Document and Entity Information
| Document and Entity Information - shares | 6 Months Ended | |
| Jun. 27, 2020 | Jul. 25, 2020 | |
| Entity Information [Line Items] | ||
| Document Type | 10-Q | |
| Document Period End Date | Jun. 27, 2020 | |
| Document Quarterly Report | true | |
| Document Transition Report | false | |
| Entity Central Index Key | 0001159167 | |
| Entity File Number | 001-36414 | |
| Entity Registrant Name | iROBOT CORPORATION | |
| Entity Incorporation, State or Country Code | DE | |
| Entity Tax Identification Number | 77-0259335 | |
| Amendment Flag | false | |
| Entity Address, Address Line One | 8 Crosby Drive | |
| Entity Address, City or Town | Bedford | |
| Entity Address, State or Province | MA | |
| Entity Address, Postal Zip Code | 01730 | |
| City Area Code | 781 | |
| Local Phone Number | 430-3000 | |
| Title of 12(b) Security | Common Stock, $0.01 par value | |
| Trading Symbol | IRBT | |
| Security Exchange Name | NASDAQ | |
| Document Fiscal Year Focus | 2020 | |
| Document Fiscal Period Focus | Q2 | |
| Current Fiscal Year End Date | --01-02 | |
| Entity Shell Company | false | |
| Entity Small Business | false | |
| Entity Emerging Growth Company | false | |
| Entity Current Reporting Status | Yes | |
| Entity Interactive Data Current | Yes | |
| Entity Filer Category | Large Accelerated Filer | |
| Entity Common Stock, Shares Outstanding | 28,005,989 |
Consolidated Balance Sheets (Un
| Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands | Jun. 27, 2020 | Dec. 28, 2019 |
| Current assets: | ||
| Cash and cash equivalents | $ 230,734 | $ 239,392 |
| Short term investments | 11,560 | 17,032 |
| Accounts receivable, net | 128,334 | 146,161 |
| Inventory | 133,055 | 157,347 |
| Other current assets | 92,555 | 34,285 |
| Total current assets | 596,238 | 594,217 |
| Property and equipment, net | 78,432 | 75,988 |
| Operating lease right-of-use assets | 45,978 | 47,478 |
| Deferred tax assets | 39,237 | 41,791 |
| Goodwill | 119,521 | 118,732 |
| Intangible assets, net | 10,424 | 12,352 |
| Other assets | 30,938 | 30,195 |
| Total assets | 920,768 | 920,753 |
| Current liabilities: | ||
| Accounts payable | 95,522 | 116,185 |
| Accrued expenses | 73,745 | 81,768 |
| Deferred revenue and customer advances | 3,512 | 4,549 |
| Total current liabilities | 172,779 | 202,502 |
| Operating lease liabilities | 52,819 | 54,928 |
| Deferred tax liabilities | 1,042 | 912 |
| Other long-term liabilities | 12,066 | 10,342 |
| Total long-term liabilities | 65,927 | 66,182 |
| Total liabilities | 238,706 | 268,684 |
| Commitments and contingencies (Note 11) | ||
| Preferred stock, 5,000 shares authorized and none outstanding | 0 | 0 |
| Common stock, $0.01 par value, 100,000 shares authorized; 27,998 and 28,352 shares issued and outstanding, respectively | 280 | 284 |
| Additional paid-in capital | 184,436 | 196,455 |
| Retained earnings | 492,802 | 452,321 |
| Accumulated other comprehensive income | 4,544 | 3,009 |
| Total stockholders’ equity | 682,062 | 652,069 |
| Total liabilities and stockholders’ equity | $ 920,768 | $ 920,753 |
Consolidated Balance Sheets (_2
| Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares | Jun. 27, 2020 | Dec. 28, 2019 |
| Preferred stock, shares authorized | 5,000,000 | 5,000,000 |
| Preferred stock, shares outstanding | ||
| Common stock, par value | $ 0.01 | $ 0.01 |
| Common stock, shares authorized | 100,000,000 | 100,000,000 |
| Common stock, shares issued | 27,998,000 | 28,352,000 |
| Common stock, shares outstanding | 27,998,000 | 28,352,000 |
Consolidated Statements of Inco
| Consolidated Statements of Income Statement - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
| Jun. 27, 2020 | Jun. 29, 2019 | Jun. 27, 2020 | Jun. 29, 2019 | |
| Revenue | $ 279,883 | $ 260,172 | $ 472,418 | $ 497,833 |
| Cost of product revenue | 100,686 | 138,891 | 214,981 | 253,929 |
| Amortization of acquired intangible assets | 1,185 | 3,111 | 1,470 | 6,188 |
| Total cost of revenue | 101,871 | 142,002 | 216,451 | 260,117 |
| Gross profit | 178,012 | 118,170 | 255,967 | 237,716 |
| Research and development | 36,557 | 35,650 | 73,316 | 70,919 |
| Selling and marketing | 49,062 | 56,409 | 85,656 | 95,245 |
| General and administrative | 21,856 | 20,592 | 46,429 | 43,499 |
| Amortization of acquired intangible assets | 254 | 269 | 508 | 540 |
| Total operating expenses | 107,729 | 112,920 | 205,909 | 210,203 |
| Operating income | 70,283 | 5,250 | 50,058 | 27,513 |
| Other (expense) income, net | (384) | 1,533 | (403) | 2,813 |
| Income before income taxes | 69,899 | 6,783 | 49,655 | 30,326 |
| Income tax expense (benefit) | 11,283 | (424) | 9,174 | 599 |
| Net income | $ 58,616 | $ 7,207 | $ 40,481 | $ 29,727 |
| Basic | $ 2.10 | $ 0.26 | $ 1.44 | $ 1.06 |
| Diluted | $ 2.07 | $ 0.25 | $ 1.42 | $ 1.03 |
| Basic | 27,923 | 28,079 | 28,110 | 27,970 |
| Diluted | 28,280 | 28,763 | 28,414 | 28,779 |
Consolidated Statements of Comp
| Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
| Jun. 27, 2020 | Jun. 29, 2019 | Jun. 27, 2020 | Jun. 29, 2019 | |
| Net income | $ 58,616 | $ 7,207 | $ 40,481 | $ 29,727 |
| Other comprehensive income (loss): | ||||
| Net foreign currency translation adjustments | 2,178 | 1,794 | 1,264 | (676) |
| Net unrealized (losses) gains on cash flow hedges, net of tax | (2,634) | (1,540) | 3,040 | 3,261 |
| Net (gains) losses on cash flow hedge reclassified into earnings, net of tax | (1,321) | (267) | (2,789) | (161) |
| Net unrealized gains on marketable securities, net of tax | 37 | 95 | 20 | 208 |
| Total comprehensive income | $ 56,876 | $ 7,289 | $ 42,016 | $ 32,359 |
Consolidated Statement of Share
| Consolidated Statement of Shareholders' Equity Statement - USD ($) $ in Thousands | Total | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] |
| Beginning Balance, Shares | 27,788,000 | ||||
| Beginning balance | $ 535,322 | $ 278 | $ 172,771 | $ 367,021 | $ (4,748) |
| Issuance of common stock under employee stock plans (in shares) | 116,000 | ||||
| Stock Issued During Period, Value, Stock Options Exercised | 4,680 | $ 1 | 4,679 | ||
| Stock Issued During Period, Shares, Restricted Stock Award, Net of Forfeitures (in shares) | 278,000 | ||||
| Stock Issued During Period, Value, Restricted Stock Award, Net of Forfeitures | 0 | $ 3 | (3) | ||
| APIC, Share-based Payment Arrangement, Increase for Cost Recognition | 14,458 | 14,458 | |||
| Shares Paid for Tax Withholding for Share Based Compensation (in shares) | (59,000) | ||||
| Stock Withheld to Cover Tax Withholding Requirements Upon Vesting to Restricted Stock Units Amount | (7,277) | $ (1) | (7,276) | ||
| Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent | 2,632 | 2,632 | |||
| Adjustments to Additional Paid in Capital Directors Deferred Compensation | 34 | 34 | |||
| Net income | 29,727 | 29,727 | |||
| Beginning Balance, Shares | 28,038,000 | ||||
| Beginning balance | $ 562,623 | $ 280 | 175,000 | 389,541 | (2,198) |
| Issuance of common stock under employee stock plans (in shares) | 2,117,000 | 39,000 | |||
| Stock Issued During Period, Value, Stock Options Exercised | $ 0 | 2,117 | |||
| Stock Issued During Period, Shares, Restricted Stock Award, Net of Forfeitures (in shares) | 47,000 | ||||
| Stock Issued During Period, Value, Restricted Stock Award, Net of Forfeitures | $ 0 | $ 1 | (1) | ||
| APIC, Share-based Payment Arrangement, Increase for Cost Recognition | 7,594 | 7,594 | |||
| Shares Paid for Tax Withholding for Share Based Compensation (in shares) | (1,000) | ||||
| Stock Withheld to Cover Tax Withholding Requirements Upon Vesting to Restricted Stock Units Amount | (65) | $ 0 | (65) | ||
| Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent | 82 | ||||
| Adjustments to Additional Paid in Capital Directors Deferred Compensation | 18 | 18 | |||
| Net income | 7,207 | 7,207 | |||
| Beginning Balance, Shares | 28,123,000 | ||||
| Beginning balance | $ 579,576 | $ 281 | 184,663 | 396,748 | (2,116) |
| Beginning Balance, Shares | 28,352,000 | 28,352,000 | |||
| Beginning balance | $ 652,069 | $ 284 | 196,455 | 452,321 | 3,009 |
| Stock Repurchased and Retired During Period, Shares | (663,602) | ||||
| Stock Repurchased and Retired During Period, Value | $ (25,000) | ||||
| Issuance of common stock under employee stock plans (in shares) | 112,000 | ||||
| Stock Issued During Period, Value, Stock Options Exercised | 3,690 | $ 1 | 3,689 | ||
| Stock Issued During Period, Shares, Restricted Stock Award, Net of Forfeitures (in shares) | 243,000 | ||||
| Stock Issued During Period, Value, Restricted Stock Award, Net of Forfeitures | 0 | $ 2 | (2) | ||
| APIC, Share-based Payment Arrangement, Increase for Cost Recognition | 11,061 | 11,061 | |||
| Shares Paid for Tax Withholding for Share Based Compensation (in shares) | (45,000) | ||||
| Stock Withheld to Cover Tax Withholding Requirements Upon Vesting to Restricted Stock Units Amount | (1,816) | $ 0 | (1,816) | ||
| Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent | 1,535 | 1,535 | |||
| Adjustments to Additional Paid in Capital Directors Deferred Compensation | 42 | 42 | |||
| Net income | $ 40,481 | 40,481 | |||
| Stock Repurchased and Retired During Period, Shares | (664,000) | ||||
| Stock Repurchased and Retired During Period, Value | $ (25,000) | $ (7) | (24,993) | ||
| Beginning Balance, Shares | 27,876,000 | ||||
| Beginning balance | 616,539 | $ 279 | 175,790 | 434,186 | 6,284 |
| Issuance of common stock under employee stock plans (in shares) | 72,000 | ||||
| Stock Issued During Period, Value, Stock Options Exercised | 2,756 | $ 1 | 2,755 | ||
| Stock Issued During Period, Shares, Restricted Stock Award, Net of Forfeitures (in shares) | 50,000 | ||||
| Stock Issued During Period, Value, Restricted Stock Award, Net of Forfeitures | 0 | $ 0 | 0 | ||
| APIC, Share-based Payment Arrangement, Increase for Cost Recognition | 5,870 | 5,870 | |||
| Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent | (1,740) | (1,740) | |||
| Adjustments to Additional Paid in Capital Directors Deferred Compensation | 21 | 21 | |||
| Net income | $ 58,616 | 58,616 | |||
| Beginning Balance, Shares | 27,998,000 | 27,998,000 | |||
| Beginning balance | $ 682,062 | $ 280 | $ 184,436 | $ 492,802 | $ 4,544 |
Consolidated Statements of Cash
| Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 6 Months Ended | |
| Jun. 27, 2020 | Jun. 29, 2019 | |
| Cash flows from operating activities: | ||
| Net income | $ 40,481 | $ 29,727 |
| Adjustments to reconcile net income to net cash provided by operating activities, net of the effects of acquisition: | ||
| Depreciation and amortization | 17,784 | 17,905 |
| Stock-based compensation | 11,061 | 14,458 |
| Deferred income taxes, net | 2,579 | 535 |
| Other | 3,162 | 3,106 |
| Changes in operating assets and liabilities — (use) source | ||
| Accounts receivable | 17,891 | 67,808 |
| Inventory | 24,137 | (27,112) |
| Other current assets | (57,813) | (14,246) |
| Accounts payable | (20,576) | (52,835) |
| Accrued expenses and other liabilities | (10,549) | (18,043) |
| Net cash provided by operating activities | 28,157 | 21,303 |
| Cash flows from investing activities: | ||
| Additions of property and equipment | (18,968) | (14,705) |
| Change in other assets | (2,125) | (4,541) |
| Cash paid for business acquisition, net of cash acquired | 0 | (2,817) |
| Sales and maturities of investments | 7,000 | 5,880 |
| Net cash used in investing activities | (14,093) | (16,183) |
| Cash flows from financing activities: | ||
| Proceeds from employee stock plans | 3,690 | 4,680 |
| Income tax withholding payment associated with restricted stock vesting | (1,816) | (7,277) |
| Stock repurchases | 25,000 | 0 |
| Net cash used in financing activities | (23,126) | (2,597) |
| Effect of exchange rate changes on cash and cash equivalents | 404 | (101) |
| Net (decrease) increase in cash and cash equivalents | (8,658) | 2,422 |
| Cash and cash equivalents, at beginning of period | 239,392 | 130,373 |
| Cash and cash equivalents, at end of period | $ 230,734 | $ 132,795 |
Description of Business
| Description of Business | 6 Months Ended |
| Jun. 27, 2020 | |
| Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
| Description of Business | Description of BusinessiRobot Corporation ("iRobot" or the "Company") designs and builds robots that empower people to do more both inside and outside of the home. iRobot's consumer robots help people find smarter ways to clean and accomplish more in their daily lives. The Company's portfolio of solutions features proprietary technologies for the connected home and advanced concepts in cleaning, mapping and navigation, human-robot interaction and physical solutions. Leveraging this portfolio, our engineers are building an ecosystem of robots to empower the smart home. The Company’s revenue is primarily generated from product sales through a variety of distribution channels, including chain stores and other national retailers, through its on-line stores, and through value-added distributors and resellers worldwide. |
Summary of Significant Accounti
| Summary of Significant Accounting Policies | 3 Months Ended | 6 Months Ended |
| Jun. 27, 2020 | Jun. 27, 2020 | |
| Accounting Policies [Abstract] | ||
| Summary of Significant Accounting Policies | Summary of Significant Accounting Policies Basis of Presentation The accompanying consolidated financial statements include those of iRobot and its subsidiaries, after elimination of all intercompany balances and transactions. iRobot has prepared the accompanying unaudited consolidated financial statements in conformity with accounting principles generally accepted in the United States of America ("GAAP"). In the opinion of management, all adjustments necessary to the unaudited interim consolidated financial statements have been made to state fairly the Company's financial position. Interim results are not necessarily indicative of results for the full fiscal year or any future periods. The information included in this Form 10-Q should be read in conjunction with the Company's audited consolidated financial statements and notes thereto included in its Annual Report on Form 10-K for the fiscal year ended December 28, 2019 , filed with the Securities and Exchange Commission on February 13, 2020 . The Company operates and reports using a 52-53 week fiscal year ending on the Saturday closest to December 31. Accordingly, the Company’s fiscal quarters end on the Saturday that falls closest to the last day of the third month of each quarter. Recently Adopted Accounting Standards In June 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2016-13, "Measurement of Credit Losses on Financial Instruments," which amends the impairment model by requiring entities to use a forward-looking approach based on expected losses rather than incurred losses to estimate credit losses on certain types of financial instruments. The Company adopted the standard effective December 29, 2019 which resulted in no adjustment to the allowance for credit losses upon adoption. See the description of the Company’s "Credit Losses" accounting policy below. In August 2018, the FASB issued ASU No. 2018-13, "Fair Value Measurement: Disclosure Framework—Changes to the Disclosure Requirements for Fair Value Measurement." The amendment modifies disclosure requirements related to fair value measurement. The Company adopted this standard effective December 29, 2019 which did not have a material impact on the Company's consolidated financial statements and related disclosures. In August 2018, the FASB issued ASU No. 2018-15, "Intangibles - Goodwill and Other - Internal-Use Software." The new standard aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software (and hosting arrangements that include an internal use software license). The Company adopted the standard using the prospective method effective December 29, 2019 which did not have a material impact on the Company's consolidated financial statements. Recently Issued Accounting Standards In December 2019, the FASB issued ASU No. 2019-12, "Income Taxes - Simplifying the Accounting for Income Taxes." The ASU simplifies the accounting for income taxes by removing certain exceptions to the general principles as well as clarifying and amending existing guidance to improve consistent application. The amendments to this ASU are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2020, with early adoption permitted. Depending on the amendment, adoption may be applied on the retrospective, modified retrospective or prospective basis. The Company intends to adopt the ASU effective January 3, 2021, and is currently evaluating the impact to the consolidated financial statements. From time to time, new accounting pronouncements are issued by FASB that are adopted by the Company as of the specified effective date. Unless otherwise discussed, the Company believes that recently issued standards, which are not yet effective, will not have a material impact on the Company’s consolidated financial statements upon adoption. Impact of COVID-19 The global pandemic related to the novel coronavirus (COVID-19) has resulted in significant economic disruption. The pandemic and associated actions and measures implemented by governments around the world to slow the spread of COVID-19 have altered macroeconomic conditions and created recession-like environments around the world. These dynamics have had an adverse impact on the Company's financial and operating results. At the same time, mandated orders to "shelter-in-place" and other social distancing measures have directly and indirectly affected sales and supply chain activities. The Company observed increased demand during the second quarter of 2020 as maintaining a clean home has taken on greater prominence during the pandemic with sell-through momentum building globally over the past several months. However, the Company expects to continue to be impacted as the situation remains dynamic and subject to rapid and possibly material changes. Additional impacts may arise of which the Company is not currently aware. The nature and extent of such impacts will depend on future developments, which are still highly uncertain. The Company will continue to actively monitor the situation and may take further actions that alter the business operations as may be required by federal, state, local or foreign authorities, or that the Company determines are in the best interests of its employees, customers, and stockholders. In light of the COVID-19 pandemic, the Company evaluated its assets for impairment, including strategic investments, goodwill and long-lived assets. The Company considered the current and expected future economic and market conditions and determined that no impairment existed as of June 27, 2020. However, the Company is unable to predict how long the pandemic will persist or the timing and speed of any economic recovery that may follow. Any measures that prolong shelter-in-place or restrict business activities are highly likely to be harmful to the consumer product retail industry in general, and consequently, to the Company's business. Use of Estimates The preparation of these financial statements in conformity with GAAP requires the Company to make estimates and assumptions that affect the reported amounts of assets and liabilities and revenues and expenses. These estimates and judgments include, but are not limited to, revenue recognition, including performance obligations, variable consideration and other obligations such as product returns and incentives; allowance for credit losses; warranty costs; valuation of goodwill and acquired intangible assets; valuation of financial instruments; evaluating loss contingencies; accounting for stock-based compensation including performance-based assessments; and accounting for income taxes and related valuation allowances. The Company bases these estimates and judgments on historical experience, market participant fair value considerations, projected future cash flows and various other factors that the Company believes are reasonable under the circumstances. Actual results may differ from the Company’s estimates. Credit Losses The Company is exposed to credit losses primarily through sales of its products. The Company assesses each customer's ability to pay by conducting a credit review which includes consideration of established credit ratings or an internal assessment of the customer's creditworthiness based on an analysis of their financial information when a credit rating is not available. The Company monitors the credit exposure through active review of customer balances. The Company's expected loss methodology for accounts receivable is developed using historical collection experience, current customer credit ratings, current and future economic and market conditions and a review of the current status of customers' account balances. Although the Company historically has not experienced significant credit losses as it relates to trade accounts receivable, the COVID-19 pandemic has caused uncertainty in some customer accounts. The Company recorded its estimate of credit losses, resulting in an increase to the reserve and bad debt expense, of $0.0 million and $4.5 million during the three and six months ended June 27, 2020 , respectively. As of June 27, 2020 and December 28, 2019 , the Company had an allowance for credit losses of $5.7 million and $1.2 million , respectively. The Company's exposure to credit losses may increase if its customers are adversely affected by changes in economic pressures or uncertainty associated with local or global economic recessions or other customer-specific factors. It is possible that there could be a material adverse impact to the carrying amount of accounts receivables if the liquidity of retailers, resellers and distributors continues to be impacted by disruptions related to the COVID-19 pandemic. Tariff Refunds On April 24, 2020, the Company was granted a temporary exclusion from Section 301 List 3 tariffs by the United States Trade Representative. This exclusion eliminates the 25% tariff on Roomba products until August 7, 2020 and entitles the Company to a refund of approximately $57.2 million in tariffs paid since the date the Section 301 List 3 tariffs were imposed. The Section 301 tariffs from which these products are now excluded were implemented at 10% beginning in September 2018 and increased to 25% in June 2019. While tariff refund claims are subject to the approval of U.S. Customs, the Company currently expects to recover the entire balance of $57.2 million . During the three months ended June 27, 2020, the Company recognized approximately $48.7 million of operating income (reduction to cost of product revenue) related to tariff refunds while $8.5 million relates to product on hand and has been recognized as reductions to inventory. All tariff refunds are expected to be received within the next twelve months and are recorded in other current assets on the consolidated balance sheet. As of June 27, 2020, the outstanding tariff refund was approximately $56.7 million . Other Assets The Company holds non-marketable equity securities as part of its strategic investments portfolio. The Company classifies the majority of these securities as equity securities without readily determinable fair values and measures these investments at cost, less any impairment, adjusted for observable price changes. At June 27, 2020 and December 28, 2019 , other assets consisted primarily of equity securities without readily determinable fair values and an equity method investment totaling $21.7 million and $21.0 million , respectively. On July 1, 2020, Teladoc Health, Inc. closed on its previously announced acquisition of InTouch Health, of which the Company held non-marketable equity securities. In exchange for its shares of InTouch Health, the Company received 0.2 million shares of Teledoc and will record a gain of approximately $38.6 million to other (expense) income, net during the third quarter of 2020. The Teledoc shares received are subject to time based contractual sales restrictions which expire in January 2021. These shares will be accounted for as marketable equity securities and measured at fair value with unrealized gains and losses recognized in other (expense) income, net at the end of each reporting period. As a result, the Company entered into an economic hedge in July 2020 to reduce the Company's exposure to stock price fluctuations during the restricted period. Net Income Per Share Basic income per share is calculated using the Company's weighted-average outstanding common shares. Diluted income per share is calculated using the Company's weighted-average outstanding common shares including the dilutive effect of stock awards as determined under the treasury stock method. The following table presents the calculation of both basic and diluted net income per share (in thousands, except per share amounts): Three Months Ended Six Months Ended June 27, 2020 June 29, 2019 June 27, 2020 June 29, 2019 Net income $ 58,616 $ 7,207 $ 40,481 $ 29,727 Basic weighted-average common shares outstanding 27,923 28,079 28,110 27,970 Dilutive effect of employee stock awards 357 684 304 809 Diluted weighted-average common shares outstanding 28,280 28,763 28,414 28,779 Net income per share - Basic $ 2.10 $ 0.26 $ 1.44 $ 1.06 Net income per share - Diluted $ 2.07 $ 0.25 $ 1.42 $ 1.03 Employee stock awards representing approximately 0.2 million shares of common stock for the three months ended June 27, 2020 and June 29, 2019 , and approximately 0.3 million and 0.1 million shares of common stock for the six months ended June 27, 2020 and June 29, 2019 | |
| Unusual Risks and Uncertainties [Table Text Block] | Impact of COVID-19 The global pandemic related to the novel coronavirus (COVID-19) has resulted in significant economic disruption. The pandemic and associated actions and measures implemented by governments around the world to slow the spread of COVID-19 have altered macroeconomic conditions and created recession-like environments around the world. These dynamics have had an adverse impact on the Company's financial and operating results. At the same time, mandated orders to "shelter-in-place" and other social distancing measures have directly and indirectly affected sales and supply chain activities. The Company observed increased demand during the second quarter of 2020 as maintaining a clean home has taken on greater prominence during the pandemic with sell-through momentum building globally over the past several months. However, the Company expects to continue to be impacted as the situation remains dynamic and subject to rapid and possibly material changes. Additional impacts may arise of which the Company is not currently aware. The nature and extent of such impacts will depend on future developments, which are still highly uncertain. The Company will continue to actively monitor the situation and may take further actions that alter the business operations as may be required by federal, state, local or foreign authorities, or that the Company determines are in the best interests of its employees, customers, and stockholders. In light of the COVID-19 pandemic, the Company evaluated its assets for impairment, including strategic investments, goodwill and long-lived assets. The Company considered the current and expected future economic and market conditions and determined that no impairment existed as of June 27, 2020. However, the Company is unable to predict how long the pandemic will persist or the timing and speed of any economic recovery that may follow. Any measures that prolong shelter-in-place or restrict business activities are highly likely to be harmful to the consumer product retail industry in general, and consequently, to the Company's business. |
Revenue Recognition (Notes)
| Revenue Recognition (Notes) | 6 Months Ended |
| Jun. 27, 2020 | |
| Revenue Recognition and Deferred Revenue [Abstract] | |
| Revenue from Contract with Customer [Text Block] | Revenue Recognition The Company primarily derives its revenue from product sales. The Company sells products directly to consumers through on-line stores and indirectly through resellers and distributors. Revenue is recognized upon transfer of control of promised products or services to customers, generally as title and risk of loss passes, in an amount that reflects the consideration the Company expects to receive in exchange for those products or services. Revenue is recognized only to the extent that it is probable that a significant reversal of revenue will not occur. Taxes collected from customers, which are subsequently remitted to governmental authorities, are excluded from revenue. Shipping and handling expenses are considered fulfillment activities and are expensed as incurred. The Company’s product portfolio includes various consumer robots, many of which are Wi-Fi connected. The consumer robots are generally highly dependent on, and interrelated with, the embedded software and cannot function without the software. As such, the consumer robots are accounted for as a single performance obligation, and the revenue is recognized at a point in time when the control is transferred to distributors, resellers or directly to end customers through on-line stores. For certain consumer robots with Wi-Fi capability ("connected robots"), each sale represents an arrangement with multiple promises consisting of the robot, an app, cloud services and potential future unspecified software upgrades. The Company has determined that the app, cloud services and potential future unspecified software upgrades represent one promised service to the customer to enhance the functionality and interaction with the robot (referred to collectively as "Cloud Services"). For contracts that contain multiple performance obligations, the transaction price is allocated to each performance obligation based on a relative standalone selling price ("SSP"). The SSP reflects the Company's best estimate of what the selling prices of performance obligations would be if they were sold regularly on a standalone basis. Revenue allocated to the robots is recognized at a point in time when control is transferred. Revenue allocated to the Cloud Services is deferred and recognized on a straight-line basis over the estimated period the software upgrades and services are expected to be provided. For contracts with a duration of greater than one year, the transaction price allocated to performance obligations that are unsatisfied as of June 27, 2020 is $5.3 million . The Company does not disclose the value of unsatisfied performance obligations for contracts with an original expected duration of one year or less. The Company’s products generally carry a one-year or two-year limited warranty that promises customers that delivered products are as specified. The Company does not consider these assurance-type warranties as a separate performance obligation and therefore, the Company accounts for such warranties under ASC 460, "Guarantees." The Company provides limited rights of returns for direct-to-consumer sales generated through its on-line stores and certain resellers and distributors. The Company records an allowance for product returns based on specific terms and conditions included in the customer agreements or based on historical experience and the Company's expectation of future returns. In addition, the Company may provide other credits or incentives which are accounted for as variable consideration when estimating the amount of revenue to recognize. Where appropriate, these estimates take into consideration relevant factors such as the Company’s historical experience, current contractual requirements, specific known market events and forecasted inventory level in the channels. Overall, these reserves reflect the Company’s best estimates, and the actual amounts of consideration ultimately received may differ from the Company’s estimates. Returns and credits are estimated at contract inception and updated at the end of each reporting period as additional information becomes available and only to the extent that it is probable that a significant reversal of any incremental revenue will not occur. As of June 27, 2020 , the Company has reserves for product returns of $49.2 million and other credits and incentives of $76.6 million . As of December 28, 2019 , the Company had reserves for product returns of $55.2 million and other credits and incentives of $134.0 million . Revenue recognized during the three and six months ended June 27, 2020 related to performance obligations satisfied in a prior period was not material. Disaggregation of Revenue The following table provides information about disaggregated revenue by geographical region (in thousands): Three Months Ended Six Months Ended June 27, 2020 June 29, 2019 June 27, 2020 June 29, 2019 United States $ 140,146 $ 124,472 $ 222,113 $ 238,537 EMEA 71,048 82,893 137,707 157,462 Other 68,689 52,807 112,598 101,834 Total revenue $ 279,883 $ 260,172 $ 472,418 $ 497,833 Contract Balances The following table provides information about receivables and contract liabilities from contracts with customers (in thousands): June 27, 2020 December 28, 2019 Accounts receivable, net $ 128,334 $ 146,161 Contract liabilities 6,578 6,991 The Company invoices customers based upon contractual billing schedules, and accounts receivable are recorded when the right to consideration becomes unconditional. Contract liabilities include customer deposits which relate to prepayments received from customers in advance of product shipments as well as deferred revenue associated with the Cloud Services. The change in the opening and closing balances of the Company’s contract assets and contract liabilities primarily results from the timing difference between the Company’s performance and the customer’s payment. During the three months ended June 27, 2020 and June 29, 2019, the Company recognized $3.8 million and $5.3 million , respectively, of the contract liability balance as revenue upon transfer of the products or services to customers. During the six months ended June 27, 2020 and June 29, 2019 , the Company recognized $4.3 million and $5.8 million |
Leases (Notes)
| Leases (Notes) | 6 Months Ended |
| Jun. 27, 2020 | |
| Leases [Abstract] | |
| Lessee, Operating Leases [Text Block] | Leases The Company's leasing arrangements primarily consist of operating leases for its facilities which include corporate, sales and marketing and research and development offices. For leases with terms greater than 12 months, the Company records the related right-of-use asset and lease obligation at the present value of lease payments over the term. The Company's leases typically include rental escalation clauses, renewal options and/or termination options that are factored into the determination of lease payments when appropriate. The Company does not separate lease and nonlease components of contracts and excludes all variable lease payments from the measurement of right-of-use assets and lease liabilities. The Company's variable lease payments generally include usage based nonlease components. The Company's lease agreements do not contain any residual value guarantees or restrictive covenants. Leases with an initial term of 12 months or less are not recorded on the balance sheet. Lease expense is recognized on a straight-line basis over the lease term. The Company's existing leases do not provide a readily determinable implicit rate. Therefore, the Company estimates its incremental borrowing rate to discount the lease payments based on information available at December 30, 2018 (date of initial application) or the lease commencement date for new leases post adoption. At June 27, 2020 , the Company's weighted average discount rate was 3.58% , while the weighted average remaining lease term was 8.75 years. The components of lease expense were as follows (in thousands): Three Months Ended Six Months Ended June 27, 2020 June 29, 2019 June 27, 2020 June 29, 2019 Operating lease cost $ 2,289 $ 1,969 $ 4,645 $ 3,939 Variable lease cost 882 1,316 2,004 2,136 Total lease cost $ 3,171 $ 3,285 $ 6,649 $ 6,075 Supplemental cash flow information related to leases was as follows (in thousands): Three Months Ended Six Months Ended June 27, 2020 June 29, 2019 June 27, 2020 June 29, 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 2,710 $ 2,865 $ 4,737 $ 4,881 Right-of-use assets obtained in exchange for lease obligations: Operating leases $ 1,566 $ — $ 1,566 $ 52,767 Maturities of operating lease liabilities were as follows as of June 27, 2020 (in thousands): Operating leases Remainder of 2020 $ 4,308 2021 8,529 2022 8,245 2023 7,345 2024 6,508 Thereafter 34,963 Total minimum lease payments $ 69,898 Less: imputed interest 10,405 Present value of future minimum lease payments $ 59,493 Less: current portion of operating lease liabilities (Note 7) 6,674 Long-term lease liabilities $ 52,819 Financial Statement Impact of Adopting ASC 842 The Company adopted ASC 842 effective December 30, 2018 using the alternative transition method. Under this alternative transition method, a company is permitted to use its effective date as the date of initial application without restating comparative period financial statements. The Company elected the package of practical expedients permitted under the transition guidance, which allowed the Company to carryforward its historical assessments of (1) whether contracts are or contain leases, (2) lease classification and (3) initial direct costs. In addition, the Company elected the practical expedient to use hindsight in determining lease term. The adoption of the new standard resulted in the recognition of right-of-use assets and lease liabilities of approximately $52.8 million and $67.3 million , respectively. The standard did not materially impact the Company's consolidated income or cash flows. |
Inventory
| Inventory | 6 Months Ended |
| Jun. 27, 2020 | |
| Inventory Disclosure [Abstract] | |
| Inventory | Inventory Inventory consists of the following (in thousands): June 27, 2020 December 28, 2019 Raw materials $ 198 $ 2,825 Finished goods 132,857 154,522 $ 133,055 $ 157,347 |
Goodwill, Other Intangible Asse
| Goodwill, Other Intangible Assets and Other Assets | 6 Months Ended |
| Jun. 27, 2020 | |
| Goodwill and Intangible Assets Disclosure [Abstract] | |
| Goodwill, Other Intangible Assets and Other Assets | Goodwill and Other Intangible Assets The following table summarizes the activity in the carrying amount of goodwill for the six months ended June 27, 2020 (in thousands): Balance as of December 28, 2019 $ 118,732 Effect of foreign currency translation 789 Balance as of June 27, 2020 $ 119,521 Intangible assets consisted of the following (in thousands): June 27, 2020 December 28, 2019 Cost Accumulated Amortization Net Cost Accumulated Amortization Net Completed technology $ 28,100 $ 26,075 $ 2,025 $ 28,100 $ 24,605 $ 3,495 Tradename 100 100 — 100 100 — Customer relationships 11,165 2,787 8,378 11,095 2,302 8,793 Reacquired distribution rights 31,972 31,972 — 31,680 31,680 — Non-competition agreements 258 237 21 256 192 64 Total $ 71,595 $ 61,171 $ 10,424 $ 71,231 $ 58,879 $ 12,352 Amortization expense related to acquired intangible assets was $1.4 million and $3.4 million for the three months ended June 27, 2020 and June 29, 2019 , respectively. Amortization expense related to acquired intangible assets was $2.0 million and $6.7 million for the six months ended June 27, 2020 and June 29, 2019 , respectively. The estimated future amortization expense related to current intangible assets in each of the five succeeding fiscal years is expected to be as follows (in thousands): Cost of Revenue Operating Expenses Total Remainder of 2020 $ 450 $ 493 $ 943 2021 900 786 1,686 2022 675 786 1,461 2023 — 786 786 2024 — 786 786 Thereafter — 4,762 4,762 Total $ 2,025 $ 8,399 $ 10,424 |
Accrued Expenses
| Accrued Expenses | 6 Months Ended |
| Jun. 27, 2020 | |
| Accrued Liabilities, Current [Abstract] | |
| Accrued Expenses | Accrued Expenses Accrued expenses consisted of the following at (in thousands): June 27, 2020 December 28, 2019 Accrued other compensation $ 14,907 $ 13,331 Accrued warranty 13,769 13,856 Accrued federal and state income taxes 10,265 3,378 Accrued bonus 7,821 12,541 Accrued sales and other indirect taxes payable 7,134 12,440 Current portion of operating lease liabilities 6,674 6,843 Accrued direct fulfillment costs 4,194 10,582 Accrued other 8,981 8,797 $ 73,745 $ 81,768 |
Derivative Instruments (Notes)
| Derivative Instruments (Notes) | 6 Months Ended |
| Jun. 27, 2020 | |
| Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
| Derivatives Not Designated as Hedging Instruments [Table Text Block] | Gains (losses) associated with derivative instruments not designated as hedging instruments are as follows (in thousands): Three Months Ended Six Months Ended Classification June 27, 2020 June 29, 2019 June 27, 2020 June 29, 2019 Loss recognized in income Other (expense) income, net $ (701 ) $ (1,085 ) $ (1,247 ) $ (652 ) |
| Derivative Instruments and Hedging Activities Disclosure [Text Block] | Derivative Instruments The Company operates internationally and, in the normal course of business, is exposed to fluctuations in foreign currency exchange rates. The foreign currency exposures typically arise from transactions denominated in currencies other than the functional currency of the Company's operations, primarily the British Pound, Canadian Dollar, Euro and Japanese Yen. The Company uses derivative instruments that are designated in cash flow hedge relationships to reduce or eliminate the effects of foreign exchange rate changes on sales. These contracts typically have maturities of thirty-seven months or less. At June 27, 2020 and December 28, 2019 , the Company had outstanding cash flow hedges with a total notional value of $411.2 million and $424.6 million , respectively. The Company also enters into economic hedges that are not designated as hedges from an accounting standpoint to reduce or eliminate the effects of foreign exchange rate changes typically related to short term trade receivables and payables. These contracts typically have maturities of twelve months or less. At June 27, 2020 and December 28, 2019 , the Company had outstanding economic hedges with a total notional value of $61.1 million and $58.4 million , respectively. The fair values of derivative instruments are as follows (in thousands): Fair Value Classification June 27, 2020 December 28, 2019 Derivatives not designated as hedging instruments: Foreign currency forward contracts Other current assets $ 1,473 $ 1,855 Foreign currency forward contracts Accrued expenses 679 297 Derivatives designated as cash flow hedges: Foreign currency forward contracts Other current assets $ 5,737 $ 4,347 Foreign currency forward contracts Other assets 8,691 9,112 Foreign currency forward contracts Accrued expenses 27 47 Foreign currency forward contracts Long-term liabilities 600 414 Gains (losses) associated with derivative instruments not designated as hedging instruments are as follows (in thousands): Three Months Ended Six Months Ended Classification June 27, 2020 June 29, 2019 June 27, 2020 June 29, 2019 Loss recognized in income Other (expense) income, net $ (701 ) $ (1,085 ) $ (1,247 ) $ (652 ) The following tables reflect the effect of derivatives designated as cash flow hedging (in thousands): Gain (loss) recognized in OCI on Derivative (1) Three Months Ended Six Months Ended June 27, 2020 June 29, 2019 June 27, 2020 June 29, 2019 Foreign currency forward contracts $ (3,512 ) $ (2,054 ) $ 4,053 $ 4,350 (1) The amount represents the change in fair value of derivative contracts due to changes in spot rates. Gain (loss) recognized in earnings on cash flow hedging instruments Three Months Ended Six Months Ended June 27, 2020 June 29, 2019 June 27, 2020 June 29, 2019 Revenue Revenue Consolidated statements of operations in which the effects of cash flow hedging instruments are recorded $ 279,883 $ 260,172 $ 472,418 $ 497,833 Gain (loss) on cash flow hedging relationships: Foreign currency forward contracts: Amount of gain reclassified from AOCI into earnings $ 1,761 $ 359 $ 3,718 $ 214 |
Fair Value Measurements (Notes)
| Fair Value Measurements (Notes) | 6 Months Ended |
| Jun. 27, 2020 | |
| Fair Value Footnote [Abstract] | |
| Fair Value Disclosures [Text Block] | Fair Value Measurements The Company’s financial assets and liabilities measured at fair value on a recurring basis were as follows (in thousands): Fair Value Measurements as of Level 1 Level 2 (1) Level 3 (2) Assets: Money market funds $ 125,072 $ — $ — Corporate bonds, $9,989 at cost (3) — 10,060 — Convertible notes — — 1,500 Derivative instruments (Note 8) — 15,901 — Total assets measured at fair value $ 125,072 $ 25,961 $ 1,500 Liabilities: Derivative instruments (Note 8) $ — $ 1,306 $ — Total liabilities measured at fair value $ — $ 1,306 $ — Fair Value Measurements as of Level 1 Level 2 (1) Level 3 (2) Assets: Corporate and government bonds, $17,016 at cost $ — $ 17,032 $ — Derivative instruments (Note 8) — 15,314 — Total assets measured at fair value $ — $ 32,346 $ — Liabilities: Derivative instruments (Note 8) $ — $ 758 $ — Total liabilities measured at fair value $ — $ 758 $ — (1) Level 2 fair value estimates are based on observable inputs other than quoted prices in active markets for identical assets and liabilities, quoted prices for identical or similar assets or liabilities in inactive markets, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. (2) Level 3 fair value estimates are based on inputs that are generally unobservable and typically reflect management’s estimates of assumptions that market participants would use in pricing the asset or liability. Unobservable inputs used in the models are significant to the fair values of the assets and liabilities. (3) As of June 27, 2020 , the Company’s investments had maturity dates ranging from September 2020 to March 2021. The following table provides a summary of changes in fair value of our Level 3 investment for the six months ended June 27, 2020 (in thousands): Balance as of December 28, 2019 $ — Investment in convertible notes 1,500 Balance as of June 27, 2020 $ 1,500 |
| Convertible Debt [Table Text Block] | The following table provides a summary of changes in fair value of our Level 3 investment for the six months ended June 27, 2020 (in thousands): Balance as of December 28, 2019 $ — Investment in convertible notes 1,500 Balance as of June 27, 2020 $ 1,500 |
Stockholders Equity (Notes)
| Stockholders Equity (Notes) | 6 Months Ended |
| Jun. 27, 2020 | |
| Equity [Abstract] | |
| Stockholders' Equity Note Disclosure [Text Block] | Stockholders' Equity Share Repurchase Activity The Company's Board of Directors approved a stock repurchase program authorizing up to $200.0 million in share repurchases from time to time until September 2021. On March 10, 2020, the Company entered into a Rule 10b5-1 plan to repurchase $25.0 million of common stock in the aggregate beginning March 13, 2020 and ending April 30, 2020. The Company repurchased 663,602 shares of its common stock at an average price of $37.65, totaling $25.0 million in March 2020. |
Commitments and Contingencies
| Commitments and Contingencies | 6 Months Ended |
| Jun. 27, 2020 | |
| Commitments and Contingencies Disclosure [Abstract] | |
| Commitments and Contingencies | Commitments and Contingencies Legal Proceedings From time to time and in the ordinary course of business, the Company is subject to various claims, charges and litigation. The outcome of litigation cannot be predicted with certainty and some lawsuits, claims or proceedings may be disposed of unfavorably to us, which could materially affect our financial condition or results of operations. For the following litigation matters, a liability is not probable or the amount cannot be reasonably estimated and therefore accruals have not been made. On October 24, 2019, purported Company shareholder Miramar Firefighters’ Pension Fund filed a putative class action in the U.S. District Court for the Southern District of New York against the Company and certain of its directors and officers, captioned Miramar Firefighters’ Pension Fund v. iRobot Corporation, et al., No. 1:19-cv-09837. The case has been transferred to the U.S. District Court for the District of Massachusetts. A similar case captioned Campbell v. iRobot Corporation, et al., No. 1:19-cv-12483 was also filed in the U.S. District Court for the Southern District of New York and subsequently transferred to the U.S. District Court for the District of Massachusetts. On January 24, 2020, the Court consolidated the Miramar and Campbell cases (the consolidated cases together, the "Securities Class Action") and appointed a lead plaintiff and lead plaintiff's Counsel. On April 3, 2020, the plaintiff filed an amended complaint alleging violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder based on allegedly false and misleading statements and omissions concerning the impact of competition and Section 301 tariffs on the Company’s financial performance, and the Company has filed a motion to dismiss the case. On December 20, 2019, purported Company shareholders David Katz and Thomas Wightman, derivatively on behalf of iRobot Corporation, filed a complaint in the U.S. District Court for Southern District of New York against the Company and certain of its directors and officers, captioned David Katz and Thomas Wightman, on behalf of iRobot Corporation v. iRobot Corporation, et al., No. 1:19-cv-11692. The complaint alleges breaches of fiduciary duties, unjust enrichment, violations of Sections 10(b) and 20(a) of the Exchange Act and Rule 10b-5 thereunder based on allegedly false and misleading statements and omissions concerning the Company's acquisitions of Sales on Demand Corporation and Robopolis SAS and the Company's subsequent financial performance. The complaint seeks, among other things, unspecified compensatory damages, including interest, in connection with the Company's allegedly inflated stock price, attorneys' fees and costs, and unspecified equitable/injunctive relief. This case has been transferred to the U.S. District Court for the District of Massachusetts. Similarly, additional derivative litigations -- namely: Robert Truman, on behalf of iRobot Corporation v. iRobot Corporation, et al., No. 1:20-cv-10034; Alexa Ruhfass, on behalf of iRobot Corporation v. iRobot Corporation, et al., No. 1:20-cv-10133; and William Tasco, derivatively on behalf of iRobot Corporation v. iRobot Corporation, et al., No. 1:20-cv-10253 - were filed in the U.S. District Court for the District of Massachusetts. All of these cases have been consolidated in a case captioned as In re iRobot Corporation Derivative litigation, No. 1:20-cv-10034, and have been stayed pending a ruling on the motion to dismiss in the Securities Class Action. Outstanding Purchase Orders At June 27, 2020 , the Com pany had outstanding purchase orders aggregating approximately $337.5 million . The purchase orders, the majority of which are with the Company's contract manufacturers for the purchase of inventory in the normal course of business, are for manufacturing and non-manufacturing related goods and services, and are generally cancelable without penalty. In circumstances where the Company has determined that it has financial exposure associated with any of these commitments, the Company records a liability in the period in which that exposure is identified. Guarantees and Indemnification Obligations The Company enters into standard indemnification agreements in the ordinary course of business. Pursuant to these agreements, the Company indemnifies and agrees to reimburse the indemnified party for losses incurred by the indemnified party, generally the Company’s customers, in connection with any patent, copyright, trade secret or other proprietary right infringement claim by any third party. The term of these indemnification agreements is generally perpetual any time after execution of the agreement. The maximum potential amount of future payments the Company could be required to make under these indemnification agreements is unlimited. The Company has never incurred costs to defend lawsuits or settle claims related to these indemnification agreements. As a result, the Company believes the estimated fair value of these agreements is minimal. Accordingly, the Company has no liabilities recorded for these agreements as of June 27, 2020 and December 28, 2019 , respectively. Warranty The Company provides warranties on most products and has established a reserve for warranty obligations based on estimated warranty costs. The reserve is included as part of accrued expenses (Note 7) in the accompanying consolidated balance sheets. Activity related to the warranty accrual was as follows (in thousands): Three Months Ended Six Months Ended June 27, 2020 June 29, 2019 June 27, 2020 June 29, 2019 Balance at beginning of period $ 13,998 $ 11,628 $ 13,856 $ 11,964 Provision 3,396 2,682 7,870 5,333 Warranty usage (3,625 ) (2,340 ) (7,957 ) (5,327 ) Balance at end of period $ 13,769 $ 11,970 $ 13,769 $ 11,970 |
Income Taxes (Notes)
| Income Taxes (Notes) | 6 Months Ended |
| Jun. 27, 2020 | |
| Income Tax Disclosure [Abstract] | |
| Income Tax Disclosure [Text Block] | Income Taxes The Company’s effective income tax rate for the three months ended June 27, 2020 and June 29, 2019 , was 16.1% and (6.3)% , respectively. The increase in the effective income tax rate was primarily due to lower tax benefits recognized related to stock-based compensation. During the three months ended June 29, 2019, the Company’s effective income tax rate included the recognition of a discrete tax benefit upon the effective settlement of a foreign tax audit. The Company's effective income tax rate of 16.1% for the three months ended June 27, 2020 differed from the federal statutory tax rate of 21% primarily due to the discrete recognition of foreign tax credits and other tax benefits made possible by the income from the tariff refunds recognized during the quarter. The Company’s effective income tax rate for the six months ended June 27, 2020 and June 29, 2019 , was 18.5% and 2.0% , respectively. The increase in the effective income tax rate was primarily due to the recognition of tax expense associated with stock-based compensation compared to a tax benefit for the prior period. The Company's effective income tax rate of 18.5% for the six months ended June 27, 2020 differed from the federal statutory tax rate of 21% primarily due to the discrete recognition of foreign tax credits and other tax benefits made possible by the income from the tariff refunds recognized during the period. The impact of these benefits was offset by discrete tax expense associated with stock-based compensation. On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act ("CARES Act") was enacted in response to the COVID-19 pandemic. The Company continues to evaluate the impact of the CARES Act, but at present does not expect the CARES Act to result in any material income tax benefit. |
Industry Segment, Geographic In
| Industry Segment, Geographic Information and Significant Customers | 6 Months Ended |
| Jun. 27, 2020 | |
| Segment Reporting [Abstract] | |
| Industry Segment, Geographic Information and Significant Customers | Industry Segment, Geographic Information and Significant Customers The Company operates as one operating segment. The Company's consumer robots products are offered to consumers through a variety of distribution channels, including chain stores and other national retailers, through its on-line stores, and through value-added distributors and resellers worldwide. Significant Customers For the three months ended June 27, 2020 and June 29, 2019 , the Company generated 35.1% and 28.0% of total revenue, respectively, from one of its retailers (Amazon). For the six months ended June 27, 2020 and June 29, 2019, the Company generated 26.2% and 22.3% of total revenue, respectively, from one of its retailers (Amazon). |
Subsequent Event (Notes)
| Subsequent Event (Notes) | 6 Months Ended |
| Jun. 27, 2020 | |
| Subsequent Events [Abstract] | |
| Subsequent Events [Text Block] | On July 1, 2020, Teladoc Health, Inc. closed on its previously announced acquisition of InTouch Health, of which the Company held non-marketable equity securities. In exchange for its shares of InTouch Health, the Company received 0.2 million shares of Teledoc and will record a gain of approximately $38.6 million to other (expense) income, net during the third quarter of 2020. The Teledoc shares received are subject to time based contractual sales restrictions which expire in January 2021. These shares will be accounted for as marketable equity securities and measured at fair value with unrealized gains and losses recognized in other (expense) income, net at the end of each reporting period. As a result, the Company entered into an economic hedge in July 2020 to reduce the Company's exposure to stock price fluctuations during the restricted period. |
Summary of Significant Accoun_2
| Summary of Significant Accounting Policies (Policies) | 6 Months Ended |
| Jun. 27, 2020 | |
| Accounting Policies [Abstract] | |
| Basis of Presentation | Basis of Presentation The accompanying consolidated financial statements include those of iRobot and its subsidiaries, after elimination of all intercompany balances and transactions. iRobot has prepared the accompanying unaudited consolidated financial statements in conformity with accounting principles generally accepted in the United States of America ("GAAP"). In the opinion of management, all adjustments necessary to the unaudited interim consolidated financial statements have been made to state fairly the Company's financial position. Interim results are not necessarily indicative of results for the full fiscal year or any future periods. The information included in this Form 10-Q should be read in conjunction with the Company's audited consolidated financial statements and notes thereto included in its Annual Report on Form 10-K for the fiscal year ended December 28, 2019 , filed with the Securities and Exchange Commission on February 13, 2020 . The Company operates and reports using a 52-53 week fiscal year ending on the Saturday closest to December 31. Accordingly, the Company’s fiscal quarters end on the Saturday that falls closest to the last day of the third month of each quarter. |
| Recent Accounting Pronouncements | Recently Adopted Accounting Standards In June 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2016-13, "Measurement of Credit Losses on Financial Instruments," which amends the impairment model by requiring entities to use a forward-looking approach based on expected losses rather than incurred losses to estimate credit losses on certain types of financial instruments. The Company adopted the standard effective December 29, 2019 which resulted in no adjustment to the allowance for credit losses upon adoption. See the description of the Company’s "Credit Losses" accounting policy below. In August 2018, the FASB issued ASU No. 2018-13, "Fair Value Measurement: Disclosure Framework—Changes to the Disclosure Requirements for Fair Value Measurement." The amendment modifies disclosure requirements related to fair value measurement. The Company adopted this standard effective December 29, 2019 which did not have a material impact on the Company's consolidated financial statements and related disclosures. In August 2018, the FASB issued ASU No. 2018-15, "Intangibles - Goodwill and Other - Internal-Use Software." The new standard aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software (and hosting arrangements that include an internal use software license). The Company adopted the standard using the prospective method effective December 29, 2019 which did not have a material impact on the Company's consolidated financial statements. Recently Issued Accounting Standards In December 2019, the FASB issued ASU No. 2019-12, "Income Taxes - Simplifying the Accounting for Income Taxes." The ASU simplifies the accounting for income taxes by removing certain exceptions to the general principles as well as clarifying and amending existing guidance to improve consistent application. The amendments to this ASU are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2020, with early adoption permitted. Depending on the amendment, adoption may be applied on the retrospective, modified retrospective or prospective basis. The Company intends to adopt the ASU effective January 3, 2021, and is currently evaluating the impact to the consolidated financial statements. From time to time, new accounting pronouncements are issued by FASB that are adopted by the Company as of the specified effective date. Unless otherwise discussed, the Company believes that recently issued standards, which are not yet effective, will not have a material impact on the Company’s consolidated financial statements upon adoption. |
| Use of Estimates | Use of Estimates The preparation of these financial statements in conformity with GAAP requires the Company to make estimates and assumptions that affect the reported amounts of assets and liabilities and revenues and expenses. These estimates and judgments include, but are not limited to, revenue recognition, including performance obligations, variable consideration and other obligations such as product returns and incentives; allowance for credit losses; warranty costs; valuation of goodwill and acquired intangible assets; valuation of financial instruments; evaluating loss contingencies; accounting for stock-based compensation including performance-based assessments; and accounting for income taxes and related valuation allowances. The Company bases these estimates and judgments on historical experience, market participant fair value considerations, projected future cash flows and various other factors that the Company believes are reasonable under the circumstances. Actual results may differ from the Company’s estimates. |
| Credit Loss, Financial Instrument [Policy Text Block] | Credit Losses |
| Investment, Policy [Policy Text Block] | Other Assets |
| Subsequent Events [Text Block] | On July 1, 2020, Teladoc Health, Inc. closed on its previously announced acquisition of InTouch Health, of which the Company held non-marketable equity securities. In exchange for its shares of InTouch Health, the Company received 0.2 million shares of Teledoc and will record a gain of approximately $38.6 million to other (expense) income, net during the third quarter of 2020. The Teledoc shares received are subject to time based contractual sales restrictions which expire in January 2021. These shares will be accounted for as marketable equity securities and measured at fair value with unrealized gains and losses recognized in other (expense) income, net at the end of each reporting period. As a result, the Company entered into an economic hedge in July 2020 to reduce the Company's exposure to stock price fluctuations during the restricted period. |
| Net Income Per Share | Net Income Per Share Basic income per share is calculated using the Company's weighted-average outstanding common shares. Diluted income per share is calculated using the Company's weighted-average outstanding common shares including the dilutive effect of stock awards as determined under the treasury stock method. The following table presents the calculation of both basic and diluted net income per share (in thousands, except per share amounts): Three Months Ended Six Months Ended June 27, 2020 June 29, 2019 June 27, 2020 June 29, 2019 Net income $ 58,616 $ 7,207 $ 40,481 $ 29,727 Basic weighted-average common shares outstanding 27,923 28,079 28,110 27,970 Dilutive effect of employee stock awards 357 684 304 809 Diluted weighted-average common shares outstanding 28,280 28,763 28,414 28,779 Net income per share - Basic $ 2.10 $ 0.26 $ 1.44 $ 1.06 Net income per share - Diluted $ 2.07 $ 0.25 $ 1.42 $ 1.03 Employee stock awards representing approximately 0.2 million shares of common stock for the three months ended June 27, 2020 and June 29, 2019 , and approximately 0.3 million and 0.1 million shares of common stock for the six months ended June 27, 2020 and June 29, 2019 |
Summary of Significant Accoun_3
| Summary of Significant Accounting Policies Subsequent event (Tables) - USD ($) $ in Millions | Jul. 01, 2020 | Jun. 27, 2020 |
| Subsequent Event [Line Items] | ||
| Subsequent Events [Text Block] | On July 1, 2020, Teladoc Health, Inc. closed on its previously announced acquisition of InTouch Health, of which the Company held non-marketable equity securities. In exchange for its shares of InTouch Health, the Company received 0.2 million shares of Teledoc and will record a gain of approximately $38.6 million to other (expense) income, net during the third quarter of 2020. The Teledoc shares received are subject to time based contractual sales restrictions which expire in January 2021. These shares will be accounted for as marketable equity securities and measured at fair value with unrealized gains and losses recognized in other (expense) income, net at the end of each reporting period. As a result, the Company entered into an economic hedge in July 2020 to reduce the Company's exposure to stock price fluctuations during the restricted period. | |
| Gain (Loss) on Sale of Equity Investments | $ 38.6 |
Revenue Recognition Disaggregat
| Revenue Recognition Disaggregation of Revenue (Tables) | 6 Months Ended |
| Jun. 27, 2020 | |
| Revenue Recognition and Deferred Revenue [Abstract] | |
| Disaggregation of Revenue [Table Text Block] | Disaggregation of Revenue The following table provides information about disaggregated revenue by geographical region (in thousands): Three Months Ended Six Months Ended June 27, 2020 June 29, 2019 June 27, 2020 June 29, 2019 United States $ 140,146 $ 124,472 $ 222,113 $ 238,537 EMEA 71,048 82,893 137,707 157,462 Other 68,689 52,807 112,598 101,834 Total revenue $ 279,883 $ 260,172 $ 472,418 $ 497,833 |
Revenue Recognition Contract Ba
| Revenue Recognition Contract Balances (Tables) | 6 Months Ended |
| Jun. 27, 2020 | |
| Revenue Recognition and Deferred Revenue [Abstract] | |
| Contract with Customer, Asset and Liability [Table Text Block] | Contract Balances The following table provides information about receivables and contract liabilities from contracts with customers (in thousands): June 27, 2020 December 28, 2019 Accounts receivable, net $ 128,334 $ 146,161 Contract liabilities 6,578 6,991 The Company invoices customers based upon contractual billing schedules, and accounts receivable are recorded when the right to consideration becomes unconditional. Contract liabilities include customer deposits which relate to prepayments received from customers in advance of product shipments as well as deferred revenue associated with the Cloud Services. The change in the opening and closing balances of the Company’s contract assets and contract liabilities primarily results from the timing difference between the Company’s performance and the customer’s payment. During the three months ended June 27, 2020 and June 29, 2019, the Company recognized $3.8 million and $5.3 million , respectively, of the contract liability balance as revenue upon transfer of the products or services to customers. During the six months ended June 27, 2020 and June 29, 2019 , the Company recognized $4.3 million and $5.8 million |
Leases (Tables)
| Leases (Tables) | 6 Months Ended |
| Jun. 27, 2020 | |
| Operating Lease Cost [Abstract] | |
| Lease, Cost [Table Text Block] | The components of lease expense were as follows (in thousands): Three Months Ended Six Months Ended June 27, 2020 June 29, 2019 June 27, 2020 June 29, 2019 Operating lease cost $ 2,289 $ 1,969 $ 4,645 $ 3,939 Variable lease cost 882 1,316 2,004 2,136 Total lease cost $ 3,171 $ 3,285 $ 6,649 $ 6,075 |
| Schedule of Leases, Supplemental Cash Flow [Table Text Block] | Supplemental cash flow information related to leases was as follows (in thousands): Three Months Ended Six Months Ended June 27, 2020 June 29, 2019 June 27, 2020 June 29, 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 2,710 $ 2,865 $ 4,737 $ 4,881 Right-of-use assets obtained in exchange for lease obligations: Operating leases $ 1,566 $ — $ 1,566 $ 52,767 |
| Lessee, Operating Lease, Liability, Maturity [Table Text Block] | Maturities of operating lease liabilities were as follows as of June 27, 2020 (in thousands): Operating leases Remainder of 2020 $ 4,308 2021 8,529 2022 8,245 2023 7,345 2024 6,508 Thereafter 34,963 Total minimum lease payments $ 69,898 Less: imputed interest 10,405 Present value of future minimum lease payments $ 59,493 Less: current portion of operating lease liabilities (Note 7) 6,674 Long-term lease liabilities $ 52,819 |
Inventory (Tables)
| Inventory (Tables) | 6 Months Ended |
| Jun. 27, 2020 | |
| Inventory Disclosure [Abstract] | |
| Components of Inventory | Inventory Inventory consists of the following (in thousands): June 27, 2020 December 28, 2019 Raw materials $ 198 $ 2,825 Finished goods 132,857 154,522 $ 133,055 $ 157,347 |
Goodwill, Other Intangible As_2
| Goodwill, Other Intangible Assets and Other Assets (Tables) | 6 Months Ended |
| Jun. 27, 2020 | |
| Goodwill and Intangible Assets Disclosure [Abstract] | |
| Schedule of Goodwill [Table Text Block] | The following table summarizes the activity in the carrying amount of goodwill for the six months ended June 27, 2020 (in thousands): Balance as of December 28, 2019 $ 118,732 Effect of foreign currency translation 789 Balance as of June 27, 2020 $ 119,521 |
| Other Intangible Assets | Intangible assets consisted of the following (in thousands): June 27, 2020 December 28, 2019 Cost Accumulated Amortization Net Cost Accumulated Amortization Net Completed technology $ 28,100 $ 26,075 $ 2,025 $ 28,100 $ 24,605 $ 3,495 Tradename 100 100 — 100 100 — Customer relationships 11,165 2,787 8,378 11,095 2,302 8,793 Reacquired distribution rights 31,972 31,972 — 31,680 31,680 — Non-competition agreements 258 237 21 256 192 64 Total $ 71,595 $ 61,171 $ 10,424 $ 71,231 $ 58,879 $ 12,352 |
| Estimated Future Amortization Expense Related to Current Intangible Assets | The estimated future amortization expense related to current intangible assets in each of the five succeeding fiscal years is expected to be as follows (in thousands): Cost of Revenue Operating Expenses Total Remainder of 2020 $ 450 $ 493 $ 943 2021 900 786 1,686 2022 675 786 1,461 2023 — 786 786 2024 — 786 786 Thereafter — 4,762 4,762 Total $ 2,025 $ 8,399 $ 10,424 |
Accrued Expenses (Tables)
| Accrued Expenses (Tables) | 6 Months Ended |
| Jun. 27, 2020 | |
| Accrued Liabilities, Current [Abstract] | |
| Components of Accrued Expenses | June 27, 2020 December 28, 2019 Accrued other compensation $ 14,907 $ 13,331 Accrued warranty 13,769 13,856 Accrued federal and state income taxes 10,265 3,378 Accrued bonus 7,821 12,541 Accrued sales and other indirect taxes payable 7,134 12,440 Current portion of operating lease liabilities 6,674 6,843 Accrued direct fulfillment costs 4,194 10,582 Accrued other 8,981 8,797 $ 73,745 $ 81,768 |
Derivative Instruments (Tables)
| Derivative Instruments (Tables) | 6 Months Ended |
| Jun. 27, 2020 | |
| Derivative Instruments, Gain (Loss) [Line Items] | |
| Derivative Instruments, Gain (Loss) [Table Text Block] | Gains (losses) associated with derivative instruments not designated as hedging instruments are as follows (in thousands): Three Months Ended Six Months Ended Classification June 27, 2020 June 29, 2019 June 27, 2020 June 29, 2019 Loss recognized in income Other (expense) income, net $ (701 ) $ (1,085 ) $ (1,247 ) $ (652 ) The following tables reflect the effect of derivatives designated as cash flow hedging (in thousands): Gain (loss) recognized in OCI on Derivative (1) Three Months Ended Six Months Ended June 27, 2020 June 29, 2019 June 27, 2020 June 29, 2019 Foreign currency forward contracts $ (3,512 ) $ (2,054 ) $ 4,053 $ 4,350 (1) The amount represents the change in fair value of derivative contracts due to changes in spot rates. Gain (loss) recognized in earnings on cash flow hedging instruments Three Months Ended Six Months Ended June 27, 2020 June 29, 2019 June 27, 2020 June 29, 2019 Revenue Revenue Consolidated statements of operations in which the effects of cash flow hedging instruments are recorded $ 279,883 $ 260,172 $ 472,418 $ 497,833 Gain (loss) on cash flow hedging relationships: Foreign currency forward contracts: Amount of gain reclassified from AOCI into earnings $ 1,761 $ 359 $ 3,718 $ 214 |
Derivative Instruments Schedule
| Derivative Instruments Schedule of Derivative Instruments (Tables) | 6 Months Ended |
| Jun. 27, 2020 | |
| Derivative [Line Items] | |
| Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss) [Table Text Block] | The following tables reflect the effect of derivatives designated as cash flow hedging (in thousands): Gain (loss) recognized in OCI on Derivative (1) Three Months Ended Six Months Ended June 27, 2020 June 29, 2019 June 27, 2020 June 29, 2019 Foreign currency forward contracts $ (3,512 ) $ (2,054 ) $ 4,053 $ 4,350 (1) The amount represents the change in fair value of derivative contracts due to changes in spot rates. |
| Schedule of Derivative Instruments [Table Text Block] | The fair values of derivative instruments are as follows (in thousands): Fair Value Classification June 27, 2020 December 28, 2019 Derivatives not designated as hedging instruments: Foreign currency forward contracts Other current assets $ 1,473 $ 1,855 Foreign currency forward contracts Accrued expenses 679 297 Derivatives designated as cash flow hedges: Foreign currency forward contracts Other current assets $ 5,737 $ 4,347 Foreign currency forward contracts Other assets 8,691 9,112 Foreign currency forward contracts Accrued expenses 27 47 Foreign currency forward contracts Long-term liabilities 600 414 |
Commitments and Contingencies (
| Commitments and Contingencies (Tables) | 6 Months Ended |
| Jun. 27, 2020 | |
| Commitments and Contingencies Disclosure [Abstract] | |
| Activity Related to the Warranty Accrual | Activity related to the warranty accrual was as follows (in thousands): Three Months Ended Six Months Ended June 27, 2020 June 29, 2019 June 27, 2020 June 29, 2019 Balance at beginning of period $ 13,998 $ 11,628 $ 13,856 $ 11,964 Provision 3,396 2,682 7,870 5,333 Warranty usage (3,625 ) (2,340 ) (7,957 ) (5,327 ) Balance at end of period $ 13,769 $ 11,970 $ 13,769 $ 11,970 |
Industry Segment, Geographic _2
| Industry Segment, Geographic Information and Significant Customers (Tables) | 6 Months Ended |
| Jun. 27, 2020 | |
| Segment Reporting [Abstract] | |
| Segment Information about Revenue, Cost of Revenue, Gross Margin and Income before Income Taxes | The Company operates as one |
Summary of Significant Accoun_4
| Summary of Significant Accounting Policies Credit Losses (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | |
| Jun. 27, 2020 | Jun. 27, 2020 | Dec. 28, 2019 | |
| Credit Loss [Abstract] | |||
| Accounts Receivable, Allowance for Credit Loss, Period Increase (Decrease) | $ 0 | $ 4.5 | |
| Accounts Receivable, Allowance for Credit Loss | $ 5.7 | $ 5.7 | $ 1.2 |
Summary of Significant Accoun_5
| Summary of Significant Accounting Policies Receivables (Details) - USD ($) $ in Millions | 3 Months Ended | |
| Jun. 27, 2020 | Apr. 24, 2020 | |
| Receivables [Abstract] | ||
| Recovery of Direct Costs | $ 48.7 | |
| Recovery of Import Duties | 8.5 | |
| Receivable for Recovery of Import Duties, Net | $ 56.7 | $ 57.2 |
Summary of Significant Accoun_6
| Summary of Significant Accounting Policies Other Assets (Details) - USD ($) $ in Millions | Jun. 27, 2020 | Dec. 28, 2019 |
| Equity and cost method investments [Abstract] | ||
| Equity Securities without Readily Determinable Fair Value, Amount | $ 21.7 | $ 21 |
Summary of Significant Accoun_7
| Summary of Significant Accounting Policies - Basic and Diluted Net Income Per Share (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
| Jun. 27, 2020 | Jun. 29, 2019 | Jun. 27, 2020 | Jun. 29, 2019 | |
| Schedule Of Computation Of Basic And Diluted Earnings Per Common Share [Line Items] | ||||
| Document Period End Date | Jun. 27, 2020 | |||
| Net income | $ 58,616 | $ 7,207 | $ 40,481 | $ 29,727 |
| Weighted-average shares outstanding | 27,923 | 28,079 | 28,110 | 27,970 |
| Dilutive effect of employee stock options and restricted shares | 357 | 684 | 304 | 809 |
| Diluted weighted-average shares outstanding | 28,280 | 28,763 | 28,414 | 28,779 |
| Basic income per share | $ 2.10 | $ 0.26 | $ 1.44 | $ 1.06 |
| Diluted income per share | $ 2.07 | $ 0.25 | $ 1.42 | $ 1.03 |
| Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 200 | 300 | 100 | |
Summary of Significant Accoun_8
| Summary of Significant Accounting Policies Subsequent Event (Details) shares in Millions, $ in Millions | Jul. 01, 2020USD ($)shares |
| Subsequent Event [Line Items] | |
| Equity securities received, restricted | shares | 0.2 |
| Gain (Loss) on Sale of Equity Investments | $ | $ 38.6 |
Revenue Recognition Significant
| Revenue Recognition Significant Judgments (Details) - USD ($) $ in Millions | Jun. 27, 2020 | Dec. 28, 2019 |
| Revenue Recognition and Deferred Revenue [Abstract] | ||
| Revenue, Remaining Performance Obligation, Amount | $ 5.3 | |
| Refund liability, product returns | 49.2 | $ 55.2 |
| Refund liability, other credits and incentives | $ 76.6 | $ 134 |
Revenue Recognition Disaggreg_2
| Revenue Recognition Disaggregation of Revenue (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
| Jun. 27, 2020 | Jun. 29, 2019 | Jun. 27, 2020 | Jun. 29, 2019 | |
| Disaggregation of Revenue [Line Items] | ||||
| Revenue from Contract with Customer, Excluding Assessed Tax | $ 279,883 | $ 260,172 | $ 472,418 | $ 497,833 |
| UNITED STATES | ||||
| Disaggregation of Revenue [Line Items] | ||||
| Revenue from Contract with Customer, Excluding Assessed Tax | 140,146 | 124,472 | 222,113 | 238,537 |
| EMEA [Member] | ||||
| Disaggregation of Revenue [Line Items] | ||||
| Revenue from Contract with Customer, Excluding Assessed Tax | 71,048 | 82,893 | 137,707 | 157,462 |
| All Other Regions [Member] | ||||
| Disaggregation of Revenue [Line Items] | ||||
| Revenue from Contract with Customer, Excluding Assessed Tax | $ 68,689 | $ 52,807 | $ 112,598 | $ 101,834 |
Revenue Recognition Contract _2
| Revenue Recognition Contract Balances (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
| Jun. 27, 2020 | Jun. 29, 2019 | Jun. 27, 2020 | Jun. 29, 2019 | Dec. 28, 2019 | |
| Revenue Recognition and Deferred Revenue [Abstract] | |||||
| Revenue, Remaining Performance Obligation, Amount | $ 5,300 | $ 5,300 | |||
| Accounts Receivable, after Allowance for Credit Loss, Current | 128,334 | 128,334 | $ 146,161 | ||
| Contract with Customer, Liability, Revenue Recognized | 3,800 | $ 5,300 | 4,300 | $ 5,800 | |
| Contract with Customer, Liability | $ 6,578 | $ 6,578 | $ 6,991 | ||
Leases Lease Cost (Details)
| Leases Lease Cost (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
| Jun. 27, 2020 | Jun. 29, 2019 | Jun. 27, 2020 | Jun. 29, 2019 | |
| Leases [Abstract] | ||||
| Operating Lease, Weighted Average Discount Rate, Percent | 3.58% | 3.58% | ||
| Operating Lease, Cost | $ 2,289 | $ 1,969 | $ 4,645 | $ 3,939 |
| Variable Lease, Cost | 882 | 1,316 | 2,004 | 2,136 |
| Lease, Cost | $ 3,171 | $ 3,285 | $ 6,649 | $ 6,075 |
| Operating Lease, Weighted Average Remaining Lease Term | 8 years 9 months | 8 years 9 months | ||
Leases Supplemental Cash Flow (
| Leases Supplemental Cash Flow (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
| Jun. 27, 2020 | Jun. 29, 2019 | Jun. 27, 2020 | Jun. 29, 2019 | |
| Leases [Abstract] | ||||
| Document Period End Date | Jun. 27, 2020 | |||
| Operating Lease, Payments | $ 2,710 | $ 2,865 | $ 4,737 | $ 4,881 |
| Right-of-Use Asset Obtained in Exchange for Operating Lease Liability | $ 1,566 | $ 0 | $ 1,566 | $ 52,767 |
Leases Maturity of Operating Le
| Leases Maturity of Operating Lease LIability (Details) - USD ($) $ in Thousands | Jun. 27, 2020 | Dec. 28, 2019 | Dec. 30, 2018 |
| Leases [Abstract] | |||
| Lessee, Operating Lease, Liability, Payments, Remainder of Fiscal Year | $ 4,308 | ||
| Lessee, Operating Lease, Liability, Payments, Due Year Two | 8,529 | ||
| Lessee, Operating Lease, Liability, Payments, Due Year Three | 8,245 | ||
| Lessee, Operating Lease, Liability, Payments, Due Year Four | 7,345 | ||
| Lessee, Operating Lease, Liability, Payments, Due Year Five | 6,508 | ||
| Lessee, Operating Lease, Liability, Payments, Due after Year Five | 34,963 | ||
| Lessee, Operating Lease, Liability, Payments, Due | 69,898 | ||
| Lessee, Operating Lease, Liability, Undiscounted Excess Amount | 10,405 | ||
| Operating Lease, Liability | 59,493 | $ 67,300 | |
| Current portion of operating lease liabilities | 6,674 | $ 6,843 | |
| Operating Lease, Liability, Noncurrent | $ 52,819 | $ 54,928 |
Leases Financial Statement Impa
| Leases Financial Statement Impact of Adopting ASC 842 (Details) - USD ($) $ in Thousands | Jun. 27, 2020 | Dec. 28, 2019 | Dec. 30, 2018 |
| Leases [Abstract] | |||
| Operating lease right-of-use asset | $ 45,978 | $ 47,478 | $ 52,800 |
| Operating Lease, Liability | $ 59,493 | $ 67,300 |
Inventory (Details)
| Inventory (Details) - USD ($) $ in Thousands | Jun. 27, 2020 | Dec. 28, 2019 |
| Inventory Disclosure [Abstract] | ||
| Inventory, Raw Materials, Net of Reserves | $ 198 | $ 2,825 |
| Inventory, Finished Goods, Net of Reserves | 132,857 | 154,522 |
| Inventory | $ 133,055 | $ 157,347 |
Goodwill, Other Intangible As_3
| Goodwill, Other Intangible Assets and Other Assets - Additional Information (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
| Jun. 27, 2020 | Jun. 29, 2019 | Jun. 27, 2020 | Jun. 29, 2019 | Dec. 28, 2019 | |
| Business Acquisition [Line Items] | |||||
| Goodwill | $ 119,521 | $ 119,521 | $ 118,732 | ||
| Amortization of Acquired Intangible Assets | $ 1,400 | $ 3,400 | $ 2,000 | $ 6,700 | |
Goodwill, Other Intangible As_4
| Goodwill, Other Intangible Assets and Other Assets - Other Intangible Assets (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
| Jun. 27, 2020 | Jun. 29, 2019 | Jun. 27, 2020 | Jun. 29, 2019 | Dec. 28, 2019 | |
| Finite-Lived Intangible Assets [Line Items] | |||||
| Document Period End Date | Jun. 27, 2020 | ||||
| Finite-Lived Intangible Assets, Gross | $ 71,595 | $ 71,595 | $ 71,231 | ||
| Intangible assets accumulated amortization | 61,171 | 61,171 | 58,879 | ||
| Intangible Assets, Net | 10,424 | 10,424 | 12,352 | ||
| Amortization of Acquired Intangible Assets | 1,400 | $ 3,400 | 2,000 | $ 6,700 | |
| Completed technology | |||||
| Finite-Lived Intangible Assets [Line Items] | |||||
| Finite-Lived Intangible Assets, Gross | 28,100 | 28,100 | 28,100 | ||
| Intangible assets accumulated amortization | 26,075 | 26,075 | 24,605 | ||
| Intangible Assets, Net | 2,025 | 2,025 | 3,495 | ||
| Trade Names | |||||
| Finite-Lived Intangible Assets [Line Items] | |||||
| Finite-Lived Intangible Assets, Gross | 100 | 100 | 100 | ||
| Intangible assets accumulated amortization | 100 | 100 | 100 | ||
| Intangible Assets, Net | 0 | 0 | 0 | ||
| Customer-Related Intangible Assets [Member] | |||||
| Finite-Lived Intangible Assets [Line Items] | |||||
| Finite-Lived Intangible Assets, Gross | 11,165 | 11,165 | 11,095 | ||
| Intangible assets accumulated amortization | 2,787 | 2,787 | 2,302 | ||
| Intangible Assets, Net | 8,378 | 8,378 | 8,793 | ||
| Distribution Rights [Member] | |||||
| Finite-Lived Intangible Assets [Line Items] | |||||
| Finite-Lived Intangible Assets, Gross | 31,972 | 31,972 | 31,680 | ||
| Intangible assets accumulated amortization | 31,972 | 31,972 | 31,680 | ||
| Intangible Assets, Net | 0 | 0 | 0 | ||
| Noncompete Agreements [Member] | |||||
| Finite-Lived Intangible Assets [Line Items] | |||||
| Finite-Lived Intangible Assets, Gross | 258 | 258 | 256 | ||
| Intangible assets accumulated amortization | 237 | 237 | 192 | ||
| Intangible Assets, Net | $ 21 | $ 21 | $ 64 | ||
Goodwill, Other Intangible As_5
| Goodwill, Other Intangible Assets and Other Assets Schedule of goodwill (Details) - USD ($) $ in Thousands | 6 Months Ended | |
| Jun. 27, 2020 | Dec. 28, 2019 | |
| Goodwill [Line Items] | ||
| Goodwill | $ 119,521 | $ 118,732 |
| Goodwill, Foreign Currency Translation Gain (Loss) | $ 789 |
Goodwill, Other Intangible As_6
| Goodwill, Other Intangible Assets and Other Assets Finite-lived intangible assets, schedule of future amortization (Details) $ in Thousands | Jun. 27, 2020USD ($) |
| Finite-lived intangible assets, schedule of amortization expense [Line Items] | |
| Remainder of 2020 | $ 943 |
| 2021 | 1,686 |
| 2022 | 1,461 |
| 2023 | 786 |
| 2024 | 786 |
| Thereafter | 4,762 |
| Total | 10,424 |
| Cost of revenue | |
| Finite-lived intangible assets, schedule of amortization expense [Line Items] | |
| Remainder of 2020 | 450 |
| 2021 | 900 |
| 2022 | 675 |
| 2023 | 0 |
| 2024 | 0 |
| Thereafter | 0 |
| Total | 2,025 |
| Operating Expense [Member] | |
| Finite-lived intangible assets, schedule of amortization expense [Line Items] | |
| Remainder of 2020 | 493 |
| 2021 | 786 |
| 2022 | 786 |
| 2023 | 786 |
| 2024 | 786 |
| Thereafter | 4,762 |
| Total | $ 8,399 |
Accrued Expenses (Details)
| Accrued Expenses (Details) - USD ($) $ in Thousands | Jun. 27, 2020 | Dec. 28, 2019 |
| Accounts Payable, Current [Abstract] | ||
| Accrued other compensation | $ 14,907 | $ 13,331 |
| Accrued warranty | 13,769 | 13,856 |
| Accrued bonus | 7,821 | 12,541 |
| Current portion of operating lease liabilities | 6,674 | 6,843 |
| Accrued direct fulfillment costs | 4,194 | 10,582 |
| Accrued sales and other indirect taxes payable | 7,134 | 12,440 |
| Accrued federal and state income taxes | 10,265 | 3,378 |
| Accrued other | 8,981 | 8,797 |
| Accrued expenses | $ 73,745 | $ 81,768 |
Derivative Instruments Schedu_2
| Derivative Instruments Schedule of Derivative Instruments (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||||
| Jun. 27, 2020 | Jun. 29, 2019 | Jun. 27, 2020 | Jun. 29, 2019 | Dec. 28, 2019 | ||
| Derivative [Line Items] | ||||||
| Document Period End Date | Jun. 27, 2020 | |||||
| Revenue | $ 279,883 | $ 260,172 | $ 472,418 | $ 497,833 | ||
| Total cost of revenue | 101,871 | 142,002 | 216,451 | 260,117 | ||
| Designated as Hedging Instrument [Member] | ||||||
| Derivative [Line Items] | ||||||
| Derivative, Notional Amount | 411,200 | 411,200 | $ 424,600 | |||
| Not Designated as Hedging Instrument [Member] | ||||||
| Derivative [Line Items] | ||||||
| Derivative, Notional Amount | 61,100 | 61,100 | 58,400 | |||
| Cash Flow Hedging [Member] | Foreign Exchange Forward [Member] | ||||||
| Derivative [Line Items] | ||||||
| Derivative Instruments, Gain Recognized in Other Comprehensive Income (Loss), Effective Portion | [1] | (3,512) | (2,054) | 4,053 | 4,350 | |
| Other Nonoperating Income (Expense) [Member] | ||||||
| Derivative [Line Items] | ||||||
| Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | (701) | $ (1,085) | (1,247) | $ (652) | ||
| Not Designated as Hedging Instrument [Member] | Accrued Liabilities [Member] | Foreign Exchange Forward [Member] | ||||||
| Derivative [Line Items] | ||||||
| Derivative Liability | 679 | 679 | 297 | |||
| Not Designated as Hedging Instrument [Member] | Other Current Assets [Member] | Foreign Exchange Forward [Member] | ||||||
| Derivative [Line Items] | ||||||
| Derivative Asset | 1,473 | 1,473 | 1,855 | |||
| Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | Accrued Liabilities [Member] | Foreign Exchange Forward [Member] | ||||||
| Derivative [Line Items] | ||||||
| Derivative Liability | 27 | 27 | 47 | |||
| Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | Other Noncurrent Liabilities [Member] | Foreign Exchange Forward [Member] | ||||||
| Derivative [Line Items] | ||||||
| Derivative Liability | 600 | 600 | 414 | |||
| Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | Other Current Assets [Member] | Foreign Exchange Forward [Member] | ||||||
| Derivative [Line Items] | ||||||
| Derivative Asset | 5,737 | 5,737 | 4,347 | |||
| Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | Other Noncurrent Assets [Member] | Foreign Exchange Forward [Member] | ||||||
| Derivative [Line Items] | ||||||
| Derivative Asset | $ 8,691 | $ 8,691 | $ 9,112 | |||
| [1] | (1) The amount represents the change in fair value of derivative contracts due to changes in spot rates. | |||||
Derivative Instruments (Details
| Derivative Instruments (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
| Jun. 27, 2020 | Jun. 29, 2019 | Jun. 27, 2020 | Jun. 29, 2019 | ||
| Derivative Instruments, Gain (Loss) [Line Items] | |||||
| Document Period End Date | Jun. 27, 2020 | ||||
| Revenue | $ 279,883 | $ 260,172 | $ 472,418 | $ 497,833 | |
| Foreign Exchange Forward [Member] | Cash Flow Hedging [Member] | |||||
| Derivative Instruments, Gain (Loss) [Line Items] | |||||
| Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, before Tax | [1] | (3,512) | (2,054) | 4,053 | 4,350 |
| Foreign Exchange Forward [Member] | Sales [Member] | Cash Flow Hedging [Member] | |||||
| Derivative Instruments, Gain (Loss) [Line Items] | |||||
| Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net | $ 1,761 | $ 359 | $ 3,718 | $ 214 | |
| [1] | (1) The amount represents the change in fair value of derivative contracts due to changes in spot rates. | ||||
Fair Value Measurements Fair Va
| Fair Value Measurements Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands | 6 Months Ended | ||||
| Jun. 27, 2020 | Dec. 28, 2019 | ||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value | $ 1,500 | $ 0 | |||
| conversion of debt | 1,500 | ||||
| Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Money Market Funds, at Carrying Value | 125,072 | ||||
| Available-for-sale Securities | 0 | [1] | 0 | ||
| Convertible Debt, Fair Value Disclosures | 0 | ||||
| Derivative Asset | 0 | 0 | |||
| Assets, Fair Value Disclosure | 125,072 | 0 | |||
| Derivative Liability | 0 | 0 | |||
| Financial and Nonfinancial Liabilities, Fair Value Disclosure | 0 | 0 | |||
| Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Money Market Funds, at Carrying Value | [2] | 0 | |||
| Available-for-sale Securities | [2] | 10,060 | [1] | 17,032 | |
| Convertible Debt, Fair Value Disclosures | [2] | 0 | |||
| Derivative Asset | 15,901 | 15,314 | [2] | ||
| Assets, Fair Value Disclosure | [2] | 25,961 | 32,346 | ||
| Derivative Liability | [2] | 1,306 | 758 | ||
| Financial and Nonfinancial Liabilities, Fair Value Disclosure | [2] | 1,306 | 758 | ||
| Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Money Market Funds, at Carrying Value | [3] | 0 | |||
| Available-for-sale Securities | [3] | 0 | [1] | 0 | |
| Convertible Debt, Fair Value Disclosures | [3] | 1,500 | |||
| Derivative Asset | [3] | 0 | 0 | ||
| Assets, Fair Value Disclosure | [3] | 1,500 | 0 | ||
| Derivative Liability | 0 | 0 | [3] | ||
| Financial and Nonfinancial Liabilities, Fair Value Disclosure | $ 0 | $ 0 | [3] | ||
| [1] | As of June 27, 2020 , the Company’s investments had maturity dates ranging from September 2020 to March 2021. | ||||
| [2] | Level 2 fair value estimates are based on observable inputs other than quoted prices in active markets for identical assets and liabilities, quoted prices for identical or similar assets or liabilities in inactive markets, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. | ||||
| [3] | Level 3 fair value estimates are based on inputs that are generally unobservable and typically reflect management’s estimates of assumptions that market participants would use in pricing the asset or liability. Unobservable inputs used in the models are significant to the fair values of the assets and liabilities. | ||||
Stockholders Equity (Details)
| Stockholders Equity (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended |
| Mar. 28, 2020 | Jun. 27, 2020 | |
| Equity [Abstract] | ||
| Stock Repurchase Program, Authorized Amount | $ 25,000 | |
| Stock Repurchased and Retired During Period, Shares | 663,602 | 664,000 |
| Stock Repurchased and Retired During Period, Value | $ 25,000 | $ 25,000 |
Commitments and Contingencies -
| Commitments and Contingencies - Additional Information (Detail) $ in Millions | Jun. 27, 2020USD ($) |
| Outstanding POs [Abstract] | |
| Contractual Obligation | $ 337.5 |
Commitments and Contingencies_2
| Commitments and Contingencies - Activity Related to Warranty Accrual (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
| Jun. 27, 2020 | Jun. 29, 2019 | Jun. 27, 2020 | Jun. 29, 2019 | |
| Movement in Standard Product Warranty Accrual [Roll Forward] | ||||
| Balance at beginning of period | $ 13,998 | $ 11,628 | $ 13,856 | $ 11,964 |
| Provision | 3,396 | 2,682 | 7,870 | 5,333 |
| Warranty usage | (3,625) | (2,340) | (7,957) | (5,327) |
| Balance at end of period | $ 13,769 | $ 11,970 | $ 13,769 | $ 11,970 |
Income Taxes (Details)
| Income Taxes (Details) | 3 Months Ended | 6 Months Ended | ||
| Jun. 27, 2020 | Jun. 29, 2019 | Jun. 27, 2020 | Jun. 29, 2019 | |
| Income Tax Disclosure [Abstract] | ||||
| Effective Income Tax Rate Reconciliation, Percent | 16.10% | (6.30%) | 18.50% | 2.00% |
Industry Segment, Geographic _3
| Industry Segment, Geographic Information and Significant Customers - Segment Information about Revenue, Cost of Revenue, Gross Margin and Income before Income Taxes (Detail) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
| Jun. 27, 2020USD ($) | Jun. 29, 2019USD ($) | Jun. 27, 2020USD ($)segment | Jun. 29, 2019USD ($) | |
| Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | ||||
| Number of Reportable Segments | segment | 1 | |||
| Total cost of revenue | $ 101,871 | $ 142,002 | $ 216,451 | $ 260,117 |
| Gross profit | 178,012 | 118,170 | 255,967 | 237,716 |
| Research and development | 36,557 | 35,650 | 73,316 | 70,919 |
| Selling and marketing | 49,062 | 56,409 | 85,656 | 95,245 |
| General and administrative | 21,856 | 20,592 | 46,429 | 43,499 |
| Other income, net | $ (384) | $ 1,533 | $ (403) | $ 2,813 |
| Amazon [Member] | Customer Concentration Risk [Member] | Revenue Benchmark [Member] | ||||
| Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | ||||
| Concentration Risk, Percentage | 35.10% | 28.00% | 26.20% | 22.30% |
Industry Segment, Geographic _4
| Industry Segment, Geographic Information and Significant Customers - Additional Information (Detail) - segment | 3 Months Ended | 6 Months Ended | ||
| Jun. 27, 2020 | Jun. 29, 2019 | Jun. 27, 2020 | Jun. 29, 2019 | |
| Revenues from External Customers and Long-Lived Assets [Line Items] | ||||
| Number of Reportable Segments | 1 | |||
| Document Period End Date | Jun. 27, 2020 | |||
| Revenue Benchmark [Member] | Amazon [Member] | Customer Concentration Risk [Member] | ||||
| Revenues from External Customers and Long-Lived Assets [Line Items] | ||||
| Concentration Risk, Percentage | 35.10% | 28.00% | 26.20% | 22.30% |
Subsequent Event (Details)
| Subsequent Event (Details) $ in Millions | 3 Months Ended |
| Jun. 27, 2020USD ($) | |
| Subsequent Event [Line Items] | |
| Recovery of Import Duties | $ 8.5 |