
	March 29, 2025		September 28, 2024
(In thousands)
Accounts receivable	$	96,337	$	96,254
Allowance for credit losses	(2,785)		(2,619)
Allowance for sales incentives	(53,122)		(49,122)
Accounts receivable, net of allowances	$	40,430	$	44,513


	March 29, 2025		September 28, 2024
(In thousands)
Finished goods	$	112,910	$	199,825
Component parts	25,511		31,680
Inventories	$	138,421	$	231,505

As of March 29, 2025 and September 28, 2024, inventory write-downs were $29.8 million and $33.3 million, respectively.


	March 29, 2025		September 28, 2024
(In thousands)
Property and equipment	$	287,670	$	280,247
Less: accumulated depreciation	(201,635)		(178,099)
Property and equipment, net	$	86,035	$	102,148

In the first quarter of fiscal year 2025, the Company determined that the underlying project related to the in-process research and development from the acquisition of Mayht Holding BV ("Mayht") was completed. As a result, the acquired $73.8 million of in-process research and development was reclassified as definite-lived developed technology and will amortize over its estimated economic life of 7 years. The following table reflects the changes in the net carrying amount of the components of intangible assets associated with the Company's acquisition activity:


	March 29, 2025
	Gross Carrying Amount		Accumulated Amortization		Foreign Currency Translation		Net Carrying Value		Weighted-Average Remaining Life (In years)
(In thousands, except weighted-average remaining life)
Trade name	$	451	$	(224)	$	(2)	$	225	3.00
Technology-based	94,419		(13,333)		-		81,086		6.22
Total intangible assets	$	94,870	$	(13,557)	$	(2)	$	81,311	6.21


	September 28, 2024
	Gross Carrying Amount		Accumulated Amortization		Foreign Currency Translation		Net Carrying Value		Weighted-Average Remaining Life (In years)
(In thousands, except weighted-average remaining life)
Trade name	$	451	$	(188)	$	7	$	270	3.50
Technology-based	31,480		(17,484)		-		13,996		4.52
Total finite-lived intangible assets	31,931		(17,672)		7		14,266		4.51
In-process research and development not subject to amortization	73,770		-		-		73,770
Total intangible assets	$	105,701	$	(17,672)	$	7	$	88,036

The following table summarizes the estimated future amortization expense of the Company's intangible assets as of March 29, 2025:


Fiscal years ending	Future Amortization Expense
(In thousands)
Remainder of fiscal 2025	$	5,971
2026	13,579
2027	13,563
2028	13,447
2029	12,453
2030 and thereafter	22,298
Total future amortization expense	$	81,311

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:


	March 29, 2025		September 28, 2024
(In thousands)
Cloud computing implementation costs	$	26,288	$	25,038
Less: accumulated amortization	(11,411)		(9,697)
Cloud computing implementation costs, net	$	14,877	$	15,341

Amortization expense for implementation costs for cloud-based computing arrangements for the three months ended March 29, 2025 and March 30, 2024, were $0.9 million. Amortization expense for implementation costs for cloud-based computing arrangements for the six months ended March 29, 2025 and March 30, 2024, were $1.7 million.


	March 29, 2025		September 28, 2024
(In thousands)
Accrued inventory and supply chain costs	$	39,027	$	34,204
Accrued advertising and marketing	11,854		12,893
Accrued general and administrative expenses	7,974		10,870
Accrued taxes	6,843		19,084
Accrued product development	2,565		4,338
Other accrued payables	5,268		6,394
Total accrued expenses	$	73,531	$	87,783

Amounts invoiced in advance of revenue recognition are recorded as deferred revenue on the condensed consolidated balance sheets. For the six months ended March 29, 2025 and March 30, 2024, deferred revenue included revenue allocated to unspecified software upgrades and cloud-based services of $80.8 million and $82.7 million, respectively, as well as current deferred revenue related to newly launched products sold to resellers not recognized as revenue until the date of general availability was reached.


	Six Months Ended
	March 29, 2025		March 30, 2024
(In thousands)
Deferred revenue, beginning of period	$	82,877	$	80,838
Recognition of revenue included in beginning of period deferred revenue	(12,229)		(12,775)
Revenue deferred, net of revenue recognized on contracts in the respective period	10,842		15,245
Deferred revenue, end of period	$	81,490	$	83,308


	For the fiscal years ending
	Remainder of 2025		2026		2027		2028		2029 and Beyond		Total
(In thousands)
Deferred revenue expected to be recognized	$	11,230	$	19,329	$	16,678	$	13,644	$	20,609	$	81,490


	March 29, 2025		September 28, 2024
(In thousands)
Reserve for returns	$	24,870	$	20,304
Warranty liability	9,974		10,565
Short-term operating lease liabilities	6,584		7,551
Other	9,358		7,857
Total other current liabilities	$	50,786	$	46,277


	March 29, 2025		March 30, 2024
(In thousands)
Warranty liability, beginning of period	$	10,565	$	7,466
Provision for warranties issued during the period	7,428		8,126
Settlements of warranty claims during the period	(8,019)		(8,692)
Warranty liability, end of period	$	9,974	$	6,900