Exhibit 99.2 Q1 FY26 Letter to Shareholders August 5, 2025 August 5, 2025 Dear Shareholders, | Q1 FY26 | GAAP | Adj. | Non-GAAP* | | --- | --- | --- | --- | | Revenue | $407.3 | |$407.3 | | Gross Profit | $214.0 |$0.3 | $214.3 | | Gross Margin | 52.6$141.6 | ($22.1) |$119.5 | | Operating Income | $72.4 |$22.5 | $94.9 | | Operating Profit | 17.8$8.6 | | $8.6 | | Other Expense |$(0.4) | | $(0.4) | | Income Tax Expense |$19.9 | $2.9 | ...