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Balance Sheet Components (Tables)

9 Months Ended

Jul. 03, 2021

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Summary of accounts receivable

Accounts receivable, net of allowances, consist of the following:

			July 3, 2021						October 3, 2020
(In thousands)
Accounts receivable			$	86,540					$	73,757
Allowance for credit losses			(1,477)						(1,307)
Allowance for sales incentives			(14,734)						(17,515)
Accounts receivable, net of allowances			$	70,329					$	54,935

Schedule of inventories

Inventories consist of the following:

			July 3, 2021						October 3, 2020
(In thousands)
Finished goods			$	132,784					$	172,184
Component parts			13,913						8,646
Inventories			$	146,697					$	180,830

Schedule of finite-lived intangible assets, future amortization expense

The following table reflects the changes in the net carrying amount of the components of intangible assets associated with the Company's acquisition activity:

			July 3, 2021
			Gross Carrying Amount						Accumulated Amortization						Net Carrying Value						Weighted-Average Remaining Life
(In thousands, except weighted-average remaining life)
Technology			$	7,813					$	(2,960)					$	4,853					2.88
Other			39						(30)						9						0.42
Total finite-lived intangible assets			7,852						(2,990)						4,862						2.87
In-process research and development and other intangible assets not subject to amortization			20,100						—						20,100
Total intangible assets			$	27,952					$	(2,990)					$	24,962

The following table summarizes estimated future amortization expense of the Company's intangible assets as of July 3, 2021:

Fiscal years ending			Future Amortization Expense
(In thousands)
Remainder of fiscal 2021			$	488
2022			1,936
2023			1,248
2024			1,020
2025			170
2026 and thereafter			—
Total future amortization expense			$	4,862

Schedule of accrued expenses

Accrued expenses consist of the following:

			July 3, 2021						October 3, 2020
(In thousands)
Accrued advertising and marketing			$	17,122					$	10,609
Accrued taxes			12,023						6,252
Accrued inventory			16,747						2,843
Accrued manufacturing, logistics and product development			13,958						9,753
Accrued general and administrative expenses			11,000						10,068
Other accrued payables			6,156						5,524
Total accrued expenses			$	77,006					$	45,049

Changes in deferred balances and expected revenue recognition

The following table presents the changes in the Company’s deferred revenue for the nine months ended July 3, 2021 and June 27, 2020:

			July 3, 2021						June 27, 2020
(In thousands)
Deferred revenue, beginning of period			$	62,388					$	56,449
Recognition of revenue included in beginning of period deferred revenue			(13,381)						(10,210)
Revenue deferred, net of revenue recognized on contracts in the respective period			21,379						14,126
Deferred revenue, end of period			$	70,386					$	60,365

Remaining performance obligation

The Company expects the following recognition of deferred revenue as of July 3, 2021:

			For the fiscal years ending
			2021						2022						2023						2024						2025 and Beyond						Total
(In thousands)
Deferred revenue expected to be recognized			$	4,624					$	16,157					$	14,229					$	12,178					$	23,198					$	70,386

Schedule of other current liabilities

Other current liabilities consist of the following:

			July 3, 2021						October 3, 2020
(In thousands)
Reserve for returns			$	19,758					$	14,195
Short-term operating lease liabilities			10,734						10,910
Product warranty liability			5,233						3,628
Other			6,746						2,417
Total other current liabilities			$	42,471					$	31,150

Schedule of product warranty liability

The following table presents the changes in the Company’s warranty liability for the nine months ended July 3, 2021 and June 27, 2020:

			July 3, 2021						June 27, 2020
(In thousands)
Warranty liability, beginning of period			$	3,628					$	3,254
Provision for warranties issued during the period			12,218						9,609
Settlements of warranty claims during the period			(10,613)						(9,657)
Warranty liability, end of period			$	5,233					$	3,206

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Tabular disclosure of receivable, contract asset, and contract liability from contract with customer. Includes, but is not limited to, change in contract asset and contract liability.

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