XML 32 R19.htm IDEA: XBRL DOCUMENT
v3.25.1

Restructuring and Other Charges | 6 Months Ended
--- | ---
Mar. 29, 2025
Restructuring and Related Activities [Abstract] |
Restructuring and Other Charges | 13. Restructuring and Other Charges The Company started a cost transformation initiative in the second half of fiscal 2024 with the goal of optimizing investments for sustainable, long-term growth. This included the August 14, 2024 initiation of a restructuring plan (the "2024 restructuring plan") that involved a reduction in force of approximately 6% of its employees and a reduction to its real estate footprint. Building on this effort, the Company announced a subsequent restructuring on February 5, 2025, including a reduction in force involving approximately 12% of its employees (the “2025 restructuring plan”). This cost transformation also involved charges related to rationalization of its product roadmap. Furthermore, in January 2025, Patrick Spence stepped down from his role as Chief Executive Officer ("CEO") and as a member of the Board, resulting in the Company incurring costs related to this transition, which are also included in restructuring and other charges. The following table summarizes the components of restructuring and other charges:
| Three Months Ended |  | Six Months Ended
(in thousands) | March 29, 2025 |  | March 30, 2024 |  | March 29, 2025 |  | March 30, 2024
Cash restructuring charges: |  |  |  |  |  |  |
Employee-related costs | $ | 15,353 |  |  | $ | — |  |  | $ | 15,353 |  |  | $ | — |
Other restructuring costs (1) | 3,458 |  |  | — |  |  | 3,398 |  |  | 308 |
Total cash charges | $ | 18,811 |  |  | $ | — |  |  | $ | 18,751 |  |  | $ | 308 |
Non-cash charges: |  |  |  |  |  |  |
Stock-based awards (2) | $ | 3,143 |  |  | $ | — |  |  | $ | 3,143 |  |  | $ | — |
Asset write-offs | 1,746 |  |  | 6 |  |  | 1,746 |  |  | 266 |
Total non-cash charges | $ | 4,889 |  |  | $ | 6 |  |  | $ | 4,889 |  |  | $ | 266 |
Total restructuring and other charges | $ | 23,700 |  |  | $ | 6 |  |  | $ | 23,640 |  |  | $ | 574 |
(1)Other restructuring charges include costs primarily related to rationalization of the Company's product roadmap. (2)Non-cash charges for stock-based awards were related to modifications for equity awards primarily in connection with the CEO transition. These modifications included accelerated vesting of certain RSUs and an extension of the post-termination exercise period for certain stock options. The following table summarizes restructuring and other charges recorded in the Company's condensed consolidated statements of operations and comprehensive income (loss):
| Three Months Ended |  | Six Months Ended
(in thousands) | March 29, 2025 |  | March 30, 2024 |  | March 29, 2025 |  | March 30, 2024
Cost of revenue | $ | 3,935 |  |  | $ | — |  |  | $ | 3,935 |  |  | $ | — |
Research and development | 12,766 |  |  | — |  |  | 12,706 |  |  | 323 |
Sales and marketing | 2,792 |  |  | — |  |  | 2,792 |  |  | 113 |
General and administrative | 4,207 |  |  | 6 |  |  | 4,207 |  |  | 138 |
Total restructuring and other charges | $ | 23,700 |  |  | $ | 6 |  |  | $ | 23,640 |  |  | $ | 574 |
The following table summarizes the Company's restructuring and other charges recorded in accrued expenses and accrued compensation within the condensed consolidated balance sheets:
(in thousands) | Employee Related Costs |  | Other Restructuring Costs |  | Total
Balance as of September 28, 2024(1) | $ | 2,152 |  |  | $ | 1,037 |  |  | $ | 3,189 |
Restructuring charges | 15,353 |  |  | 3,398 |  |  | 18,751 |
Cash paid | (12,984) |  |  | (900) |  |  | (13,884) |
Balance as of March 29, 2025 | $ | 4,521 |  |  | $ | 3,535 |  |  | $ | 8,056 |
(1)Balance as of September 28, 2024, relates to activities under the 2024 restructuring plan.

X
- References No definition available. + Details
Name: | us-gaap_RestructuringAndRelatedActivitiesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for restructuring and related activities. Description of restructuring activities such as exit and disposal activities, include facts and circumstances leading to the plan, the expected plan completion date, the major types of costs associated with the plan activities, total expected costs, the accrual balance at the end of the period, and the periods over which the remaining accrual will be settled. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 5.P.4.e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479823/420-10-S99-2 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482017/420-10-50-1 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482017/420-10-50-1 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/420/tableOfContent Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482017/420-10-50-1 + Details
Name: | us-gaap_RestructuringAndRelatedActivitiesDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration