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Stock-based Compensation (Tables) | 6 Months Ended
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Mar. 30, 2024
Share-Based Payment Arrangement [Abstract] |
Schedule of Stock Option Activity | The summary of the Company’s stock option activity is as follows:
| Number of Options |  | Weighted-Average Exercise Price |  | Weighted-Average Remaining Contractual Term |  | Aggregate Intrinsic Value
|  |  |  |  | (In years) |  | (In thousands)
Outstanding at September 30, 2023 | 8,549,957 |  | $ | 13.99 |  |  | 3.6 |  | $ | 1,689 |
Exercised | (916,779) |  | $ | 12.99 |  |  |  |  |
Forfeited | (25,582) |  | $ | 14.37 |  |  |  |  |
Outstanding at March 30, 2024 | 7,607,596 |  | $ | 14.11 |  |  | 3.2 |  | $ | 37,656 |
Schedule of Restricted Stock Unit Activity | The summary of the Company’s RSU activity is as follows:
| Number of Units |  | Weighted-Average Grant Date Fair Value |  | Aggregate Intrinsic Value
|  |  |  |  | (In thousands)
Outstanding at September 30, 2023 | 7,662,035 |  | $ | 19.42 |  |  | $ | 98,917 |
Granted | 9,031,130 |  | $ | 11.74 |  |  |
Released | (2,355,804) |  | $ | 16.96 |  |  |
Forfeited | (622,761) |  | $ | 16.10 |  |  |
Outstanding at March 30, 2024 | 13,714,600 |  | $ | 14.94 |  |  | $ | 261,400 |
At March 30, 2024 |  |  |  |  |
Units expected to vest | 11,445,428 |  | $ | 15.03 |  |  | $ | 218,150 |
Schedule of Performance Stock Units Activity | The summary of the Company’s PSU activity is as follows:
| Number of Units |  | Weighted-Average Grant Date Fair Value |  | Aggregate Intrinsic Value
|  |  |  |  | (In thousands)
Outstanding at September 30, 2023 | 265,191 |  | $ | 21.27 |  |  | $ | 3,424 |
Granted | 499,716 |  | $ | 17.64 |  |  |
Released | (80,827) |  | $ | 23.35 |  |  |
Outstanding at March 30, 2024 | 684,080 |  | $ | 18.37 |  |  | $ | 13,039 |
Schedule of Stock-based Compensation Expense | Total stock-based compensation expense by functional category was as follows:
| Three Months Ended |  | Six Months Ended
| March 30, 2024 |  | April 1, 2023 |  | March 30, 2024 |  | April 1, 2023
(In thousands) |  |  |  |  |  |  |
Cost of revenue | $ | 686 |  |  | $ | 581 |  |  | $ | 1,340 |  |  | $ | 1,151 |
Research and development | 10,419 |  |  | 9,565 |  |  | 19,398 |  |  | 18,716 |
Sales and marketing | 4,972 |  |  | 4,475 |  |  | 8,787 |  |  | 8,588 |
General and administrative | 7,596 |  |  | 6,404 |  |  | 13,506 |  |  | 12,765 |
Total stock-based compensation expense | $ | 23,673 |  |  | $ | 21,025 |  |  | $ | 43,031 |  |  | $ | 41,220 |

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