Balance Sheet Components

12 Months Ended

Dec. 29, 2023

Inventory Disclosure [Abstract]

Balance Sheet Components

Balance Sheet Components

Accounts Receivable Allowance:

Changes in the Company’s allowance for credit losses for the years ended December 29, 2023 and December 30, 2022, and allowance for doubtful accounts for the year ended December 31, 2021, are as follows:

Allowance for doubtful accounts - December 25, 2020	$	2,353
Bad debt expense	801
Write-offs	(686)
Allowance for doubtful accounts - December 31, 2021	2,468
Bad debt expense	764
Write-offs	(961)
Allowance for credit losses - December 30, 2022	2,271
Bad debt expense	1,165
Write-offs	(1,177)
Allowance for credit losses - December 29, 2023	$	2,259

Inventories:

As of December 29, 2023 and December 30, 2022, the Company’s inventory consisted of the following:

	December 29, 2023		December 30, 2022
Finished goods	$	270,153	$	308,768
Raw materials	13,846		19,457
Work in process	276		500
Reserve for obsolete and slow-moving inventory	(15,482)		(14,137)
Total inventories	$	268,793	$	314,588

Changes in the Company’s reserve for obsolete and slow-moving inventory for the years ended December 29, 2023, December 30, 2022, and December 31, 2021 consisted of the following:

Inventory Reserve – December 25, 2020	$	10,450
Valuation adjustment	4,578
Write-offs	(4,450)
Inventory Reserve – December 31, 2021	10,578
Valuation adjustment	7,214
Write-offs	(3,655)
Inventory Reserve – December 30, 2022	14,137
Valuation adjustment	9,219
Write-offs	(7,874)
Inventory Reserve – December 29, 2023	$	15,482

Property and Equipment, Net:

Property and equipment, net, as of December 29, 2023 and December 30, 2022, consisted of the following:

	December 29, 2023		December 30, 2022
Equipment	$	20,474	$	17,554
Computers and software	29,181		25,965
Furniture and fixtures	5,801		4,524
Leasehold improvements	31,107		16,791
Construction in progress	9,089		12,010
Total property and equipment	95,652		76,844
Less: Accumulated depreciation	(50,092)		(41,886)
Property and equipment, net	$	45,560	$	34,958

Total depreciation expense for the years ended December 29, 2023, December 30, 2022, and December 31, 2021 was $11,536, $9,353, and $8,028, respectively.

Accrued Liabilities:

Accrued liabilities as of December 29, 2023 and December 30, 2022, consisted of the following:

	December 29, 2023		December 30, 2022
Deferred revenue	$	23,261	$	22,611
Payroll, vacation and bonus accruals	13,973		11,068
Warranty reserve	8,776		10,682
Customer rebate program	6,722		5,863
Sales return allowance	5,267		5,148
Incurred but not reported self-insurance	1,610		1,860
Interest payable	931		1,578
Taxes	568		944
Other accrued liabilities	1,523		4,851
Total accrued liabilities	$	62,631	$	64,605