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Balance Sheet Components (Tables) | 3 Months Ended
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Dec. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Summary of accounts receivable | Accounts receivable, net Accounts receivable, net consist of the following:
|  | December 30, 2023 |  |  | September 30, 2023 |
(In thousands) |  |  |  |  |  |
Accounts receivable |  | $ | 146,245 |  |  | $ | 99,369 |
Allowance for credit losses |  |  | (2,369 | ) |  |  | (2,711 | )
Allowance for sales incentives |  |  | (63,065 | ) |  |  | (29,075 | )
Accounts receivable, net of allowances |  | $ | 80,811 |  |  | $ | 67,583 |
Schedule of Inventories | Inventories consist of the following:
|  | December 30, 2023 |  |  | September 30, 2023 |
(In thousands) |  |  |  |  |  |
Finished goods |  | $ | 113,354 |  |  | $ | 281,571 |
Component parts |  |  | 59,689 |  |  |  | 64,950 |
Inventories |  | $ | 173,043 |  |  | $ | 346,521 |
Schedule of goodwill | The following table presents the changes in carrying amount of goodwill during the three months ended December 30, 2023:
(In thousands) |  |  |
Balance as of September 30, 2023 |  | $ | 80,420 |
Effect of exchange rate changes on goodwill |  |  | 1,868 |
Balance as of December 30, 2023 |  | $ | 82,288 |
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 30, 2023 |
|  | Gross Carrying Amount |  |  | Accumulated Amortization |  |  | Foreign Currency Translation |  |  | Net Carrying Value |  |  | Weighted-Average Remaining Life |
(In thousands, except weighted-average remaining life) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Trade name |  | $ | 451 |  |  | $ | (131 | ) |  | $ | 7 |  |  | $ | 327 |  |  |  | 4.25 |
Technology-based |  |  | 31,480 |  |  |  | (13,062 | ) |  |  | — |  |  |  | 18,418 |  |  |  | 4.76 |
Total finite-lived intangible assets |  |  | 31,931 |  |  |  | (13,193 | ) |  |  | 7 |  |  |  | 18,745 |  |  |  | 4.75 |
In-process research and development not subject to amortization |  |  | 71,759 |  |  |  | — |  |  |  | 1,087 |  |  |  | 72,846 |  |  |  |
Total intangible assets |  | $ | 103,690 |  |  | $ | (13,193 | ) |  | $ | 1,094 |  |  | $ | 91,591 |  |  |  |
The following table summarizes the estimated future amortization expense of the Company's intangible assets as of December 30, 2023:
Fiscal years ending |  | Future Amortization Expense |
(In thousands) |  |  |
Remainder of fiscal 2024 |  | $ | 4,479 |
2025 |  |  | 3,372 |
2026 |  |  | 3,043 |
2027 |  |  | 3,027 |
2028 |  |  | 2,910 |
2029 and thereafter |  |  | 1,914 |
Total future amortization expense |  | $ | 18,745 |
Summary of capitalized costs to implement cloud computing arrangements net of accumulated amortization | Capitalized costs to implement cloud computing arrangements net of accumulated amortization are reported as a component of other noncurrent assets on the Company's condensed consolidated balance sheets were as follows:
|  | December 30, 2023 |  |  | September 30, 2023 |
Cloud computing implementation costs |  | $ | 24,177 |  |  | $ | 24,177 |
Less: accumulated amortization |  |  | 7,080 |  |  |  | 6,207 |
Cloud computing implementation costs, net |  | $ | 17,097 |  |  | $ | 17,970 |
Schedule of Accrued expenses | Accrued expenses consisted of the following:
|  | December 30, 2023 |  |  | September 30, 2023 |
(In thousands) |  |  |  |  |  |
Accrued inventory and supply chain costs |  | $ | 33,555 |  |  | $ | 48,384 |
Accrued taxes |  |  | 28,364 |  |  |  | 11,410 |
Accrued advertising and marketing |  |  | 18,240 |  |  |  | 13,029 |
Accrued general and administrative expenses |  |  | 9,353 |  |  |  | 9,924 |
Other accrued payables |  |  | 5,100 |  |  |  | 2,672 |
Accrued product development |  |  | 3,380 |  |  |  | 4,298 |
Total accrued expenses |  | $ | 97,992 |  |  | $ | 89,717 |
Changes in deferred balances and expected revenue recognition | The following table presents the changes in the Company’s deferred revenue:
|  | Three Months Ended |
|  | December 30, 2023 |  |  | December 31, 2022 |
(In thousands) |  |  |  |  |  |
Deferred revenue, beginning of period |  | $ | 80,838 |  |  | $ | 83,470 |
Recognition of revenue included in beginning of period deferred revenue |  |  | (4,023 | ) |  |  | (11,520 | )
Revenue deferred, net of revenue recognized on contracts in the respective period |  |  | 9,090 |  |  |  | 10,031 |
Deferred revenue, end of period |  | $ | 85,905 |  |  | $ | 81,981 |
Remaining performance obligation | The Company expects the following recognition of deferred revenue as of December 30, 2023:
|  | For the fiscal years ending |  |  |  |
|  | 2024 |  |  | 2025 |  |  | 2026 |  |  | 2027 |  |  | 2028 and Beyond |  |  | Total |
(In thousands) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Deferred revenue expected to be recognized |  | $ | 16,018 |  |  | $ | 18,685 |  |  | $ | 16,273 |  |  | $ | 13,596 |  |  | $ | 21,333 |  |  | $ | 85,905 |
Schedule of other current liabilities | Other current liabilities consist of the following:
|  | December 30, 2023 |  |  | September 30, 2023 |
(In thousands) |  |  |  |  |  |
Reserve for returns |  | $ | 31,796 |  |  | $ | 21,462 |
Other |  |  | 10,378 |  |  |  | 4,172 |
Warranty liability |  |  | 8,772 |  |  |  | 7,466 |
Short-term operating lease liabilities |  |  | 1,737 |  |  |  | 1,153 |
Total other current liabilities |  | $ | 52,683 |  |  | $ | 34,253 |
Schedule of product warranty liability | The following table presents the changes in the Company’s warranty liability:
|  | December 30, 2023 |  |  | December 31, 2022 |
(In thousands) |  |  |  |  |  |
Warranty liability, beginning of period |  | $ | 7,466 |  |  | $ | 5,771 |
Provision for warranties issued during the period |  |  | 5,582 |  |  |  | 6,177 |
Settlements of warranty claims during the period |  |  | (4,276 | ) |  |  | (2,031 | )
Warranty liability, end of period |  | $ | 8,772 |  |  | $ | 9,917 |

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