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Income taxes (Tables)

12 Months Ended

Sep. 28, 2019

Income Tax Disclosure [Abstract]

Schedule of income (loss) before provision for (benefit from) income taxes

The Company’s loss before provision for (benefit from) income taxes for fiscal 2019, 2018 and 2017 were as follows: 

	2019				2018				2017
(In thousands)
Domestic	$	(858	)		$	2,803			$	(25,005	)
Foreign	(218		)		(17,351		)		8,497
Loss before provision for (benefit from) income taxes	$	(1,076	)		$	(14,548	)		$	(16,508	)

Schedule of provision for (benefit from) income taxes

Components of the provision for (benefit from) income taxes consisted of the following:

	2019				2018				2017
(In thousands)
Current:
U.S. Federal	$	1,366			$	—			$	—
U.S. State	1,132				177				62
Foreign	1,463				816				(3,791		)
Total current	3,961				993				(3,729		)
Deferred:
U.S. Federal	—				(168		)		—
U.S. State	—				—				—
Foreign	(271		)		231				1,438
Total deferred	(271		)		63				1,438
Provision for (benefit from) income taxes	$	3,690			$	1,056			$	(2,291	)

Schedule of deferred tax assets and liabilities

Components of the Company’s net deferred income tax assets (liabilities) are as follows:

	2019				2018
(In thousands)
Deferred tax assets
Accrued expenses and reserves	$	12,582			$	5,639
Deferred revenue	11,185				10,317
U.S. net operating loss carryforwards	15,112				18,385
Foreign net operating loss carryforwards	3,414				5,625
Tax credit carryforwards	43,411				22,969
Stock-based compensation	10,368				7,237
Amortization	4,131				3,237
Depreciation	672				—
Other	453				427
Total deferred tax assets	101,328				73,836
Valuation allowance	(95,088		)		(72,380		)
Deferred tax assets, net of valuation allowance	6,240				1,456
Deferred tax liabilities
Tax accounting method change	(5,086		)		—
Depreciation	—				(515		)
Total deferred tax liabilities	(5,086		)		(515		)
Net deferred tax assets	$	1,154			$	941

Summary of changes in valuation allowance

The following table summarizes changes in the valuation allowance for fiscal 2019, 2018 and 2017:

(In thousands)	2019				2018				2017
Beginning balance	$	72,380			$	94,956			$	95,882
Increase (decrease) during the period	22,708				(22,576		)		(926		)
Ending balance	$	95,088			$	72,380			$	94,956

Schedule of effective income tax rate reconciliation

Reconciliation of U.S. statutory federal income taxes to the Company’s provision for (benefit from) income taxes is as follows:

(In thousands)	2019				2018				2017
U.S. federal income taxes at statutory rate	$	(226	)		$	(3,570	)		$	(5,778	)
U.S. state and local income taxes	(9,315		)		(1,441		)		(2,454		)
Foreign income tax rate differential	129				(53		)		(1,101		)
Dutch tax settlement	—				—				7,361
Stock-based compensation	(2,399		)		4,025				1,503
Federal research tax credits	(8,418		)		(4,333		)		(2,978		)
Unrecognized federal tax benefits	(2,806		)		1,990				1,191
Change in tax rate	1,161				25,725				—
Net Impact of GILTI	239				—				—
BEAT	781				—				—
Other	822				259				1,197
Change in valuation allowance	23,722				(21,546		)		(1,232		)
Provision for (benefit from) income taxes	$	3,690			$	1,056			$	(2,291	)

Schedule of changes in unrecognized tax benefits

Change in unrecognized tax benefits as a result of uncertain tax positions are as follows:

	2019				2018
(In thousands)
Beginning balance	$	17,794			$	13,780
Increase (decrease) - tax positions in prior periods	(8,226		)		636
Increase (decrease) - tax positions in current periods	2,959				3,378
Ending balance	$	12,527			$	17,794

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Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

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Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

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Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

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Tabular disclosure of income before income tax between domestic and foreign jurisdictions.

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Tabular disclosure of the change in unrecognized tax benefits.

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Tabular disclosure of valuation allowances to reduce deferred tax assets to net realizable value, including identification of the deferred tax asset more likely than not will not be fully realized and the corresponding amount of the valuation allowance.

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