Segment Information (Tables)

6 Months Ended

Jun. 30, 2024

Segment Reporting [Abstract]

Schedule of Reportable Segments and Reconciliation of Segment Contribution Income (Loss) to Income (Loss) Before Income Taxes

Financial information for each reportable segment and a reconciliation of segment contribution income (loss) to loss before income taxes is as follows:

	Three Months Ended							Six Months Ended
(In thousands, except percentage data)	June 30, 2024			July 2, 2023				June 30, 2024			July 2, 2023
Net Revenue:
Connected Home	$	84,033		$	98,406			$	179,996		$	201,152
NETGEAR for Business		59,867			75,007				128,490			153,169
Total net revenue	$	143,900		$	173,413			$	308,486		$	354,321
Contribution Income (Loss):
Connected Home	$	(13,794	)	$	(5,373	)	*	$	(19,934	)	$	(7,129	)	*
Contribution margin		(16.4	)%		(5.5	)%	*		(11.1	)%		(3.5	)%	*
NETGEAR for Business	$	2,061		$	13,650		*	$	11,965		$	27,707		*
Contribution margin		3.4	%		18.2	%	*		9.3	%		18.1	%	*
Total segment contribution income	$	(11,733	)	$	8,277		*	$	(7,969	)	$	20,578		*
Corporate and unallocated costs		(19,350	)		(19,011	)	*		(39,156	)		(38,385	)	*
Amortization of intangibles		—			(128	)			—			(257	)
Stock-based compensation expense		(5,888	)		(4,687	)			(10,432	)		(9,352	)
Restructuring and other charges		(1,688	)		(2,229	)			(2,720	)		(2,337	)
Litigation reserves, net		(8,200	)		—				(8,230	)		—
Other income, net (1)		2,713			7,999				5,563			9,405
Loss before income taxes	$	(44,146	)	$	(9,779	)		$	(62,944	)	$	(20,348	)

(1)Amounts included gain/(loss), net from derivatives not designated as hedging instruments of $0.6 million and $2.1 million, for the three and six months ended June 30, 2024, respectively, and $1.0 million and $0.9 million, for the three and six months ended July 2, 2023, respectively, and gain/(loss), net from litigation settlements of $6.0 million for the three and six months ended July 2, 2023, respectively.

* Financial information for each reportable segment in the prior year periods were recast to conform to the current reportable segment structure.

Schedule of Net Revenue by Geography

The following table shows net revenue by geography:

	Three Months Ended				Six Months Ended
(In thousands)	June 30, 2024		July 2, 2023		June 30, 2024		July 2, 2023
United States (U.S.)	$	92,794	$	112,961	$	200,083	$	230,759
Americas (excluding U.S.)		2,709		3,650		5,348		7,774
EMEA (1)		27,355		36,161		58,542		75,339
APAC (1)		21,042		20,641		44,513		40,449
Total net revenue	$	143,900	$	173,413	$	308,486	$	354,321

(1)No individual foreign country represented more than 10% of the Company’s total net revenue in the periods presented.

Schedule of Long-Lived Asset By Geographic Region

The following table presents the Company’s long-lived assets located in geographic areas, which consist of property and equipment, net, and operating lease right-of-use assets:

(In thousands)	June 30, 2024		December 31, 2023
United States (U.S.)	$	22,079	$	25,051
Canada		5,496		4,714
Americas (excluding U.S. and Canada)		52		68
EMEA		3,425		3,739
Singapore		5,648		6,218
APAC (excluding Singapore) (1)		7,735		5,768
Total	$	44,435	$	45,558

(1)No individual country represented more than 10% of the Company’s total long-lived assets in the periods presented.