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Balance Sheet Components (Tables) | 6 Months Ended
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Apr. 02, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Summary of accounts receivable | Accounts receivable, net of allowances, consist of the following:
|  | April 2, 2022 |  |  | October 2, 2021 |
(In thousands) |  |  |  |  |  |
Accounts receivable |  | $ | 128,989 |  |  | $ | 121,486 |
Allowance for credit losses |  |  | (1,913 | ) |  |  | (1,547 | )
Allowance for sales incentives |  |  | (15,688 | ) |  |  | (19,160 | )
Accounts receivable, net of allowances |  | $ | 111,388 |  |  | $ | 100,779 |
Schedule of inventories | Inventories, net, consist of the following:
|  | April 2, 2022 |  |  | October 2, 2021 |
(In thousands) |  |  |  |  |  |
Finished goods |  | $ | 208,476 |  |  | $ | 154,608 |
Component parts |  |  | 55,929 |  |  |  | 30,522 |
Inventories |  | $ | 264,405 |  |  | $ | 185,130 |
Schedule of goodwill | The following table presents the changes in carrying amount of goodwill during the six months ended April 2, 2022:
(In thousands) |  |  |
Balance as of October 2, 2021 |  | $ | 15,545 |
Goodwill acquired |  |  | 22,181 |
Balance as of April 2, 2022 |  | $ | 37,726 |
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:
|  | April 2, 2022 |
|  | Gross Carrying Amount |  |  | Accumulated Amortization |  |  | Net Carrying Value |  |  | Weighted-Average Remaining Life |
(In thousands, except weighted-average remaining life) |  |  |  |  |  |  |  |  |  |  |  |
Technology |  | $ | 13,931 |  |  | $ | (5,143 | ) |  | $ | 8,788 |  |  |  | 2.63 |
Total finite-lived intangible assets |  |  | 13,931 |  |  |  | (5,143 | ) |  |  | 8,788 |  |  |  | 2.63 |
In-process research and development not subject to amortization |  |  | 20,100 |  |  |  | — |  |  |  | 20,100 |  |  |  |
Total intangible assets |  | $ | 34,031 |  |  | $ | (5,143 | ) |  | $ | 28,888 |  |  |  |
The following table summarizes the estimated future amortization expense of the Company's intangible assets as of April 2, 2022:
Fiscal years ending |  | Future Amortization Expense |
(In thousands) |  |  |
Remainder of fiscal 2022 |  | $ | 1,931 |
2023 |  |  | 3,237 |
2024 |  |  | 3,024 |
2025 |  |  | 423 |
2026 |  |  | 94 |
2027 and there after |  |  | 79 |
Total future amortization expense |  | $ | 8,788 |
Schedule of accrued expenses | Accrued expenses consisted of the following:
|  | April 2, 2022 |  |  | October 2, 2021 |
(In thousands) |  |  |  |  |  |
Accrued advertising and marketing |  | $ | 13,751 |  |  | $ | 19,989 |
Accrued taxes |  |  | 13,710 |  |  |  | 16,941 |
Accrued inventory |  |  | 25,971 |  |  |  | 37,117 |
Accrued manufacturing, logistics and product development |  |  | 17,647 |  |  |  | 14,943 |
Accrued general and administrative expenses |  |  | 20,010 |  |  |  | 13,066 |
Other accrued payables |  |  | 9,255 |  |  |  | 5,973 |
Total accrued expenses |  | $ | 100,344 |  |  | $ | 108,029 |
Changes in deferred balances and expected revenue recognition | The following table presents the changes in the Company’s deferred revenue for the six months ended April 2, 2022, and April 3, 2021:
|  | April 2, 2022 |  |  | April 3, 2021 |
(In thousands) |  |  |  |  |  |
Deferred revenue, beginning of period |  | $ | 89,498 |  |  | $ | 62,389 |
Recognition of revenue included in beginning of period deferred revenue |  |  | (28,927 | ) |  |  | (7,883 | )
Revenue deferred, net of revenue recognized on contracts in the respective period |  |  | 16,063 |  |  |  | 16,383 |
Deferred revenue, end of period |  | $ | 76,634 |  |  | $ | 70,889 |
Remaining performance obligation | The Company expects the following recognition of deferred revenue as of April 2, 2022:
|  | For the fiscal years ending |  |  |  |
|  | 2022 |  |  | 2023 |  |  | 2024 |  |  | 2025 |  |  | 2026 and Beyond |  |  | Total |
(In thousands) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Deferred revenue expected to be recognized |  | $ | 9,750 |  |  | $ | 16,859 |  |  | $ | 14,809 |  |  | $ | 12,498 |  |  | $ | 22,718 |  |  | $ | 76,634 |
Schedule of other current liabilities | Other current liabilities consist of the following:
|  | April 2, 2022 |  |  | October 2, 2021 |
(In thousands) |  |  |  |  |  |
Reserve for returns |  | $ | 18,839 |  |  | $ | 19,266 |
Short-term operating lease liabilities |  |  | 9,923 |  |  |  | 10,724 |
Product warranty liability |  |  | 8,756 |  |  |  | 5,604 |
Other |  |  | 4,066 |  |  |  | 3,950 |
Total other current liabilities |  | $ | 41,584 |  |  | $ | 39,544 |
Schedule of product warranty liability | The following table presents the changes in the Company’s warranty liability for the six months ended April 2, 2022, and April 3, 2021:
|  | April 2, 2022 |  |  | April 3, 2021 |
(In thousands) |  |  |  |  |  |
Warranty liability, beginning of period |  | $ | 5,604 |  |  | $ | 3,628 |
Provision for warranties issued during the period |  |  | 7,082 |  |  |  | 8,844 |
Settlements of warranty claims during the period |  |  | (3,930 | ) |  |  | (7,616 | )
Warranty liability, end of period |  | $ | 8,756 |  |  | $ | 4,856 |

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