NETGEAR, INC., 10-Q filed on 5/1/2026
Quarterly Report
v3.26.1
Document And Entity Information - shares
 3 Months Ended
Mar. 29, 2026
Apr. 24, 2026
Cover [Abstract]    
Document Type 10-Q  
Amendment Flag false  
Document Period End Date Mar. 29, 2026  
Document Fiscal Year Focus 2026  
Document Fiscal Period Focus Q1  
Trading Symbol NTGR  
Entity Registrant Name NETGEAR, Inc.  
Entity Current Reporting Status Yes  
Entity Central Index Key 0001122904  
Current Fiscal Year End Date --12-31  
Entity Filer Category Large Accelerated Filer  
Smaller Reporting Company false  
Entity Shell Company false  
Entity Emerging Growth Company false  
Entity Tax Identification Number 77-0419172  
Entity File Number 000-50350  
Entity Incorporation, State or Country Code DE  
Entity Address, Address Line One 3553 North First Street  
Entity Address, City or Town San Jose  
Entity Address, State or Province CA  
Entity Address, Postal Zip Code 95134  
City Area Code (408)  
Local Phone Number 907-8000  
Security Exchange Name NASDAQ  
Title of 12(b) Security Common Stock, $0.001 par value  
Document Quarterly Report true  
Document Transition Report false  
Entity Interactive Data Current Yes  
Entity Common Stock, Shares Outstanding (In shares)   26,839,903
v3.26.1
Unaudited Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 29, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 183,476 $ 209,904
Short-term investments 113,033 113,132
Accounts receivable, net of allowance for doubtful accounts of $461 and $466 as of March 29, 2026 and December 31, 2025, respectively 142,155 142,045
Inventories 169,305 176,456
Prepaid expenses and other current assets 34,849 31,745
Total current assets 642,818 673,282
Property and equipment, net 26,182 26,001
Operating lease right-of-use assets 34,308 36,715
Intangible assets, net 37,061 38,480
Goodwill 45,022 45,022
Other non-current assets 16,540 16,771
Total assets 801,931 836,271
Current liabilities:    
Accounts payable 43,367 43,749
Accrued employee compensation 38,260 34,731
Other accrued liabilities 139,080 144,028
Deferred revenue 26,199 26,904
Income taxes payable 1,816 809
Total current liabilities 248,722 250,221
Non-current income taxes payable 6,702 7,176
Non-current operating lease liabilities 38,113 41,016
Other non-current liabilities 37,239 40,035
Total liabilities 330,776 338,448
Commitments and contingencies (Note 9)
Stockholders’ equity:    
Common stock 27 28
Additional paid-in capital 1,047,305 1,036,545
Accumulated other comprehensive income (loss) (28) 196
Accumulated deficit (576,149) (538,946)
Total stockholders’ equity 471,155 497,823
Total liabilities and stockholders’ equity $ 801,931 $ 836,271
v3.26.1
Unaudited Condensed Consolidated Balance Sheets (Parenthetical) - USD ($)
$ in Thousands
Mar. 29, 2026
Dec. 31, 2025
Statement of Financial Position [Abstract]    
Accounts receivable, net of allowance for doubtful accounts of $461 and $466 as of March 29, 2026 and December 31, 2025, respectively $ 461 $ 466
v3.26.1
Unaudited Condensed Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended
Mar. 29, 2026
Mar. 30, 2025
Income Statement [Abstract]    
Net revenue [1] $ 158,819 $ 162,060
Cost of revenue 94,517 105,734
Gross profit 64,302 56,326
Operating expenses:    
Research and development 21,665 18,309
Sales and marketing 31,670 28,041
General and administrative 19,183 18,070
Litigation reserves, net 500 (37)
Restructuring and other charges 4,876 4,742
Total operating expenses 77,894 69,125
Loss from operations (13,592) (12,799)
Other income, net [2] 1,581 8,171
Loss before income taxes (12,011) (4,628)
Provision for income taxes 1,029 1,406
Net loss $ (13,040) $ (6,034)
Net loss per share    
Basic $ (0.47) $ (0.21)
Diluted $ (0.47) $ (0.21)
Weighted average shares used to compute net loss per share:    
Basic 27,977 28,717
Diluted 27,977 28,717
[1] No individual foreign country represented more than 10% of the Company’s total net revenue in the periods presented.
[2] Amounts included interest income of $2.0 million and $3.3 million for the three months ended March 29, 2026 and March 30, 2025, respectively. Amounts also included gain/(loss), net from derivatives not designated as hedging instruments of $0.4 million and $(1.0) million for the three months ended March 29, 2026, and March 30, 2025, respectively. For the three months ended March 29, 2026, the amount also included $0.6 million of imputed interest expense related to an intangible asset acquisition. For the three months ended March 30, 2025, the amount also included proceeds of $4.7 million from a sale of patents and gain/(loss), net from foreign currency transactions of $1.4 million.
v3.26.1
Unaudited Condensed Consolidated Statements of Comprehensive Income (Loss) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 29, 2026
Mar. 30, 2025
Statement of Comprehensive Income [Abstract]    
Net income (loss) $ (13,040) $ (6,034)
Other comprehensive income (loss), before tax:    
Change in unrealized gains and losses on derivatives (35) (280)
Change in unrealized gains and losses on available-for-sale investments (195) (78)
Other comprehensive income (loss), before tax (230) (358)
Tax benefit related to derivatives 6 35
Other comprehensive loss, net of tax (224) (323)
Comprehensive loss $ (13,264) $ (6,357)
v3.26.1
Unaudited Condensed Consolidated Statements of Stockholders' Equity - USD ($)
$ in Thousands
Total
Common Stock
Additional Paid-In Capital
Accumulated Other Comprehensive Income (Loss)
Accumulated Deficit
Beginning balance at Dec. 31, 2024 $ 541,066 $ 29 $ 997,912 $ 241 $ (457,116)
Beginning balance (in shares) at Dec. 31, 2024   28,500,000      
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Change in unrealized gains and losses on available-for-sale investments, net of tax (78)     (78)  
Change in unrealized gains and losses on derivatives, net of tax (245)     (245)  
Net income (loss) (6,034)       (6,034)
Stock-based compensation 5,496   5,496    
Repurchase of common stock, including exercise tax $ (7,500)       (7,500)
Repurchase of common stock, including exercise tax (in shares) (300,000) (254,000)      
Restricted stock unit withholdings $ (5,141)       (5,141)
Restricted stock unit withholdings (in shares) (186,000) (186,000)      
Issuance of common stock under stock-based compensation plans $ 6,679   6,679    
Issuance of common stock under stock-based compensation plans (in shares)   722,000      
Ending balance at Mar. 30, 2025 534,243 $ 29 1,010,087 (82) (475,791)
Ending balance (in shares) at Mar. 30, 2025   28,782,000      
Beginning balance at Dec. 31, 2025 497,823 $ 28 1,036,545 196 (538,946)
Beginning balance (in shares) at Dec. 31, 2025   27,943,000      
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Change in unrealized gains and losses on available-for-sale investments, net of tax (195)     (195)  
Change in unrealized gains and losses on derivatives, net of tax (29)     (29)  
Net income (loss) (13,040)       (13,040)
Stock-based compensation 8,205   8,205    
Repurchase of common stock, including exercise tax $ (20,136) $ (1)     (20,135)
Repurchase of common stock, including exercise tax (in shares) (900,000) (929,000)      
Restricted stock unit withholdings $ (4,028)       (4,028)
Restricted stock unit withholdings (in shares) (193,000) (193,000)      
Issuance of common stock under stock-based compensation plans $ 2,555   2,555    
Issuance of common stock under stock-based compensation plans (in shares)   522,000      
Ending balance at Mar. 29, 2026 $ 471,155 $ 27 $ 1,047,305 $ (28) $ (576,149)
Ending balance (in shares) at Mar. 29, 2026   27,343,000      
v3.26.1
Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended
Mar. 29, 2026
Mar. 30, 2025
Cash flows from operating activities:    
Net Income (Loss) $ (13,040) $ (6,034)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization 3,624 1,684
Stock-based compensation 8,205 5,496
Accretion of discounts and imputed interests, net 644 (476)
Deferred income taxes (67) (136)
Provision for excess and obsolete inventory 1,900 1,435
Other (22) 9
Changes in assets and liabilities:    
Accounts receivable, net (110) 13,504
Inventories 5,251 3,206
Prepaid expenses and other assets (2,770) (615)
Accounts payable (207) (3,603)
Accrued employee compensation 3,530 (4,313)
Other accrued liabilities (4,940) (19,102)
Deferred revenue (886) (164)
Income taxes payable 532 365
Net cash provided by (used in) operating activities 1,644 (8,744)
Cash flows from investing activities:    
Purchases of short-term investments (30,152) (29,759)
Proceeds from maturities of short-term investments 30,000 30,000
Purchases of property and equipment (3,822) (1,396)
Purchases of long-term investments 0 (105)
Net cash used in investing activities (3,974) (1,260)
Cash flows from financing activities:    
Repurchases of common stock, including exercise tax (20,152) (8,162)
Restricted stock unit withholdings (4,028) (5,141)
Proceeds from exercise of stock options 0 4,590
Proceeds from issuance of common stock under employee stock purchase plan 2,555 2,089
Principal payments on deferred purchase price of intangible asset acquisition (2,475) 0
Net cash used in financing activities (24,100) (6,624)
Net decrease in cash and cash equivalents and restricted cash (26,430) (16,628)
Cash and cash equivalents and restricted cash, at beginning of period 212,006 288,551
Cash and cash equivalents and restricted cash, at end of period 185,576 271,923
Reconciliation of cash, cash equivalents, and restricted cash to the condensed consolidated balance sheets    
Cash and cash equivalents at end of period 183,476 269,811
Restricted cash included within other non-current assets at end of period 2,100 2,112
Total cash, cash equivalents, and restricted cash at end of period shown in the condensed consolidated statements of cash flows 185,576 271,923
Non-cash investing and financing activities:    
Unpaid property and equipment 687 1,364
Intangible assets acquired with deferred consideration $ 41,446 $ 0
v3.26.1
Pay vs Performance Disclosure - USD ($)
$ in Thousands
 3 Months Ended
Mar. 29, 2026
Mar. 30, 2025
Pay vs Performance Disclosure    
Net Income (Loss) $ (13,040) $ (6,034)
v3.26.1
Insider Trading Arrangements
 3 Months Ended
Mar. 29, 2026
shares
Trading Arrangements, by Individual  
Material Terms of Trading Arrangement

Insider Trading Arrangements

During the three months ended March 29, 2026, our Board of Directors and officers (as defined in Rule 16a-1(f)) under the Exchange Act adopted or terminated the contracts, instructions or written plans for the purchase or sale of the Company’s securities set forth in the table below.

 

 

 

Type of Trading Arrangement

 

 

 

Name and Title

Action

Adoption Date

Rule 10b5-1*

Non-Rule 10b5-1**

Total Shares of Common Stock to be Sold***

Total Shares of Common Stock to be Purchased

Expiration Date

Laura Durr, Director

Adopted

2/11/2026

Yes

 

 The lesser of a) a total of 3,000 shares (across both batches) or b) 100% of the net shares resulting from the vesting of 6,761 (gross) restricted stock units.

N/A

6/30/2026

 

 

 

 

 

 

 

 

* Contract, instruction or written plan intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) under the Exchange Act.

** “Non-Rule 10b5-1 trading arrangement” as defined in Item 408(c) of Regulation S-K under the Exchange Act.

*** Net shares issued with shares withheld to administratively facilitate the withholding and subsequent remittance of personal income and payroll taxes for the vesting of RSUs.
Laura Durr  
Trading Arrangements, by Individual  
Name Laura Durr
Title Director
Rule 10b5-1 Arrangement Adopted true
Non-Rule 10b5-1 Arrangement Adopted false
Adoption Date 2/11/2026
Expiration Date 6/30/2026
Arrangement Duration 140 days
Aggregate Available 3,000
Net Shares | Laura Durr  
Trading Arrangements, by Individual  
Aggregate Available 100
Gross Restricted Stock Units | Laura Durr  
Trading Arrangements, by Individual  
Aggregate Available 6,761
v3.26.1
The Company and Basis of Presentation
 3 Months Ended
Mar. 29, 2026
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
The Company and Basis of Presentation

Note 1. The Company and Basis of Presentation

NETGEAR, Inc. (“NETGEAR” or the “Company”) was incorporated in Delaware in January 1996. The Company is a global provider of networking technologies for businesses, homes, and service providers. The Company delivers a wide range of networking hardware, software, and services designed to enable reliable connectivity and security. Its connected solutions range from switching and wireless products that support audio and video (“AV”) over Ethernet for Pro AV applications and business networks to WiFi networking solutions, security and support services for enterprise and home networks. Additionally, the Company continually invests in research and development to create new technologies and services and to address technological trends such as AV over Ethernet, multi-Gigabit connectivity, WiFi 7, eSIM and future technologies. Its product line enables the creation and extension of wired and wireless networks and includes services that complement and enhance our hardware offerings. These products are available in multiple configurations to address the changing needs of our customers across geographic regions.

 

The Company sells networking products through multiple sales channels worldwide, including traditional retailers, online retailers, wholesale distributors, direct market resellers (“DMRs”), managed service providers (“MSPs”), broadband service providers and its direct online store at www.netgear.com.

The accompanying unaudited condensed consolidated financial statements include the accounts of NETGEAR, Inc. and its wholly owned subsidiaries. They have been prepared in accordance with established guidelines for interim financial reporting and the instructions of Form 10-Q and Article 10 of Regulation S-X. All intercompany balances and transactions have been eliminated in consolidation. The balance sheet dated December 31, 2025, has been derived from audited financial statements at such date. These unaudited condensed consolidated financial statements do not include all of the information and footnotes typically found in the audited consolidated financial statements and footnotes thereto included in the Annual Report on Form 10-K. In the opinion of management, the unaudited condensed consolidated financial statements reflect all normal recurring adjustments considered necessary to fairly state the Company's financial position, results of operations, comprehensive income (loss), stockholder's equity and cash flows for the periods indicated. These unaudited condensed consolidated financial statements should be read in conjunction with the notes to the audited consolidated financial statements included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2025 (the “Annual Report”).

The Company's fiscal year begins on January 1 of the year stated and ends on December 31 of the same year. The Company reports its results on a fiscal quarter basis rather than on a calendar quarter basis. Under the fiscal quarter basis, each of the first three fiscal quarters ends on the Sunday closest to the calendar quarter end, with the fourth quarter ending on December 31.

The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect (i) the reported amounts of assets and liabilities, (ii) the disclosure of contingent assets and liabilities at the date of the financial statements, and (iii) the reported amounts of net revenue and expenses during the reported period. The Company bases these estimates on historical and anticipated results, trends and various other assumptions that it believes are reasonable under the circumstances. As of the date of issuance of these condensed consolidated financial statements, the Company is not aware of any specific event or circumstance that would require it to update its estimates, judgments or revise the carrying value of its assets or liabilities. These estimates may change, as new events occur and additional information is obtained, and are recognized in the condensed consolidated financial statements as soon as they become known. Actual results could differ materially from those estimates and operating results for the three months ended March 29, 2026 are not necessarily indicative of the results that may be expected for the year ending December 31, 2026, or any future period.

Segments

The Company has two reportable segments: Enterprise and Consumer. During 2025, the Company realigned its reportable segments twice. Effective the first quarter of 2025, the Company separated the former Connected Home segment into Home Networking and Mobile, resulting in three reportable segments during the first three fiscal quarters of 2025: NETGEAR for Business, Home Networking, and Mobile. Beginning in the fourth quarter of 2025, the Company combined Home Networking and Mobile into a single Consumer segment and renamed NETGEAR for Business as Enterprise, resulting in the current two reportable segments. These realignments did not affect previously reported consolidated net revenue, income

(loss) from operations, net income (loss) per share, total assets, or stockholders' equity. Prior-period segment information has been recast to conform to the current presentation. Refer to Note 12, Segment Information for additional information.
v3.26.1
Summary of Significant Accounting Policies
 3 Months Ended
Mar. 29, 2026
Accounting Policies [Abstract]  
Summary of Significant Accounting Policies

Note 2. Summary of Significant Accounting Policies

No material changes have been made to the Company’s significant accounting policies disclosed in Note 1, The Company and Summary of Significant Accounting Policies, in Part II, Item 8 “Financial Statements and Supplementary Data” in its Annual Report.

Recent Accounting Pronouncements

Accounting Pronouncements Recently Adopted

 

In July 2025, the FASB issued ASU 2025-05, "Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses for Accounts Receivable and Contract Assets", which introduces a practical expedient permitting entities to assume that current economic conditions as of the balance sheet date do not change over the remaining life of current accounts receivable and contract assets arising from transactions within the scope of ASC 606, including assets acquired in a business combination. The Company adopted ASU 2025-05 effective January 1, 2026 on a prospective basis. The adoption of this standard did not have a material impact on the Company's financial position, results of operations, or cash flows.

Accounting Pronouncements Not Yet Effective

In November 2024, the FASB issued ASU 2024-03, “Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses”, which expands the disclosure requirements for specific costs and expenses. ASU 2024-03 is effective for the Company for the year ending December 31, 2027 and early adoption is permitted. Upon adoption, the guidance should be applied retrospectively to all prior periods presented in the financial statements. The Company does not expect that the guidance will have material impacts on its financial position, results of operations or cash flows. The Company is evaluating the impact that the updated standard will have on its financial statement disclosures.

In September 2025, the FASB issued ASU 2025-06, “Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software”, which eliminates project stages and requires capitalizing costs when management has committed to funding the project and it is probable of completion. ASU 2025-06 is effective for the Company for its fiscal year and all interim periods beginning January 1, 2028 on a prospective basis. Early adoption is permitted. The Company is evaluating the impact that the updated standard will have on its financial position, results of operations or cash flow.

In November 2025, the FASB issued ASU 2025-09, "Derivatives and Hedging (Topic 815): Hedge Accounting Improvements", which amends existing hedge accounting guidance to better align financial reporting with the economics of an entity’s risk management activities. ASU 2025-09 is effective for the Company for its fiscal year and all interim periods beginning January 1, 2027 on a prospective basis. Early adoption is permitted. The Company is evaluating the impact that the updated standard will have on its financial statement disclosures.

With the exception of the new standards discussed above, there have been no other new accounting pronouncements that have significance, or potential significance, to the Company’s financial position, results of operations and cash flows.
v3.26.1
Business Acquisition
 3 Months Ended
Mar. 29, 2026
Business Combinations [Abstract]  
Business Acquisition

Note 3. Business Acquisition

 

On June 16, 2025, the Company acquired Exium Inc. ("Exium"), a cybersecurity company focused on Secure Access Service Edge (SASE) platforms, for total purchase consideration of $12.6 million. The acquisition was accounted for using the acquisition method, with $8.7 million allocated to goodwill (within the Enterprise segment) and $4.3 million to intangible assets, of which $4.2 million related to developed technology.

v3.26.1
Revenue
 3 Months Ended
Mar. 29, 2026
Revenue from Contract with Customer [Abstract]  
Revenue

Note 4. Revenue

Revenue from contracts with customers is recognized when control of the promised goods or services is transferred to the customers, in an amount that reflects the consideration the Company expects to be entitled to in exchange for those goods or services.

Transaction Price Allocated to the Remaining Performance Obligations

Remaining performance obligations represent the transaction price allocated to performance obligations that are unsatisfied or partially unsatisfied as of the end of the reporting period. Unsatisfied and partially unsatisfied performance obligations consist of contract liabilities, in-transit orders with destination terms, and non-cancellable backlog. Non-cancellable backlog includes goods for which customer purchase orders have been accepted, that are scheduled or in the process of being scheduled for shipment, and that are not yet invoiced.

The following table summarizes estimated revenue expected to be recognized in the future related to performance obligations that were unsatisfied (or partially unsatisfied) as of March 29, 2026:

 

(In thousands)

 

 

Less than 1 year

 

 

 

1 to 2 years

 

 

 

Beyond 2 years

 

 

 

Total

 

Performance obligations

 

$

 

59,073

 

 

$

 

2,308

 

 

$

 

1,755

 

 

$

 

63,136

 

Contract Balances

The Company records accounts receivable when it has an unconditional right to consideration. Contract liabilities are recorded when cash payments are received or due in advance of performance. Contract liabilities consist of advance payments and deferred revenue, where the Company has unsatisfied performance obligations. Contract liabilities are classified as Deferred revenue (current portion) and Other non-current liabilities (non-current portion) on the unaudited condensed consolidated balance sheets.

Payment terms vary by customer. The time between invoicing and when payment is due is not significant. For certain products or services and customer types, payment is required before the products or services are delivered to the customer.

The following table reflects the contract balances:

 

(In thousands)

 

Balance Sheet Location

 

 

March 29, 2026

 

 

 

December 31, 2025

 

Accounts receivable, net

 

Accounts receivable, net

 

$

 

142,155

 

 

$

 

142,045

 

Contract liabilities – current

 

Deferred revenue

 

$

 

26,199

 

 

$

 

26,904

 

Contract liabilities – non-current

 

Other non-current liabilities

 

$

 

4,025

 

 

$

 

4,206

 

The difference in the balances of the Company’s contract assets and liabilities as of March 29, 2026 and December 31, 2025, primarily results from the timing difference between the Company's performance and the customer's payment. During the three months ended March 29, 2026, $11.3 million of revenue was deferred primarily due to unsatisfied performance obligations for service contracts, $12.2 million of revenue was recognized for the satisfaction of performance obligations and $10.6 million of this recognized revenue was included in the contract liability balance at the beginning of the period. During the three months ended March 30, 2025, $12.1 million of revenue was deferred primarily due to unsatisfied performance obligations for service contracts, $12.2 million of revenue was recognized for the satisfaction of performance obligations and $10.8 million of this recognized revenue was included in the contract liability balance at the beginning of the period.

There were no significant changes in estimates during the period that would affect the contract balances.

Disaggregation of Revenue

In the following tables, net revenue is disaggregated by geographic region and by product category, distinguishing the Company's service provider and related products from its other products. The Company conducts business across three geographic regions: Americas; Europe, Middle East and Africa (“EMEA”); and Asia Pacific (“APAC”). The tables also include reconciliations of the disaggregated revenue by reportable segment. As disclosed above, effective in the fourth quarter of 2025, the Company operates and reports in two segments: Enterprise (formerly NETGEAR for Business), and Consumer (comprising the former Home Networking and Mobile segments). Prior-period segment information has been recast to conform to the current presentation. Sales and usage-based taxes are excluded from net revenue.

 

 

 

Three Months Ended

 

 

 

 

March 29, 2026

 

 

 

March 30, 2025

 

(In thousands)

 

 

Enterprise

 

 

 

Consumer

 

 

 

Total

 

 

 

Enterprise

 

 

 

Consumer

 

 

 

Total

 

Geographic regions (1) :

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Americas

 

$

 

44,738

 

 

$

 

61,125

 

 

$

 

105,863

 

 

$

 

40,481

 

 

$

 

67,280

 

 

$

 

107,761

 

EMEA

 

 

 

25,113

 

 

 

 

8,362

 

 

 

 

33,475

 

 

 

 

24,339

 

 

 

 

7,790

 

 

 

 

32,129

 

APAC

 

 

 

13,951

 

 

 

 

5,530

 

 

 

 

19,481

 

 

 

 

14,371

 

 

 

 

7,799

 

 

 

 

22,170

 

Total

 

$

 

83,802

 

 

$

 

75,017

 

 

$

 

158,819

 

 

$

 

79,191

 

 

$

 

82,869

 

 

$

 

162,060

 

Product categories:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Service provider and related products (2)

 

$

 

191

 

 

$

 

20,232

 

 

$

 

20,423

 

 

$

 

270

 

 

$

 

29,707

 

 

$

 

29,977

 

Non-service provider

 

 

 

83,611

 

 

 

 

54,785

 

 

 

 

138,396

 

 

 

 

78,921

 

 

 

 

53,162

 

 

 

 

132,083

 

Total

 

$

 

83,802

 

 

$

 

75,017

 

 

$

 

158,819

 

 

$

 

79,191

 

 

$

 

82,869

 

 

$

 

162,060

 

_____________________________

(1) No individual foreign country represented more than 10% of the Company’s total net revenue in the periods presented.

(2) Service provider and related products net revenue in Consumer Segment included cable net revenue sold through retail. Prior-period amounts have been recast to conform to the current-period presentation.
v3.26.1
Balance Sheet Components
 3 Months Ended
Mar. 29, 2026
Balance Sheet Related Disclosures [Abstract]  
Balance Sheet Components

Note 5. Balance Sheet Components

Available-for-sale investments

Amortized cost and estimated fair market value of investments classified as available-for-sale, excluding cash equivalents, as of March 29, 2026 and December 31, 2025, were as follows:

 

 

 

March 29, 2026

 

(In thousands)

 

 

Amortized Cost

 

 

 

Unrealized
Gains

 

 

 

Unrealized
Losses

 

 

 

Estimated
Fair Value

 

U.S. treasury securities

 

$

 

110,200

 

 

$

 

-

 

 

$

 

(33

)

 

$

 

110,167

 

Total

 

$

 

110,200

 

 

$

 

-

 

 

$

 

(33

)

 

$

 

110,167

 

 

 

 

 

December 31, 2025

 

(In thousands)

 

 

Amortized Cost

 

 

 

Unrealized
Gains

 

 

 

Unrealized
Losses

 

 

 

Estimated
Fair Value

 

U.S. treasury securities

 

$

 

110,048

 

 

$

 

162

 

 

$

 

—

 

 

$

 

110,210

 

Total

 

$

 

110,048

 

 

$

 

162

 

 

$

 

—

 

 

$

 

110,210

 

The contractual maturities on the U.S. treasury securities as of March 29, 2026 are all due within one year. Accrued interest receivable as of March 29, 2026 was $1.4 million and was recorded within Prepaid expenses and other current assets on the unaudited condensed consolidated balance sheet.

There were no investments classified as available-for-sale in a continuous unrealized loss position for which an allowance for credit losses was not recorded as of March 29, 2026 and December 31, 2025.

In the three months ended March 29, 2026 and March 30, 2025, no unrealized losses on available-for-sale securities were recognized in income. The Company does not intend to sell, and it is unlikely that it will be required to sell the investments in

an unrealized loss position prior to their anticipated recovery. There were no other-than-temporary impairments for these securities during the three months ended March 29, 2026 and March 30, 2025. Refer to Note 13, Fair Value Measurements, for detailed disclosures regarding fair value measurements.

Inventories

 

(In thousands)

 

 

March 29, 2026

 

 

 

December 31, 2025

 

Raw materials

 

$

 

7,770

 

 

$

 

8,828

 

Finished goods

 

 

 

161,535

 

 

 

 

167,628

 

Total

 

$

 

169,305

 

 

$

 

176,456

 

The Company records provisions for excess and obsolete inventory based on assumptions about future demand and market conditions and the amounts incurred were $1.9 million and $1.4 million for the three months ended March 29, 2026 and March 30, 2025, respectively. While management believes the estimates and assumptions underlying its current forecasts are reasonable, there is a risk that additional charges may be necessary if current forecasts are greater than actual demand.

 

Property and equipment, net

 

(In thousands)

 

 

March 29, 2026

 

 

 

December 31, 2025

 

Machinery and equipment

 

$

 

55,233

 

 

$

 

54,007

 

Furniture and fixtures

 

 

 

3,525

 

 

 

 

3,482

 

Leasehold improvements

 

 

 

21,842

 

 

 

 

21,475

 

Software

 

 

 

21,828

 

 

 

 

21,642

 

Computer equipment

 

 

 

3,640

 

 

 

 

3,370

 

Total property and equipment, gross

 

 

 

106,068

 

 

 

 

103,976

 

Accumulated depreciation

 

 

 

(79,886

)

 

 

 

(77,975

)

Total

 

$

 

26,182

 

 

$

 

26,001

 

 

Intangible Assets, net

 

 

March 29, 2026

 

 

 

December 31, 2025

 

(In thousands)

 

Gross

 

 

 

Accumulated
Amortization

 

 

 

Accumulated Impairment

 

 

 

Net

 

 

 

Gross

 

 

 

Accumulated
Amortization

 

 

 

Accumulated Impairment

 

 

 

Net

 

Technology

$

 

39,594

 

 

$

 

(2,581

)

 

$

 

—

 

 

$

 

37,013

 

 

$

 

39,594

 

 

$

 

(1,166

)

 

$

 

—

 

 

$

 

38,428

 

Other

 

 

60

 

 

 

 

(12

)

 

 

 

—

 

 

 

 

48

 

 

 

 

60

 

 

 

 

(8

)

 

 

 

—

 

 

 

 

52

 

Total

$

 

39,654

 

 

$

 

(2,593

)

 

$

 

—

 

 

$

 

37,061

 

 

$

 

39,654

 

 

$

 

(1,174

)

 

$

 

—

 

 

$

 

38,480

 

 

In the fourth fiscal quarter of 2025, the Company acquired a perpetual software license related to its managed switch products, which is included within Technology intangible assets. The license is accounted for as a finite-lived intangible asset and is amortized on a straight-line basis over its estimated useful life of seven years. The gross carrying amount of the software license intangible asset of $35.4 million includes the present value of fixed deferred payments, the present value of contingent consideration when probable and reasonably estimable, and amount recognized upon the extinguishments of an accrued liability. Increases in intangible assets not related to the aforementioned software license pertain to the Exium business acquisition. Refer to Note 3, Business Acquisition, for additional details.

Amortization of the intangible assets for the three months ended March 29, 2026 and March 30, 2025 was $1.4 million and zero, respectively. The weighted remaining useful life for the intangible assets was approximately 6.6 years as of March

29, 2026.

Other non-current assets

 

(In thousands)

 

 

March 29, 2026

 

 

 

December 31, 2025

 

Non-current deferred income taxes

 

$

 

2,459

 

 

$

 

2,386

 

Long-term investments

 

 

 

8,754

 

 

 

 

8,732

 

Restricted cash

 

 

 

2,100

 

 

 

 

2,102

 

Other

 

 

 

3,227

 

 

 

 

3,551

 

Total

 

$

 

16,540

 

 

$

 

16,771

 

 

Long-term investments

The Company’s long-term investments are primarily comprised of equity investments without readily determinable fair values and investments in limited partnership funds. The carrying value of the equity investments without readily determinable fair values was $6.1 million as of March 29, 2026 and March 30, 2025, respectively. For such equity investments without readily determinable fair value still held at March 29, 2026, there were no cumulative downward adjustments for price changes or impairment, and the cumulative upward adjustments for price changes was $0.3 million. Investments in limited partnership funds amounted to $2.7 million as of March 29, 2026, $2.4 million as of March 30, 2025, and $2.6 million and $2.3 million as of December 31, 2025 and December 31, 2024, respectively.

Other current accrued liabilities

 

(In thousands)

 

 

March 29, 2026

 

 

 

December 31, 2025

 

Current operating lease liabilities

 

$

 

9,977

 

 

$

 

9,933

 

Sales and marketing

 

 

 

58,778

 

 

 

 

61,144

 

Warranty obligations

 

 

 

5,797

 

 

 

 

5,928

 

Sales returns(1)

 

 

 

21,375

 

 

 

 

24,435

 

Freight and duty

 

 

 

3,940

 

 

 

 

4,518

 

Current deferred consideration(2)

 

 

 

9,014

 

 

 

 

8,355

 

Other

 

 

 

30,199

 

 

 

 

29,715

 

Total

 

$

 

139,080

 

 

$

 

144,028

 

 

(1)
Inventory expected to be received from future sales returns amounted to $9.3 million and $10.8 million as of March 29, 2026 and December 31, 2025, respectively. Provisions to write down expected returned inventory to net realizable value amounted to $7.1 million and $7.9 million as of March 29, 2026 and December 31, 2025, respectively.
(2)
The balance represented current deferred consideration related to the acquisition of a perpetual software license. Refer to “Intangible Assets, net” above for additional information.

Other non-current accrued liabilities

(In thousands)

 

 

March 29, 2026

 

 

 

December 31, 2025

 

Non-current deferred consideration(1)

 

$

 

32,431

 

 

$

 

34,921

 

Non-current deferred revenue

 

 

 

4,025

 

 

 

 

4,206

 

Other

 

 

 

783

 

 

 

 

908

 

Total

 

$

 

37,239

 

 

$

 

40,035

 

 

(1)
The balance represented non-current deferred consideration related to the acquisition of a perpetual software license. Refer to “Intangible Assets, net” above for additional information.
v3.26.1
Derivative Financial Instruments
 3 Months Ended
Mar. 29, 2026
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivative Financial Instruments

Note 6. Derivative Financial Instruments

The Company’s subsidiaries have material future cash flows related to revenue and expenses denominated in currencies other than the U.S. dollar, the Company’s functional currency worldwide. The Company executes currency forward contracts that typically mature in less than six months to mitigate its currency risk, in currencies including Australian dollars, British

pounds, euros, Canadian dollars, and Japanese yen. The Company does not enter into derivatives transactions for trading or speculative purposes. The Company’s foreign currency forward contracts do not contain any credit-risk-related contingent features. The Company enters into derivative contracts with high-quality financial institutions and limits the amount of credit exposure to any individual counterparty.

The Company typically executes ten cash flow hedges per quarter with maturities under six months and with an average USD notional amount of approximately $4.4 million that are designated as cash flow hedges.

The Company enters into non-designated hedges that are generally expected to offset the changes in value of its net non-functional currency asset and liability position resulting from foreign exchange rate fluctuations. The Company adjusts its non-designated hedges monthly and typically executes about twelve non-designated forwards per quarter with maturities less than three months and an average USD notional amount of approximately $2.9 million.

Fair Value of Derivative Instruments

The fair values of the Company’s derivative instruments and the line items on the unaudited condensed consolidated balance sheets to which they were recorded were summarized as follows:

 

 

 

Balance Sheet

 

 

 

 

 

 

 

 

 

Balance Sheet

 

 

 

 

 

 

 

 

(In thousands)

 

Location

 

 

March 29,
2026

 

 

 

December 31,
2025

 

 

Location

 

 

March 29,
2026

 

 

 

December 31,
2025

 

Derivatives not designated as hedging instruments

 

Prepaid expenses and other current assets

 

$

 

366

 

 

$

 

315

 

 

Other accrued liabilities

 

$

 

81

 

 

$

 

699

 

Derivatives designated as hedging instruments

 

Prepaid expenses and other current assets

 

 

 

15

 

 

 

 

—

 

 

Other accrued liabilities

 

 

 

1

 

 

 

 

30

 

Total

 

 

 

$

 

381

 

 

$

 

315

 

 

 

 

$

 

82

 

 

$

 

729

 

Refer to Note 13, Fair Value Measurements for detailed disclosures regarding fair value measurements. Refer to Note 10, Stockholders’ Equity, for details on the accumulated other comprehensive income (loss) activity related to derivatives and refer to Note 12, Segment Information, for details on gain/(loss), net pertaining to derivatives not designated as hedging instruments that were recognized in Other income (expenses), net.

v3.26.1
Net Income (Loss) Per Share
 3 Months Ended
Mar. 29, 2026
Earnings Per Share [Abstract]  
Net Income (Loss) Per Share

Note 7. Net Income (Loss) Per Share

Basic net income (loss) per share is computed by dividing the net income (loss) for the period by the weighted average number of common shares outstanding during the period. Diluted net income (loss) per share is computed by dividing the net income (loss) for the period by the weighted average number of shares of common stock and potentially dilutive common stock outstanding during the period. Potentially dilutive common shares include common shares issuable upon exercise of stock options, vesting of Restricted Stock Units (“RSUs”) and performance shares, and issuances of shares under the Employee Stock Purchase Plan (the “ESPP”), which are reflected in diluted net income (loss) per share by application of the treasury stock method. Potentially dilutive common shares are excluded from the computation of diluted net income (loss) per share when their effect is anti-dilutive.

Net income (loss) per share consisted of the following:

 

 

 

 

Three Months Ended

 

(In thousands, except per share data)

 

 

March 29, 2026

 

 

 

March 30, 2025

 

Numerator:

 

 

 

 

 

 

 

 

Net loss

 

$

 

(13,040

)

 

$

 

(6,034

)

 

 

 

 

 

 

 

 

Denominator:

 

 

 

 

 

 

 

 

Weighted average common shares – basic

 

 

 

27,977

 

 

 

 

28,717

 

Potentially dilutive common share equivalent

 

 

 

—

 

 

 

 

—

 

Weighted average common shares – dilutive

 

 

 

27,977

 

 

 

 

28,717

 

 

 

 

 

 

 

 

 

Basic net loss per share

 

$

 

(0.47

)

 

$

 

(0.21

)

Diluted net loss per share

 

$

 

(0.47

)

 

$

 

(0.21

)

 

 

 

 

 

 

 

 

Anti-dilutive employee stock-based awards, excluded

 

 

 

905

 

 

 

 

258

 
v3.26.1
Income Taxes
 3 Months Ended
Mar. 29, 2026
Income Tax Disclosure [Abstract]  
Income Taxes

Note 8. Income Taxes

The income tax provision for the three months ended March 29, 2026 and March 30, 2025, was $1.0 million, or an effective tax rate of (8.6)%, and $1.4 million, or an effective tax rate of (30.4)%, respectively. The year-over-year change was primarily driven by increased losses in the United States and lower income in foreign jurisdictions during the first quarter of 2026 relative to the prior-year period.

The Company is under examination in various U.S. and foreign jurisdictions. Due to the uncertain nature of ongoing tax audits, the Company has recorded its liability for uncertain tax positions as a long-term liability, as payments cannot be anticipated over the next twelve months. The possible reduction in liabilities for uncertain tax positions in multiple jurisdictions in the next twelve months is approximately $1.4 million excluding the interest, penalties and the effect of any related deferred tax assets or liabilities.

The Company maintains a full valuation allowance on its U.S. federal and state net deferred tax assets, initially established in the fourth quarter of fiscal 2023. Based on an evaluation of current results as of March 29, 2026 and expectations for the remainder of the year, the Company determined that it continues to not be more likely than not that these deferred tax assets would be realized. Accordingly, no benefit has been recorded for the forecasted U.S. tax loss for the three months ended March 29, 2026. The Company will continue to assess the realizability of its deferred tax assets each reporting period and will adjust the valuation allowance as warranted.
v3.26.1
Commitments and Contingencies
 3 Months Ended
Mar. 29, 2026
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies

Note 9. Commitments and Contingencies

Purchase Obligations

The Company has entered into various inventory-related purchase agreements with suppliers. Generally, under these agreements, 50% of orders are cancelable by giving notice 46 to 60 days prior to the expected shipment date and 25% of orders are cancelable by giving notice 31 to 45 days prior to the expected shipment date. The Company is exposed to lengthening lead times and increasing costs on various components, certain of which are non-cancelable regardless of lead time, and as a result the Company has issued purchase orders to supply chain partners beyond contractual termination periods. As of March 29, 2026, the Company had approximately $62.9 million, as compared to $55.3 million as of December 31, 2025, in short-term non-cancelable purchase commitments with suppliers or where the suppliers had procured unique materials and components upon receipts of the Company’s purchase orders. As of March 29, 2026, $224.7 million of purchase orders beyond contractual termination periods remained outstanding. Consequently, the Company may incur expenses for materials and components, such as chipsets purchased by the supplier to fulfill the purchase order if the purchase order is cancelled. Expenses incurred in respect of cancelled purchase orders have historically not been significant relative to the original order value. For those orders not governed by master purchase agreements, the commitments are governed by the commercial terms on the Company’s purchase

orders subject to acknowledgment from its suppliers. The Company establishes a loss liability for all products it does not expect to sell or orders it anticipates canceling for which it has committed purchases from suppliers. Such loss liability, which was not material as of March 29, 2026 and December 31, 2025, is included in Other accrued liabilities on the Company’s unaudited condensed consolidated balance sheets. Losses incurred in relation to purchase commitments, including unique materials and components, were not material for the three months ended March 29, 2026 or March 30, 2025.

Non-Trade Commitments

As of March 29, 2026, the Company had non-cancellable purchase commitments of $9.4 million pertaining to non-trade activities.

Warranty Obligations

Changes in the Company’s warranty obligations, which is included in Other accrued liabilities on the unaudited condensed consolidated balance sheets, were as follows:

 

 

 

 

Three Months Ended

 

(In thousands)

 

 

March 29, 2026

 

 

 

March 30, 2025

 

Balance as of beginning of the period

 

$

 

5,928

 

 

$

 

5,192

 

Provision for warranty liability made

 

 

 

1,170

 

 

 

 

1,254

 

Settlements made

 

 

 

(1,301

)

 

 

 

(1,139

)

Balance as of the end of the period

 

$

 

5,797

 

 

$

 

5,307

 

Litigation and Other Legal Matters

From time to time, the Company is involved in disputes, litigation, and other legal actions. In all cases, at each reporting period, the Company evaluates whether or not a potential loss amount or a potential range of loss is probable and reasonably estimable under the provisions of the authoritative guidance that addresses accounting for contingencies. In such cases, the Company accrues for the amount, or if a range, the Company accrues the low end of the range, only if there is not a better estimate than any other amount within the range, as a component of legal expense within litigation reserves, net. The Company monitors developments in these legal matters that could affect the estimate the Company had previously accrued. In relation to such matters, the Company currently believes that there are no existing claims or proceedings that are likely to have a material adverse effect on its financial position within the next twelve months, or the outcome of these matters is currently not determinable. There are many uncertainties associated with any litigation, and these actions or other third-party claims against the Company may cause the Company to incur costly litigation and/or substantial settlement charges. In addition, the resolution of any intellectual property litigation may require the Company to make royalty payments, which could have an adverse effect in future periods. If any of those events were to occur, the Company’s business, financial condition, results of operations, and cash flows could be adversely affected. The actual liability in any such matters may be materially different from the Company’s estimates, which could result in the need to adjust the liability and record additional expenses.

The Company does not believe that it will incur a material loss for any of its pending litigation matters at this time, and consequently has not established any material loss provisions.
v3.26.1
Stockholders' Equity
 3 Months Ended
Mar. 29, 2026
Stockholders' Equity Note [Abstract]  
Stockholders' Equity

Note 10. Stockholders’ Equity

Stock Repurchases

From time to time, the Company’s Board of Directors has authorized programs under which the Company may repurchase shares of its common stock, depending on market conditions, in the open market or through privately negotiated transactions. Under the authorizations, the timing and actual number of shares subject to repurchase are at the discretion of management and are contingent on a number of factors, such as levels of cash generation from operations, cash requirements for acquisitions and the price of the Company’s common stock. During the three months ended March 29, 2026 and March 30, 2025, the Company repurchased, retired and reported, based on trade date, approximately 0.9 million and 0.3 million shares of common stock, at a cost of approximately $20.0 million and $7.5 million, respectively. As of March 29, 2026, approximately 559,000 shares remained authorized for repurchase under the repurchase program. On April 22, 2026, the Company's Board of Directors authorized an incremental $75.0 million for repurchases of the Company's common stock under the existing repurchase program.

The Company’s policy related to repurchases of its common stock is to charge the excess of cost over par value to retained earnings. All repurchases were made in compliance with Rule 10b-18 under the Securities Exchange Act of 1934, as amended.

 

Restricted Stock Unit Withholdings

The Company withholds shares of its common stock to facilitate the administrative process of withholding and remitting personal income and payroll taxes for individuals receiving RSUs. The Company withheld and reported, based on trade date, approximately 193,000 shares and 186,000 shares of common stock, at a cost of approximately $4.0 million and $5.1 million, during the three months ended March 29, 2026 and March 30, 2025, respectively.

Accumulated Other Comprehensive Income (Loss)

The following tables set forth the changes in accumulated other comprehensive income (loss) (“AOCI”) by component:

 

(In thousands)

 

 

Unrealized gains (losses)
on available
-for-sale
investments

 

 

 

Unrealized
gains (losses)
on derivatives

 

 

 

Estimated tax benefit (provision)

 

 

 

Total

 

 

 

 

(In thousands)

 

Balance as of December 31, 2025

 

 

$

160

 

 

 

$

39

 

 

 

$

(3

)

 

 

$

196

 

Other comprehensive income (loss) before reclassifications

 

 

 

(195

)

 

 

 

(115

)

 

 

 

23

 

 

 

 

(287

)

Less: Amount reclassified from accumulated other comprehensive income (loss)

 

 

 

—

 

 

 

 

(80

)

 

 

 

17

 

 

 

 

(63

)

Net current period other comprehensive income (loss)

 

 

 

(195

)

 

 

 

(35

)

 

 

 

6

 

 

 

 

(224

)

Balance as of March 29, 2026

 

 

$

(35

)

 

 

$

4

 

 

 

$

3

 

 

 

$

(28

)

 

(In thousands)

 

 

Unrealized gains (losses)
on available
-for-sale
investments

 

 

 

Unrealized
gains (losses)
on derivatives

 

 

 

Estimated tax
benefit (provision)

 

 

 

Total

 

Balance as of December 31, 2024

 

 

$

169

 

 

 

$

79

 

 

 

$

(7

)

 

 

$

241

 

Other comprehensive income (loss) before reclassifications

 

 

 

(78

)

 

 

 

(662

)

 

 

 

115

 

 

 

 

(625

)

Less: Amount reclassified from accumulated other comprehensive income (loss)

 

 

 

—

 

 

 

 

(382

)

 

 

 

80

 

 

 

 

(302

)

Net current period other comprehensive income (loss)

 

 

 

(78

)

 

 

 

(280

)

 

 

 

35

 

 

 

 

(323

)

Balance as of March 30, 2025

 

 

$

91

 

 

 

$

(201

)

 

 

$

28

 

 

 

$

(82

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

The following table provides details about significant amounts reclassified out of each component of AOCI:

 

 

 

 

Three Months Ended

 

(In thousands)

 

 

March 29, 2026

 

 

 

March 30, 2025

 

Amount Reclassified from AOCI

 

 

 

 

 

 

 

 

Gains (losses) on cash flow hedge:

 

Foreign currency forward contracts

 

 

 

 

 

 

 

 

Affected line item in the statement of operations

 

 

 

 

 

 

 

 

Net revenue

 

$

 

(130

)

 

$

 

(522

)

Cost of revenue

 

 

 

1

 

 

 

 

—

 

Research and development

 

 

 

14

 

 

 

 

32

 

Sales and marketing

 

 

 

24

 

 

 

 

79

 

General and administrative

 

 

 

11

 

 

 

 

29

 

Total before tax

 

 

 

(80

)

 

 

 

(382

)

Tax impact

 

 

 

17

 

 

 

 

80

 

Total, net of tax

 

$

 

(63

)

 

$

 

(302

)
v3.26.1
Employee Benefit Plans
 3 Months Ended
Mar. 29, 2026
Employee Benefit and Share-Based Payment Arrangement, Noncash Expense [Abstract]  
Employee Benefit Plans

Note 11. Employee Benefit Plans

2025 Equity Incentive Plan

The 2025 Equity Incentive Plan (the "2025 Plan"), adopted by the Board of Directors in April 2025 and approved by stockholders on May 29, 2025, provides for the grant of stock options, restricted stock, RSUs, stock appreciation rights, performance units and performance shares to eligible directors, employees and consultants. The maximum aggregate number of shares issuable under the 2025 Plan is 750,000, plus shares that remained available under the 2016 Plan at the 2025 Plan's effective date and shares subject to 2016 Plan awards that subsequently expire, are forfeited, or are repurchased by the Company. As of March 29, 2026, approximately 2.4 million shares were reserved and available for future grants under the 2025 Plan.

Time-based RSUs granted generally vest over three years with the first tranche at the end of twelve months from the vest start date and the remaining vesting quarterly over the remaining two years. RSUs do not have an expiration date. Performance-based RSUs granted generally vest at the end of a three-year period if performance conditions are met.

Any shares that are tendered by a participant or retained by the Company as full or partial payment for the purchase of an award or to satisfy tax withholding obligations in connection with an award granted under the 2025 Plan, or under the 2016 Plan after the 2025 Plan became effective, shall again be made available for issuance under the 2025 Plan.

2016 Equity Incentive Plan

 

Upon effectiveness of the 2025 Plan in May 2025, the 2016 Equity Incentive Plan (the “2016 Plan”) was superseded with respect to new equity award grants. Outstanding awards under the 2016 Plan remain outstanding and continue to be governed by its terms.

2024 Inducement Plan

In February 2024, the Company’s Board of Directors approved 2024 Inducement Equity Incentive Plan (the “2024 Inducement Plan”), under which options, restricted stock awards, RSUs, stock appreciation rights, performance units, performance shares, and other stock or cash awards can be granted to personnel for positions of substantial responsibility. As of March 29, 2026, approximately 0.2 million shares were reserved for future grants under the 2024 Inducement Plan.

Employee Stock Purchase Plan

The Company sponsors an Employee Stock Purchase Plan (the “ESPP”). The terms of the plan include a look-back feature that enables employees to purchase stock semi-annually at a price equal to 85% of the lesser of the fair market value at the beginning of the offering period or the purchase date. The duration of each offering period is generally six months. As of March 29, 2026, approximately 1.6 million shares were available for issuance under the ESPP.

Option Activity

Stock option activity was as follows:

 

(In thousands, except per share amounts)

 

Number of
Shares

 

 

 

Weighted Average Exercise Price Per Share

 

 

Weighted
Average
Remaining
Contractual
Term

 

Outstanding as of December 31, 2025

 

 

101

 

 

$

 

33.24

 

 

 

 

Exercised

 

 

—

 

 

$

 

—

 

 

 

 

Expired

 

 

—

 

 

$

 

—

 

 

 

 

Outstanding as of March 29, 2026

 

 

101

 

 

$

 

33.24

 

 

 

2.70

 

Time-Based RSU Activity

Time-based RSU activity was as follows:

 

(In thousands, except per share amounts)

 

Number
of Shares

 

 

 

Weighted Average Grant Date Fair Value Per Share

 

Outstanding as of December 31, 2025

 

 

2,294

 

 

$

 

22.27

 

Granted

 

 

57

 

 

$

 

21.76

 

Vested

 

 

(227

)

 

$

 

16.47

 

Cancelled

 

 

(43

)

 

$

 

22.00

 

Outstanding as of March 29, 2026

 

 

2,081

 

 

$

 

22.90

 

Performance-Based RSU Activity

The Company granted performance-based restricted stock units (“PSUs”) under the 2016 Plan, 2024 Inducement Plan and 2025 Plan to its newly-hired employees or executives with vesting generally occurring at the end of a three-year period if performance conditions are met. The number of PSUs earned and eligible to vest are determined based on achievement of the pre-determined performance or market conditions and the recipients’ continued service with the Company. The number of PSUs to vest could range from 0% to up to 200% of the target shares granted. For PSUs with a performance condition, at the end of each reporting period, the Company evaluates the probability of achieving the performance conditions and records the related stock-based compensation expense based on performance to date over the service period. The stock-based compensation expense relating to PSUs with a market condition is recognized ratably from the service inception date to the vesting date.

PSU activity was as follows:

(In thousands, except per share amounts)

 

Number
of Shares

 

 

 

Weighted Average Grant Date Fair Value Per Share

 

Outstanding as of December 31, 2025

 

 

805

 

 

$

 

33.64

 

Granted

 

 

6

 

 

$

 

20.71

 

Vested

 

 

(157

)

 

$

 

20.71

 

Cancelled

 

 

—

 

 

$

 

—

 

Outstanding as of March 29, 2026

 

 

654

 

 

$

 

36.65

 

 

Valuation and Expense Information

The following table sets forth the stock-based compensation expense resulting from stock options, RSUs (time-based and performance-based) and the ESPP included in the Company’s unaudited condensed consolidated statements of operations:

 

 

 

 

Three Months Ended

 

(In thousands)

 

 

March 29, 2026

 

 

 

March 30, 2025

 

Cost of revenue

 

$

 

501

 

 

$

 

422

 

Research and development

 

 

 

1,103

 

 

 

 

592

 

Sales and marketing

 

 

 

2,265

 

 

 

 

1,313

 

General and administrative

 

 

 

4,336

 

 

 

 

3,169

 

Total

 

$

 

8,205

 

 

$

 

5,496

 

As of March 29, 2026, $50.5 million of unrecognized compensation cost related to unvested RSUs (time-based and performance-based) expected to be recognized over a weighted-average period of 1.7 years.
v3.26.1
Segment Information
 3 Months Ended
Mar. 29, 2026
Segment Reporting [Abstract]  
Segment Information

Note 12. Segment Information

Operating segments are components of an enterprise about which separate financial information is available and is evaluated quarterly by management, namely the Chief Operating Decision Maker (“CODM”) of an organization, in order to determine operating and resource allocation decisions. By this definition, the Company has identified its CEO as the CODM. The Company operates and reports in two segments: Enterprise and Consumer. As previously disclosed, during 2025, the Company realigned its reportable segments twice. Effective the first quarter of 2025, the Company separated the former Connected Home segment into Home Networking and Mobile, resulting in three reportable segments during the first three fiscal quarters of 2025: NETGEAR for Business, Home Networking, and Mobile. Beginning in the fourth quarter of 2025, the Company combined Home Networking and Mobile into a single Consumer segment and renamed NETGEAR for Business as Enterprise, resulting in the current two reportable segments. The prior-year segment financial information has been recast to conform to the current-year presentation.

 

•
Enterprise: focuses on small and medium enterprises and provides solutions for audio and video over Ethernet for AV applications, enterprise networking solutions, including wireless local area network (“LAN”) and cloud-managed networking capabilities, software platforms for deployment and remote management, and security offerings, including firewall and SASE functionality, designed to address the networking, security, and manageability requirements of organizations seeking reliable and cost-effective connectivity solutions; and
•
Consumer: focuses on consumers and provides high-performance, dependable and easy-to-use WiFi internet networking solutions such as multi-band WiFi 7 mesh systems and routers, subscription services offering performance, security, privacy and support, and 4G/5G mobile products, including WiFi 7 and WiFi 6/6E-enabled portable mobile hotspots and mobile routers, designed to address the demand for reliable, high-speed connectivity at home and on the go.

 

The Company believes that this structure reflects its current operational and financial management, with Enterprise and Consumer operating as distinct business units with integrated product development and go-to-market capabilities. The leadership teams of each segment are responsible for sales, marketing, product management, engineering, and customer support activities tailored to their respective markets.

The results of the reportable segments are derived directly from the Company’s management reporting system. The results are based on the Company’s method of internal reporting and are not necessarily in conformity with accounting principles generally accepted in the United States. Management measures the performance of each segment based on several metrics, including segment gross profit and segment contribution income (loss). Segment gross profit consists of segment net revenue less the related segment cost of revenue, where segment cost of revenue excludes stock-based compensation expense and amortization of intangible assets, each of which is managed at the corporate level and reported within unallocated indirect costs below. Segment contribution income (loss) consists of segment net revenue less the related segment cost of revenue, research and development and sales and marketing costs, in each case excluding the corporate-level items described below. Segment contribution income (loss) is used, in part, to evaluate the performance of, and allocate resources to, each of the segments. Certain operating expenses are not allocated to segments because they are separately managed at the corporate level.

These unallocated indirect costs include corporate costs, such as corporate research and development, corporate marketing and general and administrative expenses, amortization of intangible assets, stock-based compensation expense, acquisition related expenses, restructuring and other charges, litigation reserves, net, and other income (expenses), net.

Financial information for each reportable segment and a reconciliation of segment contribution income to income (loss) before income taxes is as follows:

 

 

 

 

Three Months Ended

 

 

 

 

March 29, 2026

 

 

 

March 30, 2025

 

(In thousands, except percentage data)

 

 

Enterprise

 

 

 

Consumer

 

 

 

Total

 

 

 

Enterprise

 

 

 

Consumer

 

 

 

Total

 

Net revenue

 

$

 

83,802

 

 

$

 

75,017

 

 

$

 

158,819

 

 

$

 

79,191

 

 

$

 

82,869

 

 

$

 

162,060

 

Segment cost of revenue

 

 

 

39,658

 

 

 

 

52,940

 

 

 

 

92,598

 

 

 

 

42,530

 

 

 

 

62,782

 

 

 

 

105,312

 

Segment Gross profit

 

 

 

44,144

 

 

 

 

22,077

 

 

 

 

66,221

 

 

 

 

36,661

 

 

 

 

20,087

 

 

 

 

56,748

 

Segment Gross margin

 

 

 

52.7

%

 

 

 

29.4

%

 

 

 

 

 

 

 

46.3

%

 

 

 

24.2

%

 

 

 

 

Segment operating expenses

 

 

 

24,087

 

 

 

 

22,203

 

 

 

 

46,290

 

 

 

 

19,026

 

 

 

 

21,552

 

 

 

 

40,578

 

Contribution income (loss)

 

 

 

20,057

 

 

 

 

(126

)

 

 

 

19,931

 

 

 

 

17,635

 

 

 

 

(1,465

)

 

 

 

16,170

 

Contribution margin

 

 

 

23.9

%

 

 

 

(0.2

)%

 

 

 

 

 

 

 

22.3

%

 

 

 

(1.8

)%

 

 

 

 

Corporate and unallocated costs

 

 

 

 

 

 

 

 

 

 

 

(18,279

)

 

 

 

 

 

 

 

 

 

 

 

(18,768

)

Amortization of intangible assets

 

 

 

 

 

 

 

 

 

 

 

(1,419

)

 

 

 

 

 

 

 

 

 

 

 

—

 

Stock-based compensation expense

 

 

 

 

 

 

 

 

 

 

 

(8,205

)

 

 

 

 

 

 

 

 

 

 

 

(5,496

)

Acquisition related expenses

 

 

 

 

 

 

 

 

 

 

 

(244

)

 

 

 

 

 

 

 

 

 

 

 

—

 

Restructuring and other charges

 

 

 

 

 

 

 

 

 

 

 

(4,876

)

 

 

 

 

 

 

 

 

 

 

 

(4,742

)

Litigation reserves, net

 

 

 

 

 

 

 

 

 

 

 

(500

)

 

 

 

 

 

 

 

 

 

 

 

37

 

Other income, net (1)

 

 

 

 

 

 

 

 

 

 

 

1,581

 

 

 

 

 

 

 

 

 

 

 

 

8,171

 

Income (loss) before income taxes

 

 

 

 

 

 

 

 

 

$

 

(12,011

)

 

 

 

 

 

 

 

 

 

$

 

(4,628

)

 

 

(1)
Amounts included interest income of $2.0 million and $3.3 million for the three months ended March 29, 2026 and March 30, 2025, respectively. Amounts also included gain/(loss), net from derivatives not designated as hedging instruments of $0.4 million and $(1.0) million for the three months ended March 29, 2026, and March 30, 2025, respectively. For the three months ended March 29, 2026, the amount also included $0.6 million of imputed interest expense related to an intangible asset acquisition. For the three months ended March 30, 2025, the amount also included proceeds of $4.7 million from a sale of patents and gain/(loss), net from foreign currency transactions of $1.4 million.

The CODM does not evaluate operating segments using discrete asset information.

Operations by Geographic Region

For reporting purposes, revenue is generally attributed to each geographic region based on the location of the customer.

The following table shows net revenue by geography:

 

 

 

 

Three Months Ended

 

(In thousands)

 

 

March 29, 2026

 

 

 

March 30, 2025

 

United States (U.S.)

 

$

 

102,579

 

 

$

 

104,039

 

Americas (excluding U.S.)

 

 

 

3,284

 

 

 

 

3,722

 

EMEA (1)

 

 

 

33,475

 

 

 

 

32,129

 

APAC (1)

 

 

 

19,481

 

 

 

 

22,170

 

Total net revenue

 

$

 

158,819

 

 

$

 

162,060

 

 

(1)
No individual foreign country represented more than 10% of the Company’s total net revenue in the periods presented.

 

Long-lived assets by Geographic Region

The following table presents the Company’s long-lived assets located in geographic areas, which consist of property and equipment, net, and operating lease right-of-use assets:

 

(In thousands)

 

 

March 29, 2026

 

 

 

December 31, 2025

 

United States (U.S.)

 

$

 

40,549

 

 

$

 

42,836

 

Americas (excluding U.S. )

 

 

 

4,383

 

 

 

 

4,594

 

EMEA

 

 

 

2,563

 

 

 

 

2,345

 

APAC(1)

 

 

 

12,995

 

 

 

 

12,941

 

Total

 

$

 

60,490

 

 

$

 

62,716

 

 

(1)
No individual country represented more than 10% of the Company’s total long-lived assets in the periods presented.
v3.26.1
Fair Value Measurements
 3 Months Ended
Mar. 29, 2026
Fair Value Disclosures [Abstract]  
Fair Value Measurements

Note 13. Fair Value Measurements

The following tables summarize assets and liabilities measured at fair value on a recurring basis:

 

 

 

March 29, 2026

 

(In thousands)

 

 

Total

 

 

 

Quoted market
prices in active
markets
(Level 1)

 

 

 

Significant
other
observable
inputs
(Level 2)

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

Cash equivalents: money-market funds

 

$

 

83,625

 

 

$

 

83,625

 

 

$

 

—

 

Available-for-sale investments: U.S. treasury securities(1)

 

 

 

110,167

 

 

 

 

—

 

 

 

 

110,167

 

Trading securities: mutual funds(1)

 

 

 

2,866

 

 

 

 

2,866

 

 

 

 

—

 

Foreign currency forward contracts(2)

 

 

 

381

 

 

 

—

 

 

 

 

381

 

Total assets measured at fair value

 

$

 

197,039

 

 

$

 

86,491

 

 

$

 

110,548

 

Liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

Foreign currency forward contracts(3)

 

$

 

82

 

 

$

 

—

 

 

$

 

82

 

Total liabilities measured at fair value

 

$

 

82

 

 

$

 

—

 

 

$

 

82

 

 

 

 

 

December 31, 2025

 

(In thousands)

 

 

Total

 

 

 

Quoted market
prices in active
markets
(Level 1)

 

 

 

Significant
other
observable
inputs
(Level 2)

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

Cash equivalents: money-market funds

 

$

 

107,070

 

 

$

 

107,070

 

 

$

 

—

 

Available-for-sale investments: U.S. treasury securities(1)

 

 

 

110,210

 

 

 

 

—

 

 

 

 

110,210

 

Trading securities: mutual funds(1)

 

 

 

2,922

 

 

 

 

2,922

 

 

 

 

—

 

Foreign currency forward contracts(2)

 

 

 

315

 

 

 

—

 

 

 

 

315

 

Total assets measured at fair value

 

$

 

220,517

 

 

$

 

109,992

 

 

$

 

110,525

 

Liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

Foreign currency forward contracts(3)

 

$

 

729

 

 

$

 

—

 

 

$

 

729

 

Total liabilities measured at fair value

 

$

 

729

 

 

$

 

—

 

 

$

 

729

 

 

(1)
Included in Short-term investments on the Company’s unaudited condensed consolidated balance sheets.
(2)
Included in Prepaid expenses and other current assets on the Company’s unaudited condensed consolidated balance sheets.
(3)
Included in Other accrued liabilities on the Company's unaudited condensed consolidated balance sheets.

The Company’s investments in money-market funds and mutual funds are classified within Level 1 of the fair value hierarchy because they are valued based on quoted market prices in active markets. The Company’s investments in U.S. treasury

securities are classified within Level 2 of the fair value hierarchy because they are valued based on readily available pricing sources for comparable or identical instruments in less active markets. The Company’s foreign currency forward contracts are classified within Level 2 of the fair value hierarchy as they are valued using pricing models that consider the contract terms as well as currency rates and counterparty credit rates. The Company verifies the reasonableness of these pricing models using observable market data for related inputs into such models. The Company enters into foreign currency forward contracts with only those counterparties that have long-term credit ratings of A-/A3 or higher. The carrying value of non-financial assets and liabilities measured at fair value in the financial statements on a recurring basis, including accounts receivable and accounts payable, approximate fair value due to their short maturities.
v3.26.1
Restructuring and Other Charges
 3 Months Ended
Mar. 29, 2026
Restructuring Charges [Abstract]  
Restructuring and Other Charges

Note 14. Restructuring and Other Charges

The Company accounts for its restructuring plans under the authoritative guidance for exit or disposal activities. Accrued restructuring and other charges are classified within Accrued employee compensation and Other accrued liabilities on the condensed consolidated balance sheets.

Restructuring and other charges recognized in the three months ended March 29, 2026 and March 30, 2025 were primarily for severance and other costs in relation to the reorganization of the business. Charges in the current quarter primarily reflected a new restructuring action initiated in the first quarter of 2026, with the resulting savings intended to be reinvested in the Company’s strategic priorities to support its ongoing transformation. This action consists of severance and related costs incurred in connection with the Company’s efforts to align its cost structure and organizational design, and does not represent a single, defined exit plan with a pre-established total cost. Accordingly, the Company evaluates the total expected costs and cumulative costs incurred to date on an aggregate basis. These costs are managed at the corporate level and are not allocated to, or evaluated by, reportable segment. Restructuring and other charges are presented as a separate line item within operating expenses in the unaudited condensed consolidated statements of operations. Additional costs to be incurred under this first quarter of 2026 action subsequent to March 29, 2026 are not expected to be material. The vast majority of the liabilities as of March 29, 2026 are expected to be settled by the third fiscal quarter of 2026.

 

The following table provides a summary of the activity related to accrued restructuring and other charges:

 

(In thousands)

 

Accrued Restructuring and Other Charges at December 31, 2025

 

 

Additions

 

 

Cash Payments

 

 

Adjustments

 

 

Accrued Restructuring and Other Charges at March 29, 2026

 

Restructuring

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Employee termination charges

 

$

1,385

 

 

$

4,890

 

 

$

(3,095

)

 

$

(15

)

 

$

3,165

 

Lease contract termination and other charges

 

 

169

 

 

 

(14

)

 

 

—

 

 

 

—

 

 

$

155

 

Total Restructuring and other charges

 

$

1,554

 

 

$

4,876

 

 

$

(3,095

)

 

$

(15

)

 

$

3,320

 

 

(In thousands)

 

Accrued Restructuring and Other Charges at December 31, 2024

 

 

Additions

 

 

Cash Payments

 

 

Adjustments

 

 

Accrued Restructuring and Other Charges at March 30, 2025

 

Restructuring

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Employee termination charges

 

$

664

 

 

$

4,698

 

 

$

(4,259

)

 

$

(7

)

 

$

1,096

 

Lease contract termination and other charges

 

 

—

 

 

 

44

 

 

 

(8

)

 

 

(15

)

 

 

21

 

Total Restructuring and other charges

 

$

664

 

 

$

4,742

 

 

$

(4,267

)

 

$

(22

)

 

$

1,117

 
v3.26.1
Summary of Significant Accounting Policies (Policies)
 3 Months Ended
Mar. 29, 2026
Accounting Policies [Abstract]  
Recent Accounting Pronouncements

Recent Accounting Pronouncements

Accounting Pronouncements Recently Adopted

 

In July 2025, the FASB issued ASU 2025-05, "Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses for Accounts Receivable and Contract Assets", which introduces a practical expedient permitting entities to assume that current economic conditions as of the balance sheet date do not change over the remaining life of current accounts receivable and contract assets arising from transactions within the scope of ASC 606, including assets acquired in a business combination. The Company adopted ASU 2025-05 effective January 1, 2026 on a prospective basis. The adoption of this standard did not have a material impact on the Company's financial position, results of operations, or cash flows.

Accounting Pronouncements Not Yet Effective

In November 2024, the FASB issued ASU 2024-03, “Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses”, which expands the disclosure requirements for specific costs and expenses. ASU 2024-03 is effective for the Company for the year ending December 31, 2027 and early adoption is permitted. Upon adoption, the guidance should be applied retrospectively to all prior periods presented in the financial statements. The Company does not expect that the guidance will have material impacts on its financial position, results of operations or cash flows. The Company is evaluating the impact that the updated standard will have on its financial statement disclosures.

In September 2025, the FASB issued ASU 2025-06, “Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software”, which eliminates project stages and requires capitalizing costs when management has committed to funding the project and it is probable of completion. ASU 2025-06 is effective for the Company for its fiscal year and all interim periods beginning January 1, 2028 on a prospective basis. Early adoption is permitted. The Company is evaluating the impact that the updated standard will have on its financial position, results of operations or cash flow.

In November 2025, the FASB issued ASU 2025-09, "Derivatives and Hedging (Topic 815): Hedge Accounting Improvements", which amends existing hedge accounting guidance to better align financial reporting with the economics of an entity’s risk management activities. ASU 2025-09 is effective for the Company for its fiscal year and all interim periods beginning January 1, 2027 on a prospective basis. Early adoption is permitted. The Company is evaluating the impact that the updated standard will have on its financial statement disclosures.

With the exception of the new standards discussed above, there have been no other new accounting pronouncements that have significance, or potential significance, to the Company’s financial position, results of operations and cash flows.
Revenue Recognition

Transaction Price Allocated to the Remaining Performance Obligations

Remaining performance obligations represent the transaction price allocated to performance obligations that are unsatisfied or partially unsatisfied as of the end of the reporting period. Unsatisfied and partially unsatisfied performance obligations consist of contract liabilities, in-transit orders with destination terms, and non-cancellable backlog. Non-cancellable backlog includes goods for which customer purchase orders have been accepted, that are scheduled or in the process of being scheduled for shipment, and that are not yet invoiced.

Contract Balances

The Company records accounts receivable when it has an unconditional right to consideration. Contract liabilities are recorded when cash payments are received or due in advance of performance. Contract liabilities consist of advance payments and deferred revenue, where the Company has unsatisfied performance obligations. Contract liabilities are classified as Deferred revenue (current portion) and Other non-current liabilities (non-current portion) on the unaudited condensed consolidated balance sheets.

Payment terms vary by customer. The time between invoicing and when payment is due is not significant. For certain products or services and customer types, payment is required before the products or services are delivered to the customer.
Net Income (Loss) Per Share

Basic net income (loss) per share is computed by dividing the net income (loss) for the period by the weighted average number of common shares outstanding during the period. Diluted net income (loss) per share is computed by dividing the net income (loss) for the period by the weighted average number of shares of common stock and potentially dilutive common stock outstanding during the period. Potentially dilutive common shares include common shares issuable upon exercise of stock options, vesting of Restricted Stock Units (“RSUs”) and performance shares, and issuances of shares under the Employee Stock Purchase Plan (the “ESPP”), which are reflected in diluted net income (loss) per share by application of the treasury stock method. Potentially dilutive common shares are excluded from the computation of diluted net income (loss) per share when their effect is anti-dilutive.
v3.26.1
Revenue (Tables)
 3 Months Ended
Mar. 29, 2026
Revenue from Contract with Customer [Abstract]  
Schedule of Remaining Performance Obligations

The following table summarizes estimated revenue expected to be recognized in the future related to performance obligations that were unsatisfied (or partially unsatisfied) as of March 29, 2026:

 

(In thousands)

 

 

Less than 1 year

 

 

 

1 to 2 years

 

 

 

Beyond 2 years

 

 

 

Total

 

Performance obligations

 

$

 

59,073

 

 

$

 

2,308

 

 

$

 

1,755

 

 

$

 

63,136

 
Schedule of Contract Balances

The following table reflects the contract balances:

 

(In thousands)

 

Balance Sheet Location

 

 

March 29, 2026

 

 

 

December 31, 2025

 

Accounts receivable, net

 

Accounts receivable, net

 

$

 

142,155

 

 

$

 

142,045

 

Contract liabilities – current

 

Deferred revenue

 

$

 

26,199

 

 

$

 

26,904

 

Contract liabilities – non-current

 

Other non-current liabilities

 

$

 

4,025

 

 

$

 

4,206

 
Schedule of Net Revenue Disaggregated by Geographical Region and by Product Category

In the following tables, net revenue is disaggregated by geographic region and by product category, distinguishing the Company's service provider and related products from its other products. The Company conducts business across three geographic regions: Americas; Europe, Middle East and Africa (“EMEA”); and Asia Pacific (“APAC”). The tables also include reconciliations of the disaggregated revenue by reportable segment. As disclosed above, effective in the fourth quarter of 2025, the Company operates and reports in two segments: Enterprise (formerly NETGEAR for Business), and Consumer (comprising the former Home Networking and Mobile segments). Prior-period segment information has been recast to conform to the current presentation. Sales and usage-based taxes are excluded from net revenue.

 

 

 

Three Months Ended

 

 

 

 

March 29, 2026

 

 

 

March 30, 2025

 

(In thousands)

 

 

Enterprise

 

 

 

Consumer

 

 

 

Total

 

 

 

Enterprise

 

 

 

Consumer

 

 

 

Total

 

Geographic regions (1) :

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Americas

 

$

 

44,738

 

 

$

 

61,125

 

 

$

 

105,863

 

 

$

 

40,481

 

 

$

 

67,280

 

 

$

 

107,761

 

EMEA

 

 

 

25,113

 

 

 

 

8,362

 

 

 

 

33,475

 

 

 

 

24,339

 

 

 

 

7,790

 

 

 

 

32,129

 

APAC

 

 

 

13,951

 

 

 

 

5,530

 

 

 

 

19,481

 

 

 

 

14,371

 

 

 

 

7,799

 

 

 

 

22,170

 

Total

 

$

 

83,802

 

 

$

 

75,017

 

 

$

 

158,819

 

 

$

 

79,191

 

 

$

 

82,869

 

 

$

 

162,060

 

Product categories:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Service provider and related products (2)

 

$

 

191

 

 

$

 

20,232

 

 

$

 

20,423

 

 

$

 

270

 

 

$

 

29,707

 

 

$

 

29,977

 

Non-service provider

 

 

 

83,611

 

 

 

 

54,785

 

 

 

 

138,396

 

 

 

 

78,921

 

 

 

 

53,162

 

 

 

 

132,083

 

Total

 

$

 

83,802

 

 

$

 

75,017

 

 

$

 

158,819

 

 

$

 

79,191

 

 

$

 

82,869

 

 

$

 

162,060

 

_____________________________

(1) No individual foreign country represented more than 10% of the Company’s total net revenue in the periods presented.

(2) Service provider and related products net revenue in Consumer Segment included cable net revenue sold through retail. Prior-period amounts have been recast to conform to the current-period presentation.
v3.26.1
Balance Sheet Components (Tables)
 3 Months Ended
Mar. 29, 2026
Balance Sheet Related Disclosures [Abstract]  
Schedule of Amortized Cost and Estimated Fair Market Value of Investments Classified as Available-for-Sale Excluding Cash Equivalents

Amortized cost and estimated fair market value of investments classified as available-for-sale, excluding cash equivalents, as of March 29, 2026 and December 31, 2025, were as follows:

 

 

 

March 29, 2026

 

(In thousands)

 

 

Amortized Cost

 

 

 

Unrealized
Gains

 

 

 

Unrealized
Losses

 

 

 

Estimated
Fair Value

 

U.S. treasury securities

 

$

 

110,200

 

 

$

 

-

 

 

$

 

(33

)

 

$

 

110,167

 

Total

 

$

 

110,200

 

 

$

 

-

 

 

$

 

(33

)

 

$

 

110,167

 

 

 

 

 

December 31, 2025

 

(In thousands)

 

 

Amortized Cost

 

 

 

Unrealized
Gains

 

 

 

Unrealized
Losses

 

 

 

Estimated
Fair Value

 

U.S. treasury securities

 

$

 

110,048

 

 

$

 

162

 

 

$

 

—

 

 

$

 

110,210

 

Total

 

$

 

110,048

 

 

$

 

162

 

 

$

 

—

 

 

$

 

110,210

 
Schedule of Inventories

Inventories

 

(In thousands)

 

 

March 29, 2026

 

 

 

December 31, 2025

 

Raw materials

 

$

 

7,770

 

 

$

 

8,828

 

Finished goods

 

 

 

161,535

 

 

 

 

167,628

 

Total

 

$

 

169,305

 

 

$

 

176,456

 
Schedule of Property and Equipment, Net

Property and equipment, net

 

(In thousands)

 

 

March 29, 2026

 

 

 

December 31, 2025

 

Machinery and equipment

 

$

 

55,233

 

 

$

 

54,007

 

Furniture and fixtures

 

 

 

3,525

 

 

 

 

3,482

 

Leasehold improvements

 

 

 

21,842

 

 

 

 

21,475

 

Software

 

 

 

21,828

 

 

 

 

21,642

 

Computer equipment

 

 

 

3,640

 

 

 

 

3,370

 

Total property and equipment, gross

 

 

 

106,068

 

 

 

 

103,976

 

Accumulated depreciation

 

 

 

(79,886

)

 

 

 

(77,975

)

Total

 

$

 

26,182

 

 

$

 

26,001

 
Schedule of Intangibles, Net

Intangible Assets, net

 

 

March 29, 2026

 

 

 

December 31, 2025

 

(In thousands)

 

Gross

 

 

 

Accumulated
Amortization

 

 

 

Accumulated Impairment

 

 

 

Net

 

 

 

Gross

 

 

 

Accumulated
Amortization

 

 

 

Accumulated Impairment

 

 

 

Net

 

Technology

$

 

39,594

 

 

$

 

(2,581

)

 

$

 

—

 

 

$

 

37,013

 

 

$

 

39,594

 

 

$

 

(1,166

)

 

$

 

—

 

 

$

 

38,428

 

Other

 

 

60

 

 

 

 

(12

)

 

 

 

—

 

 

 

 

48

 

 

 

 

60

 

 

 

 

(8

)

 

 

 

—

 

 

 

 

52

 

Total

$

 

39,654

 

 

$

 

(2,593

)

 

$

 

—

 

 

$

 

37,061

 

 

$

 

39,654

 

 

$

 

(1,174

)

 

$

 

—

 

 

$

 

38,480

 
Schedule of Other Non-Current Assets

Other non-current assets

 

(In thousands)

 

 

March 29, 2026

 

 

 

December 31, 2025

 

Non-current deferred income taxes

 

$

 

2,459

 

 

$

 

2,386

 

Long-term investments

 

 

 

8,754

 

 

 

 

8,732

 

Restricted cash

 

 

 

2,100

 

 

 

 

2,102

 

Other

 

 

 

3,227

 

 

 

 

3,551

 

Total

 

$

 

16,540

 

 

$

 

16,771

 
Schedule of Other Current and Non-current Accrued Liabilities

Other current accrued liabilities

 

(In thousands)

 

 

March 29, 2026

 

 

 

December 31, 2025

 

Current operating lease liabilities

 

$

 

9,977

 

 

$

 

9,933

 

Sales and marketing

 

 

 

58,778

 

 

 

 

61,144

 

Warranty obligations

 

 

 

5,797

 

 

 

 

5,928

 

Sales returns(1)

 

 

 

21,375

 

 

 

 

24,435

 

Freight and duty

 

 

 

3,940

 

 

 

 

4,518

 

Current deferred consideration(2)

 

 

 

9,014

 

 

 

 

8,355

 

Other

 

 

 

30,199

 

 

 

 

29,715

 

Total

 

$

 

139,080

 

 

$

 

144,028

 

 

(1)
Inventory expected to be received from future sales returns amounted to $9.3 million and $10.8 million as of March 29, 2026 and December 31, 2025, respectively. Provisions to write down expected returned inventory to net realizable value amounted to $7.1 million and $7.9 million as of March 29, 2026 and December 31, 2025, respectively.
(2)
The balance represented current deferred consideration related to the acquisition of a perpetual software license. Refer to “Intangible Assets, net” above for additional information.

Other non-current accrued liabilities

(In thousands)

 

 

March 29, 2026

 

 

 

December 31, 2025

 

Non-current deferred consideration(1)

 

$

 

32,431

 

 

$

 

34,921

 

Non-current deferred revenue

 

 

 

4,025

 

 

 

 

4,206

 

Other

 

 

 

783

 

 

 

 

908

 

Total

 

$

 

37,239

 

 

$

 

40,035

 

 

(1)
The balance represented non-current deferred consideration related to the acquisition of a perpetual software license. Refer to “Intangible Assets, net” above for additional information.
v3.26.1
Derivative Financial Instruments (Tables)
 3 Months Ended
Mar. 29, 2026
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Fair Values of the Company's Derivative Instruments and the Line Items on the Unaudited Condensed Consolidated Balance Sheets

The fair values of the Company’s derivative instruments and the line items on the unaudited condensed consolidated balance sheets to which they were recorded were summarized as follows:

 

 

 

Balance Sheet

 

 

 

 

 

 

 

 

 

Balance Sheet

 

 

 

 

 

 

 

 

(In thousands)

 

Location

 

 

March 29,
2026

 

 

 

December 31,
2025

 

 

Location

 

 

March 29,
2026

 

 

 

December 31,
2025

 

Derivatives not designated as hedging instruments

 

Prepaid expenses and other current assets

 

$

 

366

 

 

$

 

315

 

 

Other accrued liabilities

 

$

 

81

 

 

$

 

699

 

Derivatives designated as hedging instruments

 

Prepaid expenses and other current assets

 

 

 

15

 

 

 

 

—

 

 

Other accrued liabilities

 

 

 

1

 

 

 

 

30

 

Total

 

 

 

$

 

381

 

 

$

 

315

 

 

 

 

$

 

82

 

 

$

 

729

 
v3.26.1
Net Income (Loss) Per Share (Tables)
 3 Months Ended
Mar. 29, 2026
Earnings Per Share [Abstract]  
Schedule of Net Income (Loss) Per Share

Net income (loss) per share consisted of the following:

 

 

 

 

Three Months Ended

 

(In thousands, except per share data)

 

 

March 29, 2026

 

 

 

March 30, 2025

 

Numerator:

 

 

 

 

 

 

 

 

Net loss

 

$

 

(13,040

)

 

$

 

(6,034

)

 

 

 

 

 

 

 

 

Denominator:

 

 

 

 

 

 

 

 

Weighted average common shares – basic

 

 

 

27,977

 

 

 

 

28,717

 

Potentially dilutive common share equivalent

 

 

 

—

 

 

 

 

—

 

Weighted average common shares – dilutive

 

 

 

27,977

 

 

 

 

28,717

 

 

 

 

 

 

 

 

 

Basic net loss per share

 

$

 

(0.47

)

 

$

 

(0.21

)

Diluted net loss per share

 

$

 

(0.47

)

 

$

 

(0.21

)

 

 

 

 

 

 

 

 

Anti-dilutive employee stock-based awards, excluded

 

 

 

905

 

 

 

 

258

 
v3.26.1
Commitments and Contingencies (Tables)
 3 Months Ended
Mar. 29, 2026
Commitments and Contingencies Disclosure [Abstract]  
Schedule of Changes in Warranty Obligations

Changes in the Company’s warranty obligations, which is included in Other accrued liabilities on the unaudited condensed consolidated balance sheets, were as follows:

 

 

 

 

Three Months Ended

 

(In thousands)

 

 

March 29, 2026

 

 

 

March 30, 2025

 

Balance as of beginning of the period

 

$

 

5,928

 

 

$

 

5,192

 

Provision for warranty liability made

 

 

 

1,170

 

 

 

 

1,254

 

Settlements made

 

 

 

(1,301

)

 

 

 

(1,139

)

Balance as of the end of the period

 

$

 

5,797

 

 

$

 

5,307

 
v3.26.1
Stockholders' Equity (Tables)
 3 Months Ended
Mar. 29, 2026
Stockholders' Equity Note [Abstract]  
Schedule of Accumulated Other Comprehensive Income (Loss)

The following tables set forth the changes in accumulated other comprehensive income (loss) (“AOCI”) by component:

 

(In thousands)

 

 

Unrealized gains (losses)
on available
-for-sale
investments

 

 

 

Unrealized
gains (losses)
on derivatives

 

 

 

Estimated tax benefit (provision)

 

 

 

Total

 

 

 

 

(In thousands)

 

Balance as of December 31, 2025

 

 

$

160

 

 

 

$

39

 

 

 

$

(3

)

 

 

$

196

 

Other comprehensive income (loss) before reclassifications

 

 

 

(195

)

 

 

 

(115

)

 

 

 

23

 

 

 

 

(287

)

Less: Amount reclassified from accumulated other comprehensive income (loss)

 

 

 

—

 

 

 

 

(80

)

 

 

 

17

 

 

 

 

(63

)

Net current period other comprehensive income (loss)

 

 

 

(195

)

 

 

 

(35

)

 

 

 

6

 

 

 

 

(224

)

Balance as of March 29, 2026

 

 

$

(35

)

 

 

$

4

 

 

 

$

3

 

 

 

$

(28

)

 

(In thousands)

 

 

Unrealized gains (losses)
on available
-for-sale
investments

 

 

 

Unrealized
gains (losses)
on derivatives

 

 

 

Estimated tax
benefit (provision)

 

 

 

Total

 

Balance as of December 31, 2024

 

 

$

169

 

 

 

$

79

 

 

 

$

(7

)

 

 

$

241

 

Other comprehensive income (loss) before reclassifications

 

 

 

(78

)

 

 

 

(662

)

 

 

 

115

 

 

 

 

(625

)

Less: Amount reclassified from accumulated other comprehensive income (loss)

 

 

 

—

 

 

 

 

(382

)

 

 

 

80

 

 

 

 

(302

)

Net current period other comprehensive income (loss)

 

 

 

(78

)

 

 

 

(280

)

 

 

 

35

 

 

 

 

(323

)

Balance as of March 30, 2025

 

 

$

91

 

 

 

$

(201

)

 

 

$

28

 

 

 

$

(82

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 
Schedule of Reclassification out of AOCI

The following table provides details about significant amounts reclassified out of each component of AOCI:

 

 

 

 

Three Months Ended

 

(In thousands)

 

 

March 29, 2026

 

 

 

March 30, 2025

 

Amount Reclassified from AOCI

 

 

 

 

 

 

 

 

Gains (losses) on cash flow hedge:

 

Foreign currency forward contracts

 

 

 

 

 

 

 

 

Affected line item in the statement of operations

 

 

 

 

 

 

 

 

Net revenue

 

$

 

(130

)

 

$

 

(522

)

Cost of revenue

 

 

 

1

 

 

 

 

—

 

Research and development

 

 

 

14

 

 

 

 

32

 

Sales and marketing

 

 

 

24

 

 

 

 

79

 

General and administrative

 

 

 

11

 

 

 

 

29

 

Total before tax

 

 

 

(80

)

 

 

 

(382

)

Tax impact

 

 

 

17

 

 

 

 

80

 

Total, net of tax

 

$

 

(63

)

 

$

 

(302

)
v3.26.1
Employee Benefit Plans (Tables)
 3 Months Ended
Mar. 29, 2026
Employee Benefit and Share-Based Payment Arrangement, Noncash Expense [Abstract]  
Schedule of Stock Option Activity

Stock option activity was as follows:

 

(In thousands, except per share amounts)

 

Number of
Shares

 

 

 

Weighted Average Exercise Price Per Share

 

 

Weighted
Average
Remaining
Contractual
Term

 

Outstanding as of December 31, 2025

 

 

101

 

 

$

 

33.24

 

 

 

 

Exercised

 

 

—

 

 

$

 

—

 

 

 

 

Expired

 

 

—

 

 

$

 

—

 

 

 

 

Outstanding as of March 29, 2026

 

 

101

 

 

$

 

33.24

 

 

 

2.70

 
Schedule of Time-Based RSU Activity

Time-based RSU activity was as follows:

 

(In thousands, except per share amounts)

 

Number
of Shares

 

 

 

Weighted Average Grant Date Fair Value Per Share

 

Outstanding as of December 31, 2025

 

 

2,294

 

 

$

 

22.27

 

Granted

 

 

57

 

 

$

 

21.76

 

Vested

 

 

(227

)

 

$

 

16.47

 

Cancelled

 

 

(43

)

 

$

 

22.00

 

Outstanding as of March 29, 2026

 

 

2,081

 

 

$

 

22.90

 
Schedule of PSU Activity

PSU activity was as follows:

(In thousands, except per share amounts)

 

Number
of Shares

 

 

 

Weighted Average Grant Date Fair Value Per Share

 

Outstanding as of December 31, 2025

 

 

805

 

 

$

 

33.64

 

Granted

 

 

6

 

 

$

 

20.71

 

Vested

 

 

(157

)

 

$

 

20.71

 

Cancelled

 

 

—

 

 

$

 

—

 

Outstanding as of March 29, 2026

 

 

654

 

 

$

 

36.65

 

 
Schedule of Total Stock-Based Compensation Expense Resulting from Stock Options, RSUs, Time-Based and Performance-Based and the ESPP

Valuation and Expense Information

The following table sets forth the stock-based compensation expense resulting from stock options, RSUs (time-based and performance-based) and the ESPP included in the Company’s unaudited condensed consolidated statements of operations:

 

 

 

 

Three Months Ended

 

(In thousands)

 

 

March 29, 2026

 

 

 

March 30, 2025

 

Cost of revenue

 

$

 

501

 

 

$

 

422

 

Research and development

 

 

 

1,103

 

 

 

 

592

 

Sales and marketing

 

 

 

2,265

 

 

 

 

1,313

 

General and administrative

 

 

 

4,336

 

 

 

 

3,169

 

Total

 

$

 

8,205

 

 

$

 

5,496

 
v3.26.1
Segment Information (Tables)
 3 Months Ended
Mar. 29, 2026
Segment Reporting [Abstract]  
Schedule of Reportable Segments and Reconciliation of Segment Contribution Income to Income (Loss) Before Income Taxes

Financial information for each reportable segment and a reconciliation of segment contribution income to income (loss) before income taxes is as follows:

 

 

 

 

Three Months Ended

 

 

 

 

March 29, 2026

 

 

 

March 30, 2025

 

(In thousands, except percentage data)

 

 

Enterprise

 

 

 

Consumer

 

 

 

Total

 

 

 

Enterprise

 

 

 

Consumer

 

 

 

Total

 

Net revenue

 

$

 

83,802

 

 

$

 

75,017

 

 

$

 

158,819

 

 

$

 

79,191

 

 

$

 

82,869

 

 

$

 

162,060

 

Segment cost of revenue

 

 

 

39,658

 

 

 

 

52,940

 

 

 

 

92,598

 

 

 

 

42,530

 

 

 

 

62,782

 

 

 

 

105,312

 

Segment Gross profit

 

 

 

44,144

 

 

 

 

22,077

 

 

 

 

66,221

 

 

 

 

36,661

 

 

 

 

20,087

 

 

 

 

56,748

 

Segment Gross margin

 

 

 

52.7

%

 

 

 

29.4

%

 

 

 

 

 

 

 

46.3

%

 

 

 

24.2

%

 

 

 

 

Segment operating expenses

 

 

 

24,087

 

 

 

 

22,203

 

 

 

 

46,290

 

 

 

 

19,026

 

 

 

 

21,552

 

 

 

 

40,578

 

Contribution income (loss)

 

 

 

20,057

 

 

 

 

(126

)

 

 

 

19,931

 

 

 

 

17,635

 

 

 

 

(1,465

)

 

 

 

16,170

 

Contribution margin

 

 

 

23.9

%

 

 

 

(0.2

)%

 

 

 

 

 

 

 

22.3

%

 

 

 

(1.8

)%

 

 

 

 

Corporate and unallocated costs

 

 

 

 

 

 

 

 

 

 

 

(18,279

)

 

 

 

 

 

 

 

 

 

 

 

(18,768

)

Amortization of intangible assets

 

 

 

 

 

 

 

 

 

 

 

(1,419

)

 

 

 

 

 

 

 

 

 

 

 

—

 

Stock-based compensation expense

 

 

 

 

 

 

 

 

 

 

 

(8,205

)

 

 

 

 

 

 

 

 

 

 

 

(5,496

)

Acquisition related expenses

 

 

 

 

 

 

 

 

 

 

 

(244

)

 

 

 

 

 

 

 

 

 

 

 

—

 

Restructuring and other charges

 

 

 

 

 

 

 

 

 

 

 

(4,876

)

 

 

 

 

 

 

 

 

 

 

 

(4,742

)

Litigation reserves, net

 

 

 

 

 

 

 

 

 

 

 

(500

)

 

 

 

 

 

 

 

 

 

 

 

37

 

Other income, net (1)

 

 

 

 

 

 

 

 

 

 

 

1,581

 

 

 

 

 

 

 

 

 

 

 

 

8,171

 

Income (loss) before income taxes

 

 

 

 

 

 

 

 

 

$

 

(12,011

)

 

 

 

 

 

 

 

 

 

$

 

(4,628

)

 

 

(1)
Amounts included interest income of $2.0 million and $3.3 million for the three months ended March 29, 2026 and March 30, 2025, respectively. Amounts also included gain/(loss), net from derivatives not designated as hedging instruments of $0.4 million and $(1.0) million for the three months ended March 29, 2026, and March 30, 2025, respectively. For the three months ended March 29, 2026, the amount also included $0.6 million of imputed interest expense related to an intangible asset acquisition. For the three months ended March 30, 2025, the amount also included proceeds of $4.7 million from a sale of patents and gain/(loss), net from foreign currency transactions of $1.4 million.
Schedule of Net Revenue by Geography

The following table shows net revenue by geography:

 

 

 

 

Three Months Ended

 

(In thousands)

 

 

March 29, 2026

 

 

 

March 30, 2025

 

United States (U.S.)

 

$

 

102,579

 

 

$

 

104,039

 

Americas (excluding U.S.)

 

 

 

3,284

 

 

 

 

3,722

 

EMEA (1)

 

 

 

33,475

 

 

 

 

32,129

 

APAC (1)

 

 

 

19,481

 

 

 

 

22,170

 

Total net revenue

 

$

 

158,819

 

 

$

 

162,060

 

 

(1)
No individual foreign country represented more than 10% of the Company’s total net revenue in the periods presented.
Schedule of Long-Lived Asset By Geographic Region

The following table presents the Company’s long-lived assets located in geographic areas, which consist of property and equipment, net, and operating lease right-of-use assets:

 

(In thousands)

 

 

March 29, 2026

 

 

 

December 31, 2025

 

United States (U.S.)

 

$

 

40,549

 

 

$

 

42,836

 

Americas (excluding U.S. )

 

 

 

4,383

 

 

 

 

4,594

 

EMEA

 

 

 

2,563

 

 

 

 

2,345

 

APAC(1)

 

 

 

12,995

 

 

 

 

12,941

 

Total

 

$

 

60,490

 

 

$

 

62,716

 

 

(1)
No individual country represented more than 10% of the Company’s total long-lived assets in the periods presented.
v3.26.1
Fair Value Measurements (Tables)
 3 Months Ended
Mar. 29, 2026
Fair Value Disclosures [Abstract]  
Fair Value, Assets and Liabilities Measured on Recurring Basis

The following tables summarize assets and liabilities measured at fair value on a recurring basis:

 

 

 

March 29, 2026

 

(In thousands)

 

 

Total

 

 

 

Quoted market
prices in active
markets
(Level 1)

 

 

 

Significant
other
observable
inputs
(Level 2)

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

Cash equivalents: money-market funds

 

$

 

83,625

 

 

$

 

83,625

 

 

$

 

—

 

Available-for-sale investments: U.S. treasury securities(1)

 

 

 

110,167

 

 

 

 

—

 

 

 

 

110,167

 

Trading securities: mutual funds(1)

 

 

 

2,866

 

 

 

 

2,866

 

 

 

 

—

 

Foreign currency forward contracts(2)

 

 

 

381

 

 

 

—

 

 

 

 

381

 

Total assets measured at fair value

 

$

 

197,039

 

 

$

 

86,491

 

 

$

 

110,548

 

Liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

Foreign currency forward contracts(3)

 

$

 

82

 

 

$

 

—

 

 

$

 

82

 

Total liabilities measured at fair value

 

$

 

82

 

 

$

 

—

 

 

$

 

82

 

 

 

 

 

December 31, 2025

 

(In thousands)

 

 

Total

 

 

 

Quoted market
prices in active
markets
(Level 1)

 

 

 

Significant
other
observable
inputs
(Level 2)

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

Cash equivalents: money-market funds

 

$

 

107,070

 

 

$

 

107,070

 

 

$

 

—

 

Available-for-sale investments: U.S. treasury securities(1)

 

 

 

110,210

 

 

 

 

—

 

 

 

 

110,210

 

Trading securities: mutual funds(1)

 

 

 

2,922

 

 

 

 

2,922

 

 

 

 

—

 

Foreign currency forward contracts(2)

 

 

 

315

 

 

 

—

 

 

 

 

315

 

Total assets measured at fair value

 

$

 

220,517

 

 

$

 

109,992

 

 

$

 

110,525

 

Liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

Foreign currency forward contracts(3)

 

$

 

729

 

 

$

 

—

 

 

$

 

729

 

Total liabilities measured at fair value

 

$

 

729

 

 

$

 

—

 

 

$

 

729

 

 

(1)
Included in Short-term investments on the Company’s unaudited condensed consolidated balance sheets.
(2)
Included in Prepaid expenses and other current assets on the Company’s unaudited condensed consolidated balance sheets.
(3)
Included in Other accrued liabilities on the Company's unaudited condensed consolidated balance sheets.
v3.26.1
Restructuring and Other Charges (Tables)
 3 Months Ended
Mar. 29, 2026
Restructuring Charges [Abstract]  
Summary of Activity Related to Accrued Restructuring and Other Charges

The following table provides a summary of the activity related to accrued restructuring and other charges:

 

(In thousands)

 

Accrued Restructuring and Other Charges at December 31, 2025

 

 

Additions

 

 

Cash Payments

 

 

Adjustments

 

 

Accrued Restructuring and Other Charges at March 29, 2026

 

Restructuring

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Employee termination charges

 

$

1,385

 

 

$

4,890

 

 

$

(3,095

)

 

$

(15

)

 

$

3,165

 

Lease contract termination and other charges

 

 

169

 

 

 

(14

)

 

 

—

 

 

 

—

 

 

$

155

 

Total Restructuring and other charges

 

$

1,554

 

 

$

4,876

 

 

$

(3,095

)

 

$

(15

)

 

$

3,320

 

 

(In thousands)

 

Accrued Restructuring and Other Charges at December 31, 2024

 

 

Additions

 

 

Cash Payments

 

 

Adjustments

 

 

Accrued Restructuring and Other Charges at March 30, 2025

 

Restructuring

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Employee termination charges

 

$

664

 

 

$

4,698

 

 

$

(4,259

)

 

$

(7

)

 

$

1,096

 

Lease contract termination and other charges

 

 

—

 

 

 

44

 

 

 

(8

)

 

 

(15

)

 

 

21

 

Total Restructuring and other charges

 

$

664

 

 

$

4,742

 

 

$

(4,267

)

 

$

(22

)

 

$

1,117

 
v3.26.1
Business Acquisition (Narrative) (Details) - Exium
$ in Millions
Jun. 16, 2025
USD ($)
Business Acquisition [Line Items]  
Total purchase consideration $ 12.6
Intangible assets acquired 4.3
Goodwill acquired 8.7
Developed Technology  
Business Acquisition [Line Items]  
Intangible assets acquired $ 4.2
v3.26.1
Revenue (Schedule of Remaining Performance Obligations) (Details)
$ in Thousands
Mar. 29, 2026
USD ($)
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]  
Performance obligations, amount $ 63,136
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2026-03-30  
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]  
Performance obligations, amount $ 59,073
Performance obligations, period 9 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2027-01-01  
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]  
Performance obligations, amount $ 2,308
Performance obligations, period 1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2028-01-01  
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]  
Performance obligations, amount $ 1,755
Performance obligations, period
v3.26.1
Revenue (Schedule of Remaining Performance Obligations) (Details 1)
$ in Thousands
Mar. 29, 2026
USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Performance obligations, amount $ 63,136
v3.26.1
Revenue (Schedule of Contract Balances) (Details) - USD ($)
$ in Thousands
Mar. 29, 2026
Dec. 31, 2025
Revenue from Contract with Customer [Abstract]    
Accounts receivable, net $ 142,155 $ 142,045
Contract liabilities - current 26,199 26,904
Contract liabilities - non-current $ 4,025 $ 4,206
v3.26.1
Revenue (Narrative) (Details)
$ in Millions
 3 Months Ended 9 Months Ended
Mar. 29, 2026
USD ($)
Segment
Region
Mar. 30, 2025
USD ($)
Sep. 28, 2025
Segment
Revenue from Contract with Customer [Abstract]      
Revenue deferred due to unsatisfied performance obligations $ 11.3 $ 12.1  
Revenue recognized for satisfaction of performance obligations 12.2 12.2  
Contract with Customer, Liability Included In Beginning Balance, Revenue Recognized $ 10.6 $ 10.8  
Number of geographic regions in which the Company conducts business | Region 3    
Number of operating segments | Segment 2    
Number of reportable segments | Segment 2   3
v3.26.1
Revenue (Schedule of Net Revenue Disaggregated by Geographical Region and by Product Category) (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 29, 2026
Mar. 30, 2025
Disaggregation of Revenue [Line Items]    
Total net revenue [1] $ 158,819 $ 162,060
Service provider and related products    
Disaggregation of Revenue [Line Items]    
Total net revenue [2] 20,423 29,977
Non-service provider    
Disaggregation of Revenue [Line Items]    
Total net revenue 138,396 132,083
Enterprise    
Disaggregation of Revenue [Line Items]    
Total net revenue [1] 83,802 79,191
Enterprise | Service provider and related products    
Disaggregation of Revenue [Line Items]    
Total net revenue [2] 191 270
Enterprise | Non-service provider    
Disaggregation of Revenue [Line Items]    
Total net revenue 83,611 78,921
Consumer    
Disaggregation of Revenue [Line Items]    
Total net revenue [1] 75,017 82,869
Consumer | Service provider and related products    
Disaggregation of Revenue [Line Items]    
Total net revenue [2] 20,232 29,707
Consumer | Non-service provider    
Disaggregation of Revenue [Line Items]    
Total net revenue 54,785 53,162
Americas    
Disaggregation of Revenue [Line Items]    
Total net revenue [1] 105,863 107,761
Americas | Enterprise    
Disaggregation of Revenue [Line Items]    
Total net revenue [1] 44,738 40,481
Americas | Consumer    
Disaggregation of Revenue [Line Items]    
Total net revenue [1] 61,125 67,280
EMEA    
Disaggregation of Revenue [Line Items]    
Total net revenue [1],[3] 33,475 32,129
EMEA | Enterprise    
Disaggregation of Revenue [Line Items]    
Total net revenue [1] 25,113 24,339
EMEA | Consumer    
Disaggregation of Revenue [Line Items]    
Total net revenue [1] 8,362 7,790
APAC    
Disaggregation of Revenue [Line Items]    
Total net revenue [1] 19,481 22,170
APAC | Enterprise    
Disaggregation of Revenue [Line Items]    
Total net revenue [1] 13,951 14,371
APAC | Consumer    
Disaggregation of Revenue [Line Items]    
Total net revenue [1] $ 5,530 $ 7,799
[1] No individual foreign country represented more than 10% of the Company’s total net revenue in the periods presented.
[2] Service provider and related products net revenue in Consumer Segment included cable net revenue sold through retail. Prior-period amounts have been recast to conform to the current-period presentation.
[3] No individual foreign country represented more than 10% of the Company’s total net revenue in the periods presented.
v3.26.1
Revenue (Schedule of Net Revenue Disaggregated by Geographical Region and by Product Category) (Parenthetical) (Details)
 3 Months Ended
Mar. 29, 2026
Mar. 30, 2025
Maximum    
Disaggregation of Revenue [Line Items]    
Percentage of net revenue 10.00% 10.00%
v3.26.1
Balance Sheet Components (Schedule of Amortized Cost and Estimated Fair Market Value of Investments Classified as Available-for-Sale Excluding Cash Equivalents) (Details) - USD ($)
$ in Thousands
Mar. 29, 2026
Dec. 31, 2025
Schedule Of Available For Sale Securities [Line Items]    
Amortized Cost $ 110,200 $ 110,048
Unrealized Gains (0) 162
Unrealized Losses (33) 0
Estimated Fair Value 110,167 110,210
U.S. Treasury Securities    
Schedule Of Available For Sale Securities [Line Items]    
Amortized Cost 110,200 110,048
Unrealized Gains (0) 162
Unrealized Losses (33) 0
Estimated Fair Value $ 110,167 $ 110,210
v3.26.1
Balance Sheet Components (Narrative) (Details)
 3 Months Ended
Mar. 29, 2026
USD ($)
Investment
Mar. 30, 2025
USD ($)
Dec. 31, 2025
USD ($)
Investment
Dec. 31, 2024
USD ($)
Balance Sheet Related Disclosures [Line Items]        
Accrued interest receivable $ 1,400,000      
Investments classified as available-for-sale in continuous unrealized loss position | Investment 0   0  
Unrealized losses on available-for-sale securities $ 0 $ 0    
Other-than-temporary impairments 0 0    
Provisions for excess and obsolete inventory 1,900,000 1,435,000    
Amortization expense $ 1,419,000 0    
Weighted remaining useful life for the intangible assets 6 years 7 months 6 days      
Equity securities without readily determinable fair value, cumulative downward adjustments for price change and impairment loss $ 0      
Cumulative upward adjustments for price changes 300,000      
Carrying value of equity investments without readily determinable fair values 6,100,000 6,100,000    
Equity investments 8,754,000   $ 8,732,000  
Software License        
Balance Sheet Related Disclosures [Line Items]        
Payments to acquire intangible assets 35,400,000      
Limited Partnership Fund        
Balance Sheet Related Disclosures [Line Items]        
Equity investments $ 2,700,000 $ 2,400,000 $ 2,600,000 $ 2,300,000
v3.26.1
Balance Sheet Components (Schedule of Inventories) (Details) - USD ($)
$ in Thousands
Mar. 29, 2026
Dec. 31, 2025
Balance Sheet Related Disclosures [Abstract]    
Raw materials $ 7,770 $ 8,828
Finished goods 161,535 167,628
Total $ 169,305 $ 176,456
v3.26.1
Balance Sheet Components (Schedule of Property and Equipment, Net) (Details) - USD ($)
$ in Thousands
Mar. 29, 2026
Dec. 31, 2025
Total property and equipment, gross $ 106,068 $ 103,976
Accumulated depreciation (79,886) (77,975)
Total 26,182 26,001
Machinery and equipment    
Total property and equipment, gross 55,233 54,007
Furniture and fixtures    
Total property and equipment, gross 3,525 3,482
Leasehold improvements    
Total property and equipment, gross 21,842 21,475
Software    
Total property and equipment, gross 21,828 21,642
Computer equipment    
Total property and equipment, gross $ 3,640 $ 3,370
v3.26.1
Balance Sheet Components (Schedule of Intangibles, Net) (Details) - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended
Mar. 31, 2026
Dec. 31, 2025
Mar. 29, 2026
Finite-Lived Intangible Assets [Line Items]      
Gross   $ 39,654 $ 39,654
Accumulated Amortization   (1,174) (2,593)
Accumulated Impairment $ 0 0  
Net   38,480 37,061
Technology      
Finite-Lived Intangible Assets [Line Items]      
Gross   39,594 39,594
Accumulated Amortization   (1,166) (2,581)
Accumulated Impairment 0 0  
Net   38,428 37,013
Other      
Finite-Lived Intangible Assets [Line Items]      
Gross   60 60
Accumulated Amortization   (8) (12)
Accumulated Impairment $ 0 0  
Net   $ 52 $ 48
v3.26.1
Balance Sheet Components (Schedule of Other Non-Current Assets) (Details) - USD ($)
$ in Thousands
Mar. 29, 2026
Dec. 31, 2025
Balance Sheet Related Disclosures [Abstract]    
Non-current deferred income taxes $ 2,459 $ 2,386
Long-term investments 8,754 8,732
Restricted cash 2,100 2,102
Other 3,227 3,551
Total $ 16,540 $ 16,771
v3.26.1
Balance Sheet Components (Schedule of Other Current Accrued Liabilities) (Details) - USD ($)
$ in Thousands
Mar. 29, 2026
Dec. 31, 2025
Balance Sheet Related Disclosures [Abstract]    
Current operating lease liabilities $ 9,977 $ 9,933
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration] Total Total
Sales and marketing $ 58,778 $ 61,144
Warranty obligations 5,797 5,928
Sales returns [1] 21,375 24,435
Freight and duty 3,940 4,518
Current deferred consideration [2] 9,014 8,355
Other 30,199 29,715
Total $ 139,080 $ 144,028
[1] Inventory expected to be received from future sales returns amounted to $9.3 million and $10.8 million as of March 29, 2026 and December 31, 2025, respectively. Provisions to write down expected returned inventory to net realizable value amounted to $7.1 million and $7.9 million as of March 29, 2026 and December 31, 2025, respectively.
[2] The balance represented current deferred consideration related to the acquisition of a perpetual software license. Refer to “Intangible Assets, net” above for additional information.
v3.26.1
Balance Sheet Components (Schedule of Other Non-current Accrued Liabilities) (Details) - USD ($)
$ in Thousands
Mar. 29, 2026
Dec. 31, 2025
Balance Sheet Related Disclosures [Abstract]    
Non-current deferred consideration [1] $ 32,431 $ 34,921
Non-current deferred revenue 4,025 4,206
Other 783 908
Total $ 37,239 $ 40,035
[1] The balance represented non-current deferred consideration related to the acquisition of a perpetual software license. Refer to “Intangible Assets, net” above for additional information.
v3.26.1
Balance Sheet Components (Schedule of Other Accrued Liabilities) (Parentheticals) (Details) - USD ($)
$ in Millions
Mar. 29, 2026
Dec. 31, 2025
Balance Sheet Related Disclosures [Abstract]    
Inventory expected to be received from future sales returns $ 9.3 $ 10.8
Provisions to write down expected returned inventory to net realizable value $ 7.1 $ 7.9
v3.26.1
Derivative Financial Instruments (Narrative) (Details) - Foreign currency forward contracts
$ in Millions
 3 Months Ended
Mar. 29, 2026
USD ($)
Derivative_instrument
Derivatives Not Designated as Hedging Instruments  
Derivative [Line Items]  
Approximate number of derivatives per quarter | Derivative_instrument 12
Notional amount | $ $ 2.9
Cash Flow Hedges  
Derivative [Line Items]  
Approximate number of derivatives per quarter | Derivative_instrument 10
Notional amount | $ $ 4.4
Maximum  
Derivative [Line Items]  
Term of derivative contracts 6 months
Maximum | Derivatives Not Designated as Hedging Instruments  
Derivative [Line Items]  
Term of derivative contracts 3 months
Maximum | Cash Flow Hedges  
Derivative [Line Items]  
Term of derivative contracts 6 months
v3.26.1
Derivative Financial Instruments (Schedule of Fair Values of the Company's Derivative Instruments and the Line Items on the Unaudited Condensed Consolidated Balance Sheets) (Details) - USD ($)
$ in Thousands
Mar. 29, 2026
Dec. 31, 2025
Derivatives, Fair Value [Line Items]    
Gross Amounts of recognized assets $ 381 $ 315
Gross Amounts of recognized liabilities 82 729
Prepaid expenses and other current assets | Derivatives not designated as hedging instruments    
Derivatives, Fair Value [Line Items]    
Gross Amounts of recognized assets 366 315
Prepaid expenses and other current assets | Derivatives designated as hedging instruments    
Derivatives, Fair Value [Line Items]    
Gross Amounts of recognized assets 15 0
Other accrued liabilities | Derivatives not designated as hedging instruments    
Derivatives, Fair Value [Line Items]    
Gross Amounts of recognized liabilities 81 699
Other accrued liabilities | Derivatives designated as hedging instruments    
Derivatives, Fair Value [Line Items]    
Gross Amounts of recognized liabilities $ 1 $ 30
v3.26.1
Net Income (Loss) Per Share (Schedule of Net Income (Loss) Per Share) (Details) - USD ($)
$ / shares in Units, shares in Thousands, $ in Thousands
 3 Months Ended
Mar. 29, 2026
Mar. 30, 2025
Numerator:    
Net loss $ (13,040) $ (6,034)
Denominator:    
Weighted average common shares - basic 27,977 28,717
Potentially dilutive common share equivalent 0 0
Weighted average common shares - dilutive 27,977 28,717
Basic net income (loss) per share $ (0.47) $ (0.21)
Diluted net income (loss) per share $ (0.47) $ (0.21)
Anti-dilutive employee stock-based awards, excluded 905 258
v3.26.1
Income Taxes (Narrative) (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 29, 2026
Mar. 30, 2025
Schedule Of Income Taxes [Line Items]    
Tax impact $ 1,029 $ 1,406
Effective tax rate (8.60%) (30.40%)
Possible reduction in liabilities for uncertain tax positions $ 1,400  
v3.26.1
Commitments and Contingencies (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 29, 2026
Mar. 30, 2025
Dec. 31, 2025
Loss Contingencies [Line Items]      
Non-cancelable purchase commitments with suppliers $ 62,900   $ 55,300
Additional purchase orders beyond contractual termination periods 224,700    
Litigation reserves, net $ (500) $ 37  
46 to 60 Days      
Loss Contingencies [Line Items]      
Percentage of cancelable orders 50.00%    
46 to 60 Days | Minimum      
Loss Contingencies [Line Items]      
Required notice period prior to expected shipment date 46 days    
46 to 60 Days | Maximum      
Loss Contingencies [Line Items]      
Required notice period prior to expected shipment date 60 days    
31 to 45 Days      
Loss Contingencies [Line Items]      
Percentage of cancelable orders 25.00%    
31 to 45 Days | Minimum      
Loss Contingencies [Line Items]      
Required notice period prior to expected shipment date 31 days    
31 to 45 Days | Maximum      
Loss Contingencies [Line Items]      
Required notice period prior to expected shipment date 45 days    
Non- Trade      
Loss Contingencies [Line Items]      
Long-term, non-cancellable purchase commitments $ 9,400    
v3.26.1
Commitments and Contingencies (Schedule of Changes in Warranty Obligations) (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 29, 2026
Mar. 30, 2025
Movement in Standard Product Warranty Accrual [Roll Forward]    
Balance as of beginning of the period $ 5,928 $ 5,192
Provision for warranty liability made 1,170 1,254
Settlements made (1,301) (1,139)
Balance as of the end of the period $ 5,797 $ 5,307
v3.26.1
Stockholders' Equity (Narrative) (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 29, 2026
Mar. 30, 2025
Apr. 22, 2026
Class of Stock [Line Items]      
Shares remaining authorized for repurchase (in shares) 559,000    
Stock repurchased and retired (in shares) 900,000 300,000  
Cost of stock repurchased and retired $ 20,136 $ 7,500  
Cost of stock repurchased and retired excluding exercise tax $ 20,000 $ 7,500  
RSU withholdings (in shares) 193,000 186,000  
RSU withholdings $ 4,028 $ 5,141  
Common Stock      
Class of Stock [Line Items]      
Stock repurchased and retired (in shares) 929,000 254,000  
Cost of stock repurchased and retired $ 1    
RSU withholdings (in shares) 193,000 186,000  
Subsequent Event | Common Stock      
Class of Stock [Line Items]      
Incremental amount of common stock repurchase authorized     $ 75,000
v3.26.1
Stockholders' Equity (Schedule of Changes in Accumulated Other Comprehensive Income (Loss) by Component) (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 29, 2026
Mar. 30, 2025
Estimated tax benefit (provision)    
Beginning balance $ (3) $ (7)
Other comprehensive income (loss) before reclassifications 23 115
Less: Amount reclassified from accumulated other comprehensive income (loss) 17 80
Net current period other comprehensive income (loss) 6 35
Ending balance 3 28
AOCI, after tax    
Beginning balance 497,823 541,066
Other comprehensive income (loss) before reclassifications (287) (625)
Less: Amount reclassified from accumulated other comprehensive income (loss) (63) (302)
Net current period other comprehensive income (loss) (224) (323)
Ending balance 471,155 534,243
Unrealized gains (losses) on available-for-sale investments    
AOCI, before tax    
Beginning balance 160 169
Other comprehensive income (loss) before reclassifications (195) (78)
Less: Amount reclassified from accumulated other comprehensive income (loss) 0 0
Net current period other comprehensive income (loss) (195) (78)
Ending balance (35) 91
Unrealized gains (losses) on derivatives    
AOCI, before tax    
Beginning balance 39 79
Other comprehensive income (loss) before reclassifications (115) (662)
Less: Amount reclassified from accumulated other comprehensive income (loss) (80) (382)
Net current period other comprehensive income (loss) (35) (280)
Ending balance 4 (201)
AOCI    
AOCI, after tax    
Beginning balance 196 241
Ending balance $ (28) $ (82)
v3.26.1
Stockholders' Equity (Schedule of Reclassifications out of AOCI) (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 29, 2026
Mar. 30, 2025
Reclassification Out of Accumulated Other Comprehensive Income [Line Items]    
Net revenue [1] $ 158,819 $ 162,060
Cost of revenue (94,517) (105,734)
Research and development (21,665) (18,309)
Sales and marketing (31,670) (28,041)
General and administrative (19,183) (18,070)
Tax impact (1,029) (1,406)
Amount Reclassified from AOCI    
Reclassification Out of Accumulated Other Comprehensive Income [Line Items]    
Net revenue (130) (522)
Cost of revenue 1 0
Research and development 14 32
Sales and marketing 24 79
General and administrative 11 29
Total before tax (80) (382)
Tax impact 17 80
Total, net of tax $ (63) $ (302)
[1] No individual foreign country represented more than 10% of the Company’s total net revenue in the periods presented.
v3.26.1
Employee Benefit Plans (Narrative) (Details) - USD ($)
$ in Millions
 1 Months Ended 3 Months Ended
Apr. 30, 2025
Mar. 29, 2026
Mar. 30, 2025
2025 Equity Incentive Plan      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Number of shares reserved for future grant (in shares)   2,400,000  
Increase in number of shares of common stock authorized 750,000    
2024 Inducement Equity Incentive Plan      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Number of shares reserved for future grant (in shares)   200,000  
Employee Stock Purchase Plan      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Number of shares reserved for future grant (in shares)   1,600,000  
Purchase percentage of stock at fair market value (in percentage)   85.00%  
Performance-Based RSU | 2025 Equity Incentive Plan      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Vesting term   3 years  
Time-Based RSU | 2025 Equity Incentive Plan      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Vesting term   3 years  
Time-Based RSU | 2025 Equity Incentive Plan | Target Shares Granted      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Vesting term   12 months  
Time-Based RSU | 2025 Equity Incentive Plan | Remaining Tranche      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Vesting term   2 years  
Performance Shares | Minimum | Target Shares Granted      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Percentage vest of performance shares   0.00%  
Performance Shares | Maximum | Target Shares Granted      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Percentage vest of performance shares   200.00%  
Performance Shares | 2016 Plan, 2024 Inducement Plan and 2025 Plan      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Vesting term   3 years 3 years
Restricted Stock Units (RSUs)      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Total unrecognized compensation   $ 50.5  
Weighted-average period of recognition of stock based compensation   1 year 8 months 12 days  
v3.26.1
Employee Benefit Plans (Schedule of Stock Option Activity) (Details) - Employee Stock Option
shares in Thousands
 3 Months Ended
Mar. 29, 2026
$ / shares
shares
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]  
Number of shares, beginning balance (in shares) | shares 101
Number of shares, ending balance (in shares) | shares 101
Beginning balance (in dollars per share) | $ / shares $ 33.24
Ending balance (in dollars per share) | $ / shares $ 33.24
Outstanding, Weighted Average Remaining Contractual Term 2 years 8 months 12 days
v3.26.1
Employee Benefit Plans (Schedule of Time-Based RSU Activity) (Details) - Time-Based RSU
shares in Thousands
 3 Months Ended
Mar. 29, 2026
$ / shares
shares
Number of Shares  
Beginning balance (in shares) | shares 2,294
Granted (in shares) | shares 57
Vested (in shares) | shares (227)
Cancelled (in shares) | shares (43)
Ending balance (in shares) | shares 2,081
Weighted Average Grant Date Fair Value Per Share  
Beginning Balance (in dollars per share) | $ / shares $ 22.27
Granted (in dollars per share) | $ / shares 21.76
Vested (in dollars per share) | $ / shares 16.47
Cancelled (in dollars per share) | $ / shares 22
Ending Balance (in dollars per share) | $ / shares $ 22.9
v3.26.1
Employee Benefit Plans (Schedule of Performance Shares Activity) (Details) - Performance Shares
shares in Thousands
 3 Months Ended
Mar. 29, 2026
$ / shares
shares
Number of Shares  
Beginning balance (in shares) | shares 805
Granted (in shares) | shares 6
Vested (in shares) | shares (157)
Cancelled (in shares) | shares 0
Ending balance (in shares) | shares 654
Weighted Average Grant Date Fair Value Per Share  
Beginning Balance (in dollars per share) | $ / shares $ 33.64
Granted (in dollars per share) | $ / shares 20.71
Vested (in dollars per share) | $ / shares 20.71
Cancelled (in dollars per share) | $ / shares 0
Ending Balance (in dollars per share) | $ / shares $ 36.65
v3.26.1
Employee Benefit Plans (Schedule of Total Stock-Based Compensation Expense Resulting from Stock Options, RSUs, Time-Based and Performance-Based and the ESPP) (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 29, 2026
Mar. 30, 2025
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Total stock-based compensation $ 8,205 $ 5,496
Cost of revenue    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Total stock-based compensation 501 422
Research and development    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Total stock-based compensation 1,103 592
Sales and marketing    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Total stock-based compensation 2,265 1,313
General and administrative    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Total stock-based compensation $ 4,336 $ 3,169
v3.26.1
Segment Information (Narrative) (Details) - Segment
 3 Months Ended 9 Months Ended
Mar. 29, 2026
Sep. 28, 2025
Segment Reporting [Abstract]    
Number of operating segments 2  
Number of reportable segments 2 3
Segment Reporting, CODM, Individual Title and Position or Group Name [Extensible Enumeration] srt:ChiefExecutiveOfficerMember  
Segment Reporting, CODM, Profit (Loss) Measure, How Used, Description Management measures the performance of each segment based on several metrics, including segment gross profit and segment contribution income (loss). Segment gross profit consists of segment net revenue less the related segment cost of revenue, where segment cost of revenue excludes stock-based compensation expense and amortization of intangible assets, each of which is managed at the corporate level and reported within unallocated indirect costs below. Segment contribution income (loss) consists of segment net revenue less the related segment cost of revenue, research and development and sales and marketing costs, in each case excluding the corporate-level items described below. Segment contribution income (loss) is used, in part, to evaluate the performance of, and allocate resources to, each of the segments. Certain operating expenses are not allocated to segments because they are separately managed at the corporate level.  
v3.26.1
Segment Information (Schedule of Reportable Segments and Reconciliation of Segment Contribution Income to Income (Loss) Before Income Taxes) (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 29, 2026
Mar. 30, 2025
Segment Reporting Information [Line Items]    
Net revenue [1] $ 158,819 $ 162,060
Segment cost of revenue 92,598 105,312
Segment Gross profit 66,221 56,748
Segment Operating expenses 46,290 40,578
Contribution income (loss) 19,931 16,170
Corporate and unallocated costs (18,279) (18,768)
Amortization of intangible assets (1,419) 0
Stock-based compensation expense (8,205) (5,496)
Acquisition related expenses (244) 0
Restructuring and other charges (4,876) (4,742)
Litigation reserves, net (500) 37
Other income, net [2] 1,581 8,171
Loss before income taxes (12,011) (4,628)
Enterprise    
Segment Reporting Information [Line Items]    
Net revenue [1] 83,802 79,191
Segment cost of revenue 39,658 42,530
Segment Gross profit $ 44,144 $ 36,661
Segment Gross margin 52.70% 46.30%
Segment Operating expenses $ 24,087 $ 19,026
Contribution income (loss) $ 20,057 $ 17,635
Segment contribution margin 23.90% 22.30%
Consumer    
Segment Reporting Information [Line Items]    
Net revenue [1] $ 75,017 $ 82,869
Segment cost of revenue 52,940 62,782
Segment Gross profit $ 22,077 $ 20,087
Segment Gross margin 29.40% 24.20%
Segment Operating expenses $ 22,203 $ 21,552
Contribution income (loss) $ (126) $ (1,465)
Segment contribution margin (0.20%) (1.80%)
[1] No individual foreign country represented more than 10% of the Company’s total net revenue in the periods presented.
[2] Amounts included interest income of $2.0 million and $3.3 million for the three months ended March 29, 2026 and March 30, 2025, respectively. Amounts also included gain/(loss), net from derivatives not designated as hedging instruments of $0.4 million and $(1.0) million for the three months ended March 29, 2026, and March 30, 2025, respectively. For the three months ended March 29, 2026, the amount also included $0.6 million of imputed interest expense related to an intangible asset acquisition. For the three months ended March 30, 2025, the amount also included proceeds of $4.7 million from a sale of patents and gain/(loss), net from foreign currency transactions of $1.4 million.
v3.26.1
Segment Information (Schedule of Reportable Segments and Reconciliation of Segment Contribution Income (Loss) to Income (Loss) Before Income Taxes) (Parenthetical) (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 29, 2026
Mar. 30, 2025
Segment Reporting Information [Line Items]    
Interest income $ 2,000 $ 3,300
Gain/(loss), net from derivatives not designated as hedging instruments 400 (1,000)
Imputed interest expense $ 644 (476)
Gain/(loss), net from foreign currency transactions   1,400
Patents    
Segment Reporting Information [Line Items]    
Proceeds from sale of patents   $ 4,700
v3.26.1
Segment Information (Schedule of Net Revenue by Geographic Areas) (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 29, 2026
Mar. 30, 2025
Segment Reporting Information [Line Items]    
Total net revenue [1] $ 158,819 $ 162,060
United States (U.S.)    
Segment Reporting Information [Line Items]    
Total net revenue 102,579 104,039
Americas (excluding U.S.)    
Segment Reporting Information [Line Items]    
Total net revenue 3,284 3,722
EMEA    
Segment Reporting Information [Line Items]    
Total net revenue [1],[2] 33,475 32,129
APAC    
Segment Reporting Information [Line Items]    
Total net revenue [2] $ 19,481 $ 22,170
[1] No individual foreign country represented more than 10% of the Company’s total net revenue in the periods presented.
[2] No individual foreign country represented more than 10% of the Company’s total net revenue in the periods presented.
v3.26.1
Segment Information (Schedule of Net Revenue by Geographic Areas) (Parenthetical) (Details) - Maximum
 3 Months Ended
Mar. 29, 2026
Mar. 30, 2025
Revenues From External Customers And Long Lived Assets [Line Items]    
Percentage of net revenue 10.00% 10.00%
EMEA    
Revenues From External Customers And Long Lived Assets [Line Items]    
Percentage of net revenue 10.00% 10.00%
APAC    
Revenues From External Customers And Long Lived Assets [Line Items]    
Percentage of net revenue 10.00% 10.00%
v3.26.1
Segment Information (Schedule of Long-Lived Asset by Geographic Region) (Details) - USD ($)
$ in Thousands
Mar. 29, 2026
Dec. 31, 2025
Revenues from External Customers and Long-Lived Assets [Line Items]    
Total $ 60,490 $ 62,716
United States (U.S.)    
Revenues from External Customers and Long-Lived Assets [Line Items]    
Total 40,549 42,836
Americas (excluding U.S.)    
Revenues from External Customers and Long-Lived Assets [Line Items]    
Total 4,383 4,594
EMEA    
Revenues from External Customers and Long-Lived Assets [Line Items]    
Total 2,563 2,345
APAC    
Revenues from External Customers and Long-Lived Assets [Line Items]    
Total [1] $ 12,995 $ 12,941
[1] No individual country represented more than 10% of the Company’s total long-lived assets in the periods presented.
v3.26.1
Segment Information (Schedule of Long-Lived Asset by Geographic Region) (Parenthetical) (Details)
 3 Months Ended 12 Months Ended
Mar. 29, 2026
Dec. 31, 2025
Maximum | APAC (excluding Singapore)    
Revenues From External Customers And Long Lived Assets [Line Items]    
Percentage of total long-lived assets owned 10.00% 10.00%
v3.26.1
Fair Value Measurements (Summary of Valuation of Company's Financial Instruments by Various Levels) (Details) - USD ($)
$ in Thousands
Mar. 29, 2026
Dec. 31, 2025
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]    
Assets measured at fair value $ 197,039 $ 220,517
Liabilities measured at fair value 82 729
Quoted market prices in active markets (Level 1)    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]    
Assets measured at fair value 86,491 109,992
Liabilities measured at fair value 0 0
Significant other observable inputs (Level 2)    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]    
Assets measured at fair value 110,548 110,525
Liabilities measured at fair value 82 729
Cash Equivalents    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]    
Assets measured at fair value 83,625 107,070
Cash Equivalents | Quoted market prices in active markets (Level 1)    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]    
Assets measured at fair value 83,625 107,070
Cash Equivalents | Significant other observable inputs (Level 2)    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]    
Assets measured at fair value 0 0
Trading securities    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]    
Assets measured at fair value [1] 2,866 2,922
Trading securities | Quoted market prices in active markets (Level 1)    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]    
Assets measured at fair value [1] 2,866 2,922
Trading securities | Significant other observable inputs (Level 2)    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]    
Assets measured at fair value [1] 0 0
Available-for-sale Investments | U.S. Treasury Securities    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]    
Assets measured at fair value [1] 110,167 110,210
Available-for-sale Investments | U.S. Treasury Securities | Quoted market prices in active markets (Level 1)    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]    
Assets measured at fair value [1] 0 0
Available-for-sale Investments | U.S. Treasury Securities | Significant other observable inputs (Level 2)    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]    
Assets measured at fair value [1] 110,167 110,210
Foreign currency forward contracts    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]    
Assets measured at fair value [2] 381 315
Liabilities measured at fair value [3] 82 729
Foreign currency forward contracts | Quoted market prices in active markets (Level 1)    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]    
Assets measured at fair value [2] 0 0
Liabilities measured at fair value [3] 0 0
Foreign currency forward contracts | Significant other observable inputs (Level 2)    
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]    
Assets measured at fair value [2] 381 315
Liabilities measured at fair value [3] $ 82 $ 729
[1] Included in Short-term investments on the Company’s unaudited condensed consolidated balance sheets.
[2] Included in Prepaid expenses and other current assets on the Company’s unaudited condensed consolidated balance sheets.
[3] Included in Other accrued liabilities on the Company's unaudited condensed consolidated balance sheets.
v3.26.1
Restructuring and Other Charges (Summary of Activity Related to Accrued Restructuring and Other Charges ) (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 29, 2026
Mar. 30, 2025
Restructuring Cost and Reserve [Line Items]    
Beginning balance $ 1,554 $ 664
Additions 4,876 4,742
Cash payments (3,095) (4,267)
Adjustments (15) (22)
Ending balance 3,320 1,117
Employee Termination Charges    
Restructuring Cost and Reserve [Line Items]    
Beginning balance 1,385 664
Additions 4,890 4,698
Cash payments (3,095) (4,259)
Adjustments (15) (7)
Ending balance 3,165 1,096
Lease Contract Termination and Other Charges    
Restructuring Cost and Reserve [Line Items]    
Beginning balance 169 0
Additions (14) 44
Cash payments 0 (8)
Adjustments 0 (15)
Ending balance $ 155 $ 21