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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 30, 2024
Apr. 01, 2023
Operating Activities    
Net income (loss) $ (56,526) $ 13,967
Adjustments to reconcile net income to net cash used in operating activities:    
Depreciation of property and equipment 6,634 6,235
Amortization of other intangible assets 6,079 6,510
Amortization of debt issuance costs 0 523
Stock-based compensation expense 13,612 16,638
Equity-method loss 0 1,033
Deferred income taxes (5,270) (2,670)
Changes in operating assets and liabilities:    
Accounts receivable (3,321) (16,257)
Inventories (3,958) (32,794)
Prepaid expenses and other assets (15,466) 11,530
Accounts payable (13,829) (12,966)
Other current liabilities and income taxes 1,554 (8,529)
Deferred revenue and returns liability 1,804 4,478
Other non-current liabilities (3,113) (978)
Net cash used in operating activities (71,800) (13,280)
Investing Activities    
Purchases of marketable securities (9,794) (66,113)
Sales of marketable securities 25,763 170,317
Maturities of marketable securities 55,188 157,734
Purchases of property and equipment (2,047) (7,657)
Proceeds from sale of equity investment 12,382 0
Net cash provided by investing activities 81,492 254,281
Financing Activities    
Payments on debt (45,000) 0
Repurchases of common stock 0 (17,608)
Payment of taxes withheld for vested stock awards (1,048) (6,931)
Proceeds from the issuance of common stock 341 0
Net cash used in financing activities (45,707) (24,539)
Increase (decrease) in cash and cash equivalents (36,015) 216,462
Cash and cash equivalents at beginning of period 227,504 499,915
Cash and cash equivalents at end of period $ 191,489 $ 716,377