iRobot (IRBT) 10-Q 8 May 24 2024 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 30, 2024	Apr. 26, 2024
Cover [Abstract]
Document Type	10-Q
Document Period End Date	Mar. 30, 2024
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	2024
Document Fiscal Period Focus	Q1
Current Fiscal Year End Date	--12-28
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		28,757,254

Consolidated Balance Sheets (Un

Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Mar. 30, 2024	Dec. 30, 2023
Current assets:
Cash and cash equivalents	$ 118,356	$ 185,121
Restricted cash	40,012	0
Accounts receivable, net	39,318	79,387
Inventory	133,318	152,469
Other current assets	40,860	48,513
Total current assets	371,864	465,490
Property and equipment, net	34,330	40,395
Operating lease right-of-use assets	18,712	19,642
Deferred tax assets	8,153	8,512
Goodwill	169,740	175,105
Intangible Assets, Net	4,682	5,044
Other assets	18,642	19,510
Total assets	626,123	733,698
Current liabilities:
Accounts payable	103,194	178,318
Accrued expenses	93,837	97,999
Deferred revenue and customer advances	10,330	10,830
Total current liabilities	207,361	287,147
Term loan	168,636	201,501
Operating lease liabilities	26,255	27,609
Other long-term liabilities	19,802	20,954
Total long-term liabilities	214,693	250,064
Total liabilities	422,054	537,211
Commitments and contingencies (Note 12)
Preferred stock, 5,000 shares authorized and none outstanding	0	0
Common stock, $0.01 par value, 100,000 shares authorized; 28,757 and 27,964 shares issued and outstanding, respectively	288	280
Additional paid-in capital	301,710	290,755
Accumulated deficit	(96,688)	(105,295)
Accumulated other comprehensive (loss) income	(1,241)	10,747
Total stockholders’ equity	204,069	196,487
Total liabilities and stockholders’ equity	$ 626,123	$ 733,698

Consolidated Balance Sheets (_2

Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Mar. 30, 2024	Dec. 30, 2023
Preferred stock, shares authorized	5,000,000	5,000,000
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares outstanding	28,757,000	27,964,000
Common stock, shares issued	28,757,000	27,964,000

Consolidated Statements of Inco

Consolidated Statements of Income Statement - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 30, 2024	Apr. 01, 2023
Revenue	$ 150,014	$ 160,292
Cost of product revenue	113,913	123,269
Amortization of acquired intangible assets	0	282
Total cost of revenue	113,913	123,551
Gross profit	36,101	36,741
Research and development	33,878	41,269
Selling and marketing	29,716	42,476
General and administrative	(53,711)	30,310
Restructuring and other	14,146	3,805
Amortization of acquired intangible assets	172	178
Total operating expenses	24,201	118,038
Operating income (loss)	11,900	(81,297)
Other expense, net	(3,185)	(1,077)
Income (loss) before income taxes	8,715	(82,374)
Income tax expense (benefit)	108	(1,262)
Net income (loss)	$ 8,607	$ (81,112)
Basic	$ 0.31	$ (2.95)
Diluted	$ 0.30	$ (2.95)
Basic	28,171	27,467
Diluted	28,266	27,467

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 30, 2024	Apr. 01, 2023
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 8,607	$ (81,112)
Other comprehensive loss, net of tax:
Net foreign currency translation adjustments	(7,226)	1,720
Net unrealized losses (gains) on cash flow hedges	3,213	(1,823)
Net gains on cash flow hedge reclassified into earnings	(4,886)	(5,403)
Change in fair value of term loan due to instrument-specific credit risk	(3,089)	0
Total comprehensive loss	$ (3,381)	$ (86,618)

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 (in shares) at Dec. 31, 2022		27,423,000
Beginning balance at Dec. 31, 2022	$ 475,716	$ 274	$ 257,498	$ 199,415	$ 18,529
Issuance of common stock under employee stock plans (in shares)	9,000	9,000
Stock Issued During Period, Value, Stock Options Exercised		$ 0	9
Stock Issued During Period, Shares, Restricted Stock Award, Net of Forfeitures (in shares)		199,000
Stock Issued During Period, Value, Restricted Stock Award, Net of Forfeitures	$ 0	$ 2	(2)
APIC, Share-based Payment Arrangement, Increase for Cost Recognition	7,932		7,932
Shares Paid for Tax Withholding for Share Based Compensation (in shares)		(37,000)
Stock Withheld to Cover Tax Withholding Requirements Upon Vesting to Restricted Stock Units Amount	(1,600)	$ 0	(1,600)
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	(5,506)
Net income (loss)	(81,112)			(81,112)
Ending balance (in shares) at Apr. 01, 2023		27,594,000
Ending balance at Apr. 01, 2023	$ 395,439	$ 276	263,837	118,303	13,023
Beginning balance (in shares) at Dec. 30, 2023	27,964,000	27,964,000
Beginning balance at Dec. 30, 2023	$ 196,487	$ 280	290,755	(105,295)	10,747
Stock Issued During Period, Shares, Restricted Stock Award, Net of Forfeitures (in shares)		234,000
Stock Issued During Period, Value, Restricted Stock Award, Net of Forfeitures	0	$ 2	(2)
APIC, Share-based Payment Arrangement, Increase for Cost Recognition	7,948		7,948
CEO transition costs related to stock-based awards	(2,227)		(2,227)
Shares Paid for Tax Withholding for Share Based Compensation (in shares)		(38,000)
Stock Withheld to Cover Tax Withholding Requirements Upon Vesting to Restricted Stock Units Amount	(390)	$ 0	(390)
Issuance of common stock, net of issuance costs (in shares)		597,000
Issuance of common stock, net of issuance costs	5,632	$ 6	5,626
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	(11,988)				(11,988)
Net income (loss)	$ 8,607			8,607
Ending balance (in shares) at Mar. 30, 2024	28,757,000	28,757,000
Ending balance at Mar. 30, 2024	$ 204,069	$ 288	$ 301,710	$ (96,688)	$ (1,241)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 30, 2024	Apr. 01, 2023
Cash flows from operating activities:
Net income (loss)	$ 8,607	$ (81,112)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and amortization	5,812	7,542
Gain (Loss) on Investments	(375)	0
Stock-based compensation	7,948	7,932
Change in fair value of term loan	(1,008)	0
Debt issuance costs expensed under fair value option	239	0
Deferred income taxes, net	(127)	647
Other	(3,452)	(3,562)
Changes in operating assets and liabilities — (use) source
Accounts receivable	38,565	37,147
Inventory	16,266	52,947
Other assets	6,045	53
Accounts payable	(74,601)	(109,930)
Accrued expenses and other liabilities	(3,232)	(6,171)
Net cash provided by (used in) operating activities	1,437	(94,507)
Cash flows from investing activities:
Additions of property and equipment	(118)	(1,456)
Purchase of investments	0	(73)
Net cash used in investing activities	(118)	(1,529)
Cash flows from financing activities:
Proceeds from employee stock plans	0	9
Income tax withholding payment associated with restricted stock vesting	(390)	(1,600)
Proceeds from issuance of common stock, net of issuance costs	5,632	0
Proceeds from credit facility	0	27,000
Repayment of term loan	(34,947)	0
Payment of debt issuance costs	(239)	0
Net cash (used in) provided by financing activities	(29,944)	25,409
Effect of exchange rate changes on cash, cash equivalents and restricted cash	882	593
Net decrease in cash, cash equivalents and restricted cash	(27,743)	(70,034)
Cash, cash equivalents and restricted cash, at beginning of period	187,887	117,949
Cash, cash equivalents and restricted cash, at end of period	160,144	47,915
Cash, cash equivalents and restricted cash, at end of period:
Cash and cash equivalents	118,356	47,915
Restricted cash	40,012	0
Restricted cash, non-current (included in other assets)	1,776	0
Cash, cash equivalents and restricted cash, at end of period	$ 160,144	$ 47,915

Nature of the Business

Nature of the Business	3 Months Ended
	Mar. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of the Business	Nature of the Business iRobot Corporation ("iRobot" or the "Company") designs, builds and sells robots and home innovations that make life better. The Company's portfolio of home robots and smart home devices features proprietary technologies for the connected home and advanced concepts in cleaning, mapping and navigation, human-robot interaction and physical solutions. iRobot's durable and high-performing robots are designed using the close integration of software, electronics and hardware. The Company's revenue is primarily generated from product sales through a variety of distribution channels, including chain stores and other national retailers, through the Company's own website and app, dedicated e-commerce websites, the online arms of traditional retailers and through value-added distributors and resellers worldwide. Termination of Merger Agreement As previously disclosed, on August 4, 2022, the Company entered into an Agreement and Plan of Merger (the "Original Merger Agreement") with Amazon.com, Inc., a Delaware corporation ("Parent" or "Amazon"), and Martin Merger Sub, Inc., a Delaware corporation and an indirect wholly owned subsidiary of Amazon ("Merger Sub"), providing for, among other things, the merger of Merger Sub with and into iRobot, with the Company surviving the merger as a wholly owned subsidiary of Parent (the "Merger", and, together with the other transactions contemplated by the Merger Agreement (as defined below), the "Transactions"). On July 24, 2023, iRobot, Amazon and Merger Sub entered into an amendment to the Original Merger Agreement (the "Amendment", and the Original Merger Agreement, as amended and supplemented by the Amendment, the "Merger Agreement"). The Amendment adjusted the merger consideration to reflect the incurrence of the Term Loan (see Note 9, Debt, for additional information). On January 28, 2024, the Company and Amazon mutually agreed to terminate the Merger Agreement and entered into a mutual termination agreement effective as of such date (the "Termination Agreement"). The termination of the Merger Agreement was approved by the Company's Board of Directors ("Board"). In accordance with the terms of the Termination Agreement, Amazon made a cash payment to the Company in the previously agreed amount of $94.0 million (the "Parent Termination Fee") on January 29, 2024. As a result of the termination of the Merger Agreement and receipt of the Parent Termination Fee of $94.0 million from Amazon, the Company made a payment of $18.8 million for professional fees incurred in connection with the Transactions. In accordance with the terms of the Credit Agreement (as defined below), the Company applied $35.0 million to repay a portion of the Term Loan. The remaining $40.0 million of the Parent Termination Fee was set aside as restricted cash to be used for future repayments of the Term Loan subject to limited rights of the Company to utilize such amounts for the purchase of inventory. See Note 9, Debt , for additional information. The Parent Termination Fee received net of professional fees paid was $75.2 million and was recorded as a benefit in general and administrative expenses on the consolidated statements of operations.

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 30, 2024
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Basis of Presentation and Foreign Currency Translation 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 addition, certain prior year amounts have been reclassified to conform to the current year presentation, including separate presentation of restructuring and other costs on the consolidated statements of operations. These reclassifications have no material effect on the reported financial results. 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 30, 2023, filed with the Securities and Exchange Commission on February 27, 2024. 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. Liquidity The accompanying unaudited consolidated financial statements have been prepared assuming that the Company will continue as a going concern, which contemplates the continuity of operations, realization of assets, and liquidation of liabilities in the normal course of business. In first quarter of fiscal 2024, the Company's performance continued to be impacted by lower orders from retailers and distributors largely resulting from a decline in consumer sentiment and increased pricing competition in the market. During the three months ended March 30, 2024, the Company's revenue declined 6.4% compared to the three months ended April 1, 2023. The Company's operating income of $11.9 million and operating cash inflows of $1.4 million for the three months ended March 30, 2024 benefited from the one-time receipt of the Parent Termination Fee net of professional fees paid of $75.2 million. At March 30, 2024, the Company's cash and cash equivalents were $118.4 million. The Company also had $41.8 million in restricted cash, $40.0 million of which is set aside for future repayment of the Term Loan subject to limited rights for the purchase of inventory in the third quarters of fiscal 2024 and 2025. Management has considered and assessed its ability to continue as a going concern for the one year from the date that the unaudited consolidated financial statements are issued. Management's assessment included the preparation of cash flow forecasts taking into account the restructuring actions and maintaining debt covenant compliance. On January 29, 2024, following the termination of the Merger Agreement, the Company announced an operational restructuring plan to more closely align its cost structure with near-term revenue expectations and drive profitability. The 2024 operational restructuring plan is structured to: • achieve gross margin improvements through a focus on design-to-value and more beneficial terms with the Company's existing and new manufacturing partners; • lower research and development expenditure by pausing work unrelated to the Company's core floorcare business and shifting to greater reliance on contract manufacturers as it relates to the lower-value commodity engineering work; • return selling and marketing expenditures to a more normalized level, consistent with industry standards in the consumer products market, by centralizing resources on more limited geographies and consolidating marketing efforts for efficiencies; and • further reduce headcount by approximately 350 employees, which represents approximately 31% of the Company's global workforce as of December 30, 2023. In addition to the reduction of its headcount, the Company signed three sublease agreements during fiscal 2022 and 2023 to sublease portions of its headquarters. iRobot expects these sublease agreements will generate $4.0 million in sublease cash payments in the future over the remaining lease terms. The Company expects to continue to right size its global real estate footprint through additional subleasing at its corporate headquarters and the elimination of offices in smaller, underperforming geographies. Inventory has consumed a significant amount of cash and the Company continues to manage its inventory level carefully to ensure efficiency in its working capital. As of March 30, 2024, the inventory balance was $133.3 million, or 107 days, a reduction of $19.2 million from the end of fiscal 2023. The Company plans to continue to manage its inventory to a level that aligns with current run rates and seasonality of the business. While management estimates such actions will be sufficient to allow it to maintain liquidity and its operations in the ordinary course for at least 12 months from the issuance of these financial statements, there can be no assurance the Company will generate sufficient future cash flows from operations due to potential factors, including, but not limited to, further inflation, the continuing higher interest rates, ongoing recessionary conditions or continued reduced demand for the Company's products due to consumer sentiment or competition. If the Company is not successful in increasing demand for its products, or if macroeconomic conditions further constrain consumer demand, the Company may continue to experience adverse impacts to revenue and profitability. Additional actions within the Company's control to maintain its liquidity and operations include optimizing its production volumes with contract manufacturers by reducing inventory supply forecast for cancellable purchase orders, further reducing discretionary spending in all areas of the business and realigning resources through ongoing attrition without rehiring activity. In addition, the Company may need additional financing, including public or private equity or debt financing, to execute on its current or future business strategy, and additional financing may not be available or on terms favorable to the Company. The consolidated financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classification of liabilities that may result from the outcome of these uncertainties. Recently Issued Accounting Standards From time to time, new accounting pronouncements are issued by the Financial Accounting Standards Board 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 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 revenue and expenses. These estimates and judgments, include but are not limited to, revenue recognition, including variable consideration and other obligations such as sales incentives and product returns; impairment of goodwill and long-lived assets; valuation of non-marketable equity investments; valuation of debt; inventory excess and obsolescence; loss contingencies; and accounting for income taxes and related valuation allowances. The Company bases its estimates and assumptions on historical experience, market participant fair value considerations, projected future cash flows, current economic conditions, and various other factors that the Company believes are reasonable under the circumstances. Actual results and outcomes may differ from the Company's estimates and assumptions. Cash, Cash Equivalents and Restricted Cash The Company considers all highly liquid investments with maturity of three months or less at the time of purchase to be cash and cash equivalents. The Company's restricted cash balance totaled $41.8 million as of March 30, 2024, $40.0 million of which is set aside for future repayment of the Term Loan subject to limited rights of the Company to utilize such amounts for the purchase of inventory in the third quarters of fiscal 2024 and 2025. The remaining $1.8 million of restricted cash is used as collateral for the Company's credit card program and to secure the outstanding letters of credit and is included in other assets on the consolidated balance sheet. Allowance for Credit Losses The Company maintains an allowance for credit losses for accounts receivable using an expected loss model that requires the use of forward-looking information to calculate credit loss estimate. The expected loss methodology is developed through consideration of factors including, but not limited to, historical collection experience, current customer credit ratings, customer concentrations, current and future economic and market conditions and age of the receivable. The Company reviews and adjusts the allowance for credit losses on a quarterly basis. Accounts receivable balances are written off against the allowance when the Company determines that the balances are not recoverable. At March 30, 2024 and December 30, 2023, the Company had an allowance for credit losses of $2.7 million. Inventory Inventory primarily consists of finished goods and, to a lesser extent, components, which are purchased from contract manufacturers. Inventory is stated at the lower of cost or net realizable value with cost being determined using the standard cost method, which approximates actual costs determined on the first-in, first-out basis. Inventory costs primarily consist of materials, inbound freight, import duties and other handling fees. The Company writes down its inventory for estimated obsolescence or excess inventory based upon assumptions around market conditions and estimates of future demand including consideration of product life cycle status, product development plans and current sales levels. Inventory write-downs and losses on purchase commitments are recorded in cost of revenue. Net realizable value is the estimated selling price less estimated costs of completion, disposal and transportation. Adjustments to reduce inventory to net realizable value are recognized in cost of revenue. Impairment of Goodwill and Long-Lived Assets During the three months ended March 30, 2024, the Company identified a triggering event as a result of the termination of the Merger Agreement. The Company performed a quantitative assessment of goodwill using the market capitalization approach and a discounted cash flow analysis. The discounted cash flow analysis involves significant estimates and assumptions such as discount rate, projected future revenues, projected future operating margins and terminal growth rates. The Company concluded that the fair value exceeded the carrying value at the triggering event date, which resulted in no impairment to goodwill. In addition, the Company performed an impairment assessment on its long-lived assets by comparing undiscounted future cash flows against the net book value of the underlying asset, and concluded no impairment to long-lived assets. Strategic Investments 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 in orderly transactions for identical or similar investments of the same issuer. These investments are valued using significant unobservable inputs or data in an inactive market and the valuation requires the Company's judgment due to the absence of market prices and inherent lack of liquidity. The Company monitors non-marketable equity investments for impairment indicators, such as deterioration in the investee's financial condition and business forecasts and lower valuations in recent or proposed financings. The estimated fair value is based on quantitative and qualitative factors including, but not limited to, subsequent financing activities by the investee and projected discounted cash flows. The Company performs an assessment on a quarterly basis to assess whether triggering events for impairment exist and to identify any observable price changes. Changes in fair value of non-marketable equity investments are recorded in other expense, net on the consolidated statements of operations. At March 30, 2024 and December 30, 2023, the Company's equity securities without readily determinable fair values totaled $11.0 million and $11.4 million, respectively, and are included in other assets on the consolidated balance sheets. Net Income (Loss) Per Share Basic income (loss) per share is calculated using the Company's weighted-average outstanding common shares. Diluted income (loss) 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 (loss) per share (in thousands, except per share amounts): Three Months Ended March 30, 2024 April 1, 2023 Net income (loss) $ 8,607 $ (81,112) Basic weighted-average shares outstanding 28,171 27,467 Dilutive effect of employee stock plans 95 — Diluted weighted-average shares outstanding 28,266 27,467 Basic income (loss) per share $ 0.31 $ (2.95) Diluted income (loss) per share $ 0.30 $ (2.95)

Revenue Recognition

Revenue Recognition	3 Months Ended
	Mar. 30, 2024
Revenue Recognition and Deferred Revenue [Abstract]
Revenue Recognition	Revenue Recognition The Company primarily derives its revenue from the sale of consumer robots and accessories. The Company sells products directly to consumers through online stores and indirectly through resellers and distributors. Revenue is recognized upon transfer of control of promised products or services to customers in an amount that reflects the consideration the Company expects to receive in exchange for those products or services. Revenue is allocated to distinct performance obligations and is recognized net of allowances for returns and other credits and incentives. Revenue is recognized only to the extent that it is probable that a significant reversal of revenue will not occur and when collection is considered probable. 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. Frequently, the Company's contracts with customers contain multiple promised goods or services. Such contracts may include any of the following, the consumer robot, downloadable app, cloud services, accessories on demand, potential future unspecified software upgrades and extended warranties. For these contracts, the Company accounts for the promises separately as individual performance obligations if they are distinct. Performance obligations are considered distinct if they are both capable of being distinct and distinct within the context of the contract. In determining whether performance obligations meet the criteria for being distinct, the Company considers a number of factors, such as the degree of interrelation and interdependence between obligations, and whether or not the good or service significantly modifies or transforms another good or service in the contract. The Company allocates revenue to all distinct performance obligations based on their relative stand-alone selling prices ("SSPs"). When available, the Company uses observable prices to determine SSPs. When observable prices are not available, SSPs are established that reflect the Company's best estimates of what the selling prices of the performance obligations would be if they were sold regularly on a stand-alone basis. The Company's process for estimating SSPs without observable prices considers multiple factors that may vary depending upon the facts and circumstances related to each performance obligation including market data or the estimated cost of providing the products or services. The transaction price allocated to the robot is recognized as revenue at a point in time when control is transferred, generally as title and risk of loss pass, and when collection is considered probable. The transaction price allocated to services and support is deferred and recognized over their service periods. For contracts with a duration of greater than one year, the transaction price allocated to performance obligations that are unsatisfied as of March 30, 2024 and December 30, 2023 was $17.0 million and $18.4 million, respectively. 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 Accounting Standards Codification ("ASC") 460, "Guarantees." For contracts with the right to upgrade to a new product after a specified period of time, the Company accounts for this trade-in right as a guarantee obligation under ASC 460. The total transaction price is reduced by the full amount of the trade-in right's fair value and the remaining transaction price is allocated between the performance obligations within the contract. The Company provides limited rights of returns for direct-to-consumer sales generated through its online 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 the time of sale and updated at the end of each reporting period as additional information becomes available. As of March 30, 2024, the Company had reserves for product returns of $13.4 million and other credits and incentives of $60.5 million. As of December 30, 2023, the Company had reserves for product returns of $24.6 million and other credits and incentives of $95.3 million. The Company regularly evaluates the adequacy of its estimates for product returns and other credits and incentives. Future market conditions and product transitions may require the Company to take action to change such programs and related estimates. When the variables used to estimate these reserves change, or if actual results differ significantly from the estimates, the Company increases or reduces revenue to reflect the impact. During the three months ended March 30, 2024 and April 1, 2023, changes to these estimates related to performance obligations satisfied in prior periods were not material. Disaggregation of Revenue The following table provides information about disaggregated revenue by geographical region (in thousands): Three Months Ended March 30, 2024 April 1, 2023 United States $ 68,896 $ 71,986 EMEA 45,088 46,681 Japan 27,718 32,894 Other 8,312 8,731 Total revenue $ 150,014 $ 160,292 Contract Balances The following table provides information about receivables and contract liabilities from contracts with customers (in thousands): March 30, 2024 December 30, 2023 Accounts receivable, net $ 36,613 $ 77,112 Contract liabilities 17,549 18,702 The Company invoices customers based upon contractual billing schedules, and accounts receivable are recorded when the right to consideration becomes unconditional. Contract liabilities include deferred revenue associated with services and extended warranty plans as well as prepayments received from customers in advance of product shipments. During the three months ended March 30, 2024 and April 1, 2023, the Company recognized $3.4 million and $4.2 million, respectively, of the contract liability balance as revenue upon transfer of the products or services to customers.

Restructuring and Other Charges

Restructuring and Other Charges	3 Months Ended
	Mar. 30, 2024
Restructuring and Related Activities [Abstract]
Restructuring and Other Charges	Restructuring and Other Charges During the three months ended March 30, 2024 and April 1, 2023, the Company recorded restructuring and other charges of $14.1 million and $3.8 million, respectively, in the consolidated statements of operations. The Company believes that the majority of charges relating to the restructuring announced in January 2024 have occurred in the first quarter of fiscal 2024. The components of restructuring and other charges were as follows (in thousands): Three Months Ended March 30, 2024 April 1, 2023 Cash restructuring charges: Severance and other personnel costs $ 11,346 $ 3,665 Other restructuring costs 2,706 140 CEO transition costs 443 — Total cash charges 14,495 3,805 Non-cash charges: Asset write offs 1,878 — CEO transition costs related to stock-based awards (2,227) — Total non-cash charges (349) — Total restructuring and other charges $ 14,146 $ 3,805 On January 29, 2024, following the termination of the Merger Agreement, the Company announced an operational restructuring plan which includes a reduction in headcount. During the first quarter of fiscal 2024, 330 employees have been notified and the total estimated restructuring cost was approximately $15.0 million, of which $11.3 million is recorded in the three months ended March 30, 2024, with the remaining cost to be recognized during the second quarter of fiscal 2024. These charges consist primarily of employee termination benefits including severance, payroll taxes and other benefits. In addition, the operational restructuring plan includes actions to pause work unrelated to the Company's core floorcare business and, as a result, recorded restructuring costs of $4.6 million. These charges typically consist of write-offs on certain fixed assets as well as material liabilities at contract manufacturers due to termination of programs. In conjunction with the termination of the Merger Agreement, Colin Angle, the Company's then-Chief Executive Officer, stepped down as an officer of the Company and from his position as chairman of the Board effective January 28, 2024. The Board appointed Glen D. Weinstein, the Company's then Executive Vice President and Chief Legal Officer, as Interim Chief Executive Officer while a search was conducted for a permanent CEO. CEO transition costs represent costs incurred for CEO search fees and charges associated with the transition and separation agreement with Colin Angle which include compensation during the transition period as well as an adjustment for modification of stock-based awards. The following table presents a roll-forward of cash restructuring-related liabilities, which is included within accounts payable and accrued expenses in the consolidated balance sheet (in thousands): Severance and other personnel costs Other restructuring costs CEO transition costs Total Balance as of December 30, 2023 $ — $ — $ — $ — Charges 11,346 2,706 443 14,495 Cash payments (3,088) (298) (287) (3,673) Balance as March 30, 2024 $ 8,258 $ 2,408 $ 156 $ 10,822 The Company expects the remaining balance to be paid within the next twelve months.

Leases

Leases	3 Months Ended
	Mar. 30, 2024
Leases [Abstract]
Leases	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 and equipment under various non-cancelable lease arrangements. The operating leases expire at various dates through 2030. The Company currently has three sublease agreements for space at its headquarters. At March 30, 2024, the Company's weighted average discount rate wa s 4.17%, while the weighted average remaining lease term w as 5.74 years. The components of lease expense were as follows (in thousands): Three Months Ended March 30, 2024 April 1, 2023 Operating lease cost $ 1,358 $ 1,715 Variable lease cost 1,091 825 Sublease income (370) (44) Net lease cost $ 2,079 $ 2,496 Supplemental cash flow information related to leases was as follows (in thousands): Three Months Ended March 30, 2024 April 1, 2023 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 1,708 $ 2,008 Right-of-use assets obtained in exchange for lease obligations: Operating leases $ — $ — Maturities of operating lease liabilities and sublease payments were as follows as of March 30, 2024 (in thousands): Operating Lease Payments Sublease Payments Net Remainder of 2024 $ 4,530 $ (831) $ 3,699 2025 6,083 (556) 5,527 2026 6,049 (572) 5,477 2027 5,904 (589) 5,315 2028 5,474 (607) 4,867 Thereafter 7,574 (840) 6,734 Total minimum lease payments $ 35,614 $ (3,995) $ 31,619 Less: imputed interest 4,278 Present value of future minimum lease payments $ 31,336 Less: current portion of operating lease liabilities (Note 8) 5,081 Long-term lease liabilities $ 26,255

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 30, 2024
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements Fair Value Measurements - Recurring Basis 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 Level 3 Assets: Money market funds $ 56,584 $ — $ — Restricted cash (Note 2) 40,012 — — Restricted cash, non-current (Note 2) 1,776 — — Derivative instruments (Note 10) — 634 — Total assets measured at fair value $ 98,372 $ 634 $ — Liabilities: Term loan (unpaid principal of $176,075) (Note 9) $ — $ — $ 168,636 Derivative instruments (Note 10) — 515 — Total liabilities measured at fair value $ — $ 515 $ 168,636 Fair Value Measurements as of Level 1 Level 2 Level 3 Assets: Money market funds $ 117,652 $ — $ — Restricted cash, current 1,000 — — Restricted cash, non-current (Note 2) 1,766 — — Derivative instruments (Note 10) — 3,999 — Total assets measured at fair value $ 120,418 $ 3,999 $ — Liabilities: Term loan (unpaid principal of $200,000 ) (Note 9) $ — $ — $ 201,501 Derivative instruments (Note 10) — 7,643 — Total liabilities measured at fair value $ — $ 7,643 $ 201,501 The following table provides a summary of changes in fair value of our Level 3 instrument for the three months ended March 30, 2024 (in thousands): Balance as of December 30, 2023 $ 201,501 Repayment (34,947) Change in fair value 2,082 Balance as of March 30, 2024 $ 168,636 As discussed further in Note 9 to the consolidated financial statements, the Company elected to recognize the Term Loan under the fair value option. The fair value of the Term Loan as of March 30, 2024 has been determined based on a discounted cash flow model, which represents Level 3 measurements. Estimates of the fair value are highly subjective and require judgements regarding significant matters, such as the amount and timing of future cash flows, expected interest rate volatility and the discount rate. The use of different assumptions could have a material effect on the fair value estimates.

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	3 Months Ended
	Mar. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets	Goodwill and Other Intangible Assets The following table summarizes the activity in the carrying amount of goodwill and intangible assets for the three months ended March 30, 2024 (in thousands): Goodwill Intangible assets Balance as of December 30, 2023 $ 175,105 $ 5,044 Amortization — (172) Effect of foreign currency translation (5,365) (190) Balance as of March 30, 2024 $ 169,740 $ 4,682

Accrued Expenses

Accrued Expenses	3 Months Ended
	Mar. 30, 2024
Accrued Liabilities, Current [Abstract]
Accrued Expenses	Accrued Expenses Accrued expenses consisted of the following (in thousands): March 30, 2024 December 30, 2023 Accrued warranty $ 21,608 $ 24,625 Accrued returns and sales incentives 18,381 12,897 Accrued compensation and benefits 15,446 13,593 Accrued restructuring and other 9,981 1,894 Current portion of operating lease liabilities 5,081 5,216 Accrued manufacturing and logistics cost 4,803 5,462 Accrued interest 3,806 4,498 Accrued taxes payable 2,698 8,927 Accrued merger related liabilities 2,225 4,721 Derivative liability 515 7,276 Accrued other 9,293 8,890 $ 93,837 $ 97,999

Debt

Debt	3 Months Ended
	Mar. 30, 2024
Debt Disclosure [Abstract]
Debt	Debt Term Loan On July 24, 2023, the Company entered into a Credit Agreement (the "Credit Agreement") by and among the Company, as borrower, each lender from time to time party thereto and TCG Senior Funding L.L.C., an affiliate of The Carlyle Group, as administrative agent and collateral agent, providing for a $200.0 million senior secured term loan credit facility (the "Term Loan"). Total proceeds from the Term Loan were $188.2 million, net of $11.8 million of debt issuance costs. The Term Loan matures on July 24, 2026. The Term Loan bears interest at a rate per annum equal to, at the Company's option, (i) a rate based on term SOFR plus a credit spread adjustment plus a 9.00% spread or (ii) a rate based on the base rate plus a rate adjustment plus an 8.00% spread. A portion of each spread equal to 2.5% is paid in kind by capitalizing such option into principal of the Term Loan. In the event of repayment, prepayment or acceleration of all or any portion of the Term Loan, the Company is required to pay to the lenders an additional amount which represents a minimum guaranteed return on the Term Loan that ranges between 1.30x and 1.75x of the principal in accordance with the provisions within the Credit Agreement. The minimum guaranteed return range is based on the date on which it is paid. The Credit Agreement provides for mandatory prepayments of borrowings under certain circumstances, including non-ordinary course asset sales and incurrence of other indebtedness, subject to customary exceptions. The Credit Agreement contains customary affirmative covenants, including financial statement reporting requirements and delivery of compliance certificates. The Credit Agreement also contains customary negative covenants that limit the Company's and its subsidiaries' ability to, among other things, grant or incur liens, incur additional indebtedness, make certain restricted investments or payments, including payment of dividends on its capital stock and payments on certain permitted indebtedness, enter into certain mergers and acquisitions or engage in certain asset sales, subject in each case to certain exceptions. In addition, the Credit Agreement contains a financial covenant that the Company will not permit its consolidated core assets (comprising cash, accounts receivable and inventory), measured on the last day of each fiscal month, to be less than $250.0 million which amount is subject to increase or decrease upon certain triggers related to the payment or non-payment of any termination fees under the Amended Merger Agreement (or fees in lieu of such termination fees) and the occurrence or non-occurrence of the Merger. As a result of the termination of the Merger Agreement and receipt of the Parent Termination Fee of $94.0 million from Amazon on January 29, 2024, $35.0 million of such Parent Termination Fee was used immediately to repay a portion of the Term Loan, and $40.0 million of the Parent Termination Fee has been set aside in a restricted account to be used for future repayments of the Term Loan subject to limited rights of the Company to utilize such amounts for the purchase of inventory in the third quarters of fiscal 2024 and 2025. The $35.0 million repayment was applied to the principal, interest and the 1.4x minimum guaranteed return, reducing the principal balance of the loan to $176.1 million. With the termination of the Merger Agreement and the $35.0 million repayment, the applicable minimum guaranteed return ranges between 1.4x and 1.7x of the principal and the consolidated core assets financial covenant is reduced to $200.0 million. To access the $40.0 million of restricted cash for inventory purchases, the Company must certify to its lenders that the Company has pro forma consolidated core assets of $275.0 million and no default or event of default under the Credit Agreement. As of March 30, 2024, the Company was in compliance with the covenants under the Term Loan. The Credit Agreement also contains customary events of default (subject to certain exceptions, thresholds and grace periods), such as the failure to pay obligations when due, breach of certain covenants, including the financial covenant, cross-default or cross-acceleration of certain indebtedness, bankruptcy-related defaults, judgment defaults, and the occurrence of certain change of control events involving the Company. The occurrence of an event of default may result in the termination of the Credit Agreement and acceleration of repayment obligations with respect to any outstanding loans or letters of credit under the Term Loan. The obligations under the Term Loan are guaranteed by the Company and certain of its subsidiaries located in the United States, United Kingdom and Japan. The Company is also required to add additional subsidiaries to guarantee the obligations under the Term Loan as a result of the termination of the Merger Agreement. In addition, the obligations under the Term Loan are secured by a first priority lien on substantially all tangible and intangible property of the Company and the guarantors and pledges of the equity of certain subsidiaries, in each case subject to certain exceptions, limitations and exclusions from the collateral. Upon issuance, the Company elected to account for the Term Loan under the fair value option. The primary reason for electing the fair value option is for simplification and cost-benefit considerations of accounting for the Term Loan at fair value in its entirety versus bifurcation of the embedded features. The fair value of the Term Loan was determined using a discounted cash flow model which represents Level 3 measurements. The significant assumptions used in the discounted cash flow model include the amount and timing of future cash flows, expected interest rate volatility and the discount rate. Under the fair value election, debt issuance costs are expensed as incurred, and debt liability is subsequently valued at fair market value, including paid in kind interest, during each reporting period until its settlement. The Company's outstanding debt as of March 30, 2024 was as follows (in thousands): Classification March 30, 2024 Term Loan at fair value at December 30, 2023 $ 201,501 Repayment (34,947) Change in fair value of term loan due to instrument-specific credit risk Other comprehensive loss 3,089 Remaining changes in fair value Other expense, net (1,007) Term Loan at fair value as of March 30, 2024 $ 168,636 During the three months ended March 30, 2024, the Company recorded $5.5 million of interest expense in other expense, net on the consolidated statement of operations related to the quarterly cash interest, $3.8 million of which is unpaid and included in accrued expenses on the consolidated balance sheet as of March 30, 2024.

Derivative Instruments and Hedg

Derivative Instruments and Hedging Activities	3 Months Ended
	Mar. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments and Hedging Activities	Derivative Instruments and Hedging Activities The Company enters into derivative instruments that are designated as cash flow hedges to reduce its exposure to foreign currency exchange risk in sales. These contracts have historically had a maturity of three years or less. During three months ended March 30, 2024 and April 1, 2023, the Company terminated foreign currency forward contracts with a notional value of $102.9 million and $151.7 million, respectively, resulting in net cash proceeds of $2.7 million and a net cash payment of $2.5 million, respectively, which were recognized within cash provided by (used in) operating activities in the consolidated statements of cash flows. Amounts previously recorded in AOCI were frozen at the time of termination, and will be recognized in earnings when the original forecasted transaction occurs. At March 30, 2024, the Company had no outstanding cash flow hedges. As of December 30, 2023, the Company had outstanding cash flow hedges with a total notional value of $114.4 million. The Company also enters into economic hedges that are not designated as hedges from an accounting standpoint to reduce foreign currency exchange risks related to short term trade receivables and payables. These contracts typically have maturities of three months or less. At March 30, 2024 and December 30, 2023, the Company had outstanding foreign currency economic hedges with a total notional value of $17.9 million and $252.0 million, respectively. The fair values of derivative instruments were as follows (in thousands): Fair Value Classification March 30, 2024 December 30, 2023 Derivatives not designated as hedging instruments: Foreign currency forward contracts Other current assets $ 634 $ 2,929 Foreign currency forward contracts Accrued expenses 515 4,586 Derivatives designated as cash flow hedges: Foreign currency forward contracts Other current assets $ — $ 1,070 Foreign currency forward contracts Accrued expenses — 2,690 Foreign currency forward contracts Long-term liabilities — 367 Gain (loss) associated with derivative instruments not designated as hedging instruments were as follows (in thousands): Three Months Ended Classification March 30, 2024 April 1, 2023 Gain (loss) recognized in income Other expense, net $ 1,265 $ (811) 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 March 30, 2024 April 1, 2023 Foreign currency forward contracts $ 3,213 $ (1,823) (1) The amount represents the change in fair value of derivative contracts due to changes in spot rates. Gain recognized in earnings on cash flow hedging instruments Three Months Ended March 30, 2024 April 1, 2023 Revenue Consolidated statements of operations in which the effects of cash flow hedging instruments are recorded $ 150,014 $ 160,292 Gain on cash flow hedging relationships: Foreign currency forward contracts: Amount of gain reclassified from AOCI into earnings $ 4,886 $ 5,403

Stockholders Equity

Stockholders Equity	3 Months Ended
	Mar. 30, 2024
Equity [Abstract]
Stockholders' Equity	Stockholders' Equity ATM Equity Offering In February 2024, the Company entered into an ATM Equity Offering Sales Agreement (the "ATM Agreement") with BofA Securities, Inc. ("BofA") pursuant to which the Company may offer and sell, from time to time, at the Company's option, up to an aggregate of $100.0 million in shares of Common Stock through BofA, as sales agent, in an "at the market" offering. The shares will be offered and sold pursuant to an effective automatic shelf registration statement on Form S-3, which was originally filed with the Securities and Exchange Commission on February 27, 2024. BofA will receive a commission up to 3.00% of the aggregate gross sales proceeds of any Common Stock sold through BofA under the ATM Agreement. During the three months ended March 30, 2024, the Company sold an aggregate of 0.6 million shares under the ATM Agreement, and received proceeds of $5.6 million, net of total issuance costs of $0.7 million incurred in connection with the offering. As of March 30, 2024, $93.7 million remained available for further sale under the ATM Agreement.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 30, 2024
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. On March 8, 2024, purported Company shareholder Dylan Das filed a putative class action in the U.S. District Court for the District of New Jersey against the Company and certain of its officers, captioned Dylan Das v. iRobot Corporation, et al., No. 2:24-cv-02138. The parties have agreed to transfer the case to the U.S. District Court for the District of Massachusetts. The complaint alleges violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, as amended, and Rule 10b-5 thereunder based on allegedly false and misleading statements and omissions concerning the likelihood of regulatory approval of the Merger and its impact on the Company's 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. Given the uncertainty of litigation, the preliminary stage of the case, and the legal standards that must be met for, among other things, class certification and success on the merits, the Company cannot estimate the reasonably possible loss or range of loss, if any, that may result from this action. Commitments to Suppliers The Company utilizes contract manufacturers to build its products and some of its accessories. These contract manufacturers manage the supply of components, capacity and resources to build products based on a forecasted production plan, which typically covers a rolling 12-month period. During the normal course of business, and in order to ensure adequate supply, the Company enters into purchase commitments with contract manufacturers and suppliers. In certain instances, these purchase commitments allow the Company the option to cancel, reschedule and/or adjust the supply requirements based on its business needs for a period of time before the order is due to be fulfilled. In some instances, these purchase commitments are not cancellable in the event of a change in demand or other circumstances, such as where the contract manufacturer and/or supplier has built products, semi-finished products or procured and/or ordered unique, iRobot-specific designs, and/or specific non-cancellable, non-returnable components based on the provided forecasts. If the Company cancels all or part of the orders, or materially reduces forecasted orders, in certain circumstances the Company may be liable to its contract manufacturers and/or suppliers for the cost of the excess components purchased by its contract manufacturers based on the forecasted production plan and the purchase terms of its component suppliers. During the three months ended March 30, 2024, the Company paid $1.5 million to its contract manufacturers for such liabilities and recorded as inventory components. In addition, during this period the Company recognized $2.8 million associated with losses on purchase commitments. 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 had no liabilities recorded for these agreements as of March 30, 2024 and December 30, 2023, 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 8) in the accompanying consolidated balance sheets. Activity related to the warranty accrual was as follows (in thousands): Three Months Ended March 30, 2024 April 1, 2023 Balance at beginning of period $ 24,625 $ 27,379 Provision 3,047 3,477 Warranty claims (6,064) (6,238) Balance at end of period $ 21,608 $ 24,618

Income Taxes (Notes)

Income Taxes (Notes)	3 Months Ended
	Mar. 30, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company's interim provision for income taxes is determined using an estimate of the annual effective tax rate. The Company records any changes affecting the estimated annual effective tax rate in the interim period in which the change occurs. The Company also records the tax effects of certain discrete items, including tax effects of changes in a valuation allowance, during the interim period in which they occur. The Company has assessed, on a jurisdictional basis, the realization of its net deferred tax assets, including the ability to carry back net operating losses, the existence of taxable temporary differences, the availability of tax planning strategies and available sources of future taxable income. The Company has concluded that a valuation allowance on its U.S. net deferred tax assets continues to be appropriate. In addition, valuation allowances were established in certain foreign jurisdictions during fiscal 2023 considering cumulative taxable losses in recent years and uncertainty with respect to future taxable income. A valuation allowance is a non-cash charge, and does not limit the Company’s ability to utilize its deferred tax assets, including its ability to utilize tax loss and credit carryforward amounts, against future taxable income. The amount of the deferred tax assets considered realizable, and the associated valuation allowance, could be adjusted in a future period if estimates of future taxable income change or if objective negative evidence in the form of cumulative losses is no longer present and additional weight is given to subjective evidence such as projections for future growth.

Industry Segment, Geographic In

Industry Segment, Geographic Information and Significant Customers	3 Months Ended
	Mar. 30, 2024
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 are offered to consumers through a variety of distribution channels, including chain stores and other national retailers, through the Company's own website and app, dedicated e-commerce websites, the online arms of traditional retailers, and through value-added distributors and resellers worldwide. Significant Customers For the three months ended March 30, 2024 and April 1, 2023, the Company generated 20.2% and 12.0%, respectively, of total revenue from one of its retailers.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended
	Mar. 30, 2024	Apr. 01, 2023
Pay vs Performance Disclosure
Net income (loss)	$ 8,607	$ (81,112)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Mar. 30, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 30, 2024
Accounting Policies [Abstract]
Basis of Presentation and Foreign Currency Translation	Basis of Presentation and Foreign Currency Translation 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 addition, certain prior year amounts have been reclassified to conform to the current year presentation, including separate presentation of restructuring and other costs on the consolidated statements of operations. These reclassifications have no material effect on the reported financial results. 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 30, 2023, filed with the Securities and Exchange Commission on February 27, 2024.
Fiscal Period, Policy	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 Issued Accounting Standards	Recently Issued Accounting Standards From time to time, new accounting pronouncements are issued by the Financial Accounting Standards Board 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 revenue and expenses. These estimates and judgments, include but are not limited to, revenue recognition, including variable consideration and other obligations such as sales incentives and product returns; impairment of goodwill and long-lived assets; valuation of non-marketable equity investments; valuation of debt; inventory excess and obsolescence; loss contingencies; and accounting for income taxes and related valuation allowances. The Company bases its estimates and assumptions on historical experience, market participant fair value considerations, projected future cash flows, current economic conditions, and various other factors that the Company believes are reasonable under the circumstances. Actual results and outcomes may differ from the Company's estimates and assumptions.
Cash, cash equivalents and restricted cash	Cash, Cash Equivalents and Restricted Cash The Company considers all highly liquid investments with maturity of three months or less at the time of purchase to be cash and cash equivalents. The Company's restricted cash balance totaled $41.8 million as of March 30, 2024, $40.0 million of which is set aside for future repayment of the Term Loan subject to limited rights of the Company to utilize such amounts for the purchase of inventory in the third quarters of fiscal 2024 and 2025. The remaining $1.8 million of restricted cash is used as collateral for the Company's credit card program and to secure the outstanding letters of credit and is included in other assets on the consolidated balance sheet.
Allowance for Credit Losses	Allowance for Credit Losses The Company maintains an allowance for credit losses for accounts receivable using an expected loss model that requires the use of forward-looking information to calculate credit loss estimate. The expected loss methodology is developed through consideration of factors including, but not limited to, historical collection experience, current customer credit ratings, customer concentrations, current and future economic and market conditions and age of the receivable. The Company reviews and adjusts the allowance for credit losses on a quarterly basis. Accounts receivable balances are written off against the allowance when the Company determines that the balances are not recoverable. At March 30, 2024 and December 30, 2023, the Company had an allowance for credit losses of $2.7 million.
Inventory	Inventory Inventory primarily consists of finished goods and, to a lesser extent, components, which are purchased from contract manufacturers. Inventory is stated at the lower of cost or net realizable value with cost being determined using the standard cost method, which approximates actual costs determined on the first-in, first-out basis. Inventory costs primarily consist of materials, inbound freight, import duties and other handling fees. The Company writes down its inventory for estimated obsolescence or excess inventory based upon assumptions around market conditions and estimates of future demand including consideration of product life cycle status, product development plans and current sales levels. Inventory write-downs and losses on purchase commitments are recorded in cost of revenue. Net realizable value is the estimated selling price less estimated costs of completion, disposal and transportation. Adjustments to reduce inventory to net realizable value are recognized in cost of revenue.
Short-Term and Strategic Investments	Strategic Investments 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 in orderly transactions for identical or similar investments of the same issuer. These investments are valued using significant unobservable inputs or data in an inactive market and the valuation requires the Company's judgment due to the absence of market prices and inherent lack of liquidity. The Company monitors non-marketable equity investments for impairment indicators, such as deterioration in the investee's financial condition and business forecasts and lower valuations in recent or proposed financings. The estimated fair value is based on quantitative and qualitative factors including, but not limited to, subsequent financing activities by the investee and projected discounted cash flows. The Company performs an assessment on a quarterly basis to assess whether triggering events for impairment exist and to identify any observable price changes. Changes in fair value of non-marketable equity investments are recorded in other expense, net on the consolidated statements of operations. At March 30, 2024 and December 30, 2023, the Company's equity securities without readily determinable fair values totaled $11.0 million and $11.4 million, respectively, and are included in other assets on the consolidated balance sheets.
Net (Loss) Income Per Share	Net Income (Loss) Per Share Basic income (loss) per share is calculated using the Company's weighted-average outstanding common shares. Diluted income (loss) 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 (loss) per share (in thousands, except per share amounts): Three Months Ended March 30, 2024 April 1, 2023 Net income (loss) $ 8,607 $ (81,112) Basic weighted-average shares outstanding 28,171 27,467 Dilutive effect of employee stock plans 95 — Diluted weighted-average shares outstanding 28,266 27,467 Basic income (loss) per share $ 0.31 $ (2.95) Diluted income (loss) per share $ 0.30 $ (2.95)

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	3 Months Ended
	Mar. 30, 2024
Accounting Policies [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	The following table presents the calculation of both basic and diluted net income (loss) per share (in thousands, except per share amounts): Three Months Ended March 30, 2024 April 1, 2023 Net income (loss) $ 8,607 $ (81,112) Basic weighted-average shares outstanding 28,171 27,467 Dilutive effect of employee stock plans 95 — Diluted weighted-average shares outstanding 28,266 27,467 Basic income (loss) per share $ 0.31 $ (2.95) Diluted income (loss) per share $ 0.30 $ (2.95)

Revenue Recognition (Tables)

Revenue Recognition (Tables)	3 Months Ended
	Mar. 30, 2024
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 March 30, 2024 April 1, 2023 United States $ 68,896 $ 71,986 EMEA 45,088 46,681 Japan 27,718 32,894 Other 8,312 8,731 Total revenue $ 150,014 $ 160,292
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): March 30, 2024 December 30, 2023 Accounts receivable, net $ 36,613 $ 77,112 Contract liabilities 17,549 18,702

Restructuring and Other Charg_2

Restructuring and Other Charges (Tables)	3 Months Ended
	Mar. 30, 2024
Restructuring and Related Activities [Abstract]
Components of Restructuring and Other Charges	The components of restructuring and other charges were as follows (in thousands): Three Months Ended March 30, 2024 April 1, 2023 Cash restructuring charges: Severance and other personnel costs $ 11,346 $ 3,665 Other restructuring costs 2,706 140 CEO transition costs 443 — Total cash charges 14,495 3,805 Non-cash charges: Asset write offs 1,878 — CEO transition costs related to stock-based awards (2,227) — Total non-cash charges (349) — Total restructuring and other charges $ 14,146 $ 3,805 The following table presents a roll-forward of cash restructuring-related liabilities, which is included within accounts payable and accrued expenses in the consolidated balance sheet (in thousands): Severance and other personnel costs Other restructuring costs CEO transition costs Total Balance as of December 30, 2023 $ — $ — $ — $ — Charges 11,346 2,706 443 14,495 Cash payments (3,088) (298) (287) (3,673) Balance as March 30, 2024 $ 8,258 $ 2,408 $ 156 $ 10,822

Leases (Tables)

Leases (Tables)	3 Months Ended
	Mar. 30, 2024
Leases [Abstract]
Lease, Cost [Table Text Block]	The components of lease expense were as follows (in thousands): Three Months Ended March 30, 2024 April 1, 2023 Operating lease cost $ 1,358 $ 1,715 Variable lease cost 1,091 825 Sublease income (370) (44) Net lease cost $ 2,079 $ 2,496
Schedule of Leases, Supplemental Cash Flow [Table Text Block]	Supplemental cash flow information related to leases was as follows (in thousands): Three Months Ended March 30, 2024 April 1, 2023 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 1,708 $ 2,008 Right-of-use assets obtained in exchange for lease obligations: Operating leases $ — $ —
Lessee, Operating Lease, Liability, Maturity [Table Text Block]	Maturities of operating lease liabilities and sublease payments were as follows as of March 30, 2024 (in thousands): Operating Lease Payments Sublease Payments Net Remainder of 2024 $ 4,530 $ (831) $ 3,699 2025 6,083 (556) 5,527 2026 6,049 (572) 5,477 2027 5,904 (589) 5,315 2028 5,474 (607) 4,867 Thereafter 7,574 (840) 6,734 Total minimum lease payments $ 35,614 $ (3,995) $ 31,619 Less: imputed interest 4,278 Present value of future minimum lease payments $ 31,336 Less: current portion of operating lease liabilities (Note 8) 5,081 Long-term lease liabilities $ 26,255

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 30, 2024
Fair Value Disclosures [Abstract]
Schedule of Financial Assets and Liabilities Measured at Fair Value	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 Level 3 Assets: Money market funds $ 56,584 $ — $ — Restricted cash (Note 2) 40,012 — — Restricted cash, non-current (Note 2) 1,776 — — Derivative instruments (Note 10) — 634 — Total assets measured at fair value $ 98,372 $ 634 $ — Liabilities: Term loan (unpaid principal of $176,075) (Note 9) $ — $ — $ 168,636 Derivative instruments (Note 10) — 515 — Total liabilities measured at fair value $ — $ 515 $ 168,636 Fair Value Measurements as of Level 1 Level 2 Level 3 Assets: Money market funds $ 117,652 $ — $ — Restricted cash, current 1,000 — — Restricted cash, non-current (Note 2) 1,766 — — Derivative instruments (Note 10) — 3,999 — Total assets measured at fair value $ 120,418 $ 3,999 $ — Liabilities: Term loan (unpaid principal of $200,000 ) (Note 9) $ — $ — $ 201,501 Derivative instruments (Note 10) — 7,643 — Total liabilities measured at fair value $ — $ 7,643 $ 201,501
Summary of Changes in Fair Value of Level 3 Instruments	The following table provides a summary of changes in fair value of our Level 3 instrument for the three months ended March 30, 2024 (in thousands): Balance as of December 30, 2023 $ 201,501 Repayment (34,947) Change in fair value 2,082 Balance as of March 30, 2024 $ 168,636

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets (Tables)	3 Months Ended
	Mar. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	The following table summarizes the activity in the carrying amount of goodwill and intangible assets for the three months ended March 30, 2024 (in thousands): Goodwill Intangible assets Balance as of December 30, 2023 $ 175,105 $ 5,044 Amortization — (172) Effect of foreign currency translation (5,365) (190) Balance as of March 30, 2024 $ 169,740 $ 4,682

Accrued Expenses (Tables)

Accrued Expenses (Tables)	3 Months Ended
	Mar. 30, 2024
Accrued Liabilities, Current [Abstract]
Components of Accrued Expenses	Accrued expenses consisted of the following (in thousands): March 30, 2024 December 30, 2023 Accrued warranty $ 21,608 $ 24,625 Accrued returns and sales incentives 18,381 12,897 Accrued compensation and benefits 15,446 13,593 Accrued restructuring and other 9,981 1,894 Current portion of operating lease liabilities 5,081 5,216 Accrued manufacturing and logistics cost 4,803 5,462 Accrued interest 3,806 4,498 Accrued taxes payable 2,698 8,927 Accrued merger related liabilities 2,225 4,721 Derivative liability 515 7,276 Accrued other 9,293 8,890 $ 93,837 $ 97,999

Debt (Tables)

Debt (Tables)	3 Months Ended
	Mar. 30, 2024
Debt Disclosure [Abstract]
Outstanding Debt	The Company's outstanding debt as of March 30, 2024 was as follows (in thousands): Classification March 30, 2024 Term Loan at fair value at December 30, 2023 $ 201,501 Repayment (34,947) Change in fair value of term loan due to instrument-specific credit risk Other comprehensive loss 3,089 Remaining changes in fair value Other expense, net (1,007) Term Loan at fair value as of March 30, 2024 $ 168,636

Derivative Instruments and He_2

Derivative Instruments and Hedging Activities (Tables)	3 Months Ended
	Mar. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivative Instruments [Table Text Block]	The fair values of derivative instruments were as follows (in thousands): Fair Value Classification March 30, 2024 December 30, 2023 Derivatives not designated as hedging instruments: Foreign currency forward contracts Other current assets $ 634 $ 2,929 Foreign currency forward contracts Accrued expenses 515 4,586 Derivatives designated as cash flow hedges: Foreign currency forward contracts Other current assets $ — $ 1,070 Foreign currency forward contracts Accrued expenses — 2,690 Foreign currency forward contracts Long-term liabilities — 367
Derivative Instruments, Gain (Loss) [Table Text Block]	Gain (loss) associated with derivative instruments not designated as hedging instruments were as follows (in thousands): Three Months Ended Classification March 30, 2024 April 1, 2023 Gain (loss) recognized in income Other expense, net $ 1,265 $ (811) Gain recognized in earnings on cash flow hedging instruments Three Months Ended March 30, 2024 April 1, 2023 Revenue Consolidated statements of operations in which the effects of cash flow hedging instruments are recorded $ 150,014 $ 160,292 Gain on cash flow hedging relationships: Foreign currency forward contracts: Amount of gain reclassified from AOCI into earnings $ 4,886 $ 5,403
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 March 30, 2024 April 1, 2023 Foreign currency forward contracts $ 3,213 $ (1,823) (1) The amount represents the change in fair value of derivative contracts due to changes in spot rates.

Commitments and Contingencies (

Commitments and Contingencies (Tables)	3 Months Ended
	Mar. 30, 2024
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 March 30, 2024 April 1, 2023 Balance at beginning of period $ 24,625 $ 27,379 Provision 3,047 3,477 Warranty claims (6,064) (6,238) Balance at end of period $ 21,608 $ 24,618

Nature of the Business (Details

Nature of the Business (Details) - USD ($) $ in Thousands			3 Months Ended
	Jan. 31, 2024	Jan. 29, 2024	Mar. 30, 2024	Apr. 01, 2023
Business Acquisition [Line Items]
Repayments of Long-Term Debt			$ 34,947	$ 0
Secured Debt | Credit Agreement | Line of Credit
Business Acquisition [Line Items]
Repayments of Long-Term Debt	$ 35,000		$ 34,947
Termination Fee Received, Restricted Cash Set Aside For Future Repayments Of Long-Term Debt	40,000
Amazon, Inc.
Business Acquisition [Line Items]
Proceeds From Termination Of Merger		$ 94,000
Professional Fees	18,800
Proceeds net of professional fees	$ 75,200

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Additional Information (Details) shares in Millions				3 Months Ended		12 Months Ended	24 Months Ended
	Jan. 31, 2024 USD ($)	Jan. 29, 2024 employee	Jul. 24, 2023 USD ($)	Mar. 30, 2024 USD ($) sublease_agreement shares	Apr. 01, 2023 USD ($) shares	Dec. 30, 2023 USD ($)	Dec. 30, 2023 USD ($) sublease_agreement
Debt and Equity Securities, FV-NI [Line Items]
Decrease in revenue				6.40%
Operating income (loss)				$ 11,900,000	$ (81,297,000)
Provided by (used in) operating activities				1,437,000	(94,507,000)
Restricted cash				41,800,000
Cash and cash equivalents				$ 118,356,000	47,915,000	$ 185,121,000	$ 185,121,000
Number of sublease agreements | sublease_agreement				3			3
Inventory				$ 133,318,000		152,469,000	$ 152,469,000
Days in inventory				107 days
Decrease in inventory				$ 19,200,000
Allowance for credit loss				2,700,000		2,700,000	2,700,000
Equity securities without readily determinable fair value				11,000,000		$ 11,400,000	11,400,000
Restructuring and other				$ 14,146,000	$ 3,805,000
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | shares				3	1
Expected number of positions to be eliminated | employee		350
Restructuring and Related Cost, Expected Number Of Positions Eliminated, Period Percent						31%
Lessor, Operating Lease, Payment to be Received				$ 3,995,000
Restricted cash				40,012,000	$ 0	$ 0	0
Restricted cash, non-current (included in other assets)				1,776,000	$ 0
Goodwill impairment loss				0
Impairment Of Long-Lived Assets				$ 0
Amazon, Inc.
Debt and Equity Securities, FV-NI [Line Items]
Proceeds net of professional fees	$ 75,200,000
Secured Debt | Line of Credit | Credit Agreement
Debt and Equity Securities, FV-NI [Line Items]
Face amount			$ 200,000,000			$ 200,000,000	$ 200,000,000
Proceeds net of debt issuance costs			$ 188,200,000

Summary of Significant Accoun_5

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
	Mar. 30, 2024	Apr. 01, 2023
Disclosure Basic And Diluted Net Income Per Share [Abstract]
Net income (loss)	$ 8,607	$ (81,112)
Basic	28,171	27,467
Dilutive effect of employee stock options and restricted shares	95	0
Diluted	28,266	27,467
Basic income per share	$ 0.31	$ (2.95)
Diluted income per share	$ 0.30	$ (2.95)

Revenue Recognition - Significa

Revenue Recognition - Significant Judgments (Details) - USD ($) $ in Millions	Mar. 30, 2024	Dec. 30, 2023
Revenue Recognition and Deferred Revenue [Abstract]
Revenue, Remaining Performance Obligation, Amount	$ 17	$ 18.4
Refund liability, product returns	13.4	24.6
Refund liability, other credits and incentives	$ 60.5	$ 95.3

Revenue Recognition - Disaggreg

Revenue Recognition - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 30, 2024	Apr. 01, 2023
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	$ 150,014	$ 160,292
United States
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	68,896	71,986
EMEA
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	45,088	46,681
Japan
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	27,718	32,894
Other
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	$ 8,312	$ 8,731

Revenue Recognition - Contract

Revenue Recognition - Contract Balances (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 30, 2024	Apr. 01, 2023	Dec. 30, 2023
Revenue Recognition and Deferred Revenue [Abstract]
Accounts receivable, net	$ 36,613		$ 77,112
Contract liabilities	17,549		$ 18,702
Contract with Customer, Liability, Revenue Recognized	$ 3,400	$ 4,200

Restructuring and Other Charg_3

Restructuring and Other Charges - Additional Information (Details) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 30, 2024 USD ($) employee	Apr. 01, 2023 USD ($)	Dec. 30, 2023
Restructuring and Related Activities [Abstract]
Restructuring and other	$ 14,146	$ 3,805
Number of positions eliminated | employee	330
Restructuring and Related Cost, Expected Number Of Positions Eliminated, Period Percent			31%
Estimated restructuring cost	$ 15,000
Restructuring and Related Cost, Cost Incurred to Date	11,300
Restructuring costs	$ 4,600

Restructuring and Other Charg_4

Restructuring and Other Charges - Components of Restructuring and Other Chrages (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 30, 2024	Apr. 01, 2023
Restructuring Cost and Reserve [Line Items]
Total cash charges	$ 14,495	$ 3,805
Total non-cash charges	(349)	0
Restructuring and other	14,146	3,805
Restructuring Reserve [Roll Forward]
Restructuring Reserve, Beginning Balance	0
Charges	14,495	3,805
Cash payments	(3,673)
Restructuring Reserve, Ending Balance	10,822
Severance and other personnel costs
Restructuring Cost and Reserve [Line Items]
Total cash charges	11,346	3,665
Restructuring Reserve [Roll Forward]
Restructuring Reserve, Beginning Balance	0
Charges	11,346	3,665
Cash payments	(3,088)
Restructuring Reserve, Ending Balance	8,258
Other restructuring costs
Restructuring Cost and Reserve [Line Items]
Total cash charges	2,706	140
Restructuring Reserve [Roll Forward]
Restructuring Reserve, Beginning Balance	0
Charges	2,706	140
Cash payments	(298)
Restructuring Reserve, Ending Balance	2,408
CEO transition costs
Restructuring Cost and Reserve [Line Items]
Total cash charges	443	0
Restructuring Reserve [Roll Forward]
Restructuring Reserve, Beginning Balance	0
Charges	443	0
Cash payments	(287)
Restructuring Reserve, Ending Balance	156
Asset write offs
Restructuring Cost and Reserve [Line Items]
Total non-cash charges	1,878	0
CEO transition costs related to stock-based awards
Restructuring Cost and Reserve [Line Items]
Total non-cash charges	$ (2,227)	$ 0

Leases - Narrative (Details)

Leases - Narrative (Details)	Mar. 30, 2024
Leases [Abstract]
Weighted average discount rate	4.17%
Weighted average remaining lease term (in years)	5 years 8 months 26 days

Leases - Lease Cost (Details)

Leases - Lease Cost (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 30, 2024	Apr. 01, 2023
Leases [Abstract]
Operating lease cost	$ 1,358	$ 1,715
Variable lease cost	1,091	825
Sublease income	(370)	(44)
Net lease cost	$ 2,079	$ 2,496

Leases - Supplemental Cash Flow

Leases - Supplemental Cash Flow (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 30, 2024	Apr. 01, 2023
Leases [Abstract]
Document Period End Date	Mar. 30, 2024
Operating Lease, Payments	$ 1,708	$ 2,008
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability	$ 0	$ 0

Leases - Maturity of Operating

Leases - Maturity of Operating Lease Liability (Details) - USD ($) $ in Thousands	Mar. 30, 2024	Dec. 30, 2023
Operating Lease Payments
Remainder of 2024	$ 4,530
2025	6,083
2026	6,049
2027	5,904
2028	5,474
Thereafter	7,574
Total minimum lease payments	35,614
Less: imputed interest	4,278
Present value of future minimum lease payments	31,336
Current portion of operating lease liabilities	5,081	$ 5,216
Long-term lease liabilities	26,255	$ 27,609
Sublease Payments
Remainder of 2024	(831)
2025	(556)
2026	(572)
2027	(589)
2028	(607)
Thereafter	(840)
Total minimum lease payments	(3,995)
Net
Remainder of 2024	3,699
2025	5,527
2026	5,477
2027	5,315
2028	4,867
Thereafter	6,734
Total minimum lease payments	$ 31,619

Leases - Financial Statement Im

Leases - Financial Statement Impact of Adopting ASC 842 (Details) - USD ($) $ in Thousands	Mar. 30, 2024	Dec. 30, 2023
Leases [Abstract]
Operating lease right-of-use asset	$ 18,712	$ 19,642
Present value of future minimum lease payments	$ 31,336

Fair Value Measurements - Fair

Fair Value Measurements - Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands	Mar. 30, 2024	Dec. 30, 2023	Jul. 24, 2023
Secured Debt | Credit Agreement | Line of Credit
Liabilities:
Term loan (unpaid principal of $176,075) (Note 9)	$ 168,636	$ 201,501
Principal balance	176,075
Face amount		200,000	$ 200,000
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Assets:
Total assets measured at fair value	98,372	120,418
Liabilities:
Total liabilities measured at fair value	0	0
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Derivative Instrument
Assets:
Derivative instruments (Note 10)	0	0
Liabilities:
Derivative instruments (Note 10)	0	0
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Term Loan
Liabilities:
Term loan (unpaid principal of $176,075) (Note 9)	0	0
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Money Market Funds
Assets:
Money market funds	56,584	117,652
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Restricted Cash
Assets:
Restricted cash, current	40,012	1,000
Restricted cash, non-current (Note 2)	1,776	1,766
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Assets:
Total assets measured at fair value	634	3,999
Liabilities:
Total liabilities measured at fair value	515	7,643
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Derivative Instrument
Assets:
Derivative instruments (Note 10)	634	3,999
Liabilities:
Derivative instruments (Note 10)	515	7,643
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Term Loan
Liabilities:
Term loan (unpaid principal of $176,075) (Note 9)	0	0
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Money Market Funds
Assets:
Money market funds	0	0
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Restricted Cash
Assets:
Restricted cash, current	0	0
Restricted cash, non-current (Note 2)	0	0
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3
Assets:
Total assets measured at fair value	0	0
Liabilities:
Total liabilities measured at fair value	168,636	201,501
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 | Derivative Instrument
Assets:
Derivative instruments (Note 10)	0	0
Liabilities:
Derivative instruments (Note 10)	0	0
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 | Term Loan
Liabilities:
Term loan (unpaid principal of $176,075) (Note 9)	168,636	201,501
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 | Money Market Funds
Assets:
Money market funds	0	0
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 | Restricted Cash
Assets:
Restricted cash, current	0	0
Restricted cash, non-current (Note 2)	$ 0	$ 0

Fair Value Measurements - Summa

Fair Value Measurements - Summary of Changes in Fair Value of Level 3 Instruments (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 30, 2024	Apr. 01, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Repayment	$ (34,947)	$ 0
Change in fair value	(1,008)	$ 0
Fair Value, Inputs, Level 3 | Fair Value, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Beginning balance	201,501
Repayment	(34,947)
Change in fair value	2,082
Ending balance	$ 168,636

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets - Schedule of Goodwill (Details) $ in Thousands	3 Months Ended
	Mar. 30, 2024 USD ($)
Goodwill
Balance as of December 30, 2023	$ 175,105
Effect of foreign currency translation	(5,365)
Balance as of March 30, 2024	169,740
Intangible assets
Balance as of December 30, 2023	5,044
Amortization	(172)
Effect of foreign currency translation	(190)
Balance as of March 30, 2024	$ 4,682

Accrued Expenses (Details)

Accrued Expenses (Details) - USD ($) $ in Thousands	Mar. 30, 2024	Dec. 30, 2023
Accounts Payable, Current [Abstract]
Accrued warranty	$ 21,608	$ 24,625
Accrued returns and sales incentives	18,381	12,897
Accrued compensation and benefits	15,446	13,593
Restructuring-related liabilities	9,981	1,894
Current portion of operating lease liabilities	5,081	5,216
Accrued manufacturing and logistics cost	4,803	5,462
Accrued interest	3,806	4,498
Accrued taxes payable	2,698	8,927
Accrued merger related liabilities	2,225	4,721
Derivative liability	515	7,276
Accrued other	9,293	8,890
Accrued expenses	$ 93,837	$ 97,999

Debt - Narrative (Details)

Debt - Narrative (Details) - USD ($) $ in Thousands				3 Months Ended
	Jan. 31, 2024	Jan. 29, 2024	Jul. 24, 2023	Mar. 30, 2024	Apr. 01, 2023	Dec. 30, 2023
Line of Credit Facility [Line Items]
Debt issuance costs expensed under fair value option				$ 239	$ 0
Accrued interest				3,806		$ 4,498
Repayments of Long-Term Debt				34,947	$ 0
Interest expense				5,500
Amazon, Inc.
Line of Credit Facility [Line Items]
Proceeds From Termination Of Merger		$ 94,000
Required Proforma Consolidated Core Assets	$ 275,000
Secured Debt | Line of Credit | Credit Agreement
Line of Credit Facility [Line Items]
Face amount			$ 200,000			$ 200,000
Principal balance				176,075
Proceeds net of debt issuance costs			188,200
Debt issuance costs			$ 11,800
PIK interest			2.50%
Minimum of consolidated core assets			$ 250,000
Repayments of Long-Term Debt	35,000			$ 34,947
Termination Fee Received, Restricted Cash Set Aside For Future Repayments Of Long-Term Debt	40,000
Secured Debt | Line of Credit | Credit Agreement | Amazon, Inc.
Line of Credit Facility [Line Items]
Principal balance	176,100
Debt Instrument, Consolidated Core Assets	$ 200,000
Secured Debt | Line of Credit | Term SOFR | Credit Agreement
Line of Credit Facility [Line Items]
Basis spread on variable rate			9%
Secured Debt | Line of Credit | Base Rate | Credit Agreement
Line of Credit Facility [Line Items]
Basis spread on variable rate			8%

Debt - Outstanding Debt (Detail

Debt - Outstanding Debt (Details) - USD ($) $ in Thousands		3 Months Ended
	Jan. 31, 2024	Mar. 30, 2024	Apr. 01, 2023
Line of Credit Facility [Line Items]
Repayment		$ (34,947)	$ 0
Remaining changes in fair value		(1,008)	$ 0
Secured Debt | Credit Agreement | Line of Credit
Line of Credit Facility [Line Items]
Term Loan at fair value at December 30, 2023		201,501
Repayment	$ (35,000)	(34,947)
Change in fair value of term loan due to instrument-specific credit risk		3,089
Remaining changes in fair value		(1,007)
Term Loan at fair value as of March 30, 2024		$ 168,636

Derivative Instruments and He_3

Derivative Instruments and Hedging Activities - Schedule of Derivative Instruments (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 30, 2024	Apr. 01, 2023	Dec. 30, 2023
Derivative [Line Items]
Derivative, Remaining Maturity	3 years
Foreign Exchange Forward [Member]
Derivative [Line Items]
Derivative, Notional Amount, Terminated Contracts	$ 102,900	$ 151,700
Proceeds from derivative instruments	2,700
Payments for derivative instruments		$ 2,500
Designated as Hedging Instrument [Member]
Derivative [Line Items]
Derivative, Notional Amount	0		$ 114,400
Not Designated as Hedging Instrument [Member]
Derivative [Line Items]
Derivative, Notional Amount	17,900		252,000
Not Designated as Hedging Instrument [Member] | Foreign Exchange Forward [Member]
Derivative [Line Items]
Derivative instruments (Note 10)	634		2,929
Derivative instruments (Note 10)	515		4,586
Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | Foreign Exchange Forward [Member]
Derivative [Line Items]
Derivative instruments (Note 10)	0		1,070
Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | Foreign Exchange Forward [Member] | Accrued Liabilities [Member]
Derivative [Line Items]
Derivative instruments (Note 10)	0		2,690
Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | Foreign Exchange Forward [Member] | Other Noncurrent Liabilities [Member]
Derivative [Line Items]
Derivative instruments (Note 10)	$ 0		$ 367

Derivative Instruments and He_4

Derivative Instruments and Hedging Activities (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 30, 2024	Apr. 01, 2023
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, Remaining Maturity	3 years
Revenue	$ 150,014	$ 160,292
Foreign Exchange Forward [Member] | Cash Flow Hedging [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in OCI on Derivative	3,213	(1,823)
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net	4,886	5,403
Other Nonoperating Income (Expense) [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net	$ 1,265	$ (811)

Stockholders Equity (Details)

Stockholders Equity (Details) - USD ($) $ in Thousands, shares in Millions	3 Months Ended
	Mar. 30, 2024	Apr. 01, 2023	Feb. 29, 2024	Feb. 27, 2024
ATM Equity Offering [Line Items]
Proceeds from issuance of common stock, net of issuance costs	$ 5,632	$ 0
ATM Equity Offering Sales Agreement ("ATM Agreement")
ATM Equity Offering [Line Items]
Common Stock, Shares, Sold	0.6
Proceeds from issuance of common stock, net of issuance costs	$ 5,600
Payments of Stock Issuance Costs	700
Common Stock, Remaining Amount Available For Further Sale	$ 93,700
BofA Securities, Inc. ("BofA") | ATM Equity Offering Sales Agreement ("ATM Agreement")
ATM Equity Offering [Line Items]
Commission percentage of aggregate gross sale proceeds				3%
BofA Securities, Inc. ("BofA") | ATM Equity Offering Sales Agreement ("ATM Agreement")
ATM Equity Offering [Line Items]
Common Stock, Value Of Shares, Maximum			$ 100,000

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) $ in Millions	3 Months Ended
	Mar. 30, 2024 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Payments for contractual obligations	$ 1.5
Excess Or Obsolete Costs From Commitments To Suppliers	$ 2.8

Commitments and Contingencies_2

Commitments and Contingencies - Activity Related to Warranty Accrual (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 30, 2024	Apr. 01, 2023
Movement in Standard Product Warranty Accrual [Roll Forward]
Balance at beginning of period	$ 24,625	$ 27,379
Provision	3,047	3,477
Warranty usage	(6,064)	(6,238)
Balance at end of period	$ 21,608	$ 24,618

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 30, 2024	Apr. 01, 2023
Income Tax Disclosure [Abstract]
Income tax expense (benefit)	$ 108	$ (1,262)
Effective Income Tax Rate Reconciliation, Percent	1.20%	1.50%

Industry Segment, Geographic _2

Industry Segment, Geographic Information and Significant Customers - Additional Information (Detail) - segment	3 Months Ended
	Mar. 30, 2024	Apr. 01, 2023
Revenues from External Customers and Long-Lived Assets [Line Items]
Number of Reportable Segments	1
Revenue Benchmark | Retail Customer | Customer Concentration Risk
Revenues from External Customers and Long-Lived Assets [Line Items]
Concentration Risk, Percentage	20.20%	12%