XML 20 R8.htm IDEA: XBRL DOCUMENT v3.24.1.u1
Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Mar. 30, 2024
Mar. 25, 2023
Cash flows from operating activities:    
Net loss $ (53,919) $ (123,402)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:    
Depreciation and amortization 6,352 4,146
Foreign currency (gains) (8) (6)
(Gain) on investments (8,745) 0
Provision for excess and obsolete inventory 34,276 6,160
Loss on disposal of assets 0 123
Stock-based compensation 57,527 84,763
Changes in operating assets and liabilities:    
Accounts receivable (58,461) (121,137)
Inventories (17,920) (54,853)
Prepaid expenses and other current assets (77,529) 25,372
Deferred expenses (5,046) (7,729)
Other long-term assets (5,466) (5,483)
Accounts payable 39,910 19,718
Accrued expenses and other current liabilities (413) 34,583
Deferred revenue 69,694 263,464
Other long-term liabilities 10,670 6,645
Net cash provided by (used in) operating activities (9,078) 132,364
Cash flows from investing activities:    
Purchases of property and equipment (4,661) (13,007)
Capitalization of internal use software development costs (1,203) 0
Proceeds from maturities of marketable securities 290,000 0
Purchases of marketable securities (48,660) (203,140)
Net cash provided by (used in) investing activities 235,476 (216,147)
Cash flows from financing activities:    
Payment for taxes related to net share settlement of stock-based compensation awards (3,181) (11,713)
Net proceeds from issuance of common stock under employee stock purchase plan 3,435 987
Proceeds from issuance of Class A Common Stock 257,985 0
Proceeds from exercise of warrants 158,702 0
Net cash provided by (used in) financing activities 416,941 (10,726)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash (15) 138
Net increase (decrease) in cash, cash equivalents, and restricted cash 643,324 (94,371)
Cash, cash equivalents, and restricted cash — beginning of period 260,918 353,457
Cash, cash equivalents, and restricted cash — end of period 904,242 259,086
Non-cash activities:    
Operating lease right-of-use assets obtained in exchange for operating lease liabilities 5,818 0
Transfer of equipment from deferred cost to property and equipment $ 38,454 $ 0