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Balance Sheet Components (Tables)
 12 Months Ended
Oct. 01, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Summary of Changes in Allowance for Credit Losses

The following table summarizes changes in the allowance for credit losses for fiscal 2022 and 2021, and the allowance for doubtful accounts for fiscal 2020:

 

 

 

October 1,
2022

 

 

October 2,
2021

 

 

October 3,
2020

 

(In thousands)

 

 

 

 

 

 

 

 

 

Beginning balance

 

$

1,547

 

 

$

1,307

 

 

$

1,255

 

Increases

 

 

2,098

 

 

 

1,529

 

 

 

1,127

 

Write-offs

 

 

(901

)

 

 

(1,289

)

 

 

(1,075

)

Ending balance

 

$

2,744

 

 

$

1,547

 

 

$

1,307

 
Summary of Changes In Allowance for Sales Incentives

The following table summarizes the changes in the allowance for sales incentives for fiscal 2022, 2021 and 2020:

 

 

 

October 1,
2022

 

 

October 2,
2021

 

 

October 3,
2020

 

(In thousands)

 

 

 

 

 

 

 

 

 

Beginning balance

 

$

19,160

 

 

$

17,515

 

 

$

20,051

 

Charged to revenue

 

 

51,225

 

 

 

95,249

 

 

 

108,843

 

Utilization of sales incentive allowance

 

 

(46,812

)

 

 

(93,604

)

 

 

(111,379

)

Ending balance

 

$

23,573

 

 

$

19,160

 

 

$

17,515

 
Schedule of Inventories, Net

Inventories, net, consist of the following:

 

 

 

October 1,
2022

 

 

October 2,
2021

 

(In thousands)

 

 

 

 

 

 

Finished goods

 

$

406,657

 

 

$

154,608

 

Components

 

 

47,631

 

 

 

30,522

 

Inventories

 

$

454,288

 

 

$

185,130

 
Schedule of Property and Equipment

Property and equipment are stated at historical cost less accumulated depreciation. Depreciation is calculated using the straight-line method over the estimated useful lives of the related assets as follows:

 

Computer hardware and software

 

1-5 years

Furniture and fixtures

 

2-5 years

Tooling and production line test equipment

 

2-4 years

Leasehold improvements

 

1-15 years

Product displays

 

1-3 years

Property and equipment, net by country as of October 1, 2022, and October 2, 2021 were as follows:

 

 

 

October 1,
2022

 

 

October 2,
2021

 

(In thousands)

 

 

 

 

 

 

China

 

$

40,609

 

 

$

23,460

 

United States

 

 

30,870

 

 

 

40,669

 

Other countries

 

 

14,689

 

 

 

7,212

 

Property and equipment, net

 

$

86,168

 

 

$

71,341

 

Property and equipment, net consist of the following:

 

 

 

October 1,
2022

 

 

October 2,
2021

 

(In thousands)

 

 

 

 

 

 

Computer hardware and software

 

$

42,000

 

 

$

40,098

 

Furniture and fixtures

 

 

7,511

 

 

 

7,483

 

Tooling and production line test equipment

 

 

100,337

 

 

 

76,210

 

Leasehold improvements

 

 

49,656

 

 

 

49,846

 

Product displays

 

 

56,885

 

 

 

57,863

 

Total property and equipment

 

 

256,389

 

 

 

231,500

 

Accumulated depreciation and amortization

 

 

(170,221

)

 

 

(160,159

)

Property and equipment, net

 

$

86,168

 

 

$

71,341

 

 

 
Schedule of goodwill

The following table presents the changes in carrying amount of goodwill for the fiscal year ended October 1, 2022:

 

(In thousands)

 

 

 

Balance as of October 2, 2021

 

$

15,545

 

Goodwill acquired

 

 

66,078

 

Effect of exchange rate changes on goodwill

 

 

(4,323

)

Balance as of October 1, 2022

 

$

77,300

 
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:

 

 

 

October 1, 2022

 

 

 

Gross Carrying Amount

 

 

Accumulated Amortization

 

 

Impact of FX

 

 

Net Carrying Value

 

 

Weighted-Average Remaining Life

 

(In thousands, except weighted-average remaining life)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Tradename

 

$

451

 

 

$

(23

)

 

$

(44

)

 

$

384

 

 

 

5.50

 

Technology-based

 

 

34,032

 

 

 

(8,032

)

 

 

0

 

 

 

26,000

 

 

 

5.50

 

Total finite-lived intangible assets

 

 

34,483

 

 

 

(8,055

)

 

 

(44

)

 

 

26,384

 

 

 

5.50

 

In-process research and development and other intangible
   assets not subject to amortization

 

 

71,759

 

 

 

0

 

 

 

(7,079

)

 

 

64,680

 

 

 

 

Total intangible assets

 

$

106,242

 

 

$

(8,055

)

 

$

(7,123

)

 

$

91,064

 

 

 

 

 

The following table summarizes the estimated future amortization expense of the Company's intangible assets as October 1, 2022:

 

Fiscal years ending

 

Future Amortization Expense

 

(In thousands)

 

 

 

2023

 

$

6,176

 

2024

 

 

5,963

 

2025

 

 

3,363

 

2026

 

 

3,033

 

2027 and thereafter

 

 

7,849

 

Total future amortization expense

 

$

26,384

 

 
Schedule of Accrued Expenses

Accrued expenses consisted of the following:

 

 

 

October 1,
2022

 

 

October 2,
2021

 

(In thousands)

 

 

 

 

 

 

Accrued advertising and marketing

 

$

21,292

 

 

$

19,989

 

Accrued taxes

 

 

7,081

 

 

 

16,941

 

Accrued inventory and supply chain costs

 

 

51,011

 

 

 

48,672

 

Accrued product development

 

 

8,168

 

 

 

7,101

 

Accrued general and administrative expenses

 

 

21,634

 

 

 

14,243

 

Other accrued payables

 

 

104

 

 

 

1,083

 

Total accrued expenses

 

$

109,290

 

 

$

108,029

 
Changes in deferred balances and expected revenue recognition

The following table presents the changes in the Company's deferred revenue balances for the fiscal years ended October 1, 2022, October 2, 2021, and October 3, 2020:

 

 

 

October 1,
2022

 

 

October 2,
2021

 

 

October 3,
2020

 

(In thousands)

 

 

 

 

 

 

 

 

 

Deferred revenue, beginning of period

 

$

89,498

 

 

$

62,389

 

 

$

56,449

 

Recognition of revenue included in beginning of period deferred revenue

 

 

(41,438

)

 

 

(19,175

)

 

 

(13,052

)

Revenue deferred, net of revenue recognized on contracts in the respective period

 

 

35,410

 

 

 

46,284

 

 

 

18,992

 

Deferred revenue, end of period

 

$

83,470

 

 

$

89,498

 

 

$

62,389

 
Remaining performance obligation

The Company expects the following recognition of deferred revenue as of October 1, 2022:

 

 

 

For the fiscal years ending

 

 

 

 

 

 

2023

 

 

2024

 

 

2025

 

 

2026

 

 

2027 and Beyond

 

 

Total

 

(In thousands)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenue expected to be recognized

 

$

27,318

 

 

$

15,587

 

 

$

13,330

 

 

$

11,029

 

 

$

16,206

 

 

$

83,470

 
Schedule of Other Current Liabilities

Other current liabilities consist of the following:

 

 

 

October 1,
2022

 

 

October 2,
2021

 

(In thousands)

 

 

 

 

 

 

Reserve for returns

 

$

18,263

 

 

$

19,266

 

Short-term operating lease liabilities

 

 

10,532

 

 

 

10,724

 

Warranty liability

 

 

5,771

 

 

 

5,604

 

Other

 

 

5,083

 

 

 

3,950

 

Total other current liabilities

 

$

39,649

 

 

$

39,544

 
Schedule of product warranty liability

The following table presents the changes in the Company’s warranty liability for the fiscal years ended October 1, 2022, and October 2, 2021:

 

 

 

October 1,
2022

 

 

October 2,
2021

 

(In thousands)

 

 

 

 

 

 

Warranty liability, beginning of period

 

$

5,604

 

 

$

3,628

 

Provision for warranties issued during the period

 

 

13,033

 

 

 

15,304

 

Settlements of warranty claims during the period

 

 

(12,866

)

 

 

(13,328

)

Warranty liability, end of period

 

$

5,771

 

 

$

5,604