Balance Sheet Components (Tables)

12 Months Ended

Dec. 31, 2023

Balance Sheet Related Disclosures [Abstract]

Schedule of Amortized Cost and Estimated Fair Market Value of Investments Classified as Available-for-Sale Excluding Cash Equivalents

Amortized cost and estimated fair market value of investments classified as available-for-sale, excluding cash equivalents, as of December 31, 2023, and December 31, 2022, were as follows:

	December 31, 2023
(In thousands)	Amortized Cost		Unrealized Gains		Unrealized Losses		Estimated Fair Value
U.S. treasury securities	$	98,326	$	128	$	—	$	98,454
Convertible debt (1)		173		—		—		173
Total	$	98,499	$	128	$	—	$	98,627

	December 31, 2022
(In thousands)	Amortized Cost		Unrealized Gains		Unrealized Losses			Estimated Fair Value
U.S. treasury securities	$	74,120	$	—	$	(320	)	$	73,800
Convertible debt (1)		346		—		—			346
Certificates of deposit		6		—		—			6
Total	$	74,472	$	—	$	(320	)	$	74,152

(1)On the Company’s consolidated balance sheets, $173,000 included in Short-term investments as of December 31, 2023, and December 31, 2022, respectively, and $173,000 included in Other non-current assets as of December 31, 2022.

Schedule of Investments Classified as Available-for-Sale in Continuous Unrealized Loss Position

The following table summarizes investments classified as available-for-sale in a continuous unrealized loss position for which an allowance for credit

losses was not recorded as of December 31, 2023 and 2022, respectively:

	December 31, 2023
	Less Than 12 Months				12 Months or Longer				Total
(In thousands)	Estimated Fair Market Value		Gross Unrealized Losses		Estimated Fair Market Value		Gross Unrealized Losses		Estimated Fair Market Value		Gross Unrealized Losses
U.S. treasury securities	$	98,454	$	—	$	—	$	—	$	98,454	$	—
Total	$	98,454	$	—	$	—	$	—	$	98,454	$	—

	December 31, 2022
	Less Than 12 Months					12 Months or Longer				Total
(In thousands)	Estimated Fair Market Value		Gross Unrealized Losses			Estimated Fair Market Value		Gross Unrealized Losses		Estimated Fair Market Value		Gross Unrealized Losses
U.S. treasury securities	$	73,800	$	(320	)	$	—	$	—	$	73,800	$	(320	)
Total	$	73,800	$	(320	)	$	—	$	—	$	73,800	$	(320	)

Schedule of Inventories

Inventories

(In thousands)	December 31, 2023		December 31, 2022
Raw materials	$	19,955	$	4,549
Finished goods		228,896		295,065
Total	$	248,851	$	299,614

Schedule of Property and Equipment, Net

Property and equipment, net

(In thousands)	December 31, 2023			December 31, 2022
Computer equipment	$	5,458		$	9,648
Furniture, fixtures, and leasehold improvements		18,205			18,642
Software		25,760			30,610
Machinery and equipment		47,826			76,806
Total property and equipment, gross		97,249			135,706
Accumulated depreciation		(88,976	)		(126,481	)
Total	$	8,273		$	9,225

Schedule of Intangibles, Net

Intangibles, net

	December 31, 2023										December 31, 2022
(In thousands)	Gross		Accumulated Amortization			Impairment			Net		Gross		Accumulated Amortization			Net
Technology	$	59,799	$	(58,906	)	$	(893	)	$	—	$	59,799	$	(58,692	)	$	1,107
Other		10,345		(10,167	)		(178	)		—		10,345		(10,123	)		222
Total	$	70,144	$	(69,073	)	$	(1,071	)	$	—	$	70,144	$	(68,815	)	$	1,329

Schedule of Goodwill

Goodwill

(In thousands)	Connected Home			NETGEAR for Business		Total
As of December 31, 2021	$	44,442		$	36,279	$	80,721
Goodwill impairment charge		(44,442	)		—		(44,442	)
As of December 31, 2022		—			36,279		36,279
As of December 31, 2023	$	—		$	36,279	$	36,279

Schedule of Other Non-Current Assets

Other non-current assets

(In thousands)	December 31, 2023		December 31, 2022
Non-current deferred income taxes	$	3,343	$	85,704
Long-term investments		8,367		7,879
Other		5,616		4,210
Total	$	17,326	$	97,793

Schedule of Changes in Carrying Value of Long-term Equity Investments

Long-term investments

The Company’s long-term investments are comprised of equity investments without readily determinable fair values, investments in convertible debt securities and investments in limited partnership funds. The changes in the carrying value of equity investments without readily determinable fair values were as follows (in thousands):

Carrying value, as of December 31, 2021 (1)	$	6,303
Impairment		(250	)
Carrying value, as of December 31, 2022 (1)		6,053
Carrying value, as of December 31, 2023	$	6,053

(1)The balances excluded the investment in limited partnership fund of $2.3 million, $1.7 million and $0.9 million, as of December 31, 2023, 2022 and 2021, respectively. Additionally, each of the balances as of December 31, 2022 and 2021 excluded an investment in convertible debt securities of $0.2 million.

Schedule of Other Accrued Liabilities

Other accrued liabilities

(In thousands)	December 31, 2023		December 31, 2022
Current operating lease liabilities	$	11,869	$	11,012
Sales and marketing		75,535		98,690
Warranty obligations		5,738		6,320
Sales returns(1)		34,824		44,944
Freight and duty		2,837		7,243
Other		37,281		45,267
Total	$	168,084	$	213,476

________________________

(1)Inventory expected to be received from future sales returns amounted to $16.9 million and $21.8 million as of December 31, 2023 and 2022, respectively. Provisions to write down expected returned inventory to net realizable value amounted to $9.7 million and $11.8 million as of December 31, 2023 and December 31, 2022, respectively.