XML 37 R26.htm IDEA: XBRL DOCUMENT v3.24.2.u1
Balance Sheet Components (Tables)
 9 Months Ended
Jun. 29, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Summary of Accounts Receivable
Accounts receivable, net
Accounts receivable, net consist of the following:
June 29,
2024		September 30,
2023
(In thousands)
Accounts receivable$178,713 $99,369 
Allowance for credit losses(2,565)(2,711)
Allowance for sales incentives(44,567)(29,075)
Accounts receivable, net of allowances$131,581 $67,583 
Schedule of Inventories
Inventories consist of the following:
June 29,
2024		September 30,
2023
(In thousands)  
Finished goods$102,403 $281,571 
Component parts52,500 64,950 
Inventories$154,903 $346,521 
Schedule of Goodwill
The following table presents the changes in carrying amount of goodwill during the nine months ended June 29, 2024:
(In thousands)
Balance as of September 30, 2023$80,420 
Effect of exchange rate changes on goodwill560 
Balance as of June 29, 2024$80,980 
Schedule of Intangible Assets
The following table reflects the changes in the net carrying amount of the components of intangible assets associated with the Company's acquisition activity:
June 29, 2024
Gross Carrying Amount
Accumulated Amortization
Foreign Currency TranslationNet Carrying ValueWeighted-Average Remaining
Life
(In thousands, except weighted-average remaining life)
Trade name$451 $(167)$(6)$278 3.75
Technology-based31,480 (16,010)— 15,470 4.57
Total finite-lived intangible assets31,931 (16,177)(6)15,748 4.56
In-process research and development not subject to amortization71,759 — (1,053)70,706 
Total intangible assets$103,690 $(16,177)$(1,059)$86,454 
Schedule of Intangible Assets
The following table reflects the changes in the net carrying amount of the components of intangible assets associated with the Company's acquisition activity:
June 29, 2024
Gross Carrying Amount
Accumulated Amortization
Foreign Currency TranslationNet Carrying ValueWeighted-Average Remaining
Life
(In thousands, except weighted-average remaining life)
Trade name$451 $(167)$(6)$278 3.75
Technology-based31,480 (16,010)— 15,470 4.57
Total finite-lived intangible assets31,931 (16,177)(6)15,748 4.56
In-process research and development not subject to amortization71,759 — (1,053)70,706 
Total intangible assets$103,690 $(16,177)$(1,059)$86,454 
Summary of Estimated Future Amortization Expense
The following table summarizes the estimated future amortization expense of the Company's intangible assets as of June 29, 2024:
Fiscal years endingFuture Amortization Expense
(In thousands)
Remainder of fiscal 2024$1,493 
20253,369 
20263,040 
20273,024 
20282,908 
2029 and thereafter1,914 
Total future amortization expense$15,748 
Summary of Cloud Computing Arrangements
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 and were as follows:
June 29,
2024		September 30,
2023
Cloud computing implementation costs$24,601 $24,177 
Less: accumulated amortization8,825 6,207 
Cloud computing implementation costs, net$15,776 $17,970 
Schedule of Accrued Expenses
Accrued expenses consisted of the following:
June 29,
2024		September 30,
2023
(In thousands)
Accrued inventory and supply chain costs$40,858 $48,384 
Accrued taxes16,181 11,410 
Accrued advertising and marketing13,208 13,029 
Accrued general and administrative expenses10,109 9,924 
Accrued product development2,845 4,298 
Other accrued payables5,757 2,672 
Total accrued expenses$88,958 $89,717 
Changes in Deferred Balances and Expected Revenue Recognition
The following table presents the changes in the Company’s deferred revenue:
Nine Months Ended
June 29,
2024		July 1,
2023
(In thousands)
Deferred revenue, beginning of period$80,838 $83,470 
Recognition of revenue included in beginning of period deferred revenue(17,723)(21,049)
Revenue deferred, net of revenue recognized on contracts in the respective period19,871 19,844 
Deferred revenue, end of period$82,986 $82,265 
Remaining Performance Obligation
The Company expects the following recognition of deferred revenue as of June 29, 2024:
 For the fiscal years ending
 Remainder of 20242025202620272028 and
Beyond		Total
(In thousands)
Deferred revenue expected to be recognized$5,853 $19,668 $17,286 $14,640 $25,539 $82,986 
Schedule of Other Current Liabilities
Other current liabilities consist of the following:
June 29,
2024		September 30,
2023
(In thousands)
Reserve for returns$23,338 $21,462 
Warranty liability8,790 7,466 
Short-term operating lease liabilities7,722 1,153 
Other 4,891 4,172 
Total other current liabilities$44,741 $34,253 
Schedule of Product Warranty Liability
The following table presents the changes in the Company’s warranty liability:
June 29,
2024		July 1,
2023
(In thousands)
Warranty liability, beginning of period$7,466 $5,771 
Provision for warranties issued during the period13,363 10,670 
Settlements of warranty claims during the period(12,039)(7,472)
Warranty liability, end of period$8,790 $8,969