Balance Sheet Components (Tables)

3 Months Ended

Dec. 30, 2023

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Summary of accounts receivable

Accounts receivable, net

Accounts receivable, net consist of the following:

	December 30, 2023			September 30, 2023
(In thousands)
Accounts receivable	$	146,245		$	99,369
Allowance for credit losses		(2,369	)		(2,711	)
Allowance for sales incentives		(63,065	)		(29,075	)
Accounts receivable, net of allowances	$	80,811		$	67,583

Schedule of Inventories

Inventories consist of the following:

	December 30, 2023		September 30, 2023
(In thousands)
Finished goods	$	113,354	$	281,571
Component parts		59,689		64,950
Inventories	$	173,043	$	346,521

Schedule of goodwill

The following table presents the changes in carrying amount of goodwill during the three months ended December 30, 2023:

(In thousands)
Balance as of September 30, 2023	$	80,420
Effect of exchange rate changes on goodwill		1,868
Balance as of December 30, 2023	$	82,288

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:

	December 30, 2023
	Gross Carrying Amount		Accumulated Amortization			Foreign Currency Translation		Net Carrying Value		Weighted-Average Remaining Life
(In thousands, except weighted-average remaining life)
Trade name	$	451	$	(131	)	$	7	$	327		4.25
Technology-based		31,480		(13,062	)		—		18,418		4.76
Total finite-lived intangible assets		31,931		(13,193	)		7		18,745		4.75
In-process research and development not subject to amortization		71,759		—			1,087		72,846
Total intangible assets	$	103,690	$	(13,193	)	$	1,094	$	91,591

The following table summarizes the estimated future amortization expense of the Company's intangible assets as of December 30, 2023:

Fiscal years ending	Future Amortization Expense
(In thousands)
Remainder of fiscal 2024	$	4,479
2025		3,372
2026		3,043
2027		3,027
2028		2,910
2029 and thereafter		1,914
Total future amortization expense	$	18,745

Summary of capitalized costs to implement cloud computing arrangements net of accumulated amortization

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 were as follows:

	December 30, 2023		September 30, 2023
Cloud computing implementation costs	$	24,177	$	24,177
Less: accumulated amortization		7,080		6,207
Cloud computing implementation costs, net	$	17,097	$	17,970

Schedule of Accrued expenses

Accrued expenses consisted of the following:

	December 30, 2023		September 30, 2023
(In thousands)
Accrued inventory and supply chain costs	$	33,555	$	48,384
Accrued taxes		28,364		11,410
Accrued advertising and marketing		18,240		13,029
Accrued general and administrative expenses		9,353		9,924
Other accrued payables		5,100		2,672
Accrued product development		3,380		4,298
Total accrued expenses	$	97,992	$	89,717

Changes in deferred balances and expected revenue recognition

The following table presents the changes in the Company’s deferred revenue:

	Three Months Ended
	December 30, 2023			December 31, 2022
(In thousands)
Deferred revenue, beginning of period	$	80,838		$	83,470
Recognition of revenue included in beginning of period deferred revenue		(4,023	)		(11,520	)
Revenue deferred, net of revenue recognized on contracts in the respective period		9,090			10,031
Deferred revenue, end of period	$	85,905		$	81,981

Remaining performance obligation

The Company expects the following recognition of deferred revenue as of December 30, 2023:

	For the fiscal years ending
	2024		2025		2026		2027		2028 and Beyond		Total
(In thousands)
Deferred revenue expected to be recognized	$	16,018	$	18,685	$	16,273	$	13,596	$	21,333	$	85,905

Schedule of other current liabilities

Other current liabilities consist of the following:

	December 30, 2023		September 30, 2023
(In thousands)
Reserve for returns	$	31,796	$	21,462
Other		10,378		4,172
Warranty liability		8,772		7,466
Short-term operating lease liabilities		1,737		1,153
Total other current liabilities	$	52,683	$	34,253

Schedule of product warranty liability

The following table presents the changes in the Company’s warranty liability:

	December 30, 2023			December 31, 2022
(In thousands)
Warranty liability, beginning of period	$	7,466		$	5,771
Provision for warranties issued during the period		5,582			6,177
Settlements of warranty claims during the period		(4,276	)		(2,031	)
Warranty liability, end of period	$	8,772		$	9,917