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Balance Sheet Components | 9 Months Ended
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Jun. 27, 2026
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Balance Sheet Components | 5. Balance Sheet Components Accounts receivable, net Accounts receivable, net consist of the following:
| June 27, 2026 |  | September 27, 2025
(In thousands) |  |  |
Accounts receivable | $ | 177,641 |  |  | $ | 131,945 |
Allowance for credit losses | (3,858) |  |  | (2,900) |
Allowance for sales incentives | (56,593) |  |  | (63,198) |
Accounts receivable, net of allowances | $ | 117,190 |  |  | $ | 65,847 |
Inventories Inventories consist of the following:
| June 27, 2026 |  | September 27, 2025
(In thousands) |  |  |
Finished goods | $ | 137,122 |  |  | $ | 153,485 |
Component parts | 21,021 |  |  | 17,535 |
Inventories | $ | 158,143 |  |  | $ | 171,020 |
As of June 27, 2026 and September 27, 2025, the Company's reserves for excess and obsolete inventory were $38.4 million and $41.2 million, respectively. Property and equipment Property and equipment net of accumulated depreciation were as follows:
| June 27, 2026 |  | September 27, 2025
(In thousands) |  |  |
Property and equipment | $ | 282,108 |  |  | $ | 269,938 |
Less: accumulated depreciation | (221,967) |  |  | (197,661) |
Property and equipment, net | $ | 60,141 |  |  | $ | 72,277 |
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 27, 2026
| 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 |  |  | $ | (324) |  |  | $ | 11 |  |  | $ | 138 |  |  | 1.75
Technology-based | 94,419 |  |  | (30,139) |  |  | - |  |  | 64,280 |  |  | 5.01
Total intangible assets | $ | 94,870 |  |  | $ | (30,463) |  |  | $ | 11 |  |  | $ | 64,418 |  |  | 5.00
| September 27, 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 |  |  | $ | (264) |  |  | $ | 16 |  |  | $ | 203 |  |  | 2.50
Technology-based | 94,419 |  |  | (19,266) |  |  | - |  |  | 75,153 |  |  | 5.73
Total intangible assets | $ | 94,870 |  |  | $ | (19,530) |  |  | $ | 16 |  |  | $ | 75,356 |  |  | 5.73
The following table summarizes the estimated future amortization expense of the Company's intangible assets as of June 27, 2026:
Fiscal years ending | Future Amortization Expense
(In thousands) |
Remainder of fiscal 2026 | $ | 2,651 |
2027 | 13,567 |
2028 | 13,449 |
2029 | 12,453 |
2030 | 10,539 |
2031 and thereafter | 11,759 |
Total future amortization expense | $ | 64,418 |
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 27, 2026 |  | September 27, 2025
(In thousands) |  |  |
Cloud computing implementation costs | $ | 27,411 |  |  | $ | 27,411 |
Less: accumulated amortization | (16,484) |  |  | (13,320) |
Cloud computing implementation costs, net | $ | 10,927 |  |  | $ | 14,091 |
Amortization expense for implementation costs for cloud-based computing arrangements for the three months ended June 27, 2026 and June 28, 2025, were $1.1 million and $0.9 million, respectively. Amortization expense for implementation costs for cloud-based computing arrangements for the nine months ended June 27, 2026 and June 28, 2025, were $3.2 million and $2.6 million, respectively. Accrued expenses Accrued expenses included the following:
| June 27, 2026 |  | September 27, 2025
(In thousands) |  |  |
Accrued inventory and supply chain costs | $ | 48,744 |  |  | $ | 37,780 |
Accrued taxes | 14,110 |  |  | 10,133 |
Accrued general and administrative expenses | 9,856 |  |  | 8,923 |
Accrued advertising and marketing | 7,741 |  |  | 12,429 |
Accrued product development | 3,243 |  |  | 5,912 |
Other accrued payables | 4,195 |  |  | 3,917 |
Total accrued expenses | $ | 87,889 |  |  | $ | 79,094 |
Deferred revenue Amounts invoiced in advance of revenue recognition are recorded as deferred revenue on the condensed consolidated balance sheets and include revenue allocated to unspecified software upgrades and cloud-based services, as well as current deferred revenue related to newly launched products sold to resellers not recognized as revenue until reaching the date of general availability. The following table presents the changes in the Company’s deferred revenue:
| Nine Months Ended
| June 27, 2026 |  | June 28, 2025
(In thousands) |  |  |
Deferred revenue, beginning of period | $ | 81,225 |  |  | $ | 82,877 |
Recognition of revenue included in beginning of period deferred revenue | (16,774) |  |  | (15,041) |
Revenue deferred, net of revenue recognized on contracts in the respective period | 16,053 |  |  | 15,129 |
Deferred revenue, end of period | $ | 80,504 |  |  | $ | 82,965 |
The Company expects the following recognition of deferred revenue as of June 27, 2026:
| For the fiscal years ending |  |
| Remainder of 2026 |  | 2027 |  | 2028 |  | 2029 |  | 2030 and Beyond |  | Total
(In thousands) |  |  |  |  |  |  |  |  |  |  |
Deferred revenue expected to be recognized | $ | 6,359 |  |  | $ | 20,536 |  |  | $ | 17,438 |  |  | $ | 13,897 |  |  | $ | 22,274 |  |  | $ | 80,504 |
Other current liabilities Other current liabilities consist of the following:
| June 27, 2026 |  | September 27, 2025
(In thousands) |  |  |
Reserve for returns | $ | 21,523 |  |  | $ | 20,383 |
Warranty liability | 11,557 |  |  | 10,002 |
Short-term operating lease liabilities | 6,631 |  |  | 6,335 |
Other | 6,064 |  |  | 9,387 |
Total other current liabilities | $ | 45,775 |  |  | $ | 46,107 |
The following table presents the changes in the Company’s warranty liability:
| June 27, 2026 |  | June 28, 2025
(In thousands) |  |  |
Warranty liability, beginning of period | $ | 10,002 |  |  | $ | 10,565 |
Provision for warranties issued during the period | 7,289 |  |  | 10,312 |
Settlements of warranty claims during the period | (5,734) |  |  | (11,169) |
Warranty liability, end of period | $ | 11,557 |  |  | $ | 9,708 |

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