93 ( 93 ) Total $ 326,293 $ ( 87,618 ) $ 238,675 Intangible assets amortization expense was $ 6,511 and $ 6,698 for the three-month periods ended June 26, 2026 and June 27, 2025, respectively. …

GoodwillAndIntangibleAssetsDisclosureTextBlock · excerpt; the full note is in the filing

13. Income Taxes The Company recorded the following income tax provision in its condensed consolidated statements of operations: Three-Month Period Ended June 26, 2026 June 27, 2025 Income tax provision $ 1,506 $ 3,169 Effective tax rate 8.6 % ( 31.7 )% The Companys income tax provision is comprised of the year-to-date taxes based on an estimate of the annual effective tax rate plus the tax impact of discrete items. The Company is subject to tax in the U.S. and various foreign jurisdictions. The Companys effective income tax rate fluctuates primarily because of the change in the mix of its U.S. and foreign income, the impact of discrete transactions and law changes, tax benefits generated by foreign-derived deduction-eligible income and the foreign derived intangible income deduction (collectively referred to as FDDEI), including the permanent impacts of capitalized domestic and foreign research expenses, and research credits, offset by non-deductible stock-based compensation and other charges. In 2017, the Tax Cuts and Jobs Act (TCJA) introduced significant U.S. corporate tax reform to the U.S. Internal Revenue Code (the Code), including a requirement to capitalize domestic and foreign research and development expenditures incurred in fiscal years 2023 through 2025. The capitalized amounts were required to be amortized over five and 15 years, respectively. On July 4, 2025, the One Big Beautiful Bill Act (OBBB) was enacted into law, and in general, it extended and modified ma …

IncomeTaxDisclosureTextBlock · excerpt; the full note is in the filing

Recent Accounting Pronouncements In July 2025, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2025-05 Financial InstrumentsCredit Losses (Topic 326): Measurement of Credit Losses for Accounts Receivable and Contract Assets (ASU 2025-05). ASU 2025-05 provides a practical expedient that can be elected to be applied to accounts receivable and contract assets, which would allow entities to assume that current conditions as of the balance sheet date do not change for the remaining life of the assets when estimating expected credit losses for such assets. The Company adopted ASU 2025-05 on a prospective basis effective March 28, 2026, and the adoption did not have a material impact on the Companys consolidated financial statements. In connection with this adoption, the Company elected to apply the practical expedient permitted by the standard, which assumes that current conditions as of the balance sheet date do not change for the remaining life of its applicable financial assets. In November 2024, the FASB issued ASU No. 2024-03, Income StatementReporting Comprehensive IncomeExpense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses (ASU 2024-03). ASU 2024-03 requires additional disclosures of the nature of expenses included in the Companys income statement. The new standard requires disclosures about specific types of expenses included in the expense captions presented on the face of the income s …

NewAccountingPronouncementsPolicyPolicyTextBlock · excerpt; the full note is in the filing

14. Related Party Transactions Transactions involving Sanken Electric Co., Ltd. (Sanken) As of June 26, 2026, Sanken held approximately 32.1 % of the Companys outstanding shares of common stock. Sanken Distribution Agreement On March 30, 2023, the Company entered into a termination of the distribution agreement with Sanken (the Termination Agreement). The Termination Agreement formally terminated the distribution agreement dated as of July 5, 2007, by and between the Company and Sanken (the Distribution Agreement), effective March 31, 2023. In connection with the termination of the Distribution Agreement, and, as provided for in the Termination Agreement, the Company made a one-time payment of $ 5,000 to Sanken in exchange for the cancellation of Sankens exclusive distribution rights in Japan. Concurrent with the Termination Agreement, AML and Sanken also entered into a short-term, non-exclusive distribution agreement (as amended, the Short-Term Distribution Agreement) and a consulting agreement (the Consulting Agreement), each of which was effective April 1, 2023. In addition, the Company allowed a one-time sales return from Sanken of resalable inventory of $ 4,200 . The Short-Term Distribution Agreement provided for the management and sale of Company product inventory for a period of 24 months from April 1, 2023. Under the terms of the Consulting Agreement, Sanken agreed to continue to provide transition services for a period of six months from April 1, 2023 to a strategic …

RelatedPartyTransactionsDisclosureTextBlock · excerpt; the full note is in the filing

3. Revenue from Contracts with Customers The following tables summarize net sales disaggregated by market, by product and by geography for the three-month periods ended June 26, 2026 and June 27, 2025. The categorization of net sales by market is determined using various characteristics of the product and the application into which the Companys product will be incorporated. The categorization of net sales by geography is determined based on the location to which the products are shipped. Net sales by market: Three-Month Period Ended June 26, 2026 June 27, 2025 Automotive $ 165,349 $ 144,264 Industrial and Other 93,894 59,141 Total net sales $ 259,243 $ 203,405 Net sales by product: Three-Month Period Ended June 26, 2026 June 27, 2025 Magnetic sensors $ 149,779 $ 129,166 Power integrated circuits 109,464 74,239 Total net sales $ 259,243 $ 203,405 Net sales by geography: Three-Month Period Ended June 26, 2026 June 27, 2025 Americas: United States $ 25,247 $ 23,774 Other Americas 8,518 8,848 EMEA: Europe 33,369 30,473 Asia: Greater China 65,343 57,569 Japan 44,078 33,653 Taiwan 42,887 13,430 South Korea 21,143 19,603 Other Asia 18,658 16,055 Total net sales $ 259,243 $ 203,405 The Company recognizes sales net of returns and sales allowances, which include credits issued, price protection adjustments and stock rotation rights. At June 26, 2026 and March 27, 2026, the obligation associated with returns and sales allowances was $ 60,756 and $ 48,616 , respectively, and was netted a …

RevenueFromContractWithCustomerTextBlock · excerpt; the full note is in the filing

2. Summary of Significant Accounting Policies Use of Estimates The preparation of consolidated financial statements in conformity with 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 consolidated financial statements and the reported amounts of net sales and expenses during the reporting period. On an ongoing basis, management evaluates its estimates, assumptions and judgments, including those related to the valuation of acquired intangible assets, impairment assessment and valuation of goodwill, intangible assets and tangible long-lived assets, the net realizable value of inventory, income taxes, stock-based compensation, and sales allowances. Actual results could differ from those estimates, and such differences may be material to the consolidated financial statements. Reclassifications Certain reclassifications have been made to prior-period amounts to conform to current-period reporting classifications. Concentrations of Credit Risk As of both June 26, 2026 and March 27, 2026, no distributor or customer accounted for 10.0% or more of the Companys outstanding trade accounts receivable, net. For the three-month period ended June 26, 2026, one distributor accounted for 12.3 % o f total net sales. No distributor or customer accounted for 10% or more of total net sales for the three-month period ended June 27, 2025. Segment Information The Company operates as …

SignificantAccountingPoliciesTextBlock · excerpt; the full note is in the filing