NETGEAR (NTGR) 10-Q 2 Aug 24 2024 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Jun. 30, 2024	Jul. 26, 2024
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2024
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q2
Trading Symbol	NTGR
Entity Registrant Name	NETGEAR, Inc.
Entity Current Reporting Status	Yes
Entity Central Index Key	0001122904
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Smaller Reporting Company	false
Entity Shell Company	false
Entity Emerging Growth Company	false
Entity Tax Identification Number	77-0419172
Entity File Number	000-50350
Entity Incorporation, State or Country Code	DE
Entity Address, Address Line One	350 East Plumeria Drive
Entity Address, City or Town	San Jose
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	95134
City Area Code	(408)
Local Phone Number	907-8000
Security Exchange Name	NASDAQ
Title of 12(b) Security	Common Stock, $0.001 par value
Document Quarterly Report	true
Document Transition Report	false
Entity Interactive Data Current	Yes
Entity Common Stock, Shares Outstanding (In shares)		28,678,721

Unaudited Condensed Consolidate

Unaudited Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 177,104	$ 176,717
Short-term investments	117,235	106,931
Accounts receivable, net of allowance for doubtful accounts of $417 and $338 as of June 30, 2024 and December 31, 2023, respectively	147,069	185,059
Inventories	188,936	248,851
Prepaid expenses and other current assets	27,228	30,421
Total current assets	657,572	747,979
Property and equipment, net	11,041	8,273
Operating lease right-of-use assets	33,394	37,285
Goodwill	36,279	36,279
Other non-current assets	15,800	17,326
Total assets	754,086	847,142
Current liabilities:
Accounts payable	40,129	46,850
Accrued employee compensation	23,966	21,286
Other accrued liabilities	159,586	168,084
Deferred revenue	28,682	27,091
Income taxes payable	665	1,037
Total current liabilities	253,028	264,348
Non-current income taxes payable	8,076	12,695
Non-current operating lease liabilities	24,748	29,698
Other non-current liabilities	8,835	4,906
Total liabilities	294,687	311,647
Commitments and contingencies (Note 8)
Stockholders’ equity:
Common stock	29	30
Additional paid-in capital	980,069	967,651
Accumulated other comprehensive income (loss)	(104)	136
Accumulated deficit	(520,595)	(432,322)
Total stockholders’ equity	459,399	535,495
Total liabilities and stockholders’ equity	$ 754,086	$ 847,142

Unaudited Condensed Consolida_2

Unaudited Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Accounts receivable, net of allowance for doubtful accounts of $417 and $338 as of June 30, 2024 and December 31, 2023, respectively	$ 417	$ 338

Unaudited Condensed Consolida_3

Unaudited Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2024	Jul. 02, 2023	Jun. 30, 2024	Jul. 02, 2023
Income Statement [Abstract]
Net revenue	[1]	$ 143,900	$ 173,413	$ 308,486	$ 354,321
Cost of revenue		112,077	119,113	228,426	239,639
Gross profit		31,823	54,300	80,060	114,682
Operating expenses:
Research and development		19,851	20,831	40,078	42,965
Sales and marketing		29,757	32,482	60,286	66,361
General and administrative		19,186	16,536	37,253	32,772
Litigation reserves, net		8,200	0	8,230	0
Restructuring and other charges		1,688	2,229	2,720	2,337
Total operating expenses		78,682	72,078	148,567	144,435
Loss from operations		(46,859)	(17,778)	(68,507)	(29,753)
Other income, net	[2]	2,713	7,999	5,563	9,405
Loss before income taxes		(44,146)	(9,779)	(62,944)	(20,348)
Provision for (benefit from) income taxes		1,029	(1,192)	881	(2,049)
Net loss		$ (45,175)	$ (8,587)	$ (63,825)	$ (18,299)
Net loss per share
Basic		$ (1.56)	$ (0.29)	$ (2.19)	$ (0.63)
Diluted		$ (1.56)	$ (0.29)	$ (2.19)	$ (0.63)
Weighted average shares used to compute net loss per share:
Basic		28,883	29,319	29,136	29,170
Diluted		28,883	29,319	29,136	29,170
[1] No i ndividual foreign country represented more than 10 % of the Company ’ s total net revenue in the periods presented. (1) Amounts included gain/(loss), net from derivatives not designated as hedging instruments of $ 0.6 million and $ 2.1 million, for the three and six months ended June 30, 2024, respectively, and $ 1.0 million and $ 0.9 million, for the three and six months ended July 2, 2023, respectively, and gain/(loss), net from litigation settlements of $ 6.0 million for the three and six months ended July 2, 2023, respectively .

Unaudited Condensed Consolida_4

Unaudited Condensed Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jul. 02, 2023	Jun. 30, 2024	Jul. 02, 2023
Statement of Comprehensive Income [Abstract]
Net loss	$ (45,175)	$ (8,587)	$ (63,825)	$ (18,299)
Other comprehensive income (loss), before tax:
Change in unrealized gains and losses on derivatives	(82)	109	(24)	574
Change in unrealized gains and losses on available-for-sale investments	(53)	(50)	(219)	191
Other comprehensive income (loss), before tax	(135)	59	(243)	765
Tax benefit (provision) related to derivatives	10	(12)	3	(71)
Tax provision related to available-for-sale investments	0	12	0	(47)
Other comprehensive income (loss), net of tax	(125)	59	(240)	647
Comprehensive loss	$ (45,300)	$ (8,528)	$ (64,065)	$ (17,652)

Unaudited Condensed Consolida_5

Unaudited Condensed Consolidated Statements of Stockholder's Equity - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-In Capital	Accumulated Other Comprehensive Income (Loss)	Accumulated Deficit
Beginning balance at Dec. 31, 2022	$ 620,855	$ 29	$ 946,123	$ (535)	$ (324,762)
Beginning balance (in shares) at Dec. 31, 2022		28,908,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Change in unrealized gains and losses on available-for-sale investments, net of tax	182			182
Change in unrealized gains and losses on derivatives, net of tax	406			406
Net loss	(9,712)				(9,712)
Stock-based compensation	4,665		4,665
Restricted stock unit withholdings	(120)				(120)
Restricted stock unit withholdings (in shares)		(6,000)
Issuance of common stock under stock-based compensation plans	2,286		2,286
Issuance of common stock under stock-based compensation plans (in shares)		154,000
Ending balance at Apr. 02, 2023	618,562	$ 29	953,074	53	(334,594)
Ending balance (in shares) at Apr. 02, 2023		29,056,000
Beginning balance at Dec. 31, 2022	620,855	$ 29	946,123	(535)	(324,762)
Beginning balance (in shares) at Dec. 31, 2022		28,908,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	$ (18,299)
Restricted stock unit withholdings (in shares)	(147,000)
Ending balance at Jul. 02, 2023	$ 612,736	$ 29	957,761	112	(345,166)
Ending balance (in shares) at Jul. 02, 2023		29,400,000
Beginning balance at Apr. 02, 2023	618,562	$ 29	953,074	53	(334,594)
Beginning balance (in shares) at Apr. 02, 2023		29,056,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Change in unrealized gains and losses on available-for-sale investments, net of tax	(38)			(38)
Change in unrealized gains and losses on derivatives, net of tax	97			97
Net loss	(8,587)				(8,587)
Stock-based compensation	4,687		4,687
Restricted stock unit withholdings	(1,985)				(1,985)
Restricted stock unit withholdings (in shares)		(141,000)
Issuance of common stock under stock-based compensation plans (in shares)		485,000
Ending balance at Jul. 02, 2023	612,736	$ 29	957,761	112	(345,166)
Ending balance (in shares) at Jul. 02, 2023		29,400,000
Beginning balance at Dec. 31, 2023	535,495	$ 30	967,651	136	(432,322)
Beginning balance (in shares) at Dec. 31, 2023		29,616,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Change in unrealized gains and losses on available-for-sale investments, net of tax	(166)			(166)
Change in unrealized gains and losses on derivatives, net of tax	51			51
Net loss	(18,650)				(18,650)
Stock-based compensation	4,544		4,544
Repurchase of common stock	(11,444)	$ (1)			(11,443)
Repurchase of common stock (in shares)		(783,000)
Restricted stock unit withholdings	(454)				(454)
Restricted stock unit withholdings (in shares)		(32,000)
Issuance of common stock under stock-based compensation plans	1,986		1,986
Issuance of common stock under stock-based compensation plans (in shares)		270,000
Ending balance at Mar. 31, 2024	511,362	$ 29	974,181	21	(462,869)
Ending balance (in shares) at Mar. 31, 2024		29,071,000
Beginning balance at Dec. 31, 2023	535,495	$ 30	967,651	136	(432,322)
Beginning balance (in shares) at Dec. 31, 2023		29,616,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(63,825)
Repurchase of common stock	$ (21,400)
Repurchase of common stock (in shares)	(1,600,000)
Restricted stock unit withholdings (in shares)	(197,000)
Ending balance at Jun. 30, 2024	$ 459,399	$ 29	980,069	(104)	(520,595)
Ending balance (in shares) at Jun. 30, 2024		28,679,000
Beginning balance at Mar. 31, 2024	511,362	$ 29	974,181	21	(462,869)
Beginning balance (in shares) at Mar. 31, 2024		29,071,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Change in unrealized gains and losses on available-for-sale investments, net of tax	(53)			(53)
Change in unrealized gains and losses on derivatives, net of tax	(72)			(72)
Net loss	(45,175)				(45,175)
Stock-based compensation	5,888		5,888
Repurchase of common stock	(10,121)	$ (1)			(10,120)
Repurchase of common stock (in shares)		(800,000)
Restricted stock unit withholdings	(2,431)				(2,431)
Restricted stock unit withholdings (in shares)		(165,000)
Issuance of common stock under stock-based compensation plans	1	$ 1
Issuance of common stock under stock-based compensation plans (in shares)		573,000
Ending balance at Jun. 30, 2024	$ 459,399	$ 29	$ 980,069	$ (104)	$ (520,595)
Ending balance (in shares) at Jun. 30, 2024		28,679,000

Unaudited Condensed Consolida_6

Unaudited Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jul. 02, 2023
Cash flows from operating activities:
Net loss	$ (63,825)	$ (18,299)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation and amortization	3,048	3,866
Stock-based compensation	10,432	9,352
Gain on investments, net	(1,985)	(1,464)
Deferred income taxes	542	(7,839)
Provision for excess and obsolete inventory	2,954	1,531
Changes in assets and liabilities:
Accounts receivable, net	37,991	97,989
Inventories	56,961	(26,401)
Prepaid expenses and other assets	3,866	962
Accounts payable	(6,620)	(49,747)
Accrued employee compensation	2,680	(1,870)
Other accrued liabilities	(7,641)	(37,200)
Deferred revenue	2,222	2,664
Income taxes payable	(4,990)	988
Net cash provided by (used in) operating activities	35,635	(25,468)
Cash flows from investing activities:
Purchases of short-term investments	(67,998)	(68,042)
Proceeds from maturities of short-term investments	60,000	55,006
Purchases of property and equipment	(4,817)	(1,599)
Purchases of long-term investments	(90)	(225)
Net cash used in investing activities	(12,905)	(14,860)
Cash flows from financing activities:
Repurchases of common stock	(21,444)	0
Restricted stock unit withholdings	(2,885)	(2,105)
Proceeds from issuance of common stock under employee stock purchase plan	1,986	2,286
Net cash provided by (used in) financing activities	(22,343)	181
Net increase (decrease) in cash and cash equivalents	387	(40,147)
Cash and cash equivalents, at beginning of period	176,717	146,500
Cash and cash equivalents, at end of period	177,104	106,353
Non-cash investing and financing activities:
Unpaid property and equipment	$ 1,630	$ 1,031

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jul. 02, 2023	Apr. 02, 2023	Jun. 30, 2024	Jul. 02, 2023
Pay vs Performance Disclosure
Net Income (Loss)	$ (45,175)	$ (18,650)	$ (8,587)	$ (9,712)	$ (63,825)	$ (18,299)

The Company and Basis of Presen

The Company and Basis of Presentation	6 Months Ended
	Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
The Company and Basis of Presentation	Note 1. The Company and Basis of Presentation NETGEAR, Inc. (“NETGEAR” or the “Company”) is a global company, incorporated in Delaware in January 1996. The Company turns ideas into innovative, high-performance and premium networking products that connect people, power businesses and advance the way we live. The Company is dedicated to delivering innovative and highly differentiated connected solutions ranging from easy-to-use premium WiFi solutions, security and support services to protect and enhance home networks, to switching and wireless solutions to augment business networks and audio and video over Ethernet for Pro AV applications. Its products and services are built on a variety of technologies such as wireless (WiFi and 4G/5G mobile), Ethernet and powerline, with a focus on reliability and ease-of-use. Additionally, the Company continually invests in research and development to create new technologies and services and to capitalize on technological inflection points and trends, such as WiFi 7, audio and video over Ethernet, and future technologies. Its product line consists of devices that create and extend wired and wireless networks, as well as services that complement and enhance the Company’s product line offerings. These products are available in multiple configurations to address the changing needs of the Company’s customers in each geographic region. The Company sells networking products through multiple sales channels worldwide, including traditional retailers, online retailers, wholesale distributors, direct market resellers (“DMRs”), value-added resellers (“VARs”), broadband service providers and its direct online store at www.netgear.com . The accompanying unaudited condensed consolidated financial statements include the accounts of NETGEAR, Inc. and its wholly owned subsidiaries. They have been prepared in accordance with established guidelines for interim financial reporting and the instructions of Form 10-Q and Article 10 of Regulation S-X. All significant intercompany balances and transactions have been eliminated in consolidation. The balance sheet dated December 31, 2023, has been derived from audited financial statements at such date. These unaudited condensed consolidated financial statements do not include all of the information and footnotes typically found in the audited consolidated financial statements and footnotes thereto included in the Annual Report on Form 10-K. In the opinion of management, the unaudited condensed consolidated financial statements reflect all normal recurring adjustments considered necessary to fairly state the Company's financial position, results of operations, comprehensive income (loss), stockholder's equity and cash flows for the periods indicated. These unaudited condensed consolidated financial statements should be read in conjunction with the notes to the audited consolidated financial statements included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2023 (the “Annual Report”). The Company's fiscal year begins on January 1 of the year stated and ends on December 31 of the same year. The Company reports its results on a fiscal quarter basis rather than on a calendar quarter basis. Under the fiscal quarter basis, each of the first three fiscal quarters ends on the Sunday closest to the calendar quarter end, with the fourth quarter ending on December 31. The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect (i) the reported amounts of assets and liabilities, (ii) the disclosure of contingent assets and liabilities at the date of the financial statements, and (iii) the reported amounts of net revenue and expenses during the reported period. The Company bases these estimates on historical and anticipated results, trends and various other assumptions that it believes are reasonable under the circumstances. As of the date of issuance of these condensed consolidated financial statements, the Company is not aware of any specific event or circumstance that would require it to update its estimates, judgments or revise the carrying value of its assets or liabilities. These estimates may change, as new events occur and additional information is obtained, and are recognized in the condensed consolidated financial statements as soon as they become known. Actual results could differ materially from those estimates and operating results for the three and six months ended June 30, 2024 are not necessarily indicative of the results that may be expected for the year ending December 31, 2024, or any future period. Segment Recast In the first fiscal quarter of 2024, resulting from certain segment structure changes, the Company revised its allocation method by allocating certain historically unallocated operating expenses to its individual operating segments. This change impacted Note 11, Segment Information . The prior-year segment financial information has been recast to conform to the current-year presentation. None of the changes impact previously reported consolidated net revenue, income (loss) from operations, net income (loss) per share, total assets, or stockholders’ equity.

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2024
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Note 2. Summary of Signif icant Accounting Policies No material changes have been made to the Company’s significant accounting policies disclosed in Note 1, The Company and Summary of Significant Accounting Policies , in Part II, Item 8 “Financial Statements and Supplementary Data” in its Annual Report. Recent Accounting Pronouncements In November 2023, the FASB issued ASU 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures”, which improves reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. ASU 2023-07 is effective for the Company for the year ended 2024 and early adoption is permitted. Upon adoption, the guidance should be applied retrospectively to all prior periods presented in the financial statements. The Company does not expect that the guidance will have material impacts on its financial position, results of operations or cash flows. The Company is evaluating the impact that the updated standard will have on its financial statement disclosures. In December 2023, the FASB issued ASU 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures”, which will require the Company to disclose specified additional information in its income tax rate reconciliation and provide additional information for reconciling items that meet a quantitative threshold. ASU 2023-09 will also require the Company to disaggregate its income taxes paid disclosure by federal, state and foreign taxes, with further disaggregation required for significant individual jurisdictions. ASU 2023-09 is effective for the Company for the year ended December 31, 2025 and early adoption is permitted. The guidance allows for adoption using either a prospective or retrospective transition method. The Company is evaluating the impact that the updated standard will have on its financial statement disclosures. With the exception of the new standards discussed above, there have been no other new accounting pronouncements that have significance, or potential significance, to the Company’s financial position, results of operations and cash flows.

Revenue

Revenue	6 Months Ended
	Jun. 30, 2024
Revenue from Contract with Customer [Abstract]
Revenue	Note 3. Rev enue Revenue from contracts with customers is recognized when control of the promised goods or services is transferred to the customers, in an amount that reflects the consideration the Company expects to be entitled to in exchange for those goods or services. Transaction Price Allocated to the Remaining Performance Obligations Remaining performance obligations represent the transaction price allocated to performance obligations that are unsatisfied or partially unsatisfied as of the end of the reporting period. Unsatisfied and partially unsatisfied performance obligations consist of contract liabilities, in-transit orders with destination terms, and non-cancellable backlog. Non-cancellable backlog includes goods for which customer purchase orders have been accepted, that are scheduled or in the process of being scheduled for shipment, and that are not yet invoiced. The following table summarizes estimated revenue expected to be recognized in the future related to performance obligations that were unsatisfied (or partially unsatisfied) as of June 30, 2024 : (In thousands) Less than 1 year 1 to 2 years Beyond 2 years Total Performance obligations $ 63,534 $ 3,084 $ 2,589 $ 69,207 Contract Balances The Company records accounts receivable when it has an unconditional right to consideration. Contract liabilities are recorded when cash payments are received or due in advance of performance. Contract liabilities consist of advance payments and deferred revenue, where the Company has unsatisfied performance obligations. Contract liabilities are mainly classified as Deferred revenue on the unaudited condensed consolidated balance sheets. Payment terms vary by customer. The time between invoicing and when payment is due is not significant. For certain products or services and customer types, payment is required before the products or services are delivered to the customer. The following table reflects the contract balances: (In thousands) Balance Sheet Location June 30, 2024 December 31, 2023 Accounts receivable, net Accounts receivable, net $ 147,069 $ 185,059 Contract liabilities – current Deferred revenue $ 28,682 $ 27,091 Contract liabilities – non-current Other non-current liabilities $ 5,534 $ 4,903 The difference in the balances of the Company’s contract assets and liabilities as of June 30, 2024 and December 31, 2023, primarily results from the timing difference between the Company’s performance and the customer’s payment. During the six months ended June 30, 2024 , $ 24.9 million of revenue was deferred primarily due to unsatisfied performance obligations for service contracts, $ 22.7 million of revenue was recognized for the satisfaction of performance obligations and $ 18.1 million of this recognized revenue was included in the contract liability balance at the beginning of the period. There were no significant changes in estimates during the period that would affect the contract balances. Disaggregation of Revenue In the following tables, net revenue is disaggregated by geographic region and sales channel. The Company conducts business across three geographic regions: Americas; Europe, Middle East and Africa (“EMEA”); and Asia Pacific (“APAC”). The tables also include reconciliations of the disaggregated revenue by reportable segment. The Company operates and reports in two segments: Connected Home and NETGEAR for Business (formerly known as Small and Medium Business, or SMB). Sales and usage-based taxes are excluded from n et revenue. Three Months Ended June 30, 2024 July 2, 2023 (In thousands) Connected NETGEAR for Business Total Connected NETGEAR for Business Total Geographic regions (1) : Americas $ 66,282 $ 29,221 $ 95,503 $ 77,683 $ 38,928 $ 116,611 EMEA 8,958 18,397 27,355 11,317 24,844 36,161 APAC 8,793 12,249 21,042 9,406 11,235 20,641 Total $ 84,033 $ 59,867 $ 143,900 $ 98,406 $ 75,007 $ 173,413 Sales channels: Service provider $ 19,732 $ 202 $ 19,934 $ 24,916 $ 18 $ 24,934 Non-service provider 64,301 59,665 123,966 73,490 74,989 148,479 Total $ 84,033 $ 59,867 $ 143,900 $ 98,406 $ 75,007 $ 173,413 Six Months Ended June 30, 2024 July 2, 2023 (In thousands) Connected NETGEAR for Business Total Connected NETGEAR for Business Total Geographic regions (1) : Americas $ 144,277 $ 61,154 $ 205,431 $ 161,684 $ 76,849 $ 238,533 EMEA 16,968 41,574 58,542 23,381 51,958 75,339 APAC 18,751 25,762 44,513 16,087 24,362 40,449 Total $ 179,996 $ 128,490 $ 308,486 $ 201,152 $ 153,169 $ 354,321 Sales channels: Service provider $ 47,285 $ 445 $ 47,730 $ 38,943 $ 208 $ 39,151 Non-service provider 132,711 128,045 260,756 162,209 152,961 315,170 Total $ 179,996 $ 128,490 $ 308,486 $ 201,152 $ 153,169 $ 354,321 (1) No i ndividual foreign country represented more than 10 % of the Company ’ s total net revenue in the periods presented.

Balance Sheet Components

Balance Sheet Components	6 Months Ended
	Jun. 30, 2024
Balance Sheet Related Disclosures [Abstract]
Balance Sheet Components	Note 4. Balance Sheet Components Available-for-sale investments Amortized cost and estimated fair market value of investments classified as available-for-sale, excluding cash equivalents, as of June 30, 2024 and December 31, 2023, were as follows: June 30, 2024 (In thousands) Amortized Cost Unrealized Unrealized Estimated U.S. treasury securities $ 108,341 $ — $ ( 91 ) $ 108,250 Corporate equity securities 262 — — 262 Total $ 108,603 $ — $ ( 91 ) $ 108,512 December 31, 2023 (In thousands) Amortized Cost Unrealized Unrealized Estimated U.S. treasury securities $ 98,326 $ 128 $ — $ 98,454 Convertible debt 173 — — 173 Total $ 98,499 $ 128 $ — $ 98,627 The contractual maturities on the U.S. treasury securities as of June 30, 2024 are all due within one year. Accrued interest receivable as of June 30, 2024 was $ 0.5 million and was recorded within Prepaid expenses and other current assets on the unaudited condensed consolidated balance sheet. The following table summarizes investments classified as available-for-sale in a continuous unrealized loss position for which an allowance for credit losses was not recorded as of June 30, 2024 and December 31, 2023: June 30, 2024 Less Than 12 Months 12 Months or Longer Total (In thousands) Estimated Fair Market Value Gross Unrealized Losses Estimated Fair Market Value Gross Unrealized Losses Estimated Fair Market Value Gross Unrealized Losses U.S. treasury securities $ 108,250 $ ( 91 ) $ — $ — $ 108,250 $ ( 91 ) Total $ 108,250 $ ( 91 ) $ — $ — $ 108,250 $ ( 91 ) December 31, 2023 Less Than 12 Months 12 Months or Longer Total (In thousands) Estimated Fair Market Value Gross Unrealized Losses Estimated Fair Market Value Gross Unrealized Losses Estimated Fair Market Value Gross Unrealized Losses U.S. treasury securities $ 98,454 $ — $ — $ — $ 98,454 $ — Total $ 98,454 $ — $ — $ — $ 98,454 $ — In the three and six months ended June 30, 2024 and July 2, 2023 , no unrealized losses on available-for-sale securities were recognized in income. The Company does not intend to sell, and it is unlikely that it will be required to sell the investments in an unrealized loss position prior to their anticipated recovery. The investments are high-quality U.S. treasury securities and the decline in fair value is largely due to changes in interest rates and other market conditions with the fair value expected to recover as they reach maturity. There were no other-than-temporary impairments for these securities during the three and six months ended June 30, 2024 and July 2, 2023. Refer to Note 12, Fair Value Measurements, for detailed disclosures regarding fair value measurements. Inventories (In thousands) June 30, 2024 December 31, 2023 Raw materials $ 21,748 $ 19,955 Finished goods 167,188 228,896 Total $ 188,936 $ 248,851 The Company records provisions for excess and obsolete inventory based on assumptions about future demand and market conditions and the amounts incurred were $ 1.9 million and $ 3.0 million for the three and six months ended June 30, 2024, respectively, and $ 0.4 million and $ 1.5 million for the three and six months ended July 2, 2023, respectively. While management believes the estimates and assumptions underlying its current forecasts are reasonable, there is risk that additional charges may be necessary if current forecasts are greater than actual demand. Property and equipment, net (In thousands) June 30, 2024 December 31, 2023 Machinery and equipment $ 51,497 $ 47,826 Furniture, fixtures, and leasehold improvements 19,641 18,205 Software 24,337 25,760 Computer equipment 5,336 5,458 Total property and equipment, gross 100,811 97,249 Accumulated depreciation ( 89,770 ) ( 88,976 ) Total $ 11,041 $ 8,273 Other non-current assets (In thousands) June 30, 2024 December 31, 2023 Non-current deferred income taxes $ 2,801 $ 3,343 Long-term investments 8,336 8,367 Other 4,663 5,616 Total $ 15,800 $ 17,326 Long-term equity investments The Company’s long-term investments are comprised of equity investments without readily determinable fair values, investments in convertible debt securities or corporate equity securities and investments in limited partnership funds. The changes in the carrying value of equity investments without readily determinable fair values were as follows: Six months ended (In thousands) June 30, 2024 July 2, 2023 Carrying value as of the beginning of the period (1) $ 6,053 $ 6,053 Carrying value as of the end of the period (1) $ 6,053 $ 6,053 (1) The balances excluded an investment in limited partnership funds of $ 2.3 million as of June 30, 2024 , $ 1.8 million as of July 2, 2023 , $ 2.3 million as of December 31, 2023, and $ 1.7 million as of December 31, 2022. Additionally, the balance excluded an investment in corporate equity securities of $ 0.3 million as of June 30, 2024 , an investment in convertible debt securities of $ 0.2 million as of December 31, 2023, July 2, 2023 , and December 31, 2022, respectively. For such equity investments without readily determinable fair values still held on June 30, 2024 , there were no cumulative downward adjustments for price changes and impairment and the cumulative upward adjustments for price changes was $ 0.3 million. Other accrued liabilities (In thousands) June 30, 2024 December 31, 2023 Current operating lease liabilities $ 11,927 $ 11,869 Sales and marketing 59,912 75,535 Warranty obligations 4,771 5,738 Sales returns (1) 31,478 34,824 Freight and duty 3,921 2,837 Other 47,577 37,281 Total $ 159,586 $ 168,084 (1) Inventory expected to be received from future sales returns amounted to $ 15.5 million and $ 16.9 million as of June 30, 2024 and December 31, 2023, respectively. Provisions to write down expected returned inventory to net realizable value amounted to $ 8.9 million and $ 9.7 million as of June 30, 2024 and December 31, 2023 , respectively.

Derivative Financial Instrument

Derivative Financial Instruments	6 Months Ended
	Jun. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Financial Instruments	Note 5. Derivative F inancial Instruments The Company’s subsidiaries have material future cash flows related to revenue and expenses denominated in currencies other than the U.S. dollar, the Company’s functional currency worldwide. The Company executes currency forward contracts that typically mature in less than six months to mitigate its currency risk, in currencies including Australian dollars, British pounds, euros, Canadian dollars, and Japanese yen. The Company does not enter into derivatives transactions for trading or speculative purposes. The Company’s foreign currency forward contracts do not contain any credit-risk-related contingent features. The Company enters into derivative contracts with high-quality financial institutions and limits the amount of credit exposure to any individual counterparty. The Company typically executes ten cash flow hedges per quarter with maturities under six months and with an average USD notional amount of approximately $ 5.0 million that are designated as cash flow hedges. The Company enters into non-designated hedges that are generally expected to offset the changes in value of its net non-functional currency asset and liability position resulting from foreign exchange rate fluctuations. The Company adjusts its non-designated hedges monthly and typically executes about seven non-designated forwards per quarter with maturities less than three months and an average USD notional amount of approximately $ 3.0 million. Fair Value of Derivative Instruments The fair values of the Company’s derivative instruments and the line items on the unaudited condensed consolidated balance sheets to which they were recorded were summarized as follows: Balance Sheet Balance Sheet (In thousands) Location June 30, December 31, Location June 30, December 31, Derivatives not designated as hedging instruments Prepaid expenses and other current assets $ 228 $ 284 Other accrued liabilities $ 183 $ 1,672 Derivatives designated as hedging instruments Prepaid expenses and other current assets 7 7 Other accrued liabilities 30 19 Total $ 235 $ 291 $ 213 $ 1,691 Refer to Note 12, Fair Value Measurements for detailed disclosures regarding fair value measurements. Refer to Note 9, Stockholders ’ Equity , for details on the accumulated other comprehensive income (loss) activity related to derivatives and refer to Note 11, Segment Information , for details on gain/(loss), net pertaining to derivatives not designated as hedging instruments that were recognized in Other income (expenses), net.

Net Income (Loss) Per Share

Net Income (Loss) Per Share	6 Months Ended
	Jun. 30, 2024
Earnings Per Share [Abstract]
Net Income (Loss) Per Share	Note 6. Net I ncome (Loss) Per Share Basic net income (loss) per share is computed by dividing the net income (loss) for the period by the weighted average number of common shares outstanding during the period. Diluted net income (loss) per share is computed by dividing the net income (loss) for the period by the weighted average number of shares of common stock and potentially dilutive common stock outstanding during the period. Potentially dilutive common shares include common shares issuable upon exercise of stock options, vesting of Restricted Stock Units (“RSUs”) and performance shares, and issuances of shares under the Employee Stock Purchase Plan (the “ESPP”), which are reflected in diluted net income (loss) per share by application of the treasury stock method. Potentially dilutive common shares are excluded from the computation of diluted net income (loss) per share when their effect is anti-dilutive. Net income (loss) per share consisted of the following: Three Months Ended Six Months Ended (In thousands, except per share data) June 30, 2024 July 2, 2023 June 30, 2024 July 2, 2023 Numerator: Net loss $ ( 45,175 ) $ ( 8,587 ) $ ( 63,825 ) $ ( 18,299 ) Denominator: Weighted average common shares – basic 28,883 29,319 29,136 29,170 Weighted average common shares – dilutive 28,883 29,319 29,136 29,170 Basic net income (loss) per share $ ( 1.56 ) $ ( 0.29 ) $ ( 2.19 ) $ ( 0.63 ) Diluted net income (loss) per share $ ( 1.56 ) $ ( 0.29 ) $ ( 2.19 ) $ ( 0.63 ) Anti-dilutive employee stock-based awards, excluded 2,060 2,404 1,968 2,222

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Note 7. In come Taxes The income tax provision for the three and six months ended June 30, 2024 was $ 1.0 million, or an effective tax rate of ( 2.3 )%, and $ 0.9 million, or an effective tax rate of ( 1.4 )%, respectively. The income tax benefit for the three and six months ended July 2, 2023 was $ 1.2 million, or an effective tax rate of 12.2 %, and $ 2.0 million, or an effective tax rate of 10.1 %, respectively. The changes in taxes for the three and six months ended June 30, 2024, compared to the prior year period, were primarily due to the continued full valuation allowance on deferred tax assets for U.S. federal and state purposes that was established during the three months ended October 1, 2023. The Company evaluated the current results as of the period ended June 30, 2024, coupled with the expectations for the remainder of the year, and determined that it continues to not be more likely than not that the deferred tax assets would be realized, and accordingly, has recorded no benefit for the forecasted tax loss for the three and six months ended June 30, 2024. By comparison, for the three and six months ended July 2, 2023, tax benefits were recorded on the pre-tax loss since the valuation allowance on deferred tax assets had not yet been established . The Company is subject to income taxes in the U.S. and numerous foreign jurisdictions. The future foreign tax rate could be affected by changes in the composition in earnings in countries with tax rates differing from the U.S. federal rate. The Company is under examination in various U.S. and foreign jurisdictions. The Company files income tax returns in the U.S. federal jurisdiction as well as various state, local, and foreign jurisdictions. Due to the uncertain nature of ongoing tax audits, the Company has recorded its liability for uncertain tax positions as part of its long-term liability as payments cannot be anticipated over the next twelve months. The existing tax positions of the Company continue to generate an increase in the liability for uncertain tax positions. The liability for uncertain tax positions may be reduced for liabilities that are settled with taxing authorities or on which the statute of limitations could expire without assessment from tax authorities. The possible reduction in liabilities for uncertain tax positions in multiple jurisdictions in the next twelve months is approximately $ 0.7 million excluding the interest, penalties and the effect of any related deferred tax assets or liabilities. The Company is currently under examination in various U.S. and foreign jurisdictions. The Company accounts for income taxes under an asset and liability approach. Under this method, income tax expense is recognized for the amount of taxes payable or refundable for the current year. In addition, deferred tax assets and liabilities are recognized for the expected future tax consequences of temporary differences resulting from different treatment for tax versus accounting for certain items, such as accruals and allowances not currently deductible for tax purposes. The deferred tax assets and liabilities represent the future tax return consequences of these differences, which will either be taxable or deductible when assets and liabilities are recovered or settled, as well as operating loss carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. These differences result in deferred tax assets and liabilities, which are included within the consolidated balance sheets. The Company must then assess the likelihood that the Company’s deferred tax assets will be recovered from future taxable income and to the extent the Company believes that recovery is not more likely than not, the Company must establish a valuation allowance. The Company’s assessment considers the recognition of deferred tax assets on a jurisdictional basis. Accordingly, in assessing its future taxable income on a jurisdictional basis, the Company considers the effect of its transfer pricing policies on that income. As of the period ended October 1, 2023, the Company determined that recovery of its U.S. federal and state deferred tax assets was no longer more likely than not and established a full valuation allowance on those net assets, based on evaluation of all available evidence, including actual and anticipated business results. Accordingly, the balance sheet net deferred tax assets from the U.S. federal and state jurisdictions reported in “Other Non-current Assets” were reduced after the effect of establishing the valuation allowance.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 8. Commitment s and Contingencies Purchase Obligations The Company has entered into various inventory-related purchase agreements with suppliers. Generally, under these agreements, 50 % of orders are cancelable by giving notice 46 to 60 days prior to the expected shipment date and 25 % of orders are cancelable by giving notice 31 to 45 days prior to the expected shipment date. As of June 30, 2024, the Company had approximately $ 71.7 million , as compared to $ 42.6 million as of December 31, 2023, in short-term non-cancelable purchase commitments with suppliers or where the suppliers had procured unique materials and components upon receipts of the Company’s purchase orders. Due to an elongation of the time from order placement to production that occurred several years ago, the Company issued purchase orders to supply chain partners beyond contractual termination periods. As of June 30, 2024, $ 257.7 million of purchase orders beyond contractual termination periods remained outstanding. Consequently, the Company may incur expenses for materials and components, such as chipsets purchased by the supplier to fulfill the purchase order if the purchase order is cancelled. Expenses incurred in respect of cancelled purchase orders have historically not been significant relative to the original order value. For those orders not governed by master purchase agreements, the commitments are governed by the commercial terms on the Company’s purchase orders subject to acknowledgment from its suppliers. The Company establishes a loss liability for all products it does not expect to sell or orders it anticipates canceling for which it has committed purchases from suppliers. Such loss liability is included in Other accrued liabilities on the Company’s unaudited condensed consolidated balance sheets. Losses incurred in relation to purchase commitments, including unique materials and components, amounted to $ 5.1 million and $ 6.2 million for the three and six months ended June 30, 2024 , respectively and $ 0.9 million and $ 1.4 million for the three and six months ended July 2, 2023, respectively. Non-Trade Commitments As of June 30, 2024 , the Company had non-cancellable purchase commitments of $ 11.3 million pertaining to non-trade activities. Warranty Obligations Changes in the Company’s warranty obligations, which is included in Other accrued liabilities on the unaudited condensed consolidated balance sheets, were as follows: Three Months Ended Six Months Ended (In thousands) June 30, 2024 July 2, 2023 June 30, 2024 July 2, 2023 Balance as of beginning of the period $ 5,087 $ 6,351 $ 5,738 $ 6,320 Provision for warranty liability made 800 1,260 1,408 2,677 Settlements made ( 1,116 ) ( 1,394 ) ( 2,375 ) ( 2,780 ) Balance as of the end of the period $ 4,771 $ 6,217 $ 4,771 $ 6,217 Litigation and Other Legal Matters The Company is involved in disputes, litigation, and other legal actions, including, but not limited to, the matters described below. In all cases, at each reporting period, the Company evaluates whether or not a potential loss amount or a potential range of loss is probable and reasonably estimable under the provisions of the authoritative guidance that addresses accounting for contingencies. In such cases, the Company accrues for the amount, or if a range, the Company accrues the low end of the range, only if there is not a better estimate than any other amount within the range, as a component of legal expense within litigation reserves, net. The Company monitors developments in these legal matters that could affect the estimate the Company had previously accrued. In relation to such matters, the Company currently believes that there are no existing claims or proceedings that are likely to have a material adverse effect on its financial position within the next twelve months , or the outcome of these matters is currently not determinable. There are many uncertainties associated with any litigation, and these actions or other third-party claims against the Company may cause the Company to incur costly litigation and/or substantial settlement charges. In addition, the resolution of any intellectual property litigation may require the Company to make royalty payments, which could have an adverse effect in future periods. If any of those events were to occur, the Company’s business, financial condition, results of operations, and cash flows could be adversely affected. The actual liability in any such matters may be materially different from the Company’s estimates, which could result in the need to adjust the liability and record additional expenses. Huawei v. NETGEAR Inc., NETGEAR Deutschland GmbH, and Exertis-Connect GmbH (at the Dusseldorf District Court, Germany) On or around March of 2022, Huawei filed two patent infringement lawsuits at the District Court of Dusseldorf, Germany, against NETGEAR Inc., NETGEAR Deutschland GmbH, and Exertis-Connect GmbH, a third-party webstore selling NETGEAR products in Germany. Huawei asserted one EU patent in each suit, EP 3 337 077 B1 (“EP 077”) in case no. 08/22 and EP 3 143 741 B1 (EP 741) in case no. 09/22. In its complaints, Huawei alleged that the Company’s WiFi 6 products infringed the two patents, which Huawei further claimed are standard-essential patents. On or around February 9, 2023, the Federal Patent Court issued preliminary opinions finding both asserted patents invalid. The Company attended an oral hearing for both infringement cases on March 21, 2023 before the Dusseldorf District Court and the Court dismissed case no. 09/22 for the EP 741 and stayed case no. 08/22 for EP 077. Huawei is appealing the dismissal of case no. 09/22, and the deadline for the parties’ briefing is scheduled for November 22, 2024 with an oral hearing on March 6, 2025. On March 20, 2024, the Patent Court maintained the validity of EP 741, but with an amended claim. Case no. 08/22 (EP 077) remains stayed while the nullity action is ongoing. An oral hearing for the EP 077 nullity action is scheduled for December 12, 2024. On or around May 10, 2022, the Company was served with two suits that Huawei filed before the Jinan Intermediate People’s Court of China asserting Patent Nos. ZL 201811536087.9 (case no. 407) and ZL 201810757332.2 (case no. 408) against the Company’s WiFi 6 products. The Company’s challenge of the Jinan Court’s jurisdiction in both cases was denied by the Supreme Court of China. The parties attended an evidentiary hearing for the cases on July 3, 2023. Licensing and technical hearings followed on July 24, 2023 and July 25, 2023. On or around June 12, 2024, the Jinan Court found that the Company Wi-Fi 6 products infringe Huawei’s two asserted Chinese patents. The Company appealed both cases to the Chinese Supreme Court on June 21, 2024. Huawei v. NETGEAR Inc., NETGEAR Deutschland GmbH, and NETGEAR International Limited (at the Unified Patent Court - UPC) On or around July 3, 2023, Huawei filed an infringement suit, asserting patent EP 3 611 989 (the ’989 Patent), against NETGEAR Inc., NETGEAR Deutschland GmbH, and NETGEAR International Limited at the Unified Patent Court (UPC) in Munich, Germany. The deadline for the parties to complete briefing was extended to July 3, 2024. An interim conference is scheduled for August 29, 2024, and oral hearing for October 30 and 31, 2024. On or around December 11, 2023, Huawei filed a second UPC suit, asserting EP 3 678 321 (EP 321), against the Company. The Company submitted its Statement of Defense on April 18, 2024. The parties are awaiting a date from the Court for oral argument. Huawei v. NETGEAR Inc., NETGEAR Deutschland GmbH, and NETGEAR International Limited (at the Munich District Court, Germany) On May 17, 2024, Huawei filed a Complaint asserting EP 3 334 112 (EP 112) against the Company’s WiFi-6 products at the Munich District Court. The entities named in the suit are NETGEAR Inc, NETGEAR International, and NETGEAR Germany. The deadline for the parties to complete briefing is November 15, 2024 and the oral hearing is scheduled for December 19, 2024. On July 10, 2024, Huawei filed a Complaint asserting EP 3 937 445 (EP 445) against the Company’s WiFi-6 products at the Munich District Court. The entities named in the suit are NETGEAR Inc, NETGEAR International, and NETGEAR Germany. The Company filed a Statement of Defense for NETGEAR Germany on July 10, 2024. The deadline for other entities’ Statement of Defense is due on October 11, 2024. TP-Link v. NETGEAR (at the ITC and Northern District of California District Court) On May 6, 2024, TP-Link sued the Company at the International Trade Commission (ITC), alleging that the Company’s Orbi and Nighthawk products (collectively, the “Accused Products”) infringe five of TP-Link’s patents: U.S. Pat. No. 7,636,550 entitled “System and Method for Determining Channel Quality in a Wireless Network,” U.S. Pat. No. 8,176,148 entitled “Method and System for Wireless Network Configuration,” U.S. Pat. No. 8,229,357 entitled “Method and System For a Portable Wireless Range,” U.S. Pat. No. 7,672,268 entitled “Systems and Methods for Implementing Double Wide Channels in a Communication System,” and U.S. Pat. No. 8,774,008 entitled “Real-Time Network Measurement” (collectively, the “Asserted Patents”). The ITC instituted the case on June 14, 2024 and the Company filed its Response on July 18, 2024. On June 8, 2024, TP-Link filed a parallel lawsuit before the Northern District of California District Court alleging that the Company infringes the same Asserted Patents by the same Accused Products. This case is stayed pending outcome of the ITC case. TP-Link v. NETGEAR (at the Northern District of California District Court) On June 10, 2024, TP-Link filed a lawsuit against NETGEAR in the United States District Court Northern District of California alleging breach of contract. The Company recently obtained an Initial Determination at the ITC that TP Link’s products infringe on the Company’s U.S. Patent 7,936,714 (the ’714 Patent). TP-Link alleged, in its Complaint, that the ’714 Patent is a Standard Essential Patent (SEP) and by suing TP-Link for patent infringement, the Company breached its contractual obligation, as a member of Wi-Fi Alliance or WFA, to offer TP- Link (also a WFA member) a license to the ’714 Patent on reasonable and non-discriminatory (RAND) terms. The suit seeks a declaratory judgment from the Court that the Company is subject to RAND licensing obligations and damages. On June 18, 2024, TP-Link filed a motion for preliminary injunction seeking to enjoin the Company from enforcing an exclusion order from the ITC based on the ’714 patent. The Company’s opposition to the preliminary injunction is due August 1, 2024 and an oral hearing is scheduled for August 22, 2024. The Company’s response to the Complaint is due August 8, 2024. The Company, at this time, is not able to reasonably estimate any financial impact to the Company resulting from these litigation matters. The Company does not believe that it is reasonably possible that a material loss has been incurred for any of the matters disclosed above, and consequently has not established any loss provisions. For the three and six months ended June 30, 2024, the Company recorded an $ 8.2 million litigation reserve relating to a contingent liability tied to a successful outcome of the ITC suit against TP-Link. The Company included the amount in Litigations reserves, net in the condensed consolidated statements of operations.

Stockholders' Equity

Stockholders' Equity	6 Months Ended
	Jun. 30, 2024
Stockholders' Equity Note [Abstract]
Stockholders' Equity	Note 9. Stock holders’ Equity Stock Repurchases From time to time, the Company’s Board of Directors has authorized programs under which the Company may repurchase shares of its common stock, depending on market conditions, in the open market or through privately negotiated transactions. Under the authorizations, the timing and actual number of shares subject to repurchase are at the discretion of management and are contingent on a number of factors, such as levels of cash generation from operations, cash requirements for acquisitions and the price of the Company’s common stock. During the six months ended June 30, 2024 , the Company repurchased and retired, reported based on trade date, approximately 1.6 million shares of common stock, at a cost of approximately $ 21.4 million under the repurchase authorization. The Company did not repurchase any shares of common stock during the six months ended July 2, 2023. As of June 30, 2024 , approximately 0.9 million shares remained authorized for repurchase under the repurchase program. On July 16, 2024, the Board of Directors authorized management to repurchase up to 3.0 million shares of the Company’s outstanding common stock, incremental to the remaining shares under the Company’s previous repurchase program. The Company repurchased, reported based on trade date, approxima tely 197,000 and 147,000 shares of common stock, at a cost of approximately $ 2.9 million and $ 2.1 million, during the six months ended June 30, 2024 and July 2, 2023, respectively, to administratively facilitate the withholding and subsequent remittance of personal income and payroll taxes for individuals receiving RSUs. These shares were retired upon repurchase. The Company’s policy related to repurchases of its common stock is to charge the excess of cost over par value to retained earnings. All repurchases were made in compliance with Rule 10b-18 under the Securities Exchange Act of 1934, as amended. Accumulated Other Comprehensive Income (Loss) The following tables set forth the changes in accumulated other comprehensive income (loss) (“AOCI”) by component: (In thousands) Unrealized Unrealized Estimated tax Total Balance as of December 31, 2023 $ 126 $ 7 $ 3 $ 136 Other comprehensive income (loss) before reclassifications ( 219 ) ( 186 ) 37 ( 368 ) Less: Amount reclassified from accumulated other comprehensive income (loss) — ( 162 ) 34 ( 128 ) Net current period other comprehensive income (loss) ( 219 ) ( 24 ) 3 ( 240 ) Balance as of June 30, 2024 $ ( 93 ) $ ( 17 ) $ 6 $ ( 104 ) (In thousands) Unrealized Unrealized Estimated tax Total Balance as of December 31, 2022 $ ( 322 ) $ ( 338 ) $ 125 $ ( 535 ) Other comprehensive income (loss) before reclassifications 191 1,836 ( 383 ) 1,644 Less: Amount reclassified from accumulated other comprehensive income (loss) — 1,262 ( 265 ) 997 Net current period other comprehensive income (loss) 191 574 ( 118 ) 647 Balance as of July 2, 2023 $ ( 131 ) $ 236 $ 7 $ 112 The following table provides details about significant amounts reclassified out of each component of AOCI: Three Months Ended Six Months Ended (In thousands) June 30, 2024 July 2, 2023 June 30, 2024 July 2, 2023 Amount Reclassified from AOCI Gains (losses) on cash flow hedge: Foreign currency forward contracts Affected line item in the statement of operations Net revenue $ ( 130 ) $ 762 $ ( 209 ) $ 1,451 Cost of revenue — ( 1 ) — ( 2 ) Research and development ( 1 ) ( 18 ) ( 2 ) ( 26 ) Sales and marketing 33 ( 59 ) 42 ( 142 ) General and administrative ( 1 ) ( 3 ) 7 ( 19 ) Total before tax ( 99 ) 681 ( 162 ) 1,262 Tax impact 21 ( 143 ) 34 ( 265 ) Total, net of tax $ ( 78 ) $ 538 $ ( 128 ) $ 997

Employee Benefit Plans

Employee Benefit Plans	6 Months Ended
	Jun. 30, 2024
Employee Benefit and Share-Based Payment Arrangement, Noncash Expense [Abstract]
Employee Benefit Plans	Note 10. Employe e Benefit Plans The Company grants options, RSUs and performance units under the 2016 Incentive Plan (the “2016 Plan”), under which awards may be granted to all employees. Vesting periods under this plan are generally four years for options and RSUs and three years for performance shares. As of June 30, 2024, approximately 2.0 million shares were reserved for future grants under the 2016 Plan. In February 2024, the Company’s Board of Directors approved 2024 Inducement Equity Incentive Plan (the “2024 Inducement Plan”), under which options, restricted stock awards, RSUs, stock appreciation rights, performance units, performance shares, and other stock or cash awards can be granted to personnel for positions of substantial responsibility. As of June 30, 2024 , approximately 0.7 million shares were reserved for future grants under the 2024 Inducement Plan. Additionally, the Company sponsors an Employee Stock Purchase Plan (the “ESPP”). The terms of the plan include a look-back feature that enables employees to purchase stock semi-annually at a price equal to 85 % of the lesser of the fair market value at the beginning of the offering period or the purchase date. The duration of each offering period is generally six months. As of June 30, 2024, approximately 0.6 million shares were available for issuance under the ESPP. Option Activity Stock option activity was as follows: (In thousands, except per share amounts) Number of Weighted Average Exercise Price Per Share Outstanding as of December 31, 2023 866 $ 30.70 Granted — $ — Exercised — $ — Cancelled — $ — Expired ( 19 ) $ 19.41 Outstanding as of June 30, 2024 847 $ 30.96 Time-Based RSU Activity Time-based RSU activity was as follows: (In thousands, except per share amounts) Number Weighted Average Grant Date Fair Value Per Share Outstanding as of December 31, 2023 1,567 $ 22.83 Granted 1,463 $ 14.34 Vested ( 658 ) $ 22.50 Cancelled ( 126 ) $ 20.86 Outstanding as of June 30, 2024 2,246 $ 17.35 Performance-Based RSU Activity Since 2020, the Company’s executive officers have been granted performance-based restricted stock units (“PSUs”) under the 2016 Plan and 2024 Inducement Plan with vesting occurring at the end of an approximately three-year period if performance conditions or market conditions are met. The number of PSUs earned and eligible to vest are determined based on achievement of the pre-determined performance conditions or market conditions and the recipients’ continued service with the Company. The number of PSUs to vest could range from 0 % to 150 % of the target shares granted. For the PSUs with performance conditions, at the end of each reporting period, the Company evaluates the probability of achieving the performance conditions and records the related stock-based compensation expense based on performance to date over the service period. For the PSUs with market conditions, t he grant date fair value is determined using the Monte Carlo valuation method and the stock-based compensation expense is recognized straight line from the grant date to the vesting date. In February 2024, the Company granted PSUs under the 2024 Inducement Plan to its newly-hired Chief Executive Officer with 1/3 of the target PSUs allocated to each tranche and vesting occurring at the end of each anniversary of the vesting commencement date over a three-year period. The number of PSUs to vest could range from 0 % to 150 % of the target shares granted and are determined based on achievement of the pre-determined market conditions and the recipients’ continued service with the Company. T he grant date fair value was determined using the Monte Carlo valuation method. The stock-based compensation expense relating to PSUs with a market condition is recognized ratably from the service inception date to the vesting date for each tranche. PSU activity was as follows: (In thousands, except per share amounts) Number Weighted Average Grant Date Fair Value Per Share Outstanding as of December 31, 2023 417 $ 24.76 Granted 575 $ 20.25 Vested — $ — Cancelled ( 332 ) $ 26.39 Outstanding as of June 30, 2024 660 $ 20.01 Valuation and Expense Information The following table sets forth the stock-based compensation expense resulting from stock options, RSUs (time-based and performance-based) and the ESPP included in the Company’s unaudited condensed consolidated statements of operations: Three Months Ended Six Months Ended (In thousands) June 30, 2024 July 2, 2023 June 30, 2024 July 2, 2023 Cost of revenue $ 413 $ 342 $ 778 $ 693 Research and development 844 1,144 1,542 2,209 Sales and marketing 1,235 1,397 2,472 2,828 General and administrative 3,396 1,804 5,640 3,622 Total $ 5,888 $ 4,687 $ 10,432 $ 9,352 As of June 30, 2024 , $ 45.3 million of unrecognized compensation cost related to unvested RSUs and performance shares expected to be recognized over a weighted-average period of 2.5 years.

Segment Information

Segment Information	6 Months Ended
	Jun. 30, 2024
Segment Reporting [Abstract]
Segment Information	Note 11. Segme nt Information Operating segments are components of an enterprise about which separate financial information is available and is evaluated quarterly by management, namely the Chief Operating Decision Maker (“CODM”) of an organization, in order to determine operating and resource allocation decisions. By this definition, the Company has identified its CEO as the CODM. The Company operates and reports in two segments: Connected Home and NETGEAR for Business: • Connected Home: Focuses on consumers and provides high-performance, dependable and easy-to-use premium WiFi internet networking solutions such as WiFi 6, WiFi 6E and WiFi 7 Tri-band and Quad-band mesh systems, and routers, 4G/5G mobile products, and subscription services that provide consumers a range of value-added services focused on performance, security, privacy, and premium support; and • NETGEAR for Business: Focuses on businesses and provides solutions for business networking, wireless local area network (“LAN”), audio and video over Ethernet for Pro AV applications, security and remote management providing enterprise-class functionality at an affordable price. The Company believes that this structure reflects its current operational and financial management, and that it provides the best structure for the Company to focus on growth opportunities while maintaining financial discipline. The leadership team of each segment is focused on product and service development efforts, both from a product marketing and engineering standpoint, to service the unique needs of their customers. The results of the reportable segments are derived directly from the Company’s management reporting system. The results are based on the Company’s method of internal reporting and are not necessarily in conformity with accounting principles generally accepted in the United States. Management measures the performance of each segment based on several metrics, including contribution income (loss). Segment contribution income (loss) includes all product line segment revenues less the related cost of sales, research and development and sales and marketing costs. Contribution income (loss) is used, in part, to evaluate the performance of, and allocate resources to, each of the segments. Certain operating expenses are not allocated to segments because they are separately managed at the corporate level. These unallocated indirect costs include corporate costs, such as corporate research and development, corporate marketing and general and administrative expenses, amortization of intangibles, stock-based compensation expense, restructuring and other charges, litigation reserves, net, and other income (expenses), net. Effective on January 1, 2024, resulting from certain segment structure changes, the Company revised its allocation method by allocating certain historically unallocated operating expenses to its individual operating segments. The prior-year segment financial information has been recast to conform to the current-year presentation. Financial information for each reportable segment and a reconciliation of segment contribution income (loss) to loss before income taxes is as follows: Three Months Ended Six Months Ended (In thousands, except percentage data) June 30, 2024 July 2, 2023 June 30, 2024 July 2, 2023 Net Revenue: Connected Home $ 84,033 $ 98,406 $ 179,996 $ 201,152 NETGEAR for Business 59,867 75,007 128,490 153,169 Total net revenue $ 143,900 $ 173,413 $ 308,486 $ 354,321 Contribution Income (Loss): Connected Home $ ( 13,794 ) $ ( 5,373 ) * $ ( 19,934 ) $ ( 7,129 ) * Contribution margin ( 16.4 )% ( 5.5 )% * ( 11.1 )% ( 3.5 )% * NETGEAR for Business $ 2,061 $ 13,650 * $ 11,965 $ 27,707 * Contribution margin 3.4 % 18.2 % * 9.3 % 18.1 % * Total segment contribution income $ ( 11,733 ) $ 8,277 * $ ( 7,969 ) $ 20,578 * Corporate and unallocated costs ( 19,350 ) ( 19,011 ) * ( 39,156 ) ( 38,385 ) * Amortization of intangibles — ( 128 ) — ( 257 ) Stock-based compensation expense ( 5,888 ) ( 4,687 ) ( 10,432 ) ( 9,352 ) Restructuring and other charges ( 1,688 ) ( 2,229 ) ( 2,720 ) ( 2,337 ) Litigation reserves, net ( 8,200 ) — ( 8,230 ) — Other income, net (1) 2,713 7,999 5,563 9,405 Loss before income taxes $ ( 44,146 ) $ ( 9,779 ) $ ( 62,944 ) $ ( 20,348 ) (1) Amounts included gain/(loss), net from derivatives not designated as hedging instruments of $ 0.6 million and $ 2.1 million, for the three and six months ended June 30, 2024, respectively, and $ 1.0 million and $ 0.9 million, for the three and six months ended July 2, 2023, respectively, and gain/(loss), net from litigation settlements of $ 6.0 million for the three and six months ended July 2, 2023, respectively . * F inancial information for each reportable segment in the prior year periods were recast to conform to the current reportable segment structure. The CODM does not evaluate operating segments using discrete asset information. Operations by Geographic Region For reporting purposes, revenue is generally attributed to each geographic region based on the location of the customer. The following table shows net revenue by geography: Three Months Ended Six Months Ended (In thousands) June 30, 2024 July 2, 2023 June 30, 2024 July 2, 2023 United States (U.S.) $ 92,794 $ 112,961 $ 200,083 $ 230,759 Americas (excluding U.S.) 2,709 3,650 5,348 7,774 EMEA (1) 27,355 36,161 58,542 75,339 APAC (1) 21,042 20,641 44,513 40,449 Total net revenue $ 143,900 $ 173,413 $ 308,486 $ 354,321 (1) No in dividual foreign country represented more than 10 % of the Company’s total net revenue in the periods presented. Long-lived assets by Geographic Region The following table presents the Company’s long-lived assets located in geographic areas, which consist of property and equipment, net, and operating lease right-of-use assets: (In thousands) June 30, 2024 December 31, 2023 United States (U.S.) $ 22,079 $ 25,051 Canada 5,496 4,714 Americas (excluding U.S. and Canada) 52 68 EMEA 3,425 3,739 Singapore 5,648 6,218 APAC (excluding Singapore) (1) 7,735 5,768 Total $ 44,435 $ 45,558 (1) No individual country represented more than 10 % of the Company’s total long-lived assets in the periods presented.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2024
Fair Value Disclosures [Abstract]
Fair Value Measurements	Note 12. Fair V alue Measurements The following tables summarize assets and liabilities measured at fair value on a recurring basis: June 30, 2024 (In thousands) Total Quoted market Significant Assets: Cash equivalents: money-market funds $ 29,385 $ 29,385 $ — Available-for-sale investments: U.S. treasury securities (1) 108,250 — 108,250 Trading securities: mutual funds (1) 8,722 8,722 — Available-for-sale investments: corporate equity securities (1) 262 262 — Foreign currency forward contracts (2) 235 — 235 Total assets measured at fair value $ 146,854 $ 38,369 $ 108,485 Liabilities: Foreign currency forward contracts (3) $ 213 $ — $ 213 Total liabilities measured at fair value $ 213 $ — $ 213 December 31, 2023 (In thousands) Total Quoted market Significant Assets: Cash equivalents: money-market funds $ 25,986 $ 25,986 $ — Available-for-sale investments: U.S. treasury securities (1) 98,454 — 98,454 Trading securities: mutual funds (1) 8,304 8,304 — Available-for-sale investments: convertible debt securities (1) 173 — 173 Foreign currency forward contracts (2) 291 — 291 Total assets measured at fair value $ 133,208 $ 34,290 $ 98,918 Liabilities: Foreign currency forward contracts (3) $ 1,691 $ — $ 1,691 Total liabilities measured at fair value $ 1,691 $ — $ 1,691 (1) Included in Short-term investments on the Company’s unaudited condensed consolidated balance sheets. (2) Included in Prepaid expenses and other current assets on the Company’s unaudited condensed consolidated balance sheets. (3) Included in Other accrued liabilities on the Company's unaudited condensed consolidated balance sheets. The Company’s investments in money-market funds, mutual funds and corporate equity securities are classified within Level 1 of the fair value hierarchy because they are valued based on quoted market prices in active markets. The Company’s investments in U.S. treasury securities are classified within Level 2 of the fair value hierarchy because they are valued based on readily available pricing sources for comparable or identical instruments in less active markets. The Company’s investments in convertible debt securities issued by a publicly held company are classified within Level 2 of the fair value hierarchy as the fair value for the instrument approximates its cost based on the contractual terms of the arrangement. The Company’s foreign currency forward contracts are classified within Level 2 of the fair value hierarchy as they are valued using pricing models that consider the contract terms as well as currency rates and counterparty credit rates. The Company verifies the reasonableness of these pricing models using observable market data for related inputs into such models. The Company enters into foreign currency forward contracts with only those counterparties that have long-term credit ratings of A-/A3 or higher. The carrying value of non-financial assets and liabilities measured at fair value in the financial statements on a recurring basis, including accounts receivable and accounts payable, approximate fair value due to their short maturities.

Restructuring and Other Charges

Restructuring and Other Charges	6 Months Ended
	Jun. 30, 2024
Restructuring Charges [Abstract]
Restructuring and Other Charges	Note 13. Restructuring and Other Charges The Company accounts for its restructuring plans under the authoritative guidance for exit or disposal activities. The Company includes expenses related to restructuring and other charges in Other operating expenses (income), net in the condensed consolidated statements of operations. Accrued restructuring and other charges are classified within Accrued employee compensation and Other accrued liabilities on the condensed consolidated balance sheets. Restructuring and other charges recognized in the three and six months ended June 30, 2024 and July 2, 2023, respectively, were primarily for severance, and other costs in relation to the reorganization of our business to better align the cost structure of the business with the areas to deliver long-term growth and expanding profitability or projected revenue levels. The liabilities as of June 30, 2024 are expected to be settled in 2024. The following table provides a summary of the activity related to accrued restructuring and other charges: (In thousands) Accrued Restructuring and Other Charges at December 31, 2023 Additions Cash Payments Adjustments Accrued Restructuring and Other Charges at June 30, 2024 Restructuring Employee termination charges $ 257 $ 2,504 $ ( 2,139 ) $ — $ 622 Lease contract termination and other charges 30 216 ( 86 ) ( 160 ) — Total Restructuring and other charges $ 287 $ 2,720 $ ( 2,225 ) $ ( 160 ) $ 622 (In thousands) Accrued Restructuring and Other Charges at December 31, 2022 Additions Cash Payments Adjustments Accrued Restructuring and Other Charges at July 2, 2023 Restructuring Employee termination charges $ 1,912 $ 2,396 $ ( 3,505 ) $ ( 37 ) $ 766 Lease contract termination and other charges — 7 — — 7 Total Restructuring and other charges $ 1,912 $ 2,403 $ ( 3,505 ) $ ( 37 ) $ 773

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2024
Accounting Policies [Abstract]
Recent Accounting Pronouncements	Recent Accounting Pronouncements In November 2023, the FASB issued ASU 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures”, which improves reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. ASU 2023-07 is effective for the Company for the year ended 2024 and early adoption is permitted. Upon adoption, the guidance should be applied retrospectively to all prior periods presented in the financial statements. The Company does not expect that the guidance will have material impacts on its financial position, results of operations or cash flows. The Company is evaluating the impact that the updated standard will have on its financial statement disclosures. In December 2023, the FASB issued ASU 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures”, which will require the Company to disclose specified additional information in its income tax rate reconciliation and provide additional information for reconciling items that meet a quantitative threshold. ASU 2023-09 will also require the Company to disaggregate its income taxes paid disclosure by federal, state and foreign taxes, with further disaggregation required for significant individual jurisdictions. ASU 2023-09 is effective for the Company for the year ended December 31, 2025 and early adoption is permitted. The guidance allows for adoption using either a prospective or retrospective transition method. The Company is evaluating the impact that the updated standard will have on its financial statement disclosures. With the exception of the new standards discussed above, there have been no other new accounting pronouncements that have significance, or potential significance, to the Company’s financial position, results of operations and cash flows.
Revenue Recognition	Transaction Price Allocated to the Remaining Performance Obligations Remaining performance obligations represent the transaction price allocated to performance obligations that are unsatisfied or partially unsatisfied as of the end of the reporting period. Unsatisfied and partially unsatisfied performance obligations consist of contract liabilities, in-transit orders with destination terms, and non-cancellable backlog. Non-cancellable backlog includes goods for which customer purchase orders have been accepted, that are scheduled or in the process of being scheduled for shipment, and that are not yet invoiced. Contract Balances The Company records accounts receivable when it has an unconditional right to consideration. Contract liabilities are recorded when cash payments are received or due in advance of performance. Contract liabilities consist of advance payments and deferred revenue, where the Company has unsatisfied performance obligations. Contract liabilities are mainly classified as Deferred revenue on the unaudited condensed consolidated balance sheets. Payment terms vary by customer. The time between invoicing and when payment is due is not significant. For certain products or services and customer types, payment is required before the products or services are delivered to the customer.
Net Income (Loss) Per Share	Basic net income (loss) per share is computed by dividing the net income (loss) for the period by the weighted average number of common shares outstanding during the period. Diluted net income (loss) per share is computed by dividing the net income (loss) for the period by the weighted average number of shares of common stock and potentially dilutive common stock outstanding during the period. Potentially dilutive common shares include common shares issuable upon exercise of stock options, vesting of Restricted Stock Units (“RSUs”) and performance shares, and issuances of shares under the Employee Stock Purchase Plan (the “ESPP”), which are reflected in diluted net income (loss) per share by application of the treasury stock method. Potentially dilutive common shares are excluded from the computation of diluted net income (loss) per share when their effect is anti-dilutive.
Income taxes	The Company accounts for income taxes under an asset and liability approach. Under this method, income tax expense is recognized for the amount of taxes payable or refundable for the current year. In addition, deferred tax assets and liabilities are recognized for the expected future tax consequences of temporary differences resulting from different treatment for tax versus accounting for certain items, such as accruals and allowances not currently deductible for tax purposes. The deferred tax assets and liabilities represent the future tax return consequences of these differences, which will either be taxable or deductible when assets and liabilities are recovered or settled, as well as operating loss carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. These differences result in deferred tax assets and liabilities, which are included within the consolidated balance sheets. The Company must then assess the likelihood that the Company’s deferred tax assets will be recovered from future taxable income and to the extent the Company believes that recovery is not more likely than not, the Company must establish a valuation allowance. The Company’s assessment considers the recognition of deferred tax assets on a jurisdictional basis. Accordingly, in assessing its future taxable income on a jurisdictional basis, the Company considers the effect of its transfer pricing policies on that income. As of the period ended October 1, 2023, the Company determined that recovery of its U.S. federal and state deferred tax assets was no longer more likely than not and established a full valuation allowance on those net assets, based on evaluation of all available evidence, including actual and anticipated business results. Accordingly, the balance sheet net deferred tax assets from the U.S. federal and state jurisdictions reported in “Other Non-current Assets” were reduced after the effect of establishing the valuation allowance.
Segment Recast	Segment Recast In the first fiscal quarter of 2024, resulting from certain segment structure changes, the Company revised its allocation method by allocating certain historically unallocated operating expenses to its individual operating segments. This change impacted Note 11, Segment Information . The prior-year segment financial information has been recast to conform to the current-year presentation. None of the changes impact previously reported consolidated net revenue, income (loss) from operations, net income (loss) per share, total assets, or stockholders’ equity.

Revenue (Tables)

Revenue (Tables)	6 Months Ended
	Jun. 30, 2024
Revenue from Contract with Customer [Abstract]
Schedule of Remaining Performance Obligations	(In thousands) Less than 1 year 1 to 2 years Beyond 2 years Total Performance obligations $ 63,534 $ 3,084 $ 2,589 $ 69,207
Schedule of Contract Balances	The following table reflects the contract balances: (In thousands) Balance Sheet Location June 30, 2024 December 31, 2023 Accounts receivable, net Accounts receivable, net $ 147,069 $ 185,059 Contract liabilities – current Deferred revenue $ 28,682 $ 27,091 Contract liabilities – non-current Other non-current liabilities $ 5,534 $ 4,903
Schedule of Net Revenue Disaggregated by Geographical Region and Sales Channel	In the following tables, net revenue is disaggregated by geographic region and sales channel. The Company conducts business across three geographic regions: Americas; Europe, Middle East and Africa (“EMEA”); and Asia Pacific (“APAC”). The tables also include reconciliations of the disaggregated revenue by reportable segment. The Company operates and reports in two segments: Connected Home and NETGEAR for Business (formerly known as Small and Medium Business, or SMB). Sales and usage-based taxes are excluded from n et revenue. Three Months Ended June 30, 2024 July 2, 2023 (In thousands) Connected NETGEAR for Business Total Connected NETGEAR for Business Total Geographic regions (1) : Americas $ 66,282 $ 29,221 $ 95,503 $ 77,683 $ 38,928 $ 116,611 EMEA 8,958 18,397 27,355 11,317 24,844 36,161 APAC 8,793 12,249 21,042 9,406 11,235 20,641 Total $ 84,033 $ 59,867 $ 143,900 $ 98,406 $ 75,007 $ 173,413 Sales channels: Service provider $ 19,732 $ 202 $ 19,934 $ 24,916 $ 18 $ 24,934 Non-service provider 64,301 59,665 123,966 73,490 74,989 148,479 Total $ 84,033 $ 59,867 $ 143,900 $ 98,406 $ 75,007 $ 173,413 Six Months Ended June 30, 2024 July 2, 2023 (In thousands) Connected NETGEAR for Business Total Connected NETGEAR for Business Total Geographic regions (1) : Americas $ 144,277 $ 61,154 $ 205,431 $ 161,684 $ 76,849 $ 238,533 EMEA 16,968 41,574 58,542 23,381 51,958 75,339 APAC 18,751 25,762 44,513 16,087 24,362 40,449 Total $ 179,996 $ 128,490 $ 308,486 $ 201,152 $ 153,169 $ 354,321 Sales channels: Service provider $ 47,285 $ 445 $ 47,730 $ 38,943 $ 208 $ 39,151 Non-service provider 132,711 128,045 260,756 162,209 152,961 315,170 Total $ 179,996 $ 128,490 $ 308,486 $ 201,152 $ 153,169 $ 354,321 (1) No i ndividual foreign country represented more than 10 % of the Company ’ s total net revenue in the periods presented.

Balance Sheet Components (Table

Balance Sheet Components (Tables)	6 Months Ended
	Jun. 30, 2024
Balance Sheet Related Disclosures [Abstract]
Schedule of Amortized Cost and Estimated Fair Market Value of Investments Classified as Available-for-Sale Excluding Cash Equivalents	Amortized cost and estimated fair market value of investments classified as available-for-sale, excluding cash equivalents, as of June 30, 2024 and December 31, 2023, were as follows: June 30, 2024 (In thousands) Amortized Cost Unrealized Unrealized Estimated U.S. treasury securities $ 108,341 $ — $ ( 91 ) $ 108,250 Corporate equity securities 262 — — 262 Total $ 108,603 $ — $ ( 91 ) $ 108,512 December 31, 2023 (In thousands) Amortized Cost Unrealized Unrealized Estimated U.S. treasury securities $ 98,326 $ 128 $ — $ 98,454 Convertible debt 173 — — 173 Total $ 98,499 $ 128 $ — $ 98,627
Schedule of Investments Classified as Available-for-Sale in Continuous Unrealized Loss Position	The following table summarizes investments classified as available-for-sale in a continuous unrealized loss position for which an allowance for credit losses was not recorded as of June 30, 2024 and December 31, 2023: June 30, 2024 Less Than 12 Months 12 Months or Longer Total (In thousands) Estimated Fair Market Value Gross Unrealized Losses Estimated Fair Market Value Gross Unrealized Losses Estimated Fair Market Value Gross Unrealized Losses U.S. treasury securities $ 108,250 $ ( 91 ) $ — $ — $ 108,250 $ ( 91 ) Total $ 108,250 $ ( 91 ) $ — $ — $ 108,250 $ ( 91 ) December 31, 2023 Less Than 12 Months 12 Months or Longer Total (In thousands) Estimated Fair Market Value Gross Unrealized Losses Estimated Fair Market Value Gross Unrealized Losses Estimated Fair Market Value Gross Unrealized Losses U.S. treasury securities $ 98,454 $ — $ — $ — $ 98,454 $ — Total $ 98,454 $ — $ — $ — $ 98,454 $ —
Schedule of Inventories	Inventories (In thousands) June 30, 2024 December 31, 2023 Raw materials $ 21,748 $ 19,955 Finished goods 167,188 228,896 Total $ 188,936 $ 248,851
Schedule of Property and Equipment, Net	Property and equipment, net (In thousands) June 30, 2024 December 31, 2023 Machinery and equipment $ 51,497 $ 47,826 Furniture, fixtures, and leasehold improvements 19,641 18,205 Software 24,337 25,760 Computer equipment 5,336 5,458 Total property and equipment, gross 100,811 97,249 Accumulated depreciation ( 89,770 ) ( 88,976 ) Total $ 11,041 $ 8,273
Schedule of Other Non-Current Assets	Other non-current assets (In thousands) June 30, 2024 December 31, 2023 Non-current deferred income taxes $ 2,801 $ 3,343 Long-term investments 8,336 8,367 Other 4,663 5,616 Total $ 15,800 $ 17,326
Schedule of Changes in Carrying Value of Long-term Equity Investments	Long-term equity investments The Company’s long-term investments are comprised of equity investments without readily determinable fair values, investments in convertible debt securities or corporate equity securities and investments in limited partnership funds. The changes in the carrying value of equity investments without readily determinable fair values were as follows: Six months ended (In thousands) June 30, 2024 July 2, 2023 Carrying value as of the beginning of the period (1) $ 6,053 $ 6,053 Carrying value as of the end of the period (1) $ 6,053 $ 6,053 The balances excluded an investment in limited partnership funds of $ 2.3 million as of June 30, 2024 , $ 1.8 million as of July 2, 2023 , $ 2.3 million as of December 31, 2023, and $ 1.7 million as of December 31, 2022. Additionally, the balance excluded an investment in corporate equity securities of $ 0.3 million as of June 30, 2024 , an investment in convertible debt securities of $ 0.2 million as of December 31, 2023, July 2, 2023 , and December 31, 2022, respectively.
Schedule of Other Accrued Liabilities	Other accrued liabilities (In thousands) June 30, 2024 December 31, 2023 Current operating lease liabilities $ 11,927 $ 11,869 Sales and marketing 59,912 75,535 Warranty obligations 4,771 5,738 Sales returns (1) 31,478 34,824 Freight and duty 3,921 2,837 Other 47,577 37,281 Total $ 159,586 $ 168,084 (1) Inventory expected to be received from future sales returns amounted to $ 15.5 million and $ 16.9 million as of June 30, 2024 and December 31, 2023, respectively. Provisions to write down expected returned inventory to net realizable value amounted to $ 8.9 million and $ 9.7 million as of June 30, 2024 and December 31, 2023 , respectively.

Derivative Financial Instrume_2

Derivative Financial Instruments (Tables)	6 Months Ended
	Jun. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Fair Values of the Company's Derivative Instruments and the Line Items on the Unaudited Condensed Consolidated Balance Sheets	The fair values of the Company’s derivative instruments and the line items on the unaudited condensed consolidated balance sheets to which they were recorded were summarized as follows: Balance Sheet Balance Sheet (In thousands) Location June 30, December 31, Location June 30, December 31, Derivatives not designated as hedging instruments Prepaid expenses and other current assets $ 228 $ 284 Other accrued liabilities $ 183 $ 1,672 Derivatives designated as hedging instruments Prepaid expenses and other current assets 7 7 Other accrued liabilities 30 19 Total $ 235 $ 291 $ 213 $ 1,691

Net Income (Loss) Per Share (Ta

Net Income (Loss) Per Share (Tables)	6 Months Ended
	Jun. 30, 2024
Earnings Per Share [Abstract]
Schedule of Net Income (Loss) Per Share	Net income (loss) per share consisted of the following: Three Months Ended Six Months Ended (In thousands, except per share data) June 30, 2024 July 2, 2023 June 30, 2024 July 2, 2023 Numerator: Net loss $ ( 45,175 ) $ ( 8,587 ) $ ( 63,825 ) $ ( 18,299 ) Denominator: Weighted average common shares – basic 28,883 29,319 29,136 29,170 Weighted average common shares – dilutive 28,883 29,319 29,136 29,170 Basic net income (loss) per share $ ( 1.56 ) $ ( 0.29 ) $ ( 2.19 ) $ ( 0.63 ) Diluted net income (loss) per share $ ( 1.56 ) $ ( 0.29 ) $ ( 2.19 ) $ ( 0.63 ) Anti-dilutive employee stock-based awards, excluded 2,060 2,404 1,968 2,222

Commitments and Contingencies (

Commitments and Contingencies (Tables)	6 Months Ended
	Jun. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Schedule of Changes in Warranty Obligations	Changes in the Company’s warranty obligations, which is included in Other accrued liabilities on the unaudited condensed consolidated balance sheets, were as follows: Three Months Ended Six Months Ended (In thousands) June 30, 2024 July 2, 2023 June 30, 2024 July 2, 2023 Balance as of beginning of the period $ 5,087 $ 6,351 $ 5,738 $ 6,320 Provision for warranty liability made 800 1,260 1,408 2,677 Settlements made ( 1,116 ) ( 1,394 ) ( 2,375 ) ( 2,780 ) Balance as of the end of the period $ 4,771 $ 6,217 $ 4,771 $ 6,217

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	6 Months Ended
	Jun. 30, 2024
Stockholders' Equity Note [Abstract]
Schedule of Accumulated Other Comprehensive Income (loss)	The following tables set forth the changes in accumulated other comprehensive income (loss) (“AOCI”) by component: (In thousands) Unrealized Unrealized Estimated tax Total Balance as of December 31, 2023 $ 126 $ 7 $ 3 $ 136 Other comprehensive income (loss) before reclassifications ( 219 ) ( 186 ) 37 ( 368 ) Less: Amount reclassified from accumulated other comprehensive income (loss) — ( 162 ) 34 ( 128 ) Net current period other comprehensive income (loss) ( 219 ) ( 24 ) 3 ( 240 ) Balance as of June 30, 2024 $ ( 93 ) $ ( 17 ) $ 6 $ ( 104 ) (In thousands) Unrealized Unrealized Estimated tax Total Balance as of December 31, 2022 $ ( 322 ) $ ( 338 ) $ 125 $ ( 535 ) Other comprehensive income (loss) before reclassifications 191 1,836 ( 383 ) 1,644 Less: Amount reclassified from accumulated other comprehensive income (loss) — 1,262 ( 265 ) 997 Net current period other comprehensive income (loss) 191 574 ( 118 ) 647 Balance as of July 2, 2023 $ ( 131 ) $ 236 $ 7 $ 112
Schedule of Reclassification out of AOCI	The following table provides details about significant amounts reclassified out of each component of AOCI: Three Months Ended Six Months Ended (In thousands) June 30, 2024 July 2, 2023 June 30, 2024 July 2, 2023 Amount Reclassified from AOCI Gains (losses) on cash flow hedge: Foreign currency forward contracts Affected line item in the statement of operations Net revenue $ ( 130 ) $ 762 $ ( 209 ) $ 1,451 Cost of revenue — ( 1 ) — ( 2 ) Research and development ( 1 ) ( 18 ) ( 2 ) ( 26 ) Sales and marketing 33 ( 59 ) 42 ( 142 ) General and administrative ( 1 ) ( 3 ) 7 ( 19 ) Total before tax ( 99 ) 681 ( 162 ) 1,262 Tax impact 21 ( 143 ) 34 ( 265 ) Total, net of tax $ ( 78 ) $ 538 $ ( 128 ) $ 997

Employee Benefit Plans (Tables)

Employee Benefit Plans (Tables)	6 Months Ended
	Jun. 30, 2024
Employee Benefit and Share-Based Payment Arrangement, Noncash Expense [Abstract]
Schedule of Stock Option Activity	Stock option activity was as follows: (In thousands, except per share amounts) Number of Weighted Average Exercise Price Per Share Outstanding as of December 31, 2023 866 $ 30.70 Granted — $ — Exercised — $ — Cancelled — $ — Expired ( 19 ) $ 19.41 Outstanding as of June 30, 2024 847 $ 30.96
Schedule of Time-Based RSU Activity	Time-based RSU activity was as follows: (In thousands, except per share amounts) Number Weighted Average Grant Date Fair Value Per Share Outstanding as of December 31, 2023 1,567 $ 22.83 Granted 1,463 $ 14.34 Vested ( 658 ) $ 22.50 Cancelled ( 126 ) $ 20.86 Outstanding as of June 30, 2024 2,246 $ 17.35
Schedule of PSU Activity	PSU activity was as follows: (In thousands, except per share amounts) Number Weighted Average Grant Date Fair Value Per Share Outstanding as of December 31, 2023 417 $ 24.76 Granted 575 $ 20.25 Vested — $ — Cancelled ( 332 ) $ 26.39 Outstanding as of June 30, 2024 660 $ 20.01
Schedule of Total Stock-Based Compensation Expense Resulting from Stock Options, RSUs, Time-Based and Performance-Based and the ESPP	Valuation and Expense Information The following table sets forth the stock-based compensation expense resulting from stock options, RSUs (time-based and performance-based) and the ESPP included in the Company’s unaudited condensed consolidated statements of operations: Three Months Ended Six Months Ended (In thousands) June 30, 2024 July 2, 2023 June 30, 2024 July 2, 2023 Cost of revenue $ 413 $ 342 $ 778 $ 693 Research and development 844 1,144 1,542 2,209 Sales and marketing 1,235 1,397 2,472 2,828 General and administrative 3,396 1,804 5,640 3,622 Total $ 5,888 $ 4,687 $ 10,432 $ 9,352

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Jun. 30, 2024
Segment Reporting [Abstract]
Schedule of Reportable Segments and Reconciliation of Segment Contribution Income (Loss) to Income (Loss) Before Income Taxes	Financial information for each reportable segment and a reconciliation of segment contribution income (loss) to loss before income taxes is as follows: Three Months Ended Six Months Ended (In thousands, except percentage data) June 30, 2024 July 2, 2023 June 30, 2024 July 2, 2023 Net Revenue: Connected Home $ 84,033 $ 98,406 $ 179,996 $ 201,152 NETGEAR for Business 59,867 75,007 128,490 153,169 Total net revenue $ 143,900 $ 173,413 $ 308,486 $ 354,321 Contribution Income (Loss): Connected Home $ ( 13,794 ) $ ( 5,373 ) * $ ( 19,934 ) $ ( 7,129 ) * Contribution margin ( 16.4 )% ( 5.5 )% * ( 11.1 )% ( 3.5 )% * NETGEAR for Business $ 2,061 $ 13,650 * $ 11,965 $ 27,707 * Contribution margin 3.4 % 18.2 % * 9.3 % 18.1 % * Total segment contribution income $ ( 11,733 ) $ 8,277 * $ ( 7,969 ) $ 20,578 * Corporate and unallocated costs ( 19,350 ) ( 19,011 ) * ( 39,156 ) ( 38,385 ) * Amortization of intangibles — ( 128 ) — ( 257 ) Stock-based compensation expense ( 5,888 ) ( 4,687 ) ( 10,432 ) ( 9,352 ) Restructuring and other charges ( 1,688 ) ( 2,229 ) ( 2,720 ) ( 2,337 ) Litigation reserves, net ( 8,200 ) — ( 8,230 ) — Other income, net (1) 2,713 7,999 5,563 9,405 Loss before income taxes $ ( 44,146 ) $ ( 9,779 ) $ ( 62,944 ) $ ( 20,348 ) (1) Amounts included gain/(loss), net from derivatives not designated as hedging instruments of $ 0.6 million and $ 2.1 million, for the three and six months ended June 30, 2024, respectively, and $ 1.0 million and $ 0.9 million, for the three and six months ended July 2, 2023, respectively, and gain/(loss), net from litigation settlements of $ 6.0 million for the three and six months ended July 2, 2023, respectively . * F inancial information for each reportable segment in the prior year periods were recast to conform to the current reportable segment structure.
Schedule of Net Revenue by Geography	The following table shows net revenue by geography: Three Months Ended Six Months Ended (In thousands) June 30, 2024 July 2, 2023 June 30, 2024 July 2, 2023 United States (U.S.) $ 92,794 $ 112,961 $ 200,083 $ 230,759 Americas (excluding U.S.) 2,709 3,650 5,348 7,774 EMEA (1) 27,355 36,161 58,542 75,339 APAC (1) 21,042 20,641 44,513 40,449 Total net revenue $ 143,900 $ 173,413 $ 308,486 $ 354,321 (1) No in dividual foreign country represented more than 10 % of the Company’s total net revenue in the periods presented.
Schedule of Long-Lived Asset By Geographic Region	The following table presents the Company’s long-lived assets located in geographic areas, which consist of property and equipment, net, and operating lease right-of-use assets: (In thousands) June 30, 2024 December 31, 2023 United States (U.S.) $ 22,079 $ 25,051 Canada 5,496 4,714 Americas (excluding U.S. and Canada) 52 68 EMEA 3,425 3,739 Singapore 5,648 6,218 APAC (excluding Singapore) (1) 7,735 5,768 Total $ 44,435 $ 45,558 (1) No individual country represented more than 10 % of the Company’s total long-lived assets in the periods presented.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2024
Fair Value Disclosures [Abstract]
Fair Value, Assets and Liabilities Measured on Recurring Basis	The following tables summarize assets and liabilities measured at fair value on a recurring basis: June 30, 2024 (In thousands) Total Quoted market Significant Assets: Cash equivalents: money-market funds $ 29,385 $ 29,385 $ — Available-for-sale investments: U.S. treasury securities (1) 108,250 — 108,250 Trading securities: mutual funds (1) 8,722 8,722 — Available-for-sale investments: corporate equity securities (1) 262 262 — Foreign currency forward contracts (2) 235 — 235 Total assets measured at fair value $ 146,854 $ 38,369 $ 108,485 Liabilities: Foreign currency forward contracts (3) $ 213 $ — $ 213 Total liabilities measured at fair value $ 213 $ — $ 213 December 31, 2023 (In thousands) Total Quoted market Significant Assets: Cash equivalents: money-market funds $ 25,986 $ 25,986 $ — Available-for-sale investments: U.S. treasury securities (1) 98,454 — 98,454 Trading securities: mutual funds (1) 8,304 8,304 — Available-for-sale investments: convertible debt securities (1) 173 — 173 Foreign currency forward contracts (2) 291 — 291 Total assets measured at fair value $ 133,208 $ 34,290 $ 98,918 Liabilities: Foreign currency forward contracts (3) $ 1,691 $ — $ 1,691 Total liabilities measured at fair value $ 1,691 $ — $ 1,691 (1) Included in Short-term investments on the Company’s unaudited condensed consolidated balance sheets. (2) Included in Prepaid expenses and other current assets on the Company’s unaudited condensed consolidated balance sheets. (3) Included in Other accrued liabilities on the Company's unaudited condensed consolidated balance sheets.

Restructuring and Other Charg_2

Restructuring and Other Charges (Tables)	6 Months Ended
	Jun. 30, 2024
Restructuring Charges [Abstract]
Summary of Activity Related to Accrued Restructuring and Other Charges	The following table provides a summary of the activity related to accrued restructuring and other charges: (In thousands) Accrued Restructuring and Other Charges at December 31, 2023 Additions Cash Payments Adjustments Accrued Restructuring and Other Charges at June 30, 2024 Restructuring Employee termination charges $ 257 $ 2,504 $ ( 2,139 ) $ — $ 622 Lease contract termination and other charges 30 216 ( 86 ) ( 160 ) — Total Restructuring and other charges $ 287 $ 2,720 $ ( 2,225 ) $ ( 160 ) $ 622 (In thousands) Accrued Restructuring and Other Charges at December 31, 2022 Additions Cash Payments Adjustments Accrued Restructuring and Other Charges at July 2, 2023 Restructuring Employee termination charges $ 1,912 $ 2,396 $ ( 3,505 ) $ ( 37 ) $ 766 Lease contract termination and other charges — 7 — — 7 Total Restructuring and other charges $ 1,912 $ 2,403 $ ( 3,505 ) $ ( 37 ) $ 773

Revenue (Schedule of Remaining

Revenue (Schedule of Remaining Performance Obligations) (Details) $ in Thousands	Jun. 30, 2024 USD ($)
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Performance obligations, amount	$ 69,207
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2024-07-01
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Performance obligations, amount	$ 63,534
Performance obligations, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2025-07-01
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Performance obligations, amount	$ 3,084
Performance obligations, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2026-07-01
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Performance obligations, amount	$ 2,589
Performance obligations, period	1 year

Revenue (Schedule of Remainin_2

Revenue (Schedule of Remaining Performance Obligations) (Details 1) $ in Thousands	Jun. 30, 2024 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligations, amount	$ 69,207

Revenue (Schedule of Contract B

Revenue (Schedule of Contract Balances) (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Revenue from Contract with Customer [Abstract]
Accounts receivable, net	$ 147,069	$ 185,059
Contract liabilities - current	28,682	27,091
Contract liabilities - non-current	$ 5,534	$ 4,903

Revenue (Narrative) (Details)

Revenue (Narrative) (Details) $ in Millions	6 Months Ended
	Jun. 30, 2024 USD ($) Region Segment
Revenue from Contract with Customer [Abstract]
Revenue deferred due to unsatisfied performance obligations	$ 24.9
Revenue recognized for satisfaction of performance obligations	22.7
Contract with Customer, Liability Included In Beginning Balance, Revenue Recognized	$ 18.1
Number of geographic regions in which the Company conducts business | Region	3
Number of operating segments | Segment	2
Number of reportable segments | Segment	2

Revenue (Schedule of Net Revenu

Revenue (Schedule of Net Revenue Disaggregated by Geographical Region and Sales Channel) (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2024	Jul. 02, 2023	Jun. 30, 2024	Jul. 02, 2023
Disaggregation of Revenue [Line Items]
Total net revenue	[1]	$ 143,900	$ 173,413	$ 308,486	$ 354,321
Service provider
Disaggregation of Revenue [Line Items]
Total net revenue		19,934	24,934	47,730	39,151
Non-service provider
Disaggregation of Revenue [Line Items]
Total net revenue		123,966	148,479	260,756	315,170
Connected Home
Disaggregation of Revenue [Line Items]
Total net revenue	[1]	84,033	98,406	179,996	201,152
Connected Home | Service provider
Disaggregation of Revenue [Line Items]
Total net revenue		19,732	24,916	47,285	38,943
Connected Home | Non-service provider
Disaggregation of Revenue [Line Items]
Total net revenue		64,301	73,490	132,711	162,209
NETGEAR for Business
Disaggregation of Revenue [Line Items]
Total net revenue	[1]	59,867	75,007	128,490	153,169
NETGEAR for Business | Service provider
Disaggregation of Revenue [Line Items]
Total net revenue		202	18	445	208
NETGEAR for Business | Non-service provider
Disaggregation of Revenue [Line Items]
Total net revenue		59,665	74,989	128,045	152,961
Americas
Disaggregation of Revenue [Line Items]
Total net revenue	[1]	95,503	116,611	205,431	238,533
Americas | Connected Home
Disaggregation of Revenue [Line Items]
Total net revenue	[1]	66,282	77,683	144,277	161,684
Americas | NETGEAR for Business
Disaggregation of Revenue [Line Items]
Total net revenue	[1]	29,221	38,928	61,154	76,849
EMEA
Disaggregation of Revenue [Line Items]
Total net revenue	[1],[2]	27,355	36,161	58,542	75,339
EMEA | Connected Home
Disaggregation of Revenue [Line Items]
Total net revenue	[1]	8,958	11,317	16,968	23,381
EMEA | NETGEAR for Business
Disaggregation of Revenue [Line Items]
Total net revenue	[1]	18,397	24,844	41,574	51,958
APAC
Disaggregation of Revenue [Line Items]
Total net revenue	[1]	21,042	20,641	44,513	40,449
APAC | Connected Home
Disaggregation of Revenue [Line Items]
Total net revenue	[1]	8,793	9,406	18,751	16,087
APAC | NETGEAR for Business
Disaggregation of Revenue [Line Items]
Total net revenue	[1]	$ 12,249	$ 11,235	$ 25,762	$ 24,362
[1] No i ndividual foreign country represented more than 10 % of the Company ’ s total net revenue in the periods presented. No in dividual foreign country represented more than 10 % of the Company’s total net revenue in the periods presented.

Revenue (Schedule of Net Reve_2

Revenue (Schedule of Net Revenue Disaggregated by Geographical Region and Sales Channel) (Parenthetical) (Details) - Maximum	6 Months Ended
	Jun. 30, 2024	Jul. 02, 2023
Disaggregation of Revenue [Line Items]
Percentage of net revenue	10%
EMEA
Disaggregation of Revenue [Line Items]
Percentage of net revenue	10%	10%

Balance Sheet Components (Sched

Balance Sheet Components (Schedule of Amortized Cost and Estimated Fair Market Value of Investments Classified as Available-for-Sale Excluding Cash Equivalents) (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Schedule Of Available For Sale Securities [Line Items]
Amortized Cost	$ 108,603	$ 98,499
Unrealized Gains	0	128
Unrealized Losses	(91)	0
Estimated Fair Value	108,512	98,627
U.S. Treasury Securities
Schedule Of Available For Sale Securities [Line Items]
Amortized Cost	108,341	98,326
Unrealized Gains	0	128
Unrealized Losses	(91)	0
Estimated Fair Value	108,250	98,454
Corporate Equity Securities
Schedule Of Available For Sale Securities [Line Items]
Amortized Cost	262
Unrealized Gains	0
Unrealized Losses	0
Estimated Fair Value	$ 262
Convertible debt securities
Schedule Of Available For Sale Securities [Line Items]
Amortized Cost		173
Unrealized Gains		0
Unrealized Losses		0
Estimated Fair Value		$ 173

Balance Sheet Components (Sch_2

Balance Sheet Components (Schedule of Amortized Cost and Estimated Fair Market Value of Investments Classified as Available-for-Sale Excluding Cash Equivalents) (Parentheticals) (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Schedule Of Available For Sale Securities [Line Items]
Short-term investments	$ 117,235	$ 106,931
Other non-current assets	$ 15,800	$ 17,326

Balance Sheet Components (Narra

Balance Sheet Components (Narrative) (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jul. 02, 2023	Jun. 30, 2024	Jul. 02, 2023
Balance Sheet Related Disclosures [Line Items]
Accrued interest receivable	$ 500,000		$ 500,000
Unrealized losses on available-for-sale securities	0	$ 0	0	$ 0
Other-than-temporary impairments	0	0	0	0
Provisions for excess and obsolete inventory	1,900,000	$ 400,000	2,954,000	$ 1,531,000
Equity securities without readily determinable fair value, cumulative downward adjustments for price change and impairment loss	0		0
Cumulative upward adjustments for price changes	$ 300,000		$ 300,000

Balance Sheet Components (Sch_3

Balance Sheet Components (Schedule of Investments Classified as Available-for-Sale in Continuous Unrealized Loss Position) (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Schedule Of Investment Income Reported Amounts By Category [Line Items]
Estimated Fair Market Value, Less Than 12 Months	$ 108,250	$ 98,454
Gross Unrealized Losses, Less Than 12 Months	(91)	0
Estimated Fair Market Value, 12 Months or Longer	0	0
Gross Unrealized Losses, 12 Months or Longer	0	0
Estimated Fair Market Value, Total	108,250	98,454
Gross Unrealized Losses, Total	(91)	0
U.S. Treasury Securities
Schedule Of Investment Income Reported Amounts By Category [Line Items]
Estimated Fair Market Value, Less Than 12 Months	108,250	98,454
Gross Unrealized Losses, Less Than 12 Months	(91)	0
Estimated Fair Market Value, 12 Months or Longer	0	0
Gross Unrealized Losses, 12 Months or Longer	0	0
Estimated Fair Market Value, Total	108,250	98,454
Gross Unrealized Losses, Total	$ (91)	$ 0

Balance Sheet Components (Sch_4

Balance Sheet Components (Schedule of Inventories) (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Balance Sheet Related Disclosures [Abstract]
Raw materials	$ 21,748	$ 19,955
Finished goods	167,188	228,896
Total	$ 188,936	$ 248,851

Balance Sheet Components (Sch_5

Balance Sheet Components (Schedule of Property and Equipment, Net) (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Total property and equipment, gross	$ 100,811	$ 97,249
Accumulated depreciation	(89,770)	(88,976)
Total	11,041	8,273
Machinery and equipment
Total property and equipment, gross	51,497	47,826
Furniture, fixtures and leasehold improvements
Total property and equipment, gross	19,641	18,205
Software
Total property and equipment, gross	24,337	25,760
Computer equipment
Total property and equipment, gross	$ 5,336	$ 5,458

Balance Sheet Components (Sch_6

Balance Sheet Components (Schedule of Other Non-Current Assets) (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Balance Sheet Related Disclosures [Abstract]
Non-current deferred income taxes	$ 2,801	$ 3,343
Long-term investments	8,336	8,367
Other	4,663	5,616
Total	$ 15,800	$ 17,326

Balance Sheet Components (Sch_7

Balance Sheet Components (Schedule of Changes in Carrying Value of Long-term Equity Investments) (Details) - USD ($) $ in Thousands		Jun. 30, 2024	Dec. 31, 2023	Jul. 02, 2023
Balance Sheet Related Disclosures [Abstract]
Beginning Balance	[1]	$ 6,053	$ 6,053	$ 6,053
Ending Balance	[1]	$ 6,053	$ 6,053	$ 6,053
[1] The balances excluded an investment in limited partnership funds of $ 2.3 million as of June 30, 2024 , $ 1.8 million as of July 2, 2023 , $ 2.3 million as of December 31, 2023, and $ 1.7 million as of December 31, 2022. Additionally, the balance excluded an investment in corporate equity securities of $ 0.3 million as of June 30, 2024 , an investment in convertible debt securities of $ 0.2 million as of December 31, 2023, July 2, 2023 , and December 31, 2022, respectively.

Balance Sheet Components (Sch_8

Balance Sheet Components (Schedule of Changes in Carrying Value of Long-term Equity Investments) (Parentheticals) (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023	Jul. 02, 2023	Dec. 31, 2022
Balance Sheet Related Disclosures [Line Items]
Equity investments	$ 8,336	$ 8,367
Limited partnership funds
Balance Sheet Related Disclosures [Line Items]
Equity investments	2,300	2,300	$ 1,800	$ 1,700
Corporate Equity Securities
Balance Sheet Related Disclosures [Line Items]
Equity investments	$ 300
Convertible debt securities
Balance Sheet Related Disclosures [Line Items]
Equity investments		$ 200	$ 200	$ 200

Balance Sheet Components (Sch_9

Balance Sheet Components (Schedule of Other Accrued Liabilities) (Details) - USD ($) $ in Thousands		Jun. 30, 2024	Dec. 31, 2023
Balance Sheet Related Disclosures [Abstract]
Current operating lease liabilities		$ 11,927	$ 11,869
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]		Total	Total
Sales and marketing		$ 59,912	$ 75,535
Warranty obligations		4,771	5,738
Sales returns	[1]	31,478	34,824
Freight and duty		3,921	2,837
Other		47,577	37,281
Total		$ 159,586	$ 168,084
[1] Inventory expected to be received from future sales returns amounted to $ 15.5 million and $ 16.9 million as of June 30, 2024 and December 31, 2023, respectively. Provisions to write down expected returned inventory to net realizable value amounted to $ 8.9 million and $ 9.7 million as of June 30, 2024 and December 31, 2023 , respectively.

Balance Sheet Components (Sc_10

Balance Sheet Components (Schedule of Other Accrued Liabilities) (Parentheticals) (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Balance Sheet Related Disclosures [Abstract]
Inventory expected to be received from future sales returns	$ 15.5	$ 16.9
Provisions to write down expected returned inventory to net realizable value	$ 8.9	$ 9.7

Derivative Financial Instrume_3

Derivative Financial Instruments (Narrative) (Details) - Foreign currency forward contracts $ in Millions	6 Months Ended
	Jun. 30, 2024 USD ($) Derivative_instrument
Derivatives not designated as hedging instruments
Derivative [Line Items]
Approximate number of derivatives per quarter | Derivative_instrument	7
Notional amount | $	$ 3
Cash Flow Hedges
Derivative [Line Items]
Approximate number of derivatives per quarter | Derivative_instrument	10
Notional amount | $	$ 5
Maximum
Derivative [Line Items]
Term of derivative contracts	6 months
Maximum | Derivatives not designated as hedging instruments
Derivative [Line Items]
Term of derivative contracts	3 months
Maximum | Cash Flow Hedges
Derivative [Line Items]
Term of derivative contracts	6 months

Derivative Financial Instrume_4

Derivative Financial Instruments (Schedule of Fair Values of the Company's Derivative Instruments and the Line Items on the Unaudited Condensed Consolidated Balance Sheets) (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Derivatives, Fair Value [Line Items]
Gross Amounts of recognized assets	$ 235	$ 291
Gross Amounts of recognized liabilities	213	1,691
Prepaid expenses and other current assets | Derivatives not designated as hedging instruments
Derivatives, Fair Value [Line Items]
Gross Amounts of recognized assets	228	284
Prepaid expenses and other current assets | Derivatives designated as hedging instruments
Derivatives, Fair Value [Line Items]
Gross Amounts of recognized assets	7	7
Other accrued liabilities | Derivatives not designated as hedging instruments
Derivatives, Fair Value [Line Items]
Gross Amounts of recognized liabilities	183	1,672
Other accrued liabilities | Derivatives designated as hedging instruments
Derivatives, Fair Value [Line Items]
Gross Amounts of recognized liabilities	$ 30	$ 19

Net Income (Loss) Per Share (Sc

Net Income (Loss) Per Share (Schedule of Net Income (Loss) Per Share) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jul. 02, 2023	Jun. 30, 2024	Jul. 02, 2023
Numerator:
Net loss	$ (45,175)	$ (8,587)	$ (63,825)	$ (18,299)
Denominator:
Weighted average common shares - basic	28,883	29,319	29,136	29,170
Weighted average common shares - dilutive	28,883	29,319	29,136	29,170
Basic net income (loss) per share	$ (1.56)	$ (0.29)	$ (2.19)	$ (0.63)
Diluted net income (loss) per share	$ (1.56)	$ (0.29)	$ (2.19)	$ (0.63)
Anti-dilutive employee stock-based awards, excluded	2,060	2,404	1,968	2,222

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jul. 02, 2023	Jun. 30, 2024	Jul. 02, 2023
Schedule Of Income Taxes [Line Items]
Tax impact	$ 1,029,000	$ (1,192,000)	$ 881,000	$ (2,049,000)
Effective tax rate	(2.30%)	12.20%	(1.40%)	10.10%
Benefit for forecasted tax loss			$ 0
Possible reduction in liabilities for uncertain tax positions	$ 700,000		$ 700,000

Commitments and Contingencies_2

Commitments and Contingencies (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024 USD ($) Claim	Jul. 02, 2023 USD ($)	Jun. 30, 2024 USD ($) Patent Claim	Jul. 02, 2023 USD ($)	Dec. 31, 2023 USD ($)
Loss Contingencies [Line Items]
Non-cancelable purchase commitments with suppliers	$ 71,700		$ 71,700		$ 42,600
Additional purchase orders beyond contractual termination periods	257,700		257,700
Losses incurred related to purchase commitments	$ 5,100	$ 900	$ 6,200	$ 1,400
Number of existing cases and proceedings that the Company currently believes are liking to have a material adverse effect on its financial position | claim | Claim	0		0
The future length the Company currently considered regarding existing cases and proceedings that are likely to have a material adverse effect on it (in months)			12 months
Litigation reserves, net	$ 8,200	$ 0	$ 8,230	$ 0
46 to 60 Days
Loss Contingencies [Line Items]
Percentage of cancelable orders	50%		50%
46 to 60 Days | Minimum
Loss Contingencies [Line Items]
Required notice period prior to expected shipment date			46 days
46 to 60 Days | Maximum
Loss Contingencies [Line Items]
Required notice period prior to expected shipment date			60 days
31 to 45 Days
Loss Contingencies [Line Items]
Percentage of cancelable orders	25%		25%
31 to 45 Days | Minimum
Loss Contingencies [Line Items]
Required notice period prior to expected shipment date			31 days
31 to 45 Days | Maximum
Loss Contingencies [Line Items]
Required notice period prior to expected shipment date			45 days
Non- Trade
Loss Contingencies [Line Items]
Long-term, non-cancellable purchase commitments	$ 11,300		$ 11,300
Huawei v. NETGEAR Inc.
Loss Contingencies [Line Items]
Number of patent infringement cases | Patent			2
Number of patents | Patent			2

Commitments and Contingencies_3

Commitments and Contingencies (Schedule of Changes in Warranty Obligations) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jul. 02, 2023	Jun. 30, 2024	Jul. 02, 2023
Movement in Standard Product Warranty Accrual [Roll Forward]
Balance as of beginning of the period	$ 5,087	$ 6,351	$ 5,738	$ 6,320
Provision for warranty liability made	800	1,260	1,408	2,677
Settlements made	(1,116)	(1,394)	(2,375)	(2,780)
Balance as of the end of the period	$ 4,771	$ 6,217	$ 4,771	$ 6,217

Stockholders' Equity (Narrative

Stockholders' Equity (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2024	Jul. 02, 2023	Jul. 16, 2024
Class of Stock [Line Items]
Shares remaining authorized for repurchase (in shares)	900,000		900,000
Stock repurchased (in shares)			1,600,000
Cost of stock repurchased	$ 10,121	$ 11,444	$ 21,400
RSU withholdings (in shares)			197,000	147,000
RSU withholdings			$ 2,885	$ 2,105
Maximum | Subsequent Event
Class of Stock [Line Items]
Number of shares of common stock authorized to repurchase					3,000,000

Stockholders' Equity (Schedule

Stockholders' Equity (Schedule of Changes in Accumulated Other Comprehensive Income (loss) by Component) (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jul. 02, 2023
Estimated tax benefit (provision)
Beginning balance	$ 3	$ 125
Other comprehensive income (loss) before reclassifications	37	(383)
Less: Amount reclassified from accumulated other comprehensive income (loss)	34	(265)
Net current period other comprehensive income (loss)	3	(118)
Ending balance	6	7
AOCI, after tax
Beginning balance	535,495	620,855
Other comprehensive income (loss) before reclassifications	(368)	1,644
Less: Amount reclassified from accumulated other comprehensive income (loss)	(128)	997
Net current period other comprehensive income (loss)	(240)	647
Ending balance	459,399	612,736
Unrealized gains (losses) on available-for-sale investments
AOCI, before tax
Beginning balance	126	(322)
Other comprehensive income (loss) before reclassifications	(219)	191
Less: Amount reclassified from accumulated other comprehensive income (loss)	0	0
Net current period other comprehensive income (loss)	(219)	191
Ending balance	(93)	(131)
Unrealized gains (losses) on derivatives
AOCI, before tax
Beginning balance	7	(338)
Other comprehensive income (loss) before reclassifications	(186)	1,836
Less: Amount reclassified from accumulated other comprehensive income (loss)	(162)	1,262
Net current period other comprehensive income (loss)	(24)	574
Ending balance	(17)	236
AOCI
AOCI, after tax
Beginning balance	136	(535)
Ending balance	$ (104)	$ 112

Stockholders' Equity (Schedul_2

Stockholders' Equity (Schedule of Reclassifications out of AOCI) (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2024	Jul. 02, 2023	Jun. 30, 2024	Jul. 02, 2023
Reclassification Out of Accumulated Other Comprehensive Income [Line Items]
Net revenue	[1]	$ 143,900	$ 173,413	$ 308,486	$ 354,321
Cost of revenue		112,077	119,113	228,426	239,639
Research and development		19,851	20,831	40,078	42,965
Sales and marketing		29,757	32,482	60,286	66,361
General and administrative		19,186	16,536	37,253	32,772
Tax impact		(1,029)	1,192	(881)	2,049
Total, net of tax		(45,175)	(8,587)	(63,825)	(18,299)
Amount Reclassified from AOCI
Reclassification Out of Accumulated Other Comprehensive Income [Line Items]
Net revenue		(130)	762	(209)	1,451
Cost of revenue		0	(1)	0	(2)
Research and development		(1)	(18)	(2)	(26)
Sales and marketing		33	(59)	42	(142)
General and administrative		(1)	(3)	7	(19)
Total before tax		(99)	681	(162)	1,262
Tax impact		21	(143)	34	(265)
Total, net of tax		$ (78)	$ 538	$ (128)	$ 997
[1] No i ndividual foreign country represented more than 10 % of the Company ’ s total net revenue in the periods presented.

Employee Benefit Plans (Narrati

Employee Benefit Plans (Narrative) (Details) shares in Millions, $ in Millions	6 Months Ended
	Jun. 30, 2024 USD ($) shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total unrecognized compensation | $	$ 45.3
Weighted-average period of recognition of stock based compensation	2 years 6 months
2016 Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares reserved for future grant (in shares)	2
2024 Inducement Equity Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares reserved for future grant (in shares)	0.7
Employee Stock Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares reserved for future grant (in shares)	0.6
Purchase percentage of stock at fair market value (in percentage)	85%
Options and RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting term	4 years
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting term	3 years
Performance Shares | 2024 Inducement Equity Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting term	3 years
Performance Shares | 2024 Inducement Equity Incentive Plan | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage vest of performance shares	0%
Performance Shares | 2024 Inducement Equity Incentive Plan | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage vest of performance shares	150%
Performance Shares | 2016 Plan and 2024 Inducement Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting term	3 years
Performance Shares | 2016 Plan and 2024 Inducement Plan | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage vest of performance shares	0%
Performance Shares | 2016 Plan and 2024 Inducement Plan | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage vest of performance shares	150%

Employee Benefit Plans (Schedul

Employee Benefit Plans (Schedule of Stock Option Activity) (Details) - Employee Stock Option shares in Thousands	6 Months Ended
	Jun. 30, 2024 $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Number of shares, beginning balance (in shares) | shares	866
Number of shares, granted (in shares) | shares	0
Number of shares, exercised (in shares) | shares	0
Number of shares, cancelled (in shares) | shares	0
Number of shares, expired (in shares) | shares	(19)
Number of shares, ending balance (in shares) | shares	847
Beginning balance (in dollars per share) | $ / shares	$ 30.70
Granted (in dollars per share) | $ / shares	0
Exercised (in dollars per share) | $ / shares	0
Cancelled (in dollars per share) | $ / shares	0
Expired (in dollars per share) | $ / shares	19.41
Ending balance (in dollars per share) | $ / shares	$ 30.96

Employee Benefit Plans (Sched_2

Employee Benefit Plans (Schedule of Time-Based RSU Activity) (Details) - Time-Based RSU shares in Thousands	6 Months Ended
	Jun. 30, 2024 $ / shares shares
Number of Shares
Beginning balance (in shares) | shares	1,567
Granted (in shares) | shares	1,463
Vested (in shares) | shares	(658)
Cancelled (in shares) | shares	(126)
Ending balance (in shares) | shares	2,246
Weighted Average Grant Date Fair Value Per Share
Beginning Balance (in dollars per share) | $ / shares	$ 22.83
Granted (in dollars per share) | $ / shares	14.34
Vested (in dollars per share) | $ / shares	22.50
Cancelled (in dollars per share) | $ / shares	20.86
Ending Balance (in dollars per share) | $ / shares	$ 17.35

Employee Benefit Plans (Sched_3

Employee Benefit Plans (Schedule of Performance Shares Activity) (Details) - Performance Shares shares in Thousands	6 Months Ended
	Jun. 30, 2024 $ / shares shares
Number of Shares
Beginning balance (in shares) | shares	417
Granted (in shares) | shares	575
Vested (in shares) | shares	0
Cancelled (in shares) | shares	(332)
Ending balance (in shares) | shares	660
Weighted Average Grant Date Fair Value Per Share
Beginning Balance (in dollars per share) | $ / shares	$ 24.76
Granted (in dollars per share) | $ / shares	20.25
Vested (in dollars per share) | $ / shares	0
Cancelled (in dollars per share) | $ / shares	26.39
Ending Balance (in dollars per share) | $ / shares	$ 20.01

Employee Benefit Plans (Sched_4

Employee Benefit Plans (Schedule of Total Stock-Based Compensation Expense Resulting from Stock Options, RSUs, Time-Based and Performance-Based and the ESPP) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jul. 02, 2023	Jun. 30, 2024	Jul. 02, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation	$ 5,888	$ 4,687	$ 10,432	$ 9,352
Cost of revenue
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation	413	342	778	693
Research and development
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation	844	1,144	1,542	2,209
Sales and marketing
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation	1,235	1,397	2,472	2,828
General and administrative
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation	$ 3,396	$ 1,804	$ 5,640	$ 3,622

Segment Information (Narrative)

Segment Information (Narrative) (Details)	6 Months Ended
	Jun. 30, 2024 Segment
Segment Reporting [Abstract]
Number of operating segments	2
Number of reportable segments	2

Segment Information (Schedule o

Segment Information (Schedule of Reportable Segments and Reconciliation of Segment Contribution Income (Loss) to Income (Loss) Before Income Taxes) (Details) - USD ($) $ in Thousands		3 Months Ended			6 Months Ended
		Jun. 30, 2024	Jul. 02, 2023		Jun. 30, 2024	Jul. 02, 2023
Segment Reporting Information [Line Items]
Total net revenue	[1]	$ 143,900	$ 173,413		$ 308,486	$ 354,321
Total segment contribution income		(11,733)	8,277	[2]	(7,969)	20,578	[2]
Corporate and unallocated costs		(19,350)	(19,011)	[2]	(39,156)	(38,385)	[2]
Amortization of intangibles		0	(128)		0	(257)
Stock-based compensation expense		(5,888)	(4,687)		(10,432)	(9,352)
Restructuring and other charges		(1,688)	(2,229)		(2,720)	(2,337)
Litigation reserves, net		(8,200)	0		(8,230)	0
Other income, net	[3]	2,713	7,999		5,563	9,405
Loss before income taxes		(44,146)	(9,779)		(62,944)	(20,348)
Connected Home
Segment Reporting Information [Line Items]
Total net revenue	[1]	84,033	98,406		179,996	201,152
Total segment contribution income		$ (13,794)	$ (5,373)	[2]	$ (19,934)	$ (7,129)	[2]
Segment contribution margin		(16.40%)	(5.50%)	[2]	(11.10%)	(3.50%)	[2]
NETGEAR for Business
Segment Reporting Information [Line Items]
Total net revenue	[1]	$ 59,867	$ 75,007		$ 128,490	$ 153,169
Total segment contribution income		$ 2,061	$ 13,650	[2]	$ 11,965	$ 27,707	[2]
Segment contribution margin		3.40%	18.20%	[2]	9.30%	18.10%	[2]
[1] No i ndividual foreign country represented more than 10 % of the Company ’ s total net revenue in the periods presented. * F inancial information for each reportable segment in the prior year periods were recast to conform to the current reportable segment structure. (1) Amounts included gain/(loss), net from derivatives not designated as hedging instruments of $ 0.6 million and $ 2.1 million, for the three and six months ended June 30, 2024, respectively, and $ 1.0 million and $ 0.9 million, for the three and six months ended July 2, 2023, respectively, and gain/(loss), net from litigation settlements of $ 6.0 million for the three and six months ended July 2, 2023, respectively .

Segment Information (Schedule_2

Segment Information (Schedule of Reportable Segments and Reconciliation of Segment Contribution Income (Loss) to Income (Loss) Before Income Taxes) (Parenthetical) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jul. 02, 2023	Jun. 30, 2024	Jul. 02, 2023
Segment Reporting [Abstract]
Gain/(loss), net from derivatives not designated as hedging instruments	$ 0.6	$ 1	$ 2.1	$ 0.9
Amount from litigation settlements		$ 6		$ 6

Segment Information (Schedule_3

Segment Information (Schedule of Net Revenue by Geographic Areas) (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2024	Jul. 02, 2023	Jun. 30, 2024	Jul. 02, 2023
Segment Reporting Information [Line Items]
Total net revenue	[1]	$ 143,900	$ 173,413	$ 308,486	$ 354,321
United States (U.S.)
Segment Reporting Information [Line Items]
Total net revenue		92,794	112,961	200,083	230,759
Americas (excluding U.S.)
Segment Reporting Information [Line Items]
Total net revenue		2,709	3,650	5,348	7,774
EMEA
Segment Reporting Information [Line Items]
Total net revenue	[1],[2]	27,355	36,161	58,542	75,339
APAC
Segment Reporting Information [Line Items]
Total net revenue	[2]	$ 21,042	$ 20,641	$ 44,513	$ 40,449
[1] No i ndividual foreign country represented more than 10 % of the Company ’ s total net revenue in the periods presented. No in dividual foreign country represented more than 10 % of the Company’s total net revenue in the periods presented.

Segment Information (Schedule_4

Segment Information (Schedule of Net Revenue by Geographic Areas) (Parenthetical) (Details) - Maximum	6 Months Ended
	Jun. 30, 2024	Jul. 02, 2023
Revenues From External Customers And Long Lived Assets [Line Items]
Percentage of net revenue	10%
EMEA
Revenues From External Customers And Long Lived Assets [Line Items]
Percentage of net revenue	10%	10%
APAC
Revenues From External Customers And Long Lived Assets [Line Items]
Percentage of net revenue	10%	10%

Segment Information (Schedule_5

Segment Information (Schedule of Long-Lived Asset by Geographic Region) (Details) - USD ($) $ in Thousands		Jun. 30, 2024	Dec. 31, 2023
Revenues from External Customers and Long-Lived Assets [Line Items]
Total		$ 44,435	$ 45,558
United States (U.S.)
Revenues from External Customers and Long-Lived Assets [Line Items]
Total		22,079	25,051
Canada
Revenues from External Customers and Long-Lived Assets [Line Items]
Total		5,496	4,714
Americas (excluding U.S. and Canada)
Revenues from External Customers and Long-Lived Assets [Line Items]
Total		52	68
EMEA
Revenues from External Customers and Long-Lived Assets [Line Items]
Total		3,425	3,739
Singapore
Revenues from External Customers and Long-Lived Assets [Line Items]
Total		5,648	6,218
APAC (excluding Singapore)
Revenues from External Customers and Long-Lived Assets [Line Items]
Total	[1]	$ 7,735	$ 5,768
[1] No individual country represented more than 10 % of the Company’s total long-lived assets in the periods presented.

Segment Information (Schedule_6

Segment Information (Schedule of Long-Lived Asset by Geographic Region) (Parenthetical) (Details)	6 Months Ended	12 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Maximum | APAC (excluding Singapore)
Revenues From External Customers And Long Lived Assets [Line Items]
Percentage of total long-lived assets owned	10%	10%

Fair Value Measurements (Summar

Fair Value Measurements (Summary of Valuation of Company's Financial Instruments by Various Levels) (Details) - USD ($) $ in Thousands		Jun. 30, 2024	Dec. 31, 2023
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assets measured at fair value		$ 146,854	$ 133,208
Liabilities measured at fair value		213	1,691
Quoted market prices in active markets (Level 1)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assets measured at fair value		38,369	34,290
Liabilities measured at fair value		0	0
Significant other observable inputs (Level 2)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assets measured at fair value		108,485	98,918
Liabilities measured at fair value		213	1,691
Cash Equivalents
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assets measured at fair value		29,385	25,986
Cash Equivalents | Quoted market prices in active markets (Level 1)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assets measured at fair value		29,385	25,986
Cash Equivalents | Significant other observable inputs (Level 2)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assets measured at fair value		0	0
Trading securities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assets measured at fair value	[1]	8,722	8,304
Trading securities | Quoted market prices in active markets (Level 1)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assets measured at fair value	[1]	8,722	8,304
Trading securities | Significant other observable inputs (Level 2)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assets measured at fair value	[1]	0	0
Available-for-sale Investments | U.S. Treasury Securities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assets measured at fair value	[1]	108,250	98,454
Available-for-sale Investments | U.S. Treasury Securities | Quoted market prices in active markets (Level 1)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assets measured at fair value	[1]	0	0
Available-for-sale Investments | U.S. Treasury Securities | Significant other observable inputs (Level 2)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assets measured at fair value	[1]	108,250	98,454
Available For Sale Investments Convertible Debt Securities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assets measured at fair value	[1]	262	173
Available For Sale Investments Convertible Debt Securities | Quoted market prices in active markets (Level 1)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assets measured at fair value	[1]		0
Available For Sale Investments Convertible Debt Securities | Significant other observable inputs (Level 2)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assets measured at fair value	[1]		173
Available For Sale Investments Corporate Equity Securities | Quoted market prices in active markets (Level 1)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assets measured at fair value	[1]	262
Available For Sale Investments Corporate Equity Securities | Significant other observable inputs (Level 2)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assets measured at fair value	[1]	0
Foreign currency forward contracts
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assets measured at fair value	[2]	235	291
Liabilities measured at fair value	[3]	213	1,691
Foreign currency forward contracts | Quoted market prices in active markets (Level 1)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assets measured at fair value	[2]	0	0
Liabilities measured at fair value	[3]	0	0
Foreign currency forward contracts | Significant other observable inputs (Level 2)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assets measured at fair value	[2]	235	291
Liabilities measured at fair value	[3]	$ 213	$ 1,691
[1] Included in Short-term investments on the Company’s unaudited condensed consolidated balance sheets. Included in Prepaid expenses and other current assets on the Company’s unaudited condensed consolidated balance sheets. Included in Other accrued liabilities on the Company's unaudited condensed consolidated balance sheets.

Fair Value Measurements (Summ_2

Fair Value Measurements (Summary of Valuation of Company's Financial Instruments by Various Levels) (Parenthetical) (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Short-term investments	$ 117,235	$ 106,931
Other non-current assets	$ 15,800	$ 17,326

Restructuring and Other Charg_3

Restructuring and Other Charges (Summary of Activity Related to Accrued Restructuring and Other Charges ) (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jul. 02, 2023
Restructuring Cost and Reserve [Line Items]
Beginning balance	$ 287	$ 1,912
Additions	2,720	2,403
Cash payments	(2,225)	(3,505)
Adjustments	(160)	(37)
Ending balance	622	773
Employee Termination Charges
Restructuring Cost and Reserve [Line Items]
Beginning balance	257	1,912
Additions	2,504	2,396
Cash payments	(2,139)	(3,505)
Adjustments	0	(37)
Ending balance	622	766
Lease Contract Termination and Other Charges
Restructuring Cost and Reserve [Line Items]
Beginning balance	30	0
Additions	216	7
Cash payments	(86)	0
Adjustments	(160)	0
Ending balance	$ 0	$ 7