Balance Sheet Components (Tables)

6 Months Ended

Apr. 02, 2022

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Summary of accounts receivable

Accounts receivable, net of allowances, consist of the following:

	April 2, 2022			October 2, 2021
(In thousands)
Accounts receivable	$	128,989		$	121,486
Allowance for credit losses		(1,913	)		(1,547	)
Allowance for sales incentives		(15,688	)		(19,160	)
Accounts receivable, net of allowances	$	111,388		$	100,779

Schedule of inventories

Inventories, net, consist of the following:

	April 2, 2022		October 2, 2021
(In thousands)
Finished goods	$	208,476	$	154,608
Component parts		55,929		30,522
Inventories	$	264,405	$	185,130

Schedule of goodwill

The following table presents the changes in carrying amount of goodwill during the six months ended April 2, 2022:

(In thousands)
Balance as of October 2, 2021	$	15,545
Goodwill acquired		22,181
Balance as of April 2, 2022	$	37,726

Schedule of finite-lived intangible assets, future amortization expense

The following table reflects the changes in the net carrying amount of the components of intangible assets associated with the Company's acquisition activity:

	April 2, 2022
	Gross Carrying Amount		Accumulated Amortization			Net Carrying Value		Weighted-Average Remaining Life
(In thousands, except weighted-average remaining life)
Technology	$	13,931	$	(5,143	)	$	8,788		2.63
Total finite-lived intangible assets		13,931		(5,143	)		8,788		2.63
In-process research and development not subject to amortization		20,100		—			20,100
Total intangible assets	$	34,031	$	(5,143	)	$	28,888

The following table summarizes the estimated future amortization expense of the Company's intangible assets as of April 2, 2022:

Fiscal years ending	Future Amortization Expense
(In thousands)
Remainder of fiscal 2022	$	1,931
2023		3,237
2024		3,024
2025		423
2026		94
2027 and there after		79
Total future amortization expense	$	8,788

Schedule of accrued expenses

Accrued expenses consisted of the following:

	April 2, 2022		October 2, 2021
(In thousands)
Accrued advertising and marketing	$	13,751	$	19,989
Accrued taxes		13,710		16,941
Accrued inventory		25,971		37,117
Accrued manufacturing, logistics and product development		17,647		14,943
Accrued general and administrative expenses		20,010		13,066
Other accrued payables		9,255		5,973
Total accrued expenses	$	100,344	$	108,029

Changes in deferred balances and expected revenue recognition

The following table presents the changes in the Company’s deferred revenue for the six months ended April 2, 2022, and April 3, 2021:

	April 2, 2022			April 3, 2021
(In thousands)
Deferred revenue, beginning of period	$	89,498		$	62,389
Recognition of revenue included in beginning of period deferred revenue		(28,927	)		(7,883	)
Revenue deferred, net of revenue recognized on contracts in the respective period		16,063			16,383
Deferred revenue, end of period	$	76,634		$	70,889

Remaining performance obligation

The Company expects the following recognition of deferred revenue as of April 2, 2022:

	For the fiscal years ending
	2022		2023		2024		2025		2026 and Beyond		Total
(In thousands)
Deferred revenue expected to be recognized	$	9,750	$	16,859	$	14,809	$	12,498	$	22,718	$	76,634

Schedule of other current liabilities

Other current liabilities consist of the following:

	April 2, 2022		October 2, 2021
(In thousands)
Reserve for returns	$	18,839	$	19,266
Short-term operating lease liabilities		9,923		10,724
Product warranty liability		8,756		5,604
Other		4,066		3,950
Total other current liabilities	$	41,584	$	39,544

Schedule of product warranty liability

The following table presents the changes in the Company’s warranty liability for the six months ended April 2, 2022, and April 3, 2021:

	April 2, 2022			April 3, 2021
(In thousands)
Warranty liability, beginning of period	$	5,604		$	3,628
Provision for warranties issued during the period		7,082			8,844
Settlements of warranty claims during the period		(3,930	)		(7,616	)
Warranty liability, end of period	$	8,756		$	4,856