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Balance Sheet Components (Tables) | 3 Months Ended
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Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Summary of accounts receivable | Accounts receivable, net of allowances Accounts receivable, net of allowances, consist of the following:
|  | December 31, 2022 |  |  | October 1, 2022 |
(In thousands) |  |  |  |  |  |
Accounts receivable |  | $ | 141,587 |  |  | $ | 127,523 |
Allowance for credit losses |  |  | (3,129 | ) |  |  | (2,744 | )
Allowance for sales incentives |  |  | (28,755 | ) |  |  | (23,573 | )
Accounts receivable, net of allowances |  | $ | 109,703 |  |  | $ | 101,206 |
Schedule of inventories | Inventories, net, consist of the following:
|  | December 31, 2022 |  |  | October 1, 2022 |
(In thousands) |  |  |  |  |  |
Finished goods |  | $ | 260,734 |  |  | $ | 406,657 |
Component parts |  |  | 45,322 |  |  |  | 47,631 |
Inventories |  | $ | 306,056 |  |  | $ | 454,288 |
Schedule of goodwill | The following table presents the changes in carrying amount of goodwill during the three months ended December 31, 2022:
(In thousands) |  |  |
Balance as of October 1, 2022 |  | $ | 77,300 |
Effect of exchange rate changes on goodwill |  |  | 3,641 |
Balance as of December 31, 2022 |  | $ | 80,941 |
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:
|  | December 31, 2022 |
|  | Gross Carrying Amount |  |  | Accumulated Amortization |  |  | Impact of FX |  |  | Net Carrying Value |  |  | Weighted-Average Remaining Life |
(In thousands, except weighted-average remaining life) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Trade name |  | $ | 451 |  |  | $ | (52 | ) |  | $ | (7 | ) |  | $ | 392 |  |  |  | 5.25 |
Technology-based |  |  | 31,480 |  |  |  | (7,167 | ) |  |  | — |  |  |  | 24,313 |  |  |  | 5.36 |
Total finite-lived intangible assets |  |  | 31,931 |  |  |  | (7,219 | ) |  |  | (7 | ) |  |  | 24,705 |  |  |  | 5.36 |
In-process research and development not subject to amortization |  |  | 71,759 |  |  |  | — |  |  |  | (1,119 | ) |  |  | 70,640 |  |  |  |
Total intangible assets |  | $ | 103,690 |  |  | $ | (7,219 | ) |  | $ | (1,126 | ) |  | $ | 95,345 |  |  |  |
The following table summarizes the estimated future amortization expense of the Company's intangible assets as of December 31, 2022:
Fiscal years ending |  | Future Amortization Expense |
(In thousands) |  |  |
Remainder of fiscal 2023 |  | $ | 4,478 |
2024 |  |  | 5,970 |
2025 |  |  | 3,369 |
2026 |  |  | 3,040 |
2027 |  |  | 3,025 |
2028 and there after |  |  | 4,823 |
Total future amortization expense |  | $ | 24,705 |
Schedule of accrued expenses | Accrued expenses consisted of the following:
|  | December 31, 2022 |  |  | October 1, 2022 |
(In thousands) |  |  |  |  |  |
Accrued taxes |  | $ | 52,729 |  |  | $ | 7,081 |
Accrued inventory and supply chain costs |  |  | 44,895 |  |  |  | 51,011 |
Accrued general and administrative expenses |  |  | 21,124 |  |  |  | 21,634 |
Accrued advertising and marketing |  |  | 12,893 |  |  |  | 21,292 |
Accrued product development |  |  | 6,392 |  |  |  | 8,168 |
Other accrued payables |  |  | 311 |  |  |  | 104 |
Total accrued expenses |  | $ | 138,344 |  |  | $ | 109,290 |
Changes in deferred balances and expected revenue recognition | The following table presents the changes in the Company’s deferred revenue for the three months ended December 31, 2022, and January 1, 2022:
|  | December 31, 2022 |  |  | January 1, 2022 |
(In thousands) |  |  |  |  |  |
Deferred revenue, beginning of period |  | $ | 83,470 |  |  | $ | 89,498 |
Recognition of revenue included in beginning of period deferred revenue |  |  | (11,520 | ) |  |  | (23,721 | )
Revenue deferred, net of revenue recognized on contracts in the respective period |  |  | 10,031 |  |  |  | 9,801 |
Deferred revenue, end of period |  | $ | 81,981 |  |  | $ | 75,578 |
Remaining performance obligation | The Company expects the following recognition of deferred revenue as of December 31, 2022:
|  | For the fiscal years ending |  |  |  |
|  | 2023 |  |  | 2024 |  |  | 2025 |  |  | 2026 |  |  | 2027 and Beyond |  |  | Total |
(In thousands) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Deferred revenue expected to be recognized |  | $ | 14,954 |  |  | $ | 17,507 |  |  | $ | 15,214 |  |  | $ | 12,830 |  |  | $ | 21,476 |  |  | $ | 81,981 |
Schedule of other current liabilities | Other current liabilities consist of the following:
|  | December 31, 2022 |  |  | October 1, 2022 |
(In thousands) |  |  |  |  |  |
Reserve for returns |  | $ | 21,197 |  |  | $ | 18,263 |
Short-term operating lease liabilities |  |  | 10,827 |  |  |  | 10,532 |
Warranty liability |  |  | 9,917 |  |  |  | 5,771 |
Other |  |  | 15,327 |  |  |  | 5,083 |
Total other current liabilities |  | $ | 57,268 |  |  | $ | 39,649 |
Schedule of product warranty liability | The following table presents the changes in the Company’s warranty liability for the three months ended December 31, 2022, and January 1, 2022:
|  | December 31, 2022 |  |  | January 1, 2022 |
(In thousands) |  |  |  |  |  |
Warranty liability, beginning of period |  | $ | 5,771 |  |  | $ | 5,604 |
Provision for warranties issued during the period |  |  | 6,177 |  |  |  | 5,359 |
Settlements of warranty claims during the period |  |  | (2,031 | ) |  |  | (1,297 | )
Warranty liability, end of period |  | $ | 9,917 |  |  | $ | 9,666 |

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