0001159167-24-000008 | 10-K | XBRL Viewer

Commitments and Contingencies - Warranty (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 30, 2023	Dec. 31, 2022	Jan. 01, 2022
Activity related to the warranty accrual
Balance at beginning of period	$ 27,379	$ 32,019	$ 24,392
Provision	18,706	22,155	42,430
Warranty usage	(21,460)	(26,795)	(34,803)
Balance at end of period	$ 24,625	$ 27,379	$ 32,019

Leases (Details) $ in Thousands	6 Months Ended	12 Months Ended			24 Months Ended
Leases (Details) $ in Thousands	Jun. 30, 2023 sublease_agreement	Dec. 30, 2023 USD ($) sublease_agreement	Dec. 31, 2022 USD ($)	Jan. 01, 2022 USD ($)	Dec. 30, 2023 sublease_agreement
Leases [Abstract]
Number of sublease agreements \| sublease_agreement	2	3			3
Operating Lease, Weighted Average Discount Rate, Percent		4.17%			4.17%
Operating Lease, Weighted Average Remaining Lease Term		5 years 11 months 12 days			5 years 11 months 12 days
Operating lease cost		$ 6,024	$ 6,622	$ 8,510
Variable lease cost		2,582	3,644	3,633
Sublease Income		(1,276)	0	0
Impairment of right-of-use asset		3,048	2,268	0
Total lease cost		10,378	12,534	12,143
Operating Lease, Payments		7,781	8,187	8,762
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability		$ 683	$ 0	$ 0
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]		Accrued Liabilities, Current	Accrued Liabilities, Current		Accrued Liabilities, Current

Summary of Significant Accounting Policies

12 Months Ended

Dec. 30, 2023

Accounting Policies [Abstract]

Summary of Significant Accounting Policies


2.			Summary of Significant Accounting Policies

Basis of Presentation and Foreign Currency Translation

The accompanying consolidated financial statements include those of iRobot and its subsidiaries, after elimination of all intercompany balances and transactions. iRobot has prepared the accompanying consolidated financial statements in conformity with accounting principles generally accepted in the United States of America ("GAAP"). In addition, certain prior year amounts have been reclassified to conform to the current year presentation.

For the Company's subsidiaries that transact in a functional currency other than the U.S. dollar, assets and liabilities are translated into U.S. dollars at period-end foreign exchange rates. Revenues and expenses are translated into U.S. dollars at the average foreign exchange rates for the period. Translation adjustments are excluded from the determination of net income (loss) and are recorded in accumulated other comprehensive income (loss), a separate component of stockholders' equity.

The Company operates and reports using a 52-53 week fiscal year ending on the Saturday closest to December 31. Accordingly, the Company’s fiscal quarters end on the Saturday that falls closest to the last day of the third month of each quarter. As used in the Annual Report on Form 10-K, "fiscal 2023" refers to the 52-week fiscal year ending December 30, 2023, "fiscal 2022" refers to the 52-week fiscal year ended December 31, 2022, and "fiscal 2021" refers to the 52-week fiscal year ended January 1, 2022.

Liquidity

The accompanying audited consolidated financial statements have been prepared assuming that the Company will continue as a going concern, which contemplates the continuity of operations, realization of assets, and liquidation of liabilities in the normal course of business.

In fiscal 2023, the Company's performance continued to be impacted by lower orders from retailers and distributors largely resulting from a decline in consumer sentiment, and resultant spending, as well as increased pricing competition in the market. During fiscal 2023, the Company's revenue declined 25% from fiscal 2022. The lower revenue has resulted in operating losses of $264.1 million and operating cash outflows of $114.8 million for fiscal 2023. On July 24, 2023, the Company entered into the $200.0 million Term Loan. Total proceeds from the Term Loan were $188.2 million, net of debt issuance costs, which will be used to fund the Company's ongoing operations. As a result, the Company ended fiscal 2023 with cash and cash equivalents of $185.1 million compared to $117.9 million as of December 31, 2022.

Management has considered and assessed its ability to continue as a going concern for the one year from the date that the audited consolidated financial statements are issued. Management's assessment included the preparation of cash flow forecasts taking into account the restructuring actions already implemented in fiscal 2022 and 2023, and maintaining debt covenant compliance. Management considered additional actions within its control that it would implement, if necessary, to maintain liquidity and operations in the ordinary course. On January 29, 2024, following the termination of the Merger Agreement, the Company announced it will implement an operational restructuring plan to more closely align its cost structure with near-term revenue expectations and drive profitability. The 2024 operational restructuring plan is structured to:

•achieve gross margin improvements through a focus on design-to-value and more beneficial terms with the Company's existing and new manufacturing partners;

•lower research and development expenditure by pausing work unrelated to the Company's core floorcare business and shifting to greater reliance on contract manufacturers as it relates to the lower-value commodity engineering work;

•return selling and marketing expenditures to a more normalized level, consistent with industry standards in the consumer products market, by centralizing resources on more limited geographies and consolidate marketing efforts for efficiencies;

•further reduce headcount by approximately 350 employees, which represents approximately 31% of the Company's global workforce as of December 30, 2023. At December 30, 2023, the Company had 1,113 employees. The already implemented reduction in force during fiscal 2023 and 2022 along with the expected 2024 reduction in force will result in a total reduction of approximately 550 employees since the end of fiscal 2021. In connection with this 2024 workforce reduction, the Company expects to record restructuring charges of approximately $12 million to $13 million in the first two quarters of 2024 primarily relating to severance packages and related benefits, with the majority of the restructuring charges anticipated in the first quarter of 2024.

In addition to the reduction of its headcount, the Company signed three sublease agreements during fiscal 2022 and 2023 to sublease portions of its headquarters. iRobot expects these sublease agreements will generate $4.3 million in sublease cash payments in the future over the remaining lease terms. The Company expects to continue to right size its global real estate footprint through additional subleasing at its corporate headquarters and the elimination of offices in smaller, underperforming geographies.

Inventory has consumed a significant amount of cash and the Company continues to manage its inventory level carefully to ensure efficiency in its working capital. As of December 30, 2023, the inventory balance was $152.5 million, or 56 days, a reduction of $132.8 million from fiscal 2022. The Company plans to continue to manage its inventory to a level that better aligns with current run rates and seasonality of the business.

Management estimates such actions, together with the proceeds from the Term Loan, will be sufficient to allow it to maintain liquidity and its operations in the ordinary course for at least 12 months from the issuance of these financial statements. While management estimates such actions and loan proceeds will be sufficient to allow it to maintain liquidity and its operations in the ordinary course for at least 12 months from the issuance of these financial statements, there can be no assurance the Company will generate sufficient future cash flows from operations due to potential factors, including, but not limited to, further inflation, the continued rising interest rates, ongoing recessionary conditions or continued reduced demand for the Company's products due to competition. If the Company is not successful in increasing demand for its products, or if macroeconomic conditions further constrain consumer demand, the Company may continue to experience adverse impacts to revenue and profitability. Additional actions within the Company's control to maintain its liquidity and operations include optimizing its production volumes with contract manufacturers by reducing inventory supply forecast for cancellable purchase orders, further reducing discretionary spending in all areas of the business, decreasing working media spending and realigning resources through ongoing attrition without rehiring activity. In addition, the Company may need additional financing,

including public or private equity or debt financing, to execute on its current or future business strategy, and additional financing may not be available or on terms favorable to the Company.

The consolidated financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classification of liabilities that may result from the outcome of these uncertainties.

Use of Estimates

The preparation of these financial statements in conformity with GAAP requires the Company to make estimates and assumptions that affect the reported amounts of assets and liabilities and revenue and expenses. These estimates and judgments, include but are not limited to, revenue recognition, including variable consideration and other obligations such as sales incentives and product returns; allowance for credit losses; impairment of goodwill and long-lived assets; valuation of non-marketable equity investments; valuation of debt; product warranties; inventory excess and obsolescence; loss contingencies; and accounting for income taxes and related valuation allowances. The Company bases its estimates and assumptions on historical experience, market participant fair value considerations, projected future cash flows, current economic conditions, and various other factors that the Company believes are reasonable under the circumstances. Actual results and outcomes may differ from the Company’s estimates and assumptions.

Cash, Cash Equivalents, and Restricted Cash

The Company considers all highly liquid investments with maturity of three months or less at the time of purchase to be cash and cash equivalents. The Company invests its excess cash primarily in money market funds or demand deposit accounts of major financial institutions. Accordingly, its cash and cash equivalents are subject to minimal market risk. At December 30, 2023 and December 31, 2022, cash and cash equivalents totaled $185.1 million and $117.9 million, respectively. These cash and cash equivalents are carried at cost, which approximates fair value.

The Company's restricted cash balances totaled $2.8 million as of December 30, 2023, $1.0 million of which is included in other current assets on the consolidated balance sheet and is used as collateral deposited for foreign currency exchange derivatives. The remaining $1.8 million is included in other assets on the consolidated balance sheet and is used as collateral for the Company's credit card program and to secure the outstanding letters of credit.

Allowance for Credit Losses

The Company maintains an allowance for credit losses for accounts receivable using an expected loss model that requires the use of forward-looking information to calculate credit loss estimate. The expected loss methodology is developed through consideration of factors including, but not limited to, historical collection experience, current customer credit ratings, customer concentrations, current and future economic and market conditions and age of the receivable. The Company reviews and adjusts the allowance for credit losses on a quarterly basis. Accounts receivable balances are written off against the allowance when the Company determines that the balances are not recoverable. As of December 30, 2023 and December 31, 2022, the Company had an allowance for credit losses of $2.7 million and $4.7 million, respectively. Bad debt expense recorded in general and administrative expenses in the consolidated statements of operations during fiscal 2023 and 2022 was immaterial.

Accounts receivable allowances

Allowance for product returns: The Company records an allowance for product returns based on specific terms and conditions included in the customer agreements or based on historical experience and the Company's expectation of future returns.

Allowance for other credits and incentives: The Company records an allowance related to customer incentives such as discounts, promotions, price protection and other support programs. The allowance is based on specific terms and conditions included in customer agreements, specific programs and sell-through expectations, historical experience and other factors.

Activity related to accounts receivable allowances was as follows (in thousands):


	Fiscal Year Ended
	December 30, 2023		December 31, 2022		January 1, 2022
Allowance for product returns
Balance at beginning of period	$	49,151	$	56,839	$	64,343
Provision	25,948		41,969		61,014
Deduction	(50,449)		(49,657)		(68,518)

Balance at end of period	$	24,650	$	49,151	$	56,839

Allowance for other credits and incentives
Balance at beginning of period	$	106,519	$	101,606	$	142,173
Provision	262,230		269,187		267,821
Deduction	(273,409)		(264,274)		(308,388)

Balance at end of period	$	95,340	$	106,519	$	101,606

Inventory

Inventory primarily consists of finished goods and, to a lesser extent, components, which are purchased from contract manufacturers. Inventory is stated at the lower of cost or net realizable value with cost being determined using the standard cost method, which approximates actual costs determined on the first-in, first-out basis. Inventory costs primarily consist of materials, inbound freight, import duties, and other handling fees. The Company writes down its inventory for estimated obsolescence or excess inventory based upon assumptions around market conditions and estimates of future demand including consideration of product life cycle status, product development plans and current sales levels. Inventory write-downs and losses on purchase commitments are recorded in cost of revenue. During fiscal 2023, the Company recorded adjustments totaling $6.4 million for obsolete or excess inventory. Amounts for fiscal 2022 and 2021 were not significant. Net realizable value is the estimated selling price less estimated costs of completion, disposal and transportation. Adjustments to reduce inventory to net realizable value are recognized in cost of revenue and have not been significant for the periods presented.

Tariff Refunds

In March 2022, the Company was granted a temporary exclusion from Section 301 List 3 tariffs by the United States Trade Representative. This exclusion was subsequently extended until September 30, 2023, and then further extended until May 31, 2024. During fiscal 2022, the Company recognized a benefit of $11.7 million from tariff refunds as a reduction to cost of product revenue related to tariffs paid on products imported after October 12, 2021 and sold during fiscal 2021. The Company received $5.2 million and $26.8 million of the tariff cash refund during fiscal 2023 and 2022, respectively.

Property and Equipment

Property and equipment are recorded at cost and depreciated using the straight-line method over the estimated useful lives as follows:


			Estimated Useful Life
Computer and equipment			2-5 years
Furniture and fixtures			5
Machinery and tooling			2-5

Business applications software			3-7
Leasehold improvements			Lesser of economic benefit period or term of lease

Expenditures for additions and improvements that extend the useful lives of property and equipment are capitalized. Repairs, maintenance costs and losses associated with disposals or retirements are charged to expense as incurred.

Capitalization of Cloud Computing Arrangements

The Company incurs costs to implement cloud computing arrangements that are hosted by third-party vendors. Implementation costs incurred during the application development stage are capitalized until the software is ready for its intended use. The costs are then amortized on a straight-line basis over the term of the associated hosting arrangement and are recognized as an operating expense within the consolidated statements of operations. During fiscal 2023 and 2022, the Company recorded amortization expenses of $2.2 million and $1.8 million, respectively, for these implementation costs. Capitalized costs were $5.0 million and $7.3 million as of December 30, 2023 and December 31, 2022, respectively, and are reported as a component of other assets on the Company's consolidated balance sheets.

Goodwill and Other Long-Lived Assets

Goodwill represents the excess of the purchase price in a business combination over the fair value of the net tangible and intangible assets acquired. Goodwill is not amortized but rather is assessed for impairment at the reporting unit level annually during the fourth quarter of each fiscal year or more frequently if the Company believes indicators of impairment exist. Goodwill impairment, if any, is determined by comparing the reporting unit's fair value to its carrying value. An impairment loss is recognized in an amount equal to the excess of the reporting unit's carrying value over its fair value, up to the amount of goodwill allocated to the reporting unit.

Other long-lived assets primarily consist of property and equipment, operating lease right-of-use assets and intangible assets. The Company periodically evaluates the recoverability of other long-lived assets whenever events and changes in circumstances, such as reductions in demand or significant economic slowdowns in the industry, indicate that the carrying amount of an asset may not be fully recoverable. When indicators of impairment are present, the carrying values of the asset group are evaluated in relation to the future undiscounted cash flows of the underlying business. The net book value of the underlying asset is adjusted to fair value if the sum of the expected discounted cash flows is less than book value. Fair values are based on estimates of market prices and assumptions concerning the amount and timing of estimated future cash flows and assumed discount rates, reflecting varying degrees of perceived risk.

The impairment assessment of goodwill and other long-lived assets involves significant estimates and assumptions, which may be unpredictable and inherently uncertain. These estimates and assumptions include identification of reporting units and asset groups, long-term growth rates, profitability, estimated useful lives, comparable market multiples, and discount rates. Any changes in these assumptions could impact the result of the impairment assessment. There was no impairment of goodwill during fiscal 2023, 2022 and 2021. The Company performed its annual goodwill impairment analysis on October 5, 2023 using an entity valuation which was derived based on the attribution of the agreed-upon purchase price for the Merger, $51.75 per share. However, the Company identified qualitative factors later during the fourth quarter of 2023 which triggered a second impairment assessment. While seeking regulatory approval for the Merger from various governmental entities, in late December 2023, the European Union indicated its intention to issue a Letter of Facts which decreased the probability of the closing of the Merger. The Company then performed a quantitative assessment of goodwill using the market capitalization approach and concluded that the fair value exceeded the carrying value at the triggering event date, which resulted in no impairment to goodwill. In addition, the Company also performed an impairment assessment on its long-lived assets. As a result, during the fourth quarter of 2023, the Company recorded an impairment charge of $4.9 million related to the acquired intangible assets associated with the acquisition of Aeris Cleantec AG ("Aeris"), which is incremental to the impairment charge of $11.1 million recognized during fiscal 2022 on the acquired Aeris intangible assets (see Note 7). During fiscal 2023 and 2022, the Company incurred impairment charges related to the facility restructuring plan discussed within Restructuring Charges in Note 2. There was no impairment of long-lived assets during fiscal 2021.

Strategic Investments

The Company holds non-marketable equity securities as part of its strategic investments portfolio. The Company classifies the majority of these securities as equity securities without readily determinable fair values and measures these investments at cost, less any impairment, adjusted for observable price changes in orderly transactions for identical or similar investments of the same issuer. These investments are valued using significant unobservable inputs or data in an inactive market and the valuation requires the Company's judgment due to the absence of market prices and inherent lack of liquidity. The Company monitors non-marketable equity investments for impairment indicators, such as deterioration in the investee's financial condition and business forecasts and lower valuations in recent or proposed financings. The estimated fair value is based on quantitative and qualitative factors including, but not limited to, subsequent financing activities by the investee and projected discounted cash flows. The Company performs an assessment on a quarterly basis to assess whether triggering events for impairment exist and to identify any observable price changes. The Company recorded impairment charges of $3.9 million in both fiscal 2023 and 2022, related to investments in non-marketable equity securities. Changes in fair value of non-marketable equity investments are recorded in other (expense) income, net on the consolidated statements of operations. At December 30, 2023 and December 31, 2022, the Company's equity securities without readily determinable fair values totaled $11.4 million and $15.1 million, respectively, and are included in other assets on the consolidated balance sheets.

Warranty

The Company generally provides a one-year warranty on all of its products except in countries where a two-year warranty is required against defects in materials and workmanship. The Company's standard warranty provides for repair or replacement of the associated products during the warranty period. The Company records estimated warranty costs in cost of product revenue in the period the related revenue is recognized based on historical experience, expectations of future costs to repair or replace including freight and knowledge of specific product failures outside the Company's historical experience. Actual results could differ from these estimates, which could cause increases or decreases to the warranty reserves in future periods.

Financial Instruments and Hedging Activities

The Company utilizes derivative instruments to partially offset its financial risks to foreign exchange risk. The Company does not engage in speculative hedging activity. In order to account for a derivative instrument as a cash flow hedge, specific criteria must be met, including: (i) ensuring at the inception of the hedge that formal documentation exists for both the hedging relationship and the entity’s risk management objective and strategy for undertaking the hedge and (ii) at the inception of the hedge and on an ongoing basis, the hedging relationship is expected to be highly effective in achieving offsetting changes in fair value attributed to the hedged risk during the period that the hedge is designated. Cash flow hedge amounts that are included in the assessment of hedge effectiveness are deferred in accumulated other comprehensive income (loss) until the hedged item is recognized in earnings. Deferred gains and losses associated with cash flow hedges are recognized as a component of net sales in the same period as the related revenue is recognized. Absent meeting these criteria, changes in fair value are recognized in other (expense) income, net, in the consolidated statements of operations. The Company may also enter into non-designated foreign currency contracts to offset a portion of the foreign currency exchange gains and losses generated by the remeasurement of certain assets and liabilities denominated in non-functional currencies. Changes in fair value are recognized in other (expense) income, net, in the consolidated statements of operations.

Fair Value Measurements

The Company accounts for certain assets and liabilities at fair value. The fair value is established based on a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value. A financial instrument’s level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. These tiers include:

•Level 1 - observable inputs such as quoted prices for identical instruments in active markets;

•Level 2 - observable inputs other than quoted prices in active markets for identical assets and liabilities, quoted prices for identical or similar assets or liabilities in inactive markets, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities; and

•Level 3 - inputs that are generally unobservable and typically reflect management's estimates of assumptions that market participants would use in pricing the asset or liability. The fair values are therefore determined using model-based techniques, including option pricing and discounted cash flow models. Unobservable inputs used in the models are significant to the fair values of the assets and liabilities.

Stock-Based Compensation

The Company accounts for stock-based compensation through recognition of the fair value of the stock-based compensation as a charge against earnings. The Company issues equity incentive awards in the form of restricted stock units ("RSUs") and performance-based restricted stock units ("PSUs"). The fair value for RSUs is based on the closing share price of the Company's common stock on the date of grant. PSUs are aligned to specified performance targets such as financial metrics or the relative returns of the Company's common stock ("TSRs"). The fair value of PSUs aligned to specified performance metrics is determined based on the number of units expected to vest upon achievement of the performance conditions. The fair value for PSUs aligned to the TSR is based on a Monte Carlo simulation model. The Company recognizes stock-based compensation as an expense on a straight-line basis, over the requisite service period. The Company accounts for forfeitures as they occur, rather than applying an estimated forfeiture rate.

Research and Development

Costs incurred in the research and development of the Company’s products are expensed as incurred.

Advertising Expense

Advertising costs are expensed as incurred and included in selling and marketing expenses. During the years ended December 30, 2023, December 31, 2022 and January 1, 2022 advertising expense totaled $87.7 million, $146.6 million and $147.2 million, respectively.

Income Taxes

The Company accounts for its income taxes using the asset and liability method, under which the Company recognizes the amount of taxes payable or refundable for the current year. Deferred tax assets and liabilities are determined based on the difference between the financial statement and tax basis using enacted tax rates in effect in the years in which those temporary differences are expected to be recovered or settled in each jurisdiction. A valuation allowance is provided if, based upon the weight of available evidence, it is more likely than not that the related benefits will not be realized. In assessing the recoverability of its deferred tax assets, the Company evaluates all available evidence, both positive and negative, to assess whether it is more likely than not that sufficient future taxable income will be generated to permit use of existing deferred tax assets in each taxpaying jurisdiction. For any deferred tax asset that exceeds the amount for which it is more likely than not that the Company will realize a benefit, the Company establishes a valuation allowance. A valuation allowance was maintained and or established in the U.S. and in certain foreign jurisdictions during fiscal 2022 and fiscal 2023. The Company expects to continue to record a valuation allowance against these assets until sufficient positive evidence exists to support its reversal. As of December 30, 2023 and December 31, 2022, the Company had a valuation allowance of $178.6 million and $99.4 million, respectively.

The Company recognizes the tax benefit from an uncertain tax position only if it is more likely than not the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. The tax benefits recognized from such positions are then measured based on the largest benefit that has a greater than 50% likelihood of being realized upon settlement. The Company recognizes interest and penalties, if any, related to unrecognized tax benefits in the income tax provision.

Concentration of Credit Risk and Significant Customers

Financial instruments which potentially expose the Company to concentrations of credit risk consist of accounts receivable and cash and cash equivalents. Management believes its credit policies are prudent and reflect normal industry terms and business risk. At December 30, 2023 and December 31, 2022, one customer accounted for 17.3% and 16.6%, respectively, of the Company's accounts receivable balance. For the fiscal years ended December 30, 2023, December 31, 2022, and January 1, 2022, there was one customer that accounted for 10% or more of total revenue, representing 24.0%, 22.6% and 21.8%, of the Company's total revenue, respectively.

The Company maintains its cash in bank deposit accounts and money market funds at high quality financial institutions. The individual balances, at times, may exceed federally insured limits. These deposits may be redeemed upon demand, and management believes that the financial institutions that hold the Company’s cash and cash equivalents are financially sound and, accordingly, minimal credit risk exists with respect to cash and cash equivalents.

As of December 30, 2023, the financial institutions that accounted for 10% or more of total cash and cash equivalents were as follows:


	December 30, 2023	December 31, 2022
Institution A	58%	91%
Institution B	14%	—%
Institution C	14%	—%
Institution D	14%	—%

Concentration of Supplier

The Company relies on third parties for the supply and manufacture of its products, as well as third-party logistics providers for the distribution of its products. In instances where these parties fail to perform their obligations, the Company may be unable to find alternative suppliers or satisfactorily deliver its products to customers on time, if at all. For the fiscal years ended December 30, 2023, December 31, 2022 and January 1, 2022, approximately 79%, 51% and 45%, respectively, of the Company's finished goods purchased during each year were from one vendor.

Restructuring Charges

In August 2022, the Company initiated a restructuring of its operations designed to realign its cost structure with near-term revenue and cash flow generation, advance key strategy priorities, increase efficiencies and improve its profitability going forward, and reduced its workforce by approximately 100 employees, which represented 8% of the Company's global workforce. As a follow-on action to the August 2022 Restructuring Plan and in anticipation that market conditions would remain challenging in 2023, the Company initiated a new restructuring program at the beginning of February 2023 to further reduce its workforce by approximately 85 employees, which represented 7% of the Company's global workforce as of December 31, 2022. During fiscal 2023 and 2022, the Company recorded restructuring charges of $3.6 million and $5.2 million, respectively, for employee severance and benefit costs in the consolidated statement of operations. As of December 30, 2023, the Company had outstanding restructuring liabilities of approximately $0.7 million. The Company expects the remaining balance to be substantially paid during the first quarter of 2024.

In fiscal 2022, the Company approved a plan to market portions of its headquarters with the intent to reduce its global office footprint ("Facility restructuring"). In December 2022, the Company executed an agreement to sublease a portion of the space. As a result of the execution of the sublease agreement, the subleased space was considered as one asset group and the Company determined that indicators of impairment existed related to the right-of-use asset and property and equipment associated with the subleased space. Accordingly, the Company conducted an impairment test to assess whether the fair value of the asset group was lower than its carrying value. The results of the impairment test indicated that the fair value of the asset group was lower than its carrying value. The Company determined the fair value of the asset group using a discounted cash flow method. The assumptions used in the discounted cash flow analysis included projected sublease income over the sublease term and a discount rate based on the weighted-average cost of capital. In June 2023, the Company executed two additional agreements to sublease portions of its headquarters. The Company identified impairment indicators, conducted a similar impairment test using the same methodology as that used in the December 2022 assessment and concluded that the fair value of the asset group was lower than its carrying value. Based on the results of the Company’s assessment during 2023 and 2022, the Company recognized impairment losses of $4.0 million and $3.4 million, of which $3.0 million and $2.3 million was allocated to the right-of-use asset and $1.0 million and $1.1 million was allocated to property and equipment, respectively. These impairment losses are recorded under general and administrative expenses in the consolidated statements of operations for the fiscal years ended December 30, 2023 and December 31, 2022.

Net (loss) income per share:

Basic (loss) income per share is calculated using the Company's weighted-average outstanding common shares. Diluted (loss) income per share is calculated using the Company's weighted-average outstanding common shares including the dilutive effect of stock awards as determined under the treasury stock method.

The following table presents the calculation of both basic and diluted net (loss) income per share (in thousands, except per share amounts):


	Fiscal Year Ended
	December 30, 2023		December 31, 2022		January 1, 2022
Net (loss) income	$	(304,710)	$	(286,295)	$	30,390
Weighted-average shares outstanding	27,676		27,214		27,687
Dilutive effect of employee stock plans	—		—		475
Diluted weighted-average shares outstanding	27,676		27,214		28,162
Basic (loss) income per share	$	(11.01)	$	(10.52)	$	1.10
Diluted (loss) income per share	$	(11.01)	$	(10.52)	$	1.08

Employee stock awards representing approximately 0.8 million, 0.9 million and 0.1 million shares of common stock for the fiscal years ended December 30, 2023, December 31, 2022 and January 1, 2022, respectively, were excluded from the computation of diluted earnings per share as their effect would have been antidilutive.

Recently Adopted Accounting Standards

In October 2021, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2021-08, "Business Combinations - Accounting for Contract Assets and Contract Liabilities from Contracts with Customers." The ASU improves the accounting for acquired revenue contracts with customers by providing specific guidance on recognition of contract asset and liability from revenue contracts in a business combination. The amendments to this ASU are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2022, with early adoption permitted. The Company adopted the standard in the first quarter of 2023 and the adoption had no impact on the Company's consolidated financial statements.

Recently Issued Accounting Standards

In November 2023, the FASB issued ASU No. 2023-07, "Improvements to Reportable Segment Disclosures." This ASU improves reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. In addition, the amendments enhance interim disclosure requirements, clarify circumstances in which an entity can disclose multiple segment measures of profit or loss, provide new segment disclosure requirements for entities with a single reportable segment, and contain other disclosure requirements. This ASU is effective for annual periods beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. Early adoption is also permitted. Adoption of this ASU should be applied retrospectively to all prior periods presented in the financial statements. The Company is currently evaluating the impact that the adoption of this standard will have on the disclosures included in the notes to the consolidated financial statements for fiscal 2024.

In December 2023, the FASB issued ASU No. 2023-09, "Improvements to Income Tax Disclosures." This ASU requires disaggregated information about a reporting entity's effective tax rate reconciliation as well as additional information on income taxes paid. This ASU is effective on a prospective basis for annual periods beginning after December 15, 2024. Early adoption is also permitted. The Company is currently evaluating the impact that the adoption of this standard will have on its consolidated financial statements and disclosures for fiscal 2025.

From time to time, new accounting pronouncements are issued by FASB that are adopted by the Company as of the specified effective date. Unless otherwise discussed, the Company believes that recently issued standards, which are not yet effective, will not have a material impact on the Company’s consolidated financial statements upon adoption.

Revenue Recognition - Performance Obligations (Details) - USD ($) $ in Millions	Dec. 30, 2023	Dec. 31, 2022
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligation, amount		$ 23.2
Expected timing of satisfaction, period		1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-12-31
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligation, amount	$ 18.4
Expected timing of satisfaction, period	1 year

Revenue Recognition Disaggregation of Revenue (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 30, 2023	Dec. 31, 2022	Jan. 01, 2022
Disaggregation of Revenue [Line Items]
Revenues	$ 890,580	$ 1,183,383	$ 1,564,987
UNITED STATES
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	428,531	615,107	754,173
EMEA [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	241,221	270,451	470,475
All Other Regions [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	56,129	88,273	117,567
JAPAN
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	$ 164,699	$ 209,552	$ 222,772

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 924
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479941/924-10-S99-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-5

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 30
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-30

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 42
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-42

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 40
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-40

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 41
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-41

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-4

+ Details

- Definition

Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss).

+ References

+ Details

Stock-Based Compensation - Stock comp expense classification (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 30, 2023	Dec. 31, 2022	Jan. 01, 2022
Stock based compensation expense	$ 36,056	$ 31,905	$ 21,694
Cost of revenue
Stock based compensation expense	3,160	2,194	1,321
Research and development
Stock based compensation expense	12,391	10,473	9,542
Selling and marketing
Stock based compensation expense	5,843	6,358	4,190
General and administrative
Stock based compensation expense	$ 14,662	$ 12,880	$ 6,641

Income Taxes

12 Months Ended

Dec. 30, 2023

Income Tax Disclosure [Abstract]

Income Taxes


15.			Income Taxes

(Loss) income before income taxes was as follows (in thousands):


	Fiscal Year Ended
	December 30, 2023		December 31, 2022		January 1, 2022
Domestic	$	(269,764)	$	(238,685)	$	8,880
Foreign	(23,291)		(22,998)		19,404
(Loss) income before income taxes	$	(293,055)	$	(261,683)	$	28,284

The components of income tax expense (benefit) were as follows (in thousands):


	Fiscal Year Ended
	December 30, 2023		December 31, 2022		January 1, 2022
Current
Federal	$	6,416	$	(1,738)	$	1,045
State	(955)		743		441
Foreign	1,071		7,118		7,019
Total current income tax provision	$	6,532	$	6,123	$	8,505
Deferred
Federal	$	(643)	$	18,991	$	(8,286)
State	64		10,652		(690)
Foreign	5,702		(11,154)		(1,635)
Total deferred income tax provision (benefit)	5,123		18,489		(10,611)
Total income tax provision (benefit)	$	11,655	$	24,612	$	(2,106)

The reconciliation of statutory federal income tax to the income tax expense (benefit) is as follows (in thousands):


	Fiscal Year Ended
	December 30, 2023		December 31, 2022		January 1, 2022
Statutory federal income tax	$	(61,542)	$	(54,953)	$	5,940

State taxes (net of federal benefit)	(8,255)		(6,314)		389
Federal and state credits	(8,268)		(9,473)		(7,620)


Excess tax expenses (benefits) from stock-based compensation	3,220		1,813		(4,160)


Foreign-derived intangible income	—		(1,364)		(3,253)


Executive compensation	1,053		541		1,706
Foreign tax rate differential	1,046		1,416		264
Change in valuation allowance	78,727		91,905		4,691
Non-deductible transaction costs	3,654		2,711		—

Other	2,020		(1,670)		(63)
	$	11,655	$	24,612	$	(2,106)

The components of net deferred tax assets were as follows (in thousands):


	December 30, 2023		December 31, 2022
Deferred tax assets:
Tax credits and net operating loss carryforwards	$	93,302	$	28,240
Capitalized research and development	49,684		48,348
Revenue reserves	14,949		23,049
Accruals and other liabilities	15,589		11,448
Operating lease liabilities	7,785		8,511
Stock-based compensation	4,196		4,868

Interest Expense Limitation	3,312		—
Other	7,530		7,032
Total deferred tax assets	196,347		131,496
Valuation allowance	(178,568)		(99,444)
Total deferred tax assets, net of valuation allowance	17,779		32,052
Deferred tax liabilities:
Intangible assets	1,635		2,597
Operating lease right-of-use assets	4,592		7,862

Other	3,407		6,276
Total deferred tax liabilities	9,634		16,735
Net deferred tax assets	$	8,145	$	15,317

The Company has assessed, on a jurisdictional basis, the realization of its net deferred tax assets, including the ability to carry back net operating losses, the existence of taxable temporary differences, the availability of tax planning strategies and available sources of future taxable income. The Company has concluded that a valuation allowance on its U.S. net deferred tax assets continues to be appropriate. In addition, valuation allowances were established in certain foreign jurisdictions during fiscal 2023 considering cumulative taxable losses in recent years and uncertainty with respect to future taxable income. The change in valuation allowance for all of fiscal 2023 was $79.1 million. As of December 30, 2023, and December 31, 2022, the Company had a valuation allowance of $178.6 million and $99.4 million, respectively. A valuation allowance is a non-cash charge, and does not limit the Company’s ability to utilize its deferred tax assets, including its ability to utilize tax loss and credit carryforward amounts, against future taxable income. The amount of the deferred tax assets considered realizable, and the associated valuation allowance, could be adjusted in a future period if estimates of future taxable income change or if objective negative evidence in the form of cumulative losses is no longer present and additional weight is given to subjective evidence such as projections for future growth.

As of December 30, 2023, the Company has gross federal net operating loss carryforwards of $214.0 million with an indefinite life and foreign net operating loss carryforwards of $44.5 million. As of December 30, 2023, the Company has federal research and development tax credit carryforwards of $12.3 million and state research and development tax credit carryforwards of $20.3 million, which will expire beginning in 2043 and 2031, respectively. Under the Internal Revenue Code and state law, certain substantial changes in the Company's ownership could result in an annual limitation on the amount of these tax carryforwards which can be utilized in future years.

The following table summarized the activity related to the Company's gross unrecognized tax benefits excluding interest and penalties (in thousands):


	Fiscal Year Ended
	December 30, 2023		December 31, 2022		January 1, 2022
Balance at beginning of period	$	9,606	$	9,842	$	8,559
Increase for tax positions related to the current year	539		1,117		914

Increase for tax positions related to prior years	1,888		672		369
Decrease related to settlement with taxing authorities	—		(1,412)		—
Decrease for lapses of statute of limitations	(385)		(613)		—
Balance at end of period	$	11,648	$	9,606	$	9,842

The Company accrues interest and, if applicable, penalties for any uncertain tax positions as a component of income tax expense. As of December 30, 2023 and December 31, 2022, there were $1.8 million and $1.2 million in accrued interest, respectively, and there were no material accrued penalties. Significant judgment is required in evaluating its uncertain tax positions and determining its provision for income taxes. The Company does not expect a significant change in the amount of unrecognized tax benefits within the next 12 months. If all of the Company's unrecognized tax benefits as of December 30, 2023 were to become recognizable in the future, it would affect its effective tax rate by $10.1 million, inclusive of interest and penalties.

The Company conducts business in a number of jurisdictions and, as such is subject to taxation in the United States (federal and state) and foreign jurisdictions. The statute of limitations for examinations by the Internal Revenue Service (the "IRS") and state tax authorities is closed for fiscal years prior to fiscal 2017. All federal and state carryforward attributes generated to date, including fiscal 2017 and earlier, may still be adjusted upon examination by the federal or state tax authorities if they either have been or will be used in a period for which the statute of limitations is still open.

As of December 30, 2023, the Company continues to assert that the unremitted foreign earnings, as well as the capital in its foreign subsidiaries, are permanently reinvested and therefore no deferred taxes or withholding taxes have been provided. At December 30, 2023, the Company has unremitted foreign earnings for which any unrecognized deferred tax liability on these unremitted earnings would be immaterial.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//740/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-14

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-21

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 270
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482526/740-270-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 17
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-17

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.5.Q1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-2

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482603/740-30-50-2

+ Details

Goodwill and Other Intangible Assets - Intangible Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 30, 2023	Dec. 31, 2022	Jan. 01, 2022
Finite-Lived Intangible Assets, Net [Abstract]
Cost	$ 68,059	$ 74,273
Accumulated Amortization	63,015	63,013
Net	5,044	11,260
Amortization	6,532	15,361	$ 2,300
Completed technology
Finite-Lived Intangible Assets, Net [Abstract]
Cost	26,900	33,909
Accumulated Amortization	26,900	28,383
Net	0	5,526
Tradename
Finite-Lived Intangible Assets, Net [Abstract]
Cost	100	100
Accumulated Amortization	100	100
Net	0	0
Customer relationships
Finite-Lived Intangible Assets, Net [Abstract]
Cost	10,121	10,104
Accumulated Amortization	5,077	4,370
Net	5,044	5,734
Reacquired distribution rights
Finite-Lived Intangible Assets, Net [Abstract]
Cost	30,684	29,915
Accumulated Amortization	30,684	29,915
Net	0	0
Non-competition agreements
Finite-Lived Intangible Assets, Net [Abstract]
Cost	254	245
Accumulated Amortization	254	245
Net	$ 0	$ 0

Stock-Based Compensation - Narrative (Details) $ / shares in Units, $ in Thousands			12 Months Ended
	May 27, 2022 shares	May 21, 2020 shares	Dec. 30, 2023 USD ($) plan $ / shares shares	Dec. 31, 2022 USD ($)	Jan. 01, 2022 USD ($)	May 23, 2018 shares
Number of plans \| plan			3
Number of shares authorized (in shares) \| shares	3,395,000	2,495,000				1,750,000
Number of additional shares authorized (in shares) \| shares	900,000	745,000
Number of shares available for grant \| shares			822,528
Stock based compensation expense			$ 36,056	$ 31,905	$ 21,694
Share price (in dollars per share) \| $ / shares			$ 38.70
Restricted Stock Units (RSUs)
Compensation cost not yet recognized			$ 55,300
Remaining recognition period			1 year 11 months 15 days
Outstanding, aggregate intrinsic value			$ 52,400
Outstanding, weighted average remaining contractual term			1 year 3 days
Restricted Stock Units (RSUs) \| Minimum
Vesting term			three
Restricted Stock Units (RSUs) \| Maximum
Vesting term			four year
Performance Based Restricted Stock Units
Compensation cost not yet recognized			$ 1,400
Remaining recognition period			6 months 3 days
Outstanding, aggregate intrinsic value			$ 6,000
Outstanding, weighted average remaining contractual term			6 months 3 days
Performance period (in years)			3 years
Performance Based Restricted Stock Units \| Minimum
Award vesting rights percentage			0.00%
Performance Based Restricted Stock Units \| Maximum
Award vesting rights percentage			200.00%

Fair Value Measurements (Details) - USD ($) $ in Thousands	12 Months Ended
Fair Value Measurements (Details) - USD ($) $ in Thousands	Dec. 30, 2023	Dec. 31, 2022	Jul. 24, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Asset, Statement Of Financial Position, Extensible Enumeration, Not Disclosed Flag	Derivative instruments (Note 10)	Derivative instruments (Note 10)
Liabilities:
Derivative instruments (Note 10)	$ 7,276	$ 7,310
Secured Debt \| Credit Agreement \| Line of Credit
Liabilities:
Term loan (unpaid principal of $200,000) (Note 9)	201,501		$ 200,000
Principal balance			$ 200,000
Recurring \| Level 1
Assets:
Derivative instruments (Note 10)	0	0
Total assets measured at fair value	120,418	79,005
Liabilities:
Derivative instruments (Note 10)	0	0
Total liabilities measured at fair value	0	0
Recurring \| Level 1 \| Term Loan
Liabilities:
Term loan (unpaid principal of $200,000) (Note 9)	0
Recurring \| Level 1 \| Money market funds
Assets:
Money market funds	117,652	79,005
Recurring \| Level 1 \| Restricted Cash
Assets:
Restricted cash, current (Note 2)	1,000
Restricted cash, non-current (Note 2)	1,766
Recurring \| Level 2
Assets:
Derivative instruments (Note 10)	3,999	5,619
Total assets measured at fair value	3,999	5,619
Liabilities:
Derivative instruments (Note 10)	7,643	13,793
Total liabilities measured at fair value	7,643	13,793
Recurring \| Level 2 \| Term Loan
Liabilities:
Term loan (unpaid principal of $200,000) (Note 9)	0
Recurring \| Level 2 \| Money market funds
Assets:
Money market funds	0	0
Recurring \| Level 2 \| Restricted Cash
Assets:
Restricted cash, current (Note 2)	0
Restricted cash, non-current (Note 2)	0
Recurring \| Level 3
Assets:
Derivative instruments (Note 10)	0	0
Total assets measured at fair value	0	0
Liabilities:
Derivative instruments (Note 10)	0	0
Total liabilities measured at fair value	201,501	0
Recurring \| Level 3 \| Term Loan
Liabilities:
Term loan (unpaid principal of $200,000) (Note 9)	201,501
Recurring \| Level 3 \| Money market funds
Assets:
Money market funds	0	$ 0
Recurring \| Level 3 \| Restricted Cash
Assets:
Restricted cash, current (Note 2)	0
Restricted cash, non-current (Note 2)	$ 0

Audit Information	12 Months Ended
Audit Information	Dec. 30, 2023
Auditor Information [Abstract]
Auditor Name	PricewaterhouseCoopers LLP
Auditor Location	Boston, Massachusetts
Auditor Firm ID	238

Accrued Expenses (Details) - USD ($) $ in Thousands	Dec. 30, 2023	Dec. 31, 2022
Components of accrued expenses
Accrued warranty	$ 24,625	$ 27,379
Accrued compensation and benefits	15,487	22,158
Accrued returns and sales incentives	12,897	1,312
Accrued taxes payable	8,927	12,753
Derivative liability	7,276	7,310
Accrued manufacturing and logistics cost	5,462	970
Current portion of operating lease liabilities	5,216	5,415
Accrued merger related liabilities	4,721	10,895
Accrued interest	4,498	0
Accrued other	8,890	10,767
Accrued expenses, total	$ 97,999	$ 98,959

Commitments and Contingencies (Tables)

12 Months Ended

Dec. 30, 2023

Commitments and Contingencies Disclosure [Abstract]

Activity related to the warranty accrual was as follows (in thousands):


	Fiscal Year Ended
	December 30, 2023		December 31, 2022		January 1, 2022
Balance at beginning of period	$	27,379	$	32,019	$	24,392

Provision	18,706		22,155		42,430
Warranty claims	(21,460)		(26,795)		(34,803)
Balance at end of period	$	24,625	$	27,379	$	32,019

Subsequent Events (Details) $ in Millions			3 Months Ended
Subsequent Events (Details) $ in Millions	Jan. 31, 2024 USD ($)	Jan. 29, 2024 USD ($) employee	Mar. 30, 2024 USD ($)	Jun. 29, 2024 USD ($)	Jul. 24, 2023 USD ($)
Secured Debt \| Credit Agreement \| Line of Credit
Subsequent Event [Line Items]
Principal balance					$ 200.0
Subsequent Event
Subsequent Event [Line Items]
Expected number of positions eliminated \| employee		350
Expected percentage of global workforce eliminated		31.00%
Subsequent Event \| Minimum \| Forecast
Subsequent Event [Line Items]
Expected restructuring costs				$ 12.0
Subsequent Event \| Maximum \| Forecast
Subsequent Event [Line Items]
Expected restructuring costs				$ 13.0
Subsequent Event \| Secured Debt \| Credit Agreement \| Line of Credit
Subsequent Event [Line Items]
Repayment of a portion of long-term debt	$ 35.0
Amount set aside to be used for future repayments of loan	40.0
Amazon, Inc. \| Subsequent Event
Subsequent Event [Line Items]
Proceeds from termination		$ 94.0
Professional fees incurred	18.8		$ 18.8
Amazon, Inc. \| Subsequent Event \| Secured Debt \| Credit Agreement \| Line of Credit
Subsequent Event [Line Items]
Amount set aside to be used for future repayments of loan	40.0
Principal balance	175.8
Consolidated core assets	$ 200.0

Fair Value Measurements - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 30, 2023	Dec. 31, 2022	Jan. 01, 2022
Fair Value Disclosures [Abstract]
Impairment loss on intangible assets	$ 4,900	$ 11,100
Impairment of right-of-use asset	3,048	2,268	$ 0
Property and equipment impairment	1,000	1,100
Fair value of intangible assets	0	5,500
Fair value of right-of-use asset	1,500	1,600
Fair value of property and equipment	0	600
Impairment loss related to investments in non-marketable equity securities	$ 3,900	$ 3,900

Accrued Expenses (Tables)

12 Months Ended

Dec. 30, 2023

Accrued Liabilities, Current [Abstract]

Components of accrued expenses

Accrued expenses consist of the following (in thousands):


	December 30, 2023		December 31, 2022
Accrued warranty	$	24,625	$	27,379
Accrued compensation and benefits	15,487		22,158
Accrued returns and sales incentives	12,897		1,312
Accrued taxes payable	8,927		12,753
Derivative liability	7,276		7,310
Accrued manufacturing and logistics cost	5,462		970
Current portion of operating lease liabilities	5,216		5,415
Accrued merger related liabilities	4,721		10,895
Accrued interest	4,498		—



Accrued other	8,890		10,767
	$	97,999	$	98,959

Revenue Recognition Significant Judgments (Details) - USD ($) $ in Millions	Dec. 30, 2023	Dec. 31, 2022
Revenue from Contract with Customer [Abstract]
Refund liability, product returns	$ 24.6	$ 49.2
Refund liability, other credits and incentives	$ 95.3	$ 106.5

Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Retained Earnings (Accumulated Deficit)	Accumulated Other Comprehensive Income (Loss)
Beginning balance, shares (in shares) at Jan. 02, 2021		28,184,000
Beginning balance at Jan. 02, 2021	$ 804,434	$ 282	$ 205,256	$ 599,389	$ (493)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock under employee stock plans (in shares)		143,000
Issuance of common stock under employee stock plans	6,719	$ 1	6,718
Vesting of restricted stock units (in shares)		369,000
Vesting of restricted stock units	0	$ 3	(3)
Stock-based compensation	21,694		21,694
Stock withheld to cover tax withholdings requirements upon restricted stock vesting (in shares)		(45,000)
Stock withheld to cover tax withholdings requirements upon restricted stock vesting	(5,161)	$ 0	(5,161)
Other comprehensive income	8,583				8,583
Directors' deferred compensation	$ 64		64
Stock repurchases (in shares)	(1,645,172)	(1,645,000)
Stock repurchases	$ (150,000)	$ (16)	(5,915)	(144,069)
Net (loss) income	30,390			30,390
Ending balance, shares (in shares) at Jan. 01, 2022		27,006,000
Ending balance at Jan. 01, 2022	716,723	$ 270	222,653	485,710	8,090
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock under employee stock plans (in shares)		126,000
Issuance of common stock under employee stock plans	4,719	$ 1	4,718
Vesting of restricted stock units (in shares)		321,000
Vesting of restricted stock units	0	$ 3	(3)
Stock-based compensation	31,905		31,905
Stock withheld to cover tax withholdings requirements upon restricted stock vesting (in shares)		(30,000)
Stock withheld to cover tax withholdings requirements upon restricted stock vesting	(1,775)	$ 0	(1,775)
Other comprehensive income	10,439				10,439
Net (loss) income	$ (286,295)			(286,295)
Ending balance, shares (in shares) at Dec. 31, 2022	27,423,000	27,423,000
Ending balance at Dec. 31, 2022	$ 475,716	$ 274	257,498	199,415	18,529
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock under employee stock plans (in shares)		9,000
Issuance of common stock under employee stock plans	9	$ 0	9
Vesting of restricted stock units (in shares)		601,000
Vesting of restricted stock units	0	$ 6	(6)
Stock-based compensation	36,056		36,056
Stock withheld to cover tax withholdings requirements upon restricted stock vesting (in shares)		(69,000)
Stock withheld to cover tax withholdings requirements upon restricted stock vesting	(2,802)	$ 0	(2,802)
Other comprehensive income	(7,782)				(7,782)
Net (loss) income	$ (304,710)			(304,710)
Ending balance, shares (in shares) at Dec. 30, 2023	27,964,000	27,964,000
Ending balance at Dec. 30, 2023	$ 196,487	$ 280	$ 290,755	$ (105,295)	$ 10,747

Summary of Significant Accounting Policies - Property and Equipment (Details)	12 Months Ended
	Dec. 30, 2023
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Estimated Useful Life	5 years
Leasehold improvements
Property, Plant and Equipment [Line Items]
Capital Leases and Leasehold Improvements Terms	Lesser of economic benefit period or term of lease
Minimum \| Computer and equipment
Property, Plant and Equipment [Line Items]
Estimated Useful Life	2 years
Minimum \| Machinery and tooling
Property, Plant and Equipment [Line Items]
Estimated Useful Life	2 years
Minimum \| Business applications software
Property, Plant and Equipment [Line Items]
Estimated Useful Life	3 years
Maximum \| Computer and equipment
Property, Plant and Equipment [Line Items]
Estimated Useful Life	5 years
Maximum \| Machinery and tooling
Property, Plant and Equipment [Line Items]
Estimated Useful Life	5 years
Maximum \| Business applications software
Property, Plant and Equipment [Line Items]
Estimated Useful Life	7 years

Subsequent Events

12 Months Ended

Dec. 30, 2023

Subsequent Events [Abstract]

Subsequent Events


17.			Subsequent Events

Termination of Merger Agreement

As previously disclosed, on August 4, 2022, the Company entered into the Original Merger Agreement with Amazon, and Merger Sub, providing for, among other things, the merger of Merger Sub with and into iRobot, with the Company surviving the merger as a wholly owned subsidiary of Parent. On July 24, 2023, iRobot, Amazon and Merger Sub entered into an amendment to the Original Merger Agreement.

On January 28, 2024, the Company and Amazon mutually agreed to terminate the Merger Agreement and entered into the Termination Agreement effective as of such date. The termination of the Merger Agreement was approved by the Company's Board of Directors. In accordance with the terms of the Termination Agreement, Amazon made a cash payment to the Company in the previously agreed amount of $94.0 million on January 29, 2024. The Company then made a payment of $18.8 million for professional fees incurred in connection with the Transactions.

Term Loan

As a result of the termination of the Merger Agreement and receipt of the Parent Termination Fee of $94.0 million from Amazon, the Company used $35.0 million of such Parent Termination Fee to repay a portion of the Term Loan, and the remaining $40.0 million of the Parent Termination Fee will be set aside in a restricted account to be used for future repayments of the Term Loan subject to limited rights of the Company to utilize such amounts for the purchase of inventory in the third quarters of 2024 and 2025. The $35.0 million repayment was applied to the principal, interest and the 1.4x minimum guaranteed return, reducing the principal balance of the loan to $175.8 million. With the termination of the Merger Agreement and the $35.0 million repayment, the applicable minimum guaranteed return now ranges between 1.4x and 1.7x of the principal and the consolidated core assets financial covenant is reduced to $200.0 million.

Restructuring

In conjunction with the termination of the Merger Agreement, the Company's then-Chief Executive Officer stepped down from employment with the Company and from his position as chairman of the Board of Directors of the Company ("Board"), effective January 28, 2024. The Board appointed Glen D. Weinstein, the Company's then Executive Vice President and Chief Legal Officer, as Interim Chief Executive Officer while a search is conducted for a permanent CEO.

On January 29, 2024, following the termination of the Merger Agreement, the Company announced it will implement an operational restructuring plan that is expected to include an overall reduction of approximately 350 employees, which represents 31% of the Company’s global workforce as of December 30, 2023. In connection with this workforce reduction, the Company expects to record restructuring charges of approximately $12 million to $13 million in the first two quarters of 2024 primarily relating to severance packages and related benefits, with the majority of the restructuring charges anticipated in the first quarter of 2024. These estimates of the charges that the Company expects to incur, and the timing thereof, are subject to a number of assumptions and actual results may differ. The Company may also incur additional costs not currently contemplated due to events that may occur as a result of, or that are associated with, the actions described above.

The Company considers these subsequent events as a triggering event and will perform an impairment assessment of goodwill and other long-lived assets in connection with its preparation of financial statements for the first quarter of 2024.

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 30, 2023	Dec. 31, 2022	Jan. 01, 2022
Cash flows from operating activities:
Net (loss) income	$ (304,710)	$ (286,295)	$ 30,390
Adjustments to reconcile net (loss) income to net cash used in operating activities:
Depreciation and amortization	32,791	47,869	33,309
Gain (Loss) on Investments	(3,910)	(19,718)	30,063
Stock-based compensation	36,056	31,905	21,694
Change in fair value of term loan	5,904	0	0
Debt issuance costs expensed under fair value option	11,837	0	0
Deferred income taxes, net	6,563	18,799	(6,934)
Other	(17,694)	(1,003)	5,940
Changes in operating assets and liabilities — (use) source, excluding effects of acquisition
Accounts receivable	(11,748)	94,750	10,290
Inventory	125,710	49,399	(151,193)
Other assets	13,941	52,029	(19,868)
Accounts payable	(4,604)	(73,598)	82,289
Accrued expenses and other liabilities	(12,749)	(43,594)	(7,824)
Net cash used in operating activities	(114,793)	(90,021)	(31,970)
Cash flows from investing activities:
Additions of property and equipment	(2,862)	(12,325)	(29,928)
Purchase of investments	(233)	(3,150)	(10,811)
Cash paid for business acquisition, net of cash acquired	0	0	(71,357)
Sales and maturities of investments	0	17,723	63,976
Net cash (used in) provided by investing activities	(3,095)	2,248	(48,120)
Cash flows from financing activities:
Proceeds from employee stock plans	9	4,719	6,719
Income tax withholding payment associated with restricted stock vesting	(2,802)	(1,775)	(5,161)
Stock repurchases	0	0	(150,000)
Proceeds from term loan	200,000	0	0
Payment of debt issuance costs	(11,837)	0	0
Net cash provided by (used in) financing activities	185,370	2,944	(148,442)
Effect of exchange rate changes on cash, cash equivalents and restricted cash	2,456	1,321	(2,646)
Net increase (decrease) in cash, cash equivalents and restricted cash	69,938	(83,508)	(231,178)
Cash, cash equivalents and restricted cash at beginning of period	117,949	201,457	432,635
Cash, cash equivalents and restricted cash, at end of period	187,887	117,949	201,457
Supplemental disclosure of cash flow information
Cash paid for income taxes, net of refunds	6,117	8,489	20,375
Cash paid for interest	6,522	1,714	0
Cash, cash equivalents and restricted cash, at end of period
Cash and cash equivalents	185,121	117,949	201,457
Restricted cash, current (included in other current assets)	1,000	0	0
Restricted cash, non-current (included in other assets)	1,766	0	0
Cash, cash equivalents and restricted cash, at end of period	$ 187,887	$ 117,949	$ 201,457

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 30, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Preferred stock, shares authorized (in shares)	5,000,000	5,000,000
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	100,000,000	100,000,000
Common stock, shares issued (in shares)	27,964,000	27,423,000
Common stock, shares outstanding (in shares)	27,964,000	27,423,000

Industry Segment, Geographic Information and Significant Customers (Details) $ in Thousands	12 Months Ended
	Dec. 30, 2023 USD ($) segment	Dec. 31, 2022 USD ($)	Jan. 01, 2022 USD ($)
Revenues from External Customers and Long-Lived Assets [Line Items]
Number of operating segments \| segment	1
Revenue	$ 890,580	$ 1,183,383	$ 1,564,987
Customer Concentration Risk \| Revenue \| Amazon
Revenues from External Customers and Long-Lived Assets [Line Items]
Concentration risk percentage	24.00%	22.60%	21.80%
Non-US \| Geographic Concentration Risk \| Revenue
Revenues from External Customers and Long-Lived Assets [Line Items]
Concentration risk percentage	51.90%	48.00%	51.80%
Domestic
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	$ 428,531	$ 615,107	$ 754,173
International
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	$ 462,049	$ 568,276	$ 810,814

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Dec. 30, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Summary of Significant Accounting Policies - Concentration Of Credit Risk, Cash and Cash Equivalents (Details) - Cash and Cash Equivalents - Financial Institution Concentration Risk	12 Months Ended
	Dec. 30, 2023	Dec. 31, 2022
Institution A
Concentration Risk [Line Items]
Concentration risk percentage	58.00%	91.00%
Institution B
Concentration Risk [Line Items]
Concentration risk percentage	14.00%	0.00%
Institution C
Concentration Risk [Line Items]
Concentration risk percentage	14.00%	0.00%
Institution D
Concentration Risk [Line Items]
Concentration risk percentage	14.00%	0.00%

Debt - Additional Information (Details) $ in Thousands, ¥ in Millions				12 Months Ended
	Jan. 31, 2024 USD ($)	Jan. 29, 2024 USD ($)	Jul. 24, 2023 USD ($)	Dec. 30, 2023 USD ($)	Dec. 31, 2022 USD ($)	Jan. 01, 2022 USD ($)	Dec. 30, 2023 JPY (¥)
Line of Credit Facility [Line Items]
Debt issuance costs expensed under fair value option				$ 11,837	$ 0	$ 0
Interest expense				10,600
Accrued interest				4,498	$ 0
Letters of credit outstanding				400
Line of credit, maximum amount \| ¥							¥ 250.0
Amazon, Inc. \| Subsequent Event
Line of Credit Facility [Line Items]
Proceeds from termination		$ 94,000
Secured Debt \| Line of Credit \| Credit Agreement
Line of Credit Facility [Line Items]
Principal balance			$ 200,000
Proceeds from Debt, Net of Issuance Costs			$ 188,200
Debt Issuance Costs, Gross				$ 11,800
Debt Instrument, Interest Rate, Paid In Kind			2.50%
Debt Instrument, Consolidated Core Assets, Minimum			$ 250,000
Secured Debt \| Line of Credit \| Credit Agreement \| Subsequent Event
Line of Credit Facility [Line Items]
Repayment of a portion of long-term debt	$ 35,000
Amount set aside to be used for future repayments of loan	40,000
Secured Debt \| Line of Credit \| Credit Agreement \| Amazon, Inc. \| Subsequent Event
Line of Credit Facility [Line Items]
Principal balance	175,800
Amount set aside to be used for future repayments of loan	40,000
Consolidated core assets	200,000
Debt Instrument, Proforma Consolidated Core Assets	$ 275,000
Secured Debt \| Line of Credit \| Credit Agreement \| Term Secured Overnight Financing Rate (SOFR)
Line of Credit Facility [Line Items]
Borrowing rate			9.00%
Secured Debt \| Line of Credit \| Credit Agreement \| Base Rate
Line of Credit Facility [Line Items]
Borrowing rate			8.00%
Revolving Credit Facility \| Line of Credit
Line of Credit Facility [Line Items]
Maximum amount available for borrowing under credit facility			$ 100,000

Property and Equipment

12 Months Ended

Dec. 30, 2023

Property, Plant and Equipment [Abstract]

Property and Equipment


6.			Property and Equipment

Property and equipment consists of the following (in thousands):


	December 30, 2023		December 31, 2022
Computer and equipment	$	10,713	$	12,750
Furniture and fixtures	6,954		7,843
Machinery and tooling	93,387		95,332
Leasehold improvements	26,544		29,594
Business applications software	15,956		16,018
Other	5,734		5,223
Subtotal	159,288		166,760
Less: accumulated depreciation	118,893		105,851
Property and equipment, net	$	40,395	$	60,909

As of December 30, 2023 and December 31, 2022, the net book value of capitalized internal-use software costs was $1.4 million and $2.8 million, respectively, which are included within business applications software.

Depreciation expense for the years ended December 30, 2023, December 31, 2022 and January 1, 2022 was $26.3 million, $32.5 million, and $31.1 million, respectively, which included amortization expense of $1.4 million, $2.2 million and $2.3 million, respectively, for capitalized internal-use software.

Summary of Significant Accounting Policies (Policies)

12 Months Ended

Dec. 30, 2023

Accounting Policies [Abstract]

Basis of Presentation

Basis of Presentation and Foreign Currency Translation

Fiscal Year-End

Use of Estimates

Cash and Cash Equivalents

Cash, Cash Equivalents, and Restricted Cash

Credit Losses

Allowance for Credit Losses

Accounts receivable allowances

Inventory

Warranty

Property and Equipment

Property and equipment are recorded at cost and depreciated using the straight-line method over the estimated useful lives as follows:


			Estimated Useful Life
Computer and equipment			2-5 years
Furniture and fixtures			5
Machinery and tooling			2-5

Business applications software			3-7
Leasehold improvements			Lesser of economic benefit period or term of lease

Goodwill and Other Long-Lived Assets

Other Assets

Strategic Investments

Financial Instruments and Hedging Activities

Fair Value Measurements

•Level 1 - observable inputs such as quoted prices for identical instruments in active markets;

Stock-Based Compensation

Research and Development

Costs incurred in the research and development of the Company’s products are expensed as incurred.

Advertising Expense

Advertising costs are expensed as incurred and included in selling and marketing expenses.

Income Taxes

Concentration of Credit Risk and Significant Customers

As of December 30, 2023, the financial institutions that accounted for 10% or more of total cash and cash equivalents were as follows:


	December 30, 2023	December 31, 2022
Institution A	58%	91%
Institution B	14%	—%
Institution C	14%	—%
Institution D	14%	—%

Concentration of Supplier

Net Income Per Share

Net (loss) income per share:

Recent Accounting Pronouncements

Recently Adopted Accounting Standards

Recently Issued Accounting Standards

Revenue Recognition

The Company primarily derives its revenue from the sale of consumer robots and accessories. The Company sells products directly to consumers through online stores and indirectly through resellers and distributors. Revenue is recognized upon transfer of control of promised products or services to customers in an amount that reflects the consideration the Company expects to receive in exchange for those products or services. Revenue is allocated to distinct performance obligations and is recognized net of allowances for returns and other credits and incentives. Revenue is recognized only to the extent that it is probable that a significant reversal of revenue will not occur and when collection is considered probable. Taxes collected from customers, which are subsequently remitted to governmental authorities, are excluded from revenue. Shipping and handling expenses are considered fulfillment activities and are expensed as incurred.

Frequently, the Company’s contracts with customers contain multiple promised goods or services. Such contracts may include any of the following, the consumer robot, downloadable app, cloud services, accessories on demand, potential future unspecified software upgrades, premium customer care and extended warranties. For these contracts, the Company accounts for the promises separately as individual performance obligations if they are distinct. Performance obligations are considered distinct if they are both capable of being distinct and distinct within the context of the contract. In determining whether performance obligations meet the criteria for being distinct, the Company considers a number of factors, such as the degree of interrelation and interdependence between obligations, and whether or not the good or service significantly modifies or transforms another good or service in the contract. The Company’s consumer robots are highly dependent on, and interrelated with, the embedded software and cannot function without the software. As such, the consumer robots are accounted for as a single performance obligation. The Company has determined that the app, cloud services and potential future unspecified software upgrades represent one performance obligation to the customer to enhance the functionality and interaction with the robot (referred to collectively as "Cloud Services"). Other services and support are considered distinct and therefore are treated as separate performance obligations.

The Company allocates revenue to all distinct performance obligations based on their relative stand-alone selling prices ("SSPs"). When available, the Company uses observable prices to determine SSPs. When observable prices are not available, SSPs are established that reflect the Company’s best estimates of what the selling prices of the performance obligations would be if they were sold regularly on a stand-alone basis. The Company’s process for estimating SSPs without observable prices considers multiple factors that may vary depending upon the facts and circumstances related to each performance obligation including market data or the estimated cost of providing the products or services. The transaction price allocated to the robot is recognized as revenue at a point in time when control is transferred, generally as title and risk of loss pass, and when collection is considered probable. The transaction price allocated to the Cloud Services is deferred and recognized on a straight-line basis over the estimated term of the Cloud Services. Other services and support are recognized over their service periods. For contracts with a duration of greater than one year, the transaction price allocated to performance obligations that are unsatisfied as of December 30, 2023 and December 31, 2022 was $18.4 million and $23.2 million, respectively.

The Company’s products generally carry a one-year or two-year limited warranty that promises customers that delivered products are as specified. The Company does not consider these assurance-type warranties as a separate performance obligation and therefore, the Company accounts for such warranties under ASC 460, "Guarantees." For contracts with the right to upgrade to a new product after a specified period of time, the Company accounts for this trade-in right as a guarantee obligation under ASC 460. The total transaction price is reduced by the full amount of the trade-in right's fair value and the remaining transaction price is allocated between the performance obligations within the contract.

The Company provides limited rights of returns for direct-to-consumer sales generated through its online stores and certain resellers and distributors. The Company records an allowance for product returns based on specific terms and conditions included in the customer agreements or based on historical experience and the Company's expectation of future returns. In addition, the Company may provide other credits or incentives which are accounted for as variable consideration when estimating the amount of revenue to recognize. Where appropriate, these estimates take into consideration relevant factors such as the Company’s historical experience, current contractual requirements, specific known market events and forecasted inventory level in the channels. Overall, these reserves reflect the Company’s best estimates, and the actual amounts of consideration ultimately received may differ from the Company’s estimates. Returns and credits are estimated at the time of sale and updated at the end of each reporting period as additional information becomes available. As of December 30, 2023, the Company had reserves for product returns of $24.6 million and other credits and incentives of $95.3 million. As of December 31, 2022, the Company had reserves for product returns of $49.2 million and other credits and incentives of $106.5 million. The Company regularly evaluates the adequacy of its estimates for product returns and other credits and incentives. Future market conditions and product transitions may require the Company to take action to change such programs and related estimates. When the variables used to estimate these reserves change, or if actual results differ significantly from the estimates, the Company increases or reduces revenue to reflect the impact.

Income Taxes - Components of Income Tax Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 30, 2023	Dec. 31, 2022	Jan. 01, 2022
Current
Federal	$ 6,416	$ (1,738)	$ 1,045
State	(955)	743	441
Foreign	1,071	7,118	7,019
Total current income tax provision	6,532	6,123	8,505
Deferred
Federal	(643)	18,991	(8,286)
State	64	10,652	(690)
Foreign	5,702	(11,154)	(1,635)
Total deferred income tax provision (benefit)	5,123	18,489	(10,611)
Total income tax provision (benefit)	$ 11,655	$ 24,612	$ (2,106)

Goodwill and Other Intangible Assets (Tables)

12 Months Ended

Dec. 30, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of goodwill

The following table summarizes the activity in the carrying amount of goodwill and intangible assets for fiscal 2023 and 2022 (in thousands):


	Goodwill		Intangible assets
Balance as of January 1, 2022	$	173,292	$	28,410
Purchase accounting adjustments	(583)		—
Amortization	—		(15,361)
Effect of foreign currency translation	(4,985)		(1,789)
Balance as of December 31, 2022	167,724		11,260

Amortization	—		(6,532)
Effect of foreign currency translation	7,381		316
Balance as of December 30, 2023	$	175,105	$	5,044

Other intangible assets

Intangible assets consisted of the following (in thousands):


	December 30, 2023				December 31, 2022
	Cost		Accumulated Amortization		Net		Cost		Accumulated Amortization		Net
Completed technology	$	26,900	$	26,900	$	—	$	33,909	$	28,383	$	5,526
Tradename	100		100		—		100		100		—
Customer relationships	10,121		5,077		5,044		10,104		4,370		5,734
Reacquired distribution rights	30,684		30,684		—		29,915		29,915		—
Non-competition agreements	254		254		—		245		245		—
Total	$	68,059	$	63,015	$	5,044	$	74,273	$	63,013	$	11,260

Estimated future amortization expense related to current intangible assets

The estimated future amortization expense related to current intangible assets in each of the five succeeding fiscal years is expected to be as follows (in thousands):


	Operating Expenses
2024	$	707
2025	707
2026	707
2027	707
2028	707
Thereafter	1,509
Total	$	5,044

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 24
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482548/350-20-55-24

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
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-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
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-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
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-Name Accounting Standards Codification
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-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef
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-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1A

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-2

+ Details

Income Taxes - Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 30, 2023	Dec. 31, 2022	Jan. 01, 2022
Company's adjustments to its uncertain tax position
Balance at beginning of period	$ 9,606	$ 9,842	$ 8,559
Increase for tax positions related to the current year	539	1,117	914
Increase for tax positions related to prior years	1,888	672	369
Decrease related to settlement with taxing authorities	0	(1,412)	0
Decrease for lapses of statute of limitations	(385)	(613)	0
Balance at end of period	$ 11,648	$ 9,606	$ 9,842

Debt

12 Months Ended

Dec. 30, 2023

Debt Disclosure [Abstract]

Debt


9.			Debt

Term Loan

On July 24, 2023, the Company entered into a Credit Agreement (the "Credit Agreement") by and among the Company, as borrower, each lender from time to time party thereto and TCG Senior Funding L.L.C., an affiliate of The Carlyle Group, as administrative agent and collateral agent, providing for a $200.0 million senior secured term loan credit facility (the "Term Loan"). Total proceeds from the Term Loan were $188.2 million, net of $11.8 million of debt issuance costs. The Term Loan matures on July 24, 2026.

The Term Loan bears interest at a rate per annum equal to, at the Company's option, (i) a rate based on term SOFR plus a credit spread adjustment plus a 9.00% spread or (ii) a rate based on the base rate plus a rate adjustment plus an 8.00% spread. A portion of each spread equal to 2.5% is paid-in-kind by capitalizing such portion into principal of the Term Loan. In the event of repayment, prepayment or acceleration of all or any portion of the Term Loan, the Company is required to pay to the lenders an additional amount which represents a minimum guaranteed return on the Term Loan that ranges between 1.30x and 1.75x of the principal in accordance with the provisions within the Credit Agreement. The minimum guaranteed return range is based on the date on which it is paid. The Credit Agreement provides for mandatory prepayments of borrowings under certain circumstances, including non-ordinary course asset sales and incurrence of other indebtedness, subject to customary exceptions.

The Credit Agreement contains customary affirmative covenants, including financial statement reporting requirements and delivery of compliance certificates. The Credit Agreement also contains customary negative covenants that limit the Company's and its subsidiaries' ability to, among other things, grant or incur liens, incur additional indebtedness, make certain restricted investments or payments, including payment of dividends on its capital stock and payments on certain permitted indebtedness, enter into certain mergers and acquisitions or engage in certain asset sales, subject in each case to certain exceptions. In addition, the Credit Agreement contains a financial covenant that the Company will not permit its consolidated core assets (comprising cash, accounts receivable and inventory), measured on the last day of each fiscal month, to be less than $250.0 million which amount is subject to increase or decrease upon certain triggers related to the payment or non-payment of any termination fees under the Merger Agreement (or fees in lieu of such termination fees) and the occurrence or non-occurrence of the Merger. As of December 30, 2023, the Company was in compliance with the covenants under the Term Loan.

As a result of the termination of the Merger Agreement and receipt of the Parent Termination Fee of $94.0 million from Amazon on January 29, 2024, $35.0 million of such Parent Termination Fee was used immediately to repay a portion of the Term Loan, and $40.0 million of the Parent Termination Fee will be set aside in a restricted account to be used for future repayments of the Term Loan subject to limited rights of the Company to utilize such amounts for the purchase of inventory in the third quarters of 2024 and 2025. The $35.0 million repayment was applied to the principal, interest and the 1.4x minimum guaranteed return, reducing the principal balance of the loan to $175.8 million. With the termination of the Merger Agreement and the $35.0 million repayment, the applicable minimum guaranteed return now ranges between 1.4x and 1.7x of the principal and the consolidated core assets financial covenant is reduced to $200.0 million. To access the $40.0 million of restricted cash for inventory purchases, the Company must certify to its lenders that the Company has proforma consolidated core assets of $275.0 million and no default or event of default under the Credit Agreement.

The Credit Agreement also contains customary events of default (subject to certain exceptions, thresholds and grace periods), such as the failure to pay obligations when due, breach of certain covenants, including the financial covenant, cross-default or cross-acceleration of certain indebtedness, bankruptcy-related defaults, judgment defaults, and the occurrence of certain change of control events involving the Company. The occurrence of an event of default may result in the termination of the Credit Agreement and acceleration of repayment obligations with respect to any outstanding loans or letters of credit under the Term Loan.

The obligations under the Term Loan are guaranteed by the Company and certain of its subsidiaries located in the United States, United Kingdom and Japan. The Company is also required to add additional subsidiaries to guarantee the obligations under the Term Loan as a result of the termination of the Merger Agreement. In addition, the obligations under the Term Loan are secured by a first priority lien on substantially all tangible and intangible property of the Company and the guarantors and pledges of the equity of certain subsidiaries, in each case subject to certain exceptions, limitations and exclusions from the collateral.

Upon issuance, the Company elected to account for the Term Loan under the fair value option. The primary reason for electing the fair value option is for simplification and cost-benefit considerations of accounting for the Term Loan at fair value in its entirety versus bifurcation of the embedded features. The fair value of the Term Loan was determined using a discounted cash flow model which represents Level 3 measurements. The significant assumptions used in the discounted cash flow model include the amount and timing of future cash flows, expected interest rate volatility and the discount rate.

Under the fair value election, debt issuance costs are expensed as incurred, and debt liability is subsequently valued at fair market value, including interest paid-in-kind, during each reporting period until its settlement. During the fiscal 2023, the Company incurred debt issuance costs of $11.8 million, which are reflected in other expense, net, in the consolidated statement of operations.

The Company's outstanding debt as of December 30, 2023 was as follows (in thousands):


	Classification	December 30, 2023
Term Loan at fair value at issuance		$	200,000
Change in fair value of term loan due to instrument-specific credit risk	Other comprehensive income (loss)	(4,403)
Remaining changes in fair value	Other (expense) income, net	5,904
Term Loan at fair value as of December 30, 2023		$	201,501

During fiscal 2023, the Company recorded $10.6 million of interest expense in other (expense) income, net on the consolidated statement of operations related to the quarterly cash interest, $4.5 million of which is unpaid and included in accrued expenses on the consolidated balance sheet as of December 30, 2023.

Credit Facility

In conjunction with the Term Loan on July 24, 2023, the Company terminated its prior $100.0 million secured revolving line of credit which would otherwise have expired in September 2024.

Lines of Credit

The Company has a cash collateralized line for letters of credit with Bank of America, N.A. As of December 30, 2023, the Company had letters of credit outstanding of $0.4 million.

The Company has an unsecured guarantee line of credit with Mizuho, Bank Ltd., available to fund import tax payments up to an aggregate outstanding amount of 250.0 million Japanese Yen. As of December 30, 2023, the Company had no outstanding balance under the guarantee line of credit.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

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+ Details

Pay vs Performance Disclosure - USD ($) $ in Thousands	12 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Dec. 30, 2023	Dec. 31, 2022	Jan. 01, 2022
Pay vs Performance Disclosure
Net (loss) income	$ (304,710)	$ (286,295)	$ 30,390

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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+ Details

Derivative Instruments and Hedging Activities - Gain (Loss) on Derivatives (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 30, 2023	Dec. 31, 2022	Jan. 01, 2022
Derivative Instruments, Gain (Loss) [Line Items]
Revenue	$ 890,580	$ 1,183,383	$ 1,564,987
Other income, net
Derivative Instruments, Gain (Loss) [Line Items]
(Loss) gain recognized in income	(121)	2,951	(9,779)
Foreign currency forward contracts \| Cash flow hedge
Derivative Instruments, Gain (Loss) [Line Items]
Foreign currency forward contracts	2,978	43,735
Foreign currency forward contracts			31,363
Amount of gain reclassified from AOCI into earnings	$ 24,373	$ 27,285	$ 4,493

- Definition

+ References

+ Details

Employee Benefits

12 Months Ended

Dec. 30, 2023

Retirement Benefits [Abstract]

Employee Benefits


14.			Employee Benefits

The Company sponsors a retirement plan under Section 401(k) of the Internal Revenue Code (the "Retirement Plan"). Eligible US employees may make tax-deferred contributions, and the Company, at its sole discretion, and subject to the limits prescribed by the IRS, may make either a nonelective contribution on behalf of all eligible employees or a matching contribution on behalf of all plan participants.

The Company elected to make a matching contribution of approximately $3.3 million, $3.9 million and $3.8 million for the plan years ended December 30, 2023, December 31, 2022 and January 1, 2022, respectively. The employer contribution represents a matching contribution at a rate of 50% of each employee’s first six percent contribution. Accordingly, each employee participating is entitled up to a maximum of three percent of his or her eligible annual payroll.

- Definition

The entire disclosure for retirement benefits.

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-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (l)
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-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

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-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Publisher FASB
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-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480266/715-60-50-3

+ Details

Income Taxes - Income (Loss) Before Provision For Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 30, 2023	Dec. 31, 2022	Jan. 01, 2022
Income Tax Disclosure [Abstract]
Domestic	$ (269,764)	$ (238,685)	$ 8,880
Foreign	(23,291)	(22,998)	19,404
(Loss) income before income taxes	$ (293,055)	$ (261,683)	$ 28,284

- Definition

Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(11))
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-Subparagraph (b)
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+ Details

Goodwill and Other Intangible Assets

12 Months Ended

Dec. 30, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets


7.			Goodwill and Other Intangible Assets

The following table summarizes the activity in the carrying amount of goodwill and intangible assets for fiscal 2023 and 2022 (in thousands):


	Goodwill		Intangible assets
Balance as of January 1, 2022	$	173,292	$	28,410
Purchase accounting adjustments	(583)		—
Amortization	—		(15,361)
Effect of foreign currency translation	(4,985)		(1,789)
Balance as of December 31, 2022	167,724		11,260

Amortization	—		(6,532)
Effect of foreign currency translation	7,381		316
Balance as of December 30, 2023	$	175,105	$	5,044

Intangible assets consisted of the following (in thousands):


	December 30, 2023				December 31, 2022
	Cost		Accumulated Amortization		Net		Cost		Accumulated Amortization		Net
Completed technology	$	26,900	$	26,900	$	—	$	33,909	$	28,383	$	5,526
Tradename	100		100		—		100		100		—
Customer relationships	10,121		5,077		5,044		10,104		4,370		5,734
Reacquired distribution rights	30,684		30,684		—		29,915		29,915		—
Non-competition agreements	254		254		—		245		245		—
Total	$	68,059	$	63,015	$	5,044	$	74,273	$	63,013	$	11,260

Amortization expense related to acquired intangible assets was $6.5 million, $15.4 million and $2.3 million for the fiscal years ended December 30, 2023, December 31, 2022 and January 1, 2022, respectively.

During fiscal 2023 and 2022, the Company evaluated its long-lived assets, including intangible assets, for indicators of impairment. As a result, the Company determined indicators of impairment existed for the asset group associated with the

Company's acquisition of Aeris, including reduction of the asset group's forecasts as well as its negative operating cash flows and operating losses. The Company concluded the fair value of the asset group associated with the Company's acquisition of Aeris was below its carrying value. Therefore, the Company recorded $4.9 million and $11.1 million impairment losses on these intangible assets in fiscal 2023 and 2022, respectively. These impairment losses are recorded in amortization of acquired intangible assets under operating expenses on the consolidated statements of operations.

The estimated future amortization expense related to current intangible assets in each of the five succeeding fiscal years is expected to be as follows (in thousands):


	Operating Expenses
2024	$	707
2025	707
2026	707
2027	707
2028	707
Thereafter	1,509
Total	$	5,044

Income Taxes (Tables)

12 Months Ended

Dec. 30, 2023

Income Tax Disclosure [Abstract]

Schedule of income (loss) before provision for income taxes

(Loss) income before income taxes was as follows (in thousands):


	Fiscal Year Ended
	December 30, 2023		December 31, 2022		January 1, 2022
Domestic	$	(269,764)	$	(238,685)	$	8,880
Foreign	(23,291)		(22,998)		19,404
(Loss) income before income taxes	$	(293,055)	$	(261,683)	$	28,284

Components of income tax expense

The components of income tax expense (benefit) were as follows (in thousands):


	Fiscal Year Ended
	December 30, 2023		December 31, 2022		January 1, 2022
Current
Federal	$	6,416	$	(1,738)	$	1,045
State	(955)		743		441
Foreign	1,071		7,118		7,019
Total current income tax provision	$	6,532	$	6,123	$	8,505
Deferred
Federal	$	(643)	$	18,991	$	(8,286)
State	64		10,652		(690)
Foreign	5,702		(11,154)		(1,635)
Total deferred income tax provision (benefit)	5,123		18,489		(10,611)
Total income tax provision (benefit)	$	11,655	$	24,612	$	(2,106)

Reconciliation of the expected tax (benefit) expense

The reconciliation of statutory federal income tax to the income tax expense (benefit) is as follows (in thousands):


	Fiscal Year Ended
	December 30, 2023		December 31, 2022		January 1, 2022
Statutory federal income tax	$	(61,542)	$	(54,953)	$	5,940

State taxes (net of federal benefit)	(8,255)		(6,314)		389
Federal and state credits	(8,268)		(9,473)		(7,620)


Excess tax expenses (benefits) from stock-based compensation	3,220		1,813		(4,160)


Foreign-derived intangible income	—		(1,364)		(3,253)


Executive compensation	1,053		541		1,706
Foreign tax rate differential	1,046		1,416		264
Change in valuation allowance	78,727		91,905		4,691
Non-deductible transaction costs	3,654		2,711		—

Other	2,020		(1,670)		(63)
	$	11,655	$	24,612	$	(2,106)

Components of net deferred tax assets

The components of net deferred tax assets were as follows (in thousands):


	December 30, 2023		December 31, 2022
Deferred tax assets:
Tax credits and net operating loss carryforwards	$	93,302	$	28,240
Capitalized research and development	49,684		48,348
Revenue reserves	14,949		23,049
Accruals and other liabilities	15,589		11,448
Operating lease liabilities	7,785		8,511
Stock-based compensation	4,196		4,868

Interest Expense Limitation	3,312		—
Other	7,530		7,032
Total deferred tax assets	196,347		131,496
Valuation allowance	(178,568)		(99,444)
Total deferred tax assets, net of valuation allowance	17,779		32,052
Deferred tax liabilities:
Intangible assets	1,635		2,597
Operating lease right-of-use assets	4,592		7,862

Other	3,407		6,276
Total deferred tax liabilities	9,634		16,735
Net deferred tax assets	$	8,145	$	15,317

Schedule of adjustments to uncertain tax position

The following table summarized the activity related to the Company's gross unrecognized tax benefits excluding interest and penalties (in thousands):


	Fiscal Year Ended
	December 30, 2023		December 31, 2022		January 1, 2022
Balance at beginning of period	$	9,606	$	9,842	$	8,559
Increase for tax positions related to the current year	539		1,117		914

Increase for tax positions related to prior years	1,888		672		369
Decrease related to settlement with taxing authorities	—		(1,412)		—
Decrease for lapses of statute of limitations	(385)		(613)		—
Balance at end of period	$	11,648	$	9,606	$	9,842

Consolidated Statements of Comprehensive (Loss) Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 30, 2023	Dec. 31, 2022	Jan. 01, 2022
Statement of Comprehensive Income [Abstract]
Net (loss) income	$ (304,710)	$ (286,295)	$ 30,390
Other comprehensive (loss) income, net of tax:
Net foreign currency translation adjustments	9,210	(5,853)	(11,730)
Net unrealized gains on cash flow hedges	2,978	39,578	23,715
Net gains on cash flow hedge reclassified into earnings	(24,373)	(23,286)	(3,398)
Net unrealized losses on marketable securities	0	0	(4)
Change in fair value of term loan due to instrument-specific credit risk	4,403	0	0
Total comprehensive (loss) income	$ (312,492)	$ (275,856)	$ 38,973

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

+ Details

Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 30, 2023	Dec. 31, 2022	Jan. 01, 2022
Income Statement [Abstract]
Revenue	$ 890,580	$ 1,183,383	$ 1,564,987
Cost of product revenue	693,217	830,478	1,013,465
Amortization of acquired intangible assets	1,166	2,812	1,223
Total cost of revenue	694,383	833,290	1,014,688
Gross profit	196,197	350,093	550,299
Operating expenses:
Research and development	144,087	166,508	161,331
Selling and marketing	201,676	293,307	289,848
General and administrative	109,148	118,112	99,190
Amortization of acquired intangible assets	5,366	12,549	1,030
Total operating expenses	460,277	590,476	551,399
Operating loss	(264,080)	(240,383)	(1,100)
Other (expense) income, net	(28,975)	(21,300)	29,384
(Loss) income before income taxes	(293,055)	(261,683)	28,284
Income tax expense (benefit)	11,655	24,612	(2,106)
Net (loss) income	$ (304,710)	$ (286,295)	$ 30,390
Net (loss) income per share:
Basic income per share (in usd per share)	$ (11.01)	$ (10.52)	$ 1.10
Diluted income per share (in usd per share)	$ (11.01)	$ (10.52)	$ 1.08
Number of shares used in per share calculations:
Basic	27,676	27,214	27,687
Diluted	27,676	27,214	28,162

Leases - Maturity of Operating Lease Liability (Details) - USD ($) $ in Thousands	Dec. 30, 2023	Dec. 31, 2022
Operating Lease Payments
2024	$ 6,287
2025	6,092
2026	6,055
2027	5,909
2028	5,474
Thereafter	7,574
Total minimum lease payments	37,391
Less: imputed interest	4,566
Present value of future minimum lease payments	32,825
Current portion of operating lease liabilities	5,216	$ 5,415
Operating lease liabilities	27,609	$ 33,247
Sublease Payments
2024	(1,115)
2025	(556)
2026	(572)
2027	(589)
2028	(607)
Thereafter	(840)
Total minimum lease payments	(4,279)
Net
2024	5,172
2025	5,536
2026	5,483
2027	5,320
2028	4,867
Thereafter	6,734
Total minimum lease payments	$ 33,112

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 30, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 185,121	$ 117,949
Accounts receivable, net	79,387	66,025
Inventory	152,469	285,250
Other current assets	48,513	59,076
Total current assets	465,490	528,300
Property and equipment, net	40,395	60,909
Operating lease right-of-use assets	19,642	26,084
Deferred tax assets	8,512	16,248
Goodwill	175,105	167,724
Intangible assets, net	5,044	11,260
Other assets	19,510	24,918
Total assets	733,698	835,443
Current liabilities:
Accounts payable	178,318	184,016
Accrued expenses	97,999	98,959
Deferred revenue and customer advances	10,830	13,208
Total current liabilities	287,147	296,183
Term loan	201,501	0
Operating lease liabilities	27,609	33,247
Other long-term liabilities	20,954	30,297
Total long-term liabilities	250,064	63,544
Total liabilities	537,211	359,727
Commitments and contingencies (Note 13)
Preferred stock, 5,000 shares authorized and none outstanding	0	0
Common stock, $0.01 par value; 100,000 shares authorized; 27,964 and 27,423 shares issued and outstanding, respectively	280	274
Additional paid-in capital	290,755	257,498
(Accumulated deficit) retained earnings	(105,295)	199,415
Accumulated other comprehensive income	10,747	18,529
Total stockholders’ equity	196,487	475,716
Total liabilities and stockholders’ equity	$ 733,698	$ 835,443

Leases

12 Months Ended

Dec. 30, 2023

Leases [Abstract]

Leases


4.			Leases

The Company's leasing arrangements primarily consist of operating leases for its facilities which include corporate, sales and marketing and research and development offices and equipment under various non-cancelable lease arrangements. The operating leases expire at various dates through 2030. The Company currently has three sublease agreements for space at its headquarters. For leases with terms greater than 12 months, the Company records the related right-of-use asset and lease obligation at the present value of lease payments over the term. Leases with an initial term of 12 months or less are not recorded on the balance sheet. Lease expense is recognized on a straight-line basis over the lease term. The Company's leases typically include rental escalation clauses, renewal options and/or termination options that are factored into the determination of lease payments when appropriate. The Company does not separate lease and non-lease components of contracts and excludes all variable lease payments from the measurement of right-of-use assets and lease liabilities. The Company's variable lease payments generally include usage based nonlease components. The Company's lease agreements do not contain any residual value guarantees or restrictive covenants.

The Company's existing leases do not provide a readily determinable implicit rate. Therefore, the Company estimates its incremental borrowing rate to discount the lease payments. At December 30, 2023, the Company's weighted average discount rate was 4.17%, while the weighted average remaining lease term was 5.95 years.

The components of lease expense were as follows (in thousands):


	December 30, 2023		December 31, 2022		January 1, 2022
Operating lease cost	$	6,024	$	6,622	$	8,510
Variable lease cost	2,582		3,644		3,633
Sublease income	(1,276)		—		—
Right-of-use asset impairment	3,048		2,268		—
Total lease cost	$	10,378	$	12,534	$	12,143

Supplemental cash flow information related to leases was as follows (in thousands):


	December 30, 2023		December 31, 2022		January 1, 2022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	7,781	$	8,187	$	8,762
Right-of-use assets obtained in exchange for lease obligations:
Operating leases	$	683	$	—	$	—

Maturities of operating lease liabilities and sublease payments were as follows as of December 30, 2023 (in thousands):


	Operating Lease Payments		Sublease Payments		Net
2024	$	6,287	$	(1,115)	$	5,172
2025	6,092		(556)		5,536
2026	6,055		(572)		5,483
2027	5,909		(589)		5,320
2028	5,474		(607)		4,867
Thereafter	7,574		(840)		6,734
Total minimum lease payments	$	37,391	$	(4,279)	$	33,112
Less: imputed interest	4,566
Present value of future minimum lease payments	$	32,825
Less: current portion of operating lease liabilities (Note 8)	5,216
Long-term lease liabilities	$	27,609

Stock-Based Compensation

12 Months Ended

Dec. 30, 2023

Share-Based Payment Arrangement [Abstract]

Stock-Based Compensation


12.			Stock-Based Compensation

The Company has awards and options outstanding under three stock incentive plans: the 2005 Stock Option and Incentive Plan (the "2005 Plan"), the 2015 Stock Option and Incentive Plan (the "2015 Plan") and the 2018 Stock Option and Incentive Plan (the "2018 Plan" and together with the 2005 Plan and the 2015 Plan, the "Plans"). The 2018 Plan is the only one of the three plans under which new awards may currently be granted. Under the 2018 Plan, which became effective on May 23, 2018, 1,750,000 shares were initially reserved for issuance in the form of incentive stock options, non-qualified stock options, stock appreciation rights, restricted stock awards, restricted stock units, unrestricted stock awards, cash-based awards, and dividend equivalent rights. On May 21, 2020, the stockholders approved an amendment to the 2018 Plan to increase the number of aggregate shares authorized for issuance to 2,495,000 shares, an increase of 745,000 shares. On May 27, 2022, the stockholders approved an amendment to the 2018 Plan to increase the number of aggregate shares authorized for issuance to 3,395,000 shares, an increase of 900,000 shares. Stock awards returned to the Plans, with the exception of those issued under the 2005 Plan, as a result of their expiration, cancellation or termination are automatically made available for issuance under the 2018 Plan. As of December 30, 2023, there were 822,528 shares available for future grant under the 2018 Plan. The Company recognized $36.1 million, $31.9 million and $21.7 million of stock-based compensation expense during the fiscal years ended December 30, 2023, December 31, 2022, and January 1, 2022, respectively.

Stock-based compensation breaks down by expense classification as follows (in thousands):


	Fiscal Year Ended
	December 30, 2023		December 31, 2022		January 1, 2022
Cost of revenue	$	3,160	$	2,194	$	1,321
Research and development	12,391		10,473		9,542
Selling and marketing	5,843		6,358		4,190
General and administrative	14,662		12,880		6,641
Total	$	36,056	$	31,905	$	21,694

Time-based Restricted Stock Units

Time-based restricted stock units entitle the holder to a specific number of shares of common stock upon vesting, typically over a three or four year period. As of December 30, 2023, the unamortized compensation costs associated with restricted stock units was $55.3 million with a weighted-average remaining recognition period of 1.96 years.

The following table summarizes the time-based restricted stock unit activity for fiscal 2023, 2022 and 2021:


	Number of Shares Underlying Restricted Stock	Weighted Average Grant Date Fair Value
Outstanding at January 2, 2021	894,033	$	68.97
Granted	523,496	88.73
Vested	(314,427)	71.36
Forfeited	(99,886)	75.82
Outstanding at January 1, 2022	1,003,216	77.85
Granted	638,554	54.26
Vested	(321,443)	78.10
Forfeited	(187,227)	73.45
Outstanding at December 31, 2022	1,133,100	65.21
Granted	1,001,090	42.10
Vested	(567,696)	61.99
Forfeited	(212,895)	61.24
Outstanding at December 30, 2023	1,353,599	$	50.09

The aggregate intrinsic value of outstanding time-based restricted stock units at December 30, 2023 was $52.4 million based on the Company's closing stock price on December 30, 2023 of $38.70, with a weighted average remaining contractual term of 1.01 years.

Performance-Based Restricted Stock Units

The Company grants performance-based restricted stock units ("PSUs") to certain of its employees that vest on the satisfaction of service and performance or market conditions. The performance conditions are based on certain financial performance targets at the end of a three year performance period, and therefore awards generally cliff vest at the end of a three year performance period. The market conditions are based on the relative TSRs compared to a certain index for each performance period, and therefore awards vest at the end of each performance period. The number of shares actually vested may range from 0% to 200% of the target number of PSUs granted based on the actual achievement of the conditions.

The unamortized fair value as of December 30, 2023 associated with performance based restricted stock units was $1.4 million with a weighted-average remaining recognition period of 0.51 years.

The following table summarizes the performance-based restricted stock unit activity for fiscal 2023, 2022 and 2021:


	Number of Shares Underlying PSU	Weighted Average Grant Date Fair Value
Outstanding at January 2, 2021	229,652	$	66.41
Granted	134,127	94.74
Vested	(55,503)	68.41
Forfeited	(23,154)	71.68
Outstanding at January 1, 2022	285,122	78.92
Granted	153,676	57.94
Vested	—	—
Forfeited	(71,616)	97.31
Outstanding at December 31, 2022	367,182	66.55
Granted	—	—
Vested	(32,669)	49.30
Forfeited	(180,620)	54.07
Outstanding at December 30, 2023	153,893	$	84.87

The aggregate intrinsic value of outstanding PSUs was $6.0 million based on the Company's closing stock price on December 30, 2023 of $38.70 with a weighted average remaining contractual term of 0.51 years.

Derivative Instruments and Hedging Activities - Fair Value of Derivatives (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Apr. 01, 2023	Oct. 01, 2022	Dec. 30, 2023	Dec. 31, 2022
Derivatives, Fair Value [Line Items]
Proceeds from derivative instruments		$ 51,700
Derivative, Fair Value, Net [Abstract]
Derivative liability			$ 7,276	$ 7,310
Derivatives designated as cash flow hedges:
Derivatives, Fair Value [Line Items]
Derivative, Term of Contract			1 year
Derivatives not designated as hedging instruments:
Derivatives, Fair Value [Line Items]
Derivative, Notional Amount			$ 252,000	242,000
Foreign currency forward contracts
Derivative, Fair Value, Net [Abstract]
Derivative, Notional Amount, Terminated Contracts	$ 151,700
Payments For Derivative Instruments, Operating Activities	$ 2,500
Foreign currency forward contracts \| Derivatives not designated as hedging instruments:
Derivative, Fair Value, Net [Abstract]
Derivative Asset			2,929	4,288
Derivative liability			4,586	3,249
Cash flow hedge \| Derivatives designated as cash flow hedges:
Derivatives, Fair Value [Line Items]
Derivative, Notional Amount			114,400	362,900
Cash flow hedge \| Foreign currency forward contracts \| Derivatives designated as cash flow hedges: \| Other current assets
Derivative, Fair Value, Net [Abstract]
Derivative Asset			1,070	0
Cash flow hedge \| Foreign currency forward contracts \| Derivatives designated as cash flow hedges: \| Other assets
Derivative, Fair Value, Net [Abstract]
Derivative Asset			0	1,331
Cash flow hedge \| Foreign currency forward contracts \| Derivatives designated as cash flow hedges: \| Accrued expenses
Derivative, Fair Value, Net [Abstract]
Derivative liability			2,690	4,061
Cash flow hedge \| Foreign currency forward contracts \| Derivatives designated as cash flow hedges: \| Long-term liabilities
Derivative, Fair Value, Net [Abstract]
Derivative liability			$ 367	$ 6,483
Maximum \| Derivatives not designated as hedging instruments:
Derivatives, Fair Value [Line Items]
Derivative, Term of Contract			12 months
Maximum \| Cash flow hedge \| Derivatives designated as cash flow hedges:
Derivatives, Fair Value [Line Items]
Derivative, Term of Contract			3 years

Cover Page - USD ($) $ in Billions	12 Months Ended
Cover Page - USD ($) $ in Billions	Dec. 30, 2023	Jan. 26, 2024
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 30, 2023
Current Fiscal Year End Date	--12-30
Document Transition Report	false
Entity File Number	001-36414
Entity Registrant Name	iROBOT CORPORATION
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	77-0259335
Entity Address, Address Line One	8 Crosby Drive
Entity Address, City or Town	Bedford
Entity Address, State or Province	MA
Entity Address, Postal Zip Code	01730
City Area Code	781
Local Phone Number	430-3000
Title of 12(b) Security	Common Stock, $0.01 par value
Trading Symbol	IRBT
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction [Flag]	false
Entity Shell Company	false
Entity Public Float	$ 1.2
Entity Common Stock, Shares Outstanding		27,964,564
Documents Incorporated by Reference	The registrant intends to file a definitive Proxy Statement pursuant to Regulation 14A within 120 days of the end of the fiscal year ended December 30, 2023. Portions of such Proxy Statement are incorporated by reference into Part III of this Form 10-K.
Entity Central Index Key	0001159167
Amendment Flag	false
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	FY

Goodwill and Other Intangible Assets - Future Amortization Expense (Details) - USD ($) $ in Thousands	Dec. 30, 2023	Dec. 31, 2022
Finite-Lived Intangible Assets [Line Items]
Net	$ 5,044	$ 11,260
Operating Expense [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Amortization Expense, Next Twelve Months	707
Finite-Lived Intangible Assets, Amortization Expense, Year Two	707
Finite-Lived Intangible Assets, Amortization Expense, Year Three	707
Finite-Lived Intangible Assets, Amortization Expense, Year Four	707
Finite-Lived Intangible Assets, Amortization Expense, Year Five	707
Finite-Lived Intangible Assets, Amortization Expense, after Year Five	1,509
Net	$ 5,044

Stockholders' Equity (Details) $ / shares in Units, $ in Thousands	12 Months Ended
	Jan. 01, 2022 USD ($) shares	Dec. 30, 2023 vote $ / shares shares	Dec. 31, 2022 $ / shares shares
Equity [Abstract]
Preferred stock, shares authorized (in shares)		5,000,000	5,000,000
Preferred stock, par value (in dollars per share) \| $ / shares		$ 0.01	$ 0.01
Preferred stock, shares issued (in shares)		0	0
Preferred stock, shares outstanding (in shares)		0	0
Common stock, votes per share \| vote		1
Stock repurchases (in shares)	1,645,172
Stock repurchases \| $	$ 150,000

Nature of the Business (Details) - Amazon, Inc. - Subsequent Event - USD ($) $ in Millions			3 Months Ended
	Jan. 31, 2024	Jan. 29, 2024	Mar. 30, 2024
Business Acquisition [Line Items]
Proceeds from termination		$ 94.0
Professional fees incurred	$ 18.8		$ 18.8

Income Taxes - Net Deferred Tax Assets (Details) - USD ($) $ in Thousands	Dec. 30, 2023	Dec. 31, 2022
Deferred tax assets:
Capitalized research and development	$ 49,684	$ 48,348
Revenue reserves	14,949	23,049
Accruals and other liabilities	15,589	11,448
Operating lease liabilities	7,785	8,511
Tax credits and net operating loss carryforwards	93,302	28,240
Stock-based compensation	4,196	4,868
Interest Expense Limitation	3,312	0
Other	7,530	7,032
Total deferred tax assets	196,347	131,496
Valuation allowance	(178,568)	(99,444)
Total deferred tax assets, net of valuation allowance	17,779	32,052
Deferred tax liabilities:
Intangible assets	1,635	2,597
Operating lease right-of-use assets	4,592	7,862
Other	3,407	6,276
Total deferred tax liabilities	9,634	16,735
Net deferred tax assets	$ 8,145	$ 15,317

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 30, 2023

Accounting Policies [Abstract]

Activity related to accounts receivable allowances was as follows (in thousands):


	Fiscal Year Ended
	December 30, 2023		December 31, 2022		January 1, 2022
Allowance for product returns
Balance at beginning of period	$	49,151	$	56,839	$	64,343
Provision	25,948		41,969		61,014
Deduction	(50,449)		(49,657)		(68,518)

Balance at end of period	$	24,650	$	49,151	$	56,839

Allowance for other credits and incentives
Balance at beginning of period	$	106,519	$	101,606	$	142,173
Provision	262,230		269,187		267,821
Deduction	(273,409)		(264,274)		(308,388)

Balance at end of period	$	95,340	$	106,519	$	101,606

Property and equipment

Property and equipment are recorded at cost and depreciated using the straight-line method over the estimated useful lives as follows:


			Estimated Useful Life
Computer and equipment			2-5 years
Furniture and fixtures			5
Machinery and tooling			2-5

Business applications software			3-7
Leasehold improvements			Lesser of economic benefit period or term of lease

Property and equipment consists of the following (in thousands):


	December 30, 2023		December 31, 2022
Computer and equipment	$	10,713	$	12,750
Furniture and fixtures	6,954		7,843
Machinery and tooling	93,387		95,332
Leasehold improvements	26,544		29,594
Business applications software	15,956		16,018
Other	5,734		5,223
Subtotal	159,288		166,760
Less: accumulated depreciation	118,893		105,851
Property and equipment, net	$	40,395	$	60,909

Concentration of credit risk, cash and cash equivalents

As of December 30, 2023, the financial institutions that accounted for 10% or more of total cash and cash equivalents were as follows:


	December 30, 2023	December 31, 2022
Institution A	58%	91%
Institution B	14%	—%
Institution C	14%	—%
Institution D	14%	—%

Basic and diluted net income per share

The following table presents the calculation of both basic and diluted net (loss) income per share (in thousands, except per share amounts):


	Fiscal Year Ended
	December 30, 2023		December 31, 2022		January 1, 2022
Net (loss) income	$	(304,710)	$	(286,295)	$	30,390
Weighted-average shares outstanding	27,676		27,214		27,687
Dilutive effect of employee stock plans	—		—		475
Diluted weighted-average shares outstanding	27,676		27,214		28,162
Basic (loss) income per share	$	(11.01)	$	(10.52)	$	1.10
Diluted (loss) income per share	$	(11.01)	$	(10.52)	$	1.08

Stock-Based Compensation (Tables)

12 Months Ended

Dec. 30, 2023

Share-Based Payment Arrangement [Abstract]

Share based compensation expense by classification

Stock-based compensation breaks down by expense classification as follows (in thousands):


	Fiscal Year Ended
	December 30, 2023		December 31, 2022		January 1, 2022
Cost of revenue	$	3,160	$	2,194	$	1,321
Research and development	12,391		10,473		9,542
Selling and marketing	5,843		6,358		4,190
General and administrative	14,662		12,880		6,641
Total	$	36,056	$	31,905	$	21,694

Activities relating to time based restricted stock units

The following table summarizes the time-based restricted stock unit activity for fiscal 2023, 2022 and 2021:


	Number of Shares Underlying Restricted Stock	Weighted Average Grant Date Fair Value
Outstanding at January 2, 2021	894,033	$	68.97
Granted	523,496	88.73
Vested	(314,427)	71.36
Forfeited	(99,886)	75.82
Outstanding at January 1, 2022	1,003,216	77.85
Granted	638,554	54.26
Vested	(321,443)	78.10
Forfeited	(187,227)	73.45
Outstanding at December 31, 2022	1,133,100	65.21
Granted	1,001,090	42.10
Vested	(567,696)	61.99
Forfeited	(212,895)	61.24
Outstanding at December 30, 2023	1,353,599	$	50.09

Activities relating to performance based restricted stock units

The following table summarizes the performance-based restricted stock unit activity for fiscal 2023, 2022 and 2021:


	Number of Shares Underlying PSU	Weighted Average Grant Date Fair Value
Outstanding at January 2, 2021	229,652	$	66.41
Granted	134,127	94.74
Vested	(55,503)	68.41
Forfeited	(23,154)	71.68
Outstanding at January 1, 2022	285,122	78.92
Granted	153,676	57.94
Vested	—	—
Forfeited	(71,616)	97.31
Outstanding at December 31, 2022	367,182	66.55
Granted	—	—
Vested	(32,669)	49.30
Forfeited	(180,620)	54.07
Outstanding at December 30, 2023	153,893	$	84.87

Summary of Significant Accounting Policies - Accounts Receivable Allowances (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 30, 2023	Dec. 31, 2022	Jan. 01, 2022
Allowance for product returns
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at beginning of period	$ 49,151	$ 56,839	$ 64,343
Provision	25,948	41,969	61,014
Deduction	(50,449)	(49,657)	(68,518)
Balance at end of period	24,650	49,151	56,839
Allowance for other credits and incentives
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at beginning of period	106,519	101,606	142,173
Provision	262,230	269,187	267,821
Deduction	(273,409)	(264,274)	(308,388)
Balance at end of period	$ 95,340	$ 106,519	$ 101,606

Property and Equipment (Tables)

12 Months Ended

Dec. 30, 2023

Property, Plant and Equipment [Abstract]

Property and equipment

Property and equipment are recorded at cost and depreciated using the straight-line method over the estimated useful lives as follows:


			Estimated Useful Life
Computer and equipment			2-5 years
Furniture and fixtures			5
Machinery and tooling			2-5

Business applications software			3-7
Leasehold improvements			Lesser of economic benefit period or term of lease

Property and equipment consists of the following (in thousands):


	December 30, 2023		December 31, 2022
Computer and equipment	$	10,713	$	12,750
Furniture and fixtures	6,954		7,843
Machinery and tooling	93,387		95,332
Leasehold improvements	26,544		29,594
Business applications software	15,956		16,018
Other	5,734		5,223
Subtotal	159,288		166,760
Less: accumulated depreciation	118,893		105,851
Property and equipment, net	$	40,395	$	60,909

Summary of Significant Accounting Policies - Net Income Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 30, 2023	Dec. 31, 2022	Jan. 01, 2022
Net (loss) income per share:
Net (loss) income	$ (304,710)	$ (286,295)	$ 30,390
Weighted-average shares outstanding (in shares)	27,676	27,214	27,687
Weighted Average Number Diluted Shares Outstanding Adjustment	0	0	475
Diluted weighted-average shares outstanding (in shares)	27,676	27,214	28,162
Basic income per share (in usd per share)	$ (11.01)	$ (10.52)	$ 1.10
Diluted income per share (in usd per share)	$ (11.01)	$ (10.52)	$ 1.08

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

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- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

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+ Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

+ Details

Goodwill and Other Intangible Assets - Goodwill (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 30, 2023	Dec. 31, 2022	Jan. 01, 2022
Goodwill [Roll Forward]
Goodwill beginning balance	$ 167,724	$ 173,292
Purchase accounting adjustments		(583)
Effect of foreign currency translation	7,381	(4,985)
Goodwill ending balance	175,105	167,724	$ 173,292
Finite-lived Intangible Assets [Roll Forward]
Intangible assets beginning balance	11,260	28,410
Purchase accounting adjustments		0
Amortization	(6,532)	(15,361)	(2,300)
Effect of foreign currency translation	316	(1,789)
Intangible assets ending balance	$ 5,044	$ 11,260	$ 28,410

- Definition

Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized.

+ References + Details

Accrued Expenses

12 Months Ended

Dec. 30, 2023

Accrued Liabilities, Current [Abstract]

Accrued Expenses


8.			Accrued Expenses

Accrued expenses consist of the following (in thousands):


	December 30, 2023		December 31, 2022
Accrued warranty	$	24,625	$	27,379
Accrued compensation and benefits	15,487		22,158
Accrued returns and sales incentives	12,897		1,312
Accrued taxes payable	8,927		12,753
Derivative liability	7,276		7,310
Accrued manufacturing and logistics cost	5,462		970
Current portion of operating lease liabilities	5,216		5,415
Accrued merger related liabilities	4,721		10,895
Accrued interest	4,498		—



Accrued other	8,890		10,767
	$	97,999	$	98,959

Revenue Recognition (Tables)

12 Months Ended

Dec. 30, 2023

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenue [Table Text Block]

Disaggregation of Revenue

The following table provides information about disaggregated revenue by geographical region (in thousands):


	December 30, 2023		December 31, 2022		January 1, 2022
United States	$	428,531	$	615,107	$	754,173
EMEA	241,221		270,451		470,475
Japan	164,699		209,552		222,772
Other	56,129		88,273		117,567
Total revenue	$	890,580	$	1,183,383	$	1,564,987

Contract with Customer, Asset and Liability [Table Text Block]

Contract Balances

The following table provides information about receivables and contract liabilities from contracts with customers (in thousands):


	December 30, 2023		December 31, 2022
Accounts receivable, net	$	77,112	$	60,268
Unbilled receivables	3,006		6,569
Contract liabilities	18,702		24,140

The Company invoices customers based upon contractual billing schedules, and accounts receivable are recorded when the right to consideration becomes unconditional. Unbilled receivables represent revenue recognized in excess of billings. Contract liabilities include deferred revenue associated with the Cloud Services and extended warranty plans as well as prepayments received from customers in advance of product shipments. During fiscal 2023 and 2022, the Company recognized $14.5 million and $13.5 million, respectively, of the contract liability balance as revenue upon transfer of the products or services to customers.

Fair Value Measurements - Schedule Of Changes In Fair Value Of Level Instruments (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 30, 2023	Dec. 31, 2022	Jan. 01, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Term loan (Note 9)	$ 200,000	$ 0	$ 0
Change in fair value	5,904	0	$ 0
Level 3 \| Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Beginning balance	0
Term loan (Note 9)	200,000
Change in fair value	1,501
Ending balance	$ 201,501	$ 0

Income Taxes - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
Income Taxes - Narrative (Details) - USD ($) $ in Thousands	Dec. 30, 2023	Dec. 31, 2022
Tax Credit Carryforward [Line Items]
Operating loss carryforwards	$ 214,000
Federal research and development credit carryforwards	12,300
Valuation allowance	178,568	$ 99,444
Change in valuation allowance	79,100
Income tax penalties and interest accrued	0	0
Unrecognized tax benefits that would impact effective tax rate	10,100
Operating Loss Carryforwards, Indefinite Life And Foreign	44,500
Income Taxes, Accrued Interest	1,800	$ 1,200
State and Local Jurisdiction
Tax Credit Carryforward [Line Items]
Tax credit carryforward	$ 20,300

Fair Value Measurements

12 Months Ended

Dec. 30, 2023

Fair Value Disclosures [Abstract]

Fair Value Measurements


5.			Fair Value Measurements

Fair Value Measurements - Recurring Basis

The Company’s financial assets and liabilities measured at fair value on a recurring basis were as follows (in thousands):


	Fair Value Measurements as of
	December 30, 2023
	Level 1		Level 2		Level 3
Assets:
Money market funds	$	117,652	$	—	$	—
Restricted cash, current (Note 2)	1,000		—		—
Restricted cash, non-current (Note 2)	1,766		—		—
Derivative instruments (Note 10)	—		3,999		—



Total assets measured at fair value	$	120,418	$	3,999	$	—

Liabilities:
Term loan (unpaid principal of $200,000) (Note 9)	$	—	$	—	$	201,501
Derivative instruments (Note 10)	—		7,643		—
Total liabilities measured at fair value	$	—	$	7,643	$	201,501


	Fair Value Measurements as of
	December 31, 2022
	Level 1		Level 2		Level 3
Assets:
Money market funds	$	79,005	$	—	$	—


Derivative instruments (Note 10)	—		5,619		—
Total assets measured at fair value	$	79,005	$	5,619	$	—

Liabilities:
Derivative instruments (Note 10)	$	—	$	13,793	$	—
Total liabilities measured at fair value	$	—	$	13,793	$	—

The following table provides a summary of changes in fair value of our Level 3 instrument for twelve months ended December 30, 2023 (in thousands):


Balance at December 31, 2022	$	—
Term loan (Note 9)	200,000
Change in fair value	1,501
Balance at December 30, 2023	$	201,501

As discussed further in Note 9 to the consolidated financial statements, the Company elected to recognize the Term Loan under the fair value option. The fair value of the Term Loan as of December 30, 2023 has been determined based on a discounted cash flow model, which represents Level 3 measurements. Estimates of the fair value are highly subjective and require judgements regarding significant matters, such as the amount and timing of future cash flows, expected interest rate volatility and the discount rate. The use of different assumptions could have a material effect on the fair value estimates.

Fair Value Measurements - Nonrecurring Basis

The Company measures the fair value of certain assets on a nonrecurring basis when events or changes in circumstances indicate that the carrying amount of the asset may not be recoverable. During fiscal 2023 and 2022, in connection with the long-lived assets impairment analysis, certain intangible assets, right-of-use assets and property and equipment were measured and written down to fair value on a nonrecurring basis as a result of impairment. The fair value measurements were determined using a discounted cash flow method with unobservable inputs and were classified within Level 3 of the fair value hierarchy. In fiscal 2023, the Company recognized impairment charges of $4.9 million, $3.0 million and $1.0 million, respectively, related to intangible assets, right-of-use assets and property and equipment on its consolidated statement of operations. The fair value of the remaining intangible assets, right-of-use assets and property and equipment at the time of impairment was zero, $1.5 million and zero, respectively. In fiscal 2022, the Company recognized impairment charges of $11.1 million, $2.3 million and $1.1 million, respectively, related to intangible assets, right-of-use assets and property and equipment on its consolidated statement of operations. The fair value of the remaining intangible assets, right-of-use assets and property and equipment at the time of impairment were $5.5 million, $1.6 million and $0.6 million, respectively. See Note 2, Summary of Significant Accounting Policies, and Note 7, Goodwill and Other Intangible Assets, for additional information.

The Company's non-marketable equity securities are investments in privately held companies without readily determinable fair values and the carrying value of these non-marketable equity securities are remeasured to fair value based on price changes from observable transactions of identical or similar securities of the same issuer or for impairment. During both fiscal 2023 and 2022, the Company recorded impairment charges of $3.9 million related to investments in non-marketable equity securities and is recorded in other (expense) income, net on the consolidated statement of operations. See Note 2 to the consolidated financial statements, Summary of Significant Accounting Policies, for additional information.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Commitments and Contingencies - Narrative (Details) - USD ($) $ in Millions			3 Months Ended	12 Months Ended
	Jan. 31, 2024	Dec. 30, 2023	Mar. 30, 2024	Dec. 30, 2023
Other Commitments [Line Items]
Payments For Contractual Obligations				$ 14.0
Excess or obsolete recorded in cost of revenue				$ 10.3
Amazon, Inc.
Other Commitments [Line Items]
Expected professional fees and expenses to be incurred		$ 27.0
Amazon, Inc. \| Subsequent Event
Other Commitments [Line Items]
Professional fees incurred	$ 18.8		$ 18.8

Industry Segment, Geographic Information and Significant Customers

12 Months Ended

Dec. 30, 2023

Segment Reporting [Abstract]

Industry Segment, Geographic Information and Significant Customers


16.			Industry Segment, Geographic Information and Significant Customers

The Company operates as one operating segment. The Company's consumer robots are offered to consumers through a variety of distribution channels, including chain stores and other national retailers, through the Company's own website and app, dedicated e-commerce websites, the online arms of traditional retailers, and through value-added distributors and resellers worldwide.

Geographic Information

For the fiscal years ended December 30, 2023, December 31, 2022 and January 1, 2022, sales to non-U.S. customers accounted for 51.9%, 48.0% and 51.8% of total revenue, respectively.

The following table provides information about revenue by geographical region (in thousands):


	December 30, 2023		December 31, 2022		January 1, 2022
Domestic	$	428,531	$	615,107	$	754,173
International	462,049		568,276		810,814
Total	$	890,580	$	1,183,383	$	1,564,987

Significant Customers

For the fiscal years ended December 30, 2023, December 31, 2022, and January 1, 2022, there was one customer that accounted for 10% or more of total revenue, representing 24.0%, 22.6% and 21.8%, of total revenue, respectively.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

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+ Details

Property and Equipment (Details) - USD ($) $ in Thousands	12 Months Ended
Property and Equipment (Details) - USD ($) $ in Thousands	Dec. 30, 2023	Dec. 31, 2022	Jan. 01, 2022
Property, Plant and Equipment [Line Items]
Subtotal	$ 159,288	$ 166,760
Less: accumulated depreciation	118,893	105,851
Property and equipment, net	40,395	60,909
Capitalized Computer Software, Net	1,400	2,800
Depreciation	26,300	32,500	$ 31,100
Capitalized Computer Software, Amortization	1,400	2,200	$ 2,300
Computer and equipment
Property, Plant and Equipment [Line Items]
Subtotal	10,713	12,750
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Subtotal	6,954	7,843
Machinery and tooling
Property, Plant and Equipment [Line Items]
Subtotal	93,387	95,332
Leasehold improvements
Property, Plant and Equipment [Line Items]
Subtotal	26,544	29,594
Business applications software
Property, Plant and Equipment [Line Items]
Subtotal	15,956	16,018
Other
Property, Plant and Equipment [Line Items]
Subtotal	$ 5,734	$ 5,223

Debt (Tables)

12 Months Ended

Dec. 30, 2023

Debt Disclosure [Abstract]

Schedule of Long-Term Debt Instruments

The Company's outstanding debt as of December 30, 2023 was as follows (in thousands):


	Classification	December 30, 2023
Term Loan at fair value at issuance		$	200,000
Change in fair value of term loan due to instrument-specific credit risk	Other comprehensive income (loss)	(4,403)
Remaining changes in fair value	Other (expense) income, net	5,904
Term Loan at fair value as of December 30, 2023		$	201,501

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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+ Details

Summary of Significant Accounting Policies - Narrative (Details) $ / shares in Units, shares in Millions			1 Months Ended		3 Months Ended	6 Months Ended	12 Months Ended			24 Months Ended
	Jan. 29, 2024 employee	Jul. 24, 2023 USD ($) $ / shares	Feb. 28, 2023 employee	Aug. 31, 2022 employee	Dec. 30, 2023 USD ($) employee	Jun. 30, 2023 sublease_agreement	Dec. 30, 2023 USD ($) employee sublease_agreement shares	Dec. 31, 2022 USD ($) shares	Jan. 01, 2022 USD ($) shares	Dec. 30, 2023 USD ($) employee sublease_agreement
Accounting Policies [Line Items]
Revenue decrease							25.00%
Operating losses							$ 264,080,000	$ 240,383,000	$ 1,100,000
Operating cash outflows							114,793,000	90,021,000	31,970,000
Cash, cash equivalents and short-term investments					$ 185,100,000		$ 185,100,000	117,900,000		$ 185,100,000
Number of employees terminated \| employee			85	100
Percentage of workforce eliminated			7.00%	8.00%
Number of employees \| employee					1,113		1,113			1,113
Decrease in number of employees \| employee										550
Inventory					$ 152,469,000		$ 152,469,000	285,250,000		$ 152,469,000
Days in inventory (in days)							56 days
Cash and cash equivalents					185,121,000		$ 185,121,000	117,949,000	201,457,000	185,121,000
Allowance for credit loss					2,700,000		2,700,000	4,700,000		2,700,000
Cash received from tariff refund					5,200,000		5,200,000	26,800,000		5,200,000
Amortization expense							2,200,000	1,800,000
Capitalized cost					5,000,000		5,000,000	7,300,000		5,000,000
Impairment of goodwill							0	0	0
Impairment of long-lived assets					4,900,000			11,100,000	0
Impairment charges of investments in equity securities							3,900,000	3,900,000
Equity securities without readily determinable fair values					11,400,000		11,400,000	15,100,000		11,400,000
Advertising Expense							87,700,000	146,600,000	147,200,000
Valuation allowance					178,568,000		178,568,000	99,444,000		178,568,000
Restructuring charges							3,600,000	5,200,000
Impairment loss							4,000,000	3,400,000
Impairment of right-of-use asset							3,048,000	2,268,000	$ 0
Property and equipment impairment							$ 1,000,000	$ 1,100,000
Antidilutive securities excluded from computation of earnings per share (in shares) \| shares							0.8	0.9	0.1
Restricted Cash					2,800,000		$ 2,800,000			2,800,000
Restricted cash, current (included in other current assets)					1,000,000		1,000,000	$ 0	$ 0	1,000,000
Restricted cash, non-current (included in other assets)					1,766,000		1,766,000	0	0	1,766,000
Inventory Adjustments					6,400,000		6,400,000	0	$ 0	6,400,000
Restructuring Liability					700,000		$ 700,000			$ 700,000
Number of sublease agreements \| sublease_agreement						2	3			3
Lessor, Operating Lease, Payment to be Received					$ 4,279,000		$ 4,279,000			$ 4,279,000
Decrease in inventory, net							$ (132,800,000)
Subsequent Event
Accounting Policies [Line Items]
Expected number of positions eliminated \| employee	350
Amazon.com, Inc. and Martin Merger Sub, Inc.
Accounting Policies [Line Items]
Cash portion, cash per share for common stock converted (in dollars per share) \| $ / shares		$ 51.75
Revolving Credit Facility \| Line of Credit
Accounting Policies [Line Items]
Maximum amount available for borrowing under credit facility		$ 100,000,000
Secured Debt \| Line of Credit \| Credit Agreement
Accounting Policies [Line Items]
Principal balance		200,000,000
Proceeds from Debt, Net of Issuance Costs		$ 188,200,000
Products Imported After October, 12, 2021 And Sold In 2021 \| Roomba Robots
Accounting Policies [Line Items]
Tariffs paid								$ 11,700,000
Customer Concentration Risk \| Accounts Receivable \| One Customer
Accounting Policies [Line Items]
Concentration risk percentage							17.30%	16.60%
Customer Concentration Risk \| Revenue \| Amazon
Accounting Policies [Line Items]
Concentration risk percentage							24.00%	22.60%	21.80%
Supplier Concentration Risk \| Finished Goods Purchased \| One Supplier
Accounting Policies [Line Items]
Concentration risk percentage							79.00%	51.00%	45.00%

Derivative Instruments and Hedging Activities (Tables)

12 Months Ended

Dec. 30, 2023

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of fair values of derivative instruments

The fair values of derivative instruments were as follows (in thousands):


		Fair Value
	Classification		December 30, 2023		December 31, 2022
Derivatives not designated as hedging instruments:
Foreign currency forward contracts	Other current assets		$	2,929	$	4,288

Foreign currency forward contracts	Accrued expenses		4,586		3,249

Derivatives designated as cash flow hedges:
Foreign currency forward contracts	Other current assets		$	1,070	$	—
Foreign currency forward contracts	Other assets		—		1,331
Foreign currency forward contracts	Accrued expenses		2,690		4,061
Foreign currency forward contracts	Long-term liabilities		367		6,483

Schedule of derivative instruments gain (loss)

(Loss) gain associated with derivative instruments not designated as hedging instruments were as follows (in thousands):


		Fiscal year ended
	Classification	December 30, 2023		December 31, 2022		January 1, 2022
(Loss) gain recognized in income	Other (expense) income, net	$	(121)	$	2,951	$	(9,779)

The following tables reflect the effect of derivatives designated as cash flow hedging for the years ended (in thousands):


	Gain recognized in OCI on Derivative (1)
	Fiscal year ended
	December 30, 2023		December 31, 2022		January 1, 2022
Foreign currency forward contracts	$	2,978	$	43,735	$	31,363

(1)The amount represents the change in fair value of derivative contracts due to changes in spot rates.


	Gain recognized in earnings on cash flow hedging instruments
	December 30, 2023		December 31, 2022		January 1, 2022
	Revenue		Revenue		Revenue
Consolidated statements of operations in which the effects of cash flow hedging instruments are recorded	$	890,580	$	1,183,383	$	1,564,987

Gain on cash flow hedging relationships:
Foreign currency forward contracts:
Amount of gain reclassified from AOCI into earnings	$	24,373	$	27,285	$	4,493

Employee Benefits (Details) - USD ($) $ in Millions	12 Months Ended
Employee Benefits (Details) - USD ($) $ in Millions	Dec. 30, 2023	Dec. 31, 2022	Jan. 01, 2022
Retirement Benefits [Abstract]
Employee benefits, matching contribution	$ 3.3	$ 3.9	$ 3.8
Employer matching contribution percent	50.00%
Percent of employees fist contribution	6.00%
Maximum employee contribution percent	3.00%

Debt - Outstanding Debt (Details) - USD ($) $ in Thousands	5 Months Ended	12 Months Ended
Debt - Outstanding Debt (Details) - USD ($) $ in Thousands	Dec. 30, 2023	Dec. 30, 2023	Dec. 31, 2022	Jan. 01, 2022
Line of Credit Facility [Line Items]
Remaining changes in fair value		$ 5,904	$ 0	$ 0
Secured Debt \| Credit Agreement \| Line of Credit
Line of Credit Facility [Line Items]
Term Loan at fair value at issuance	$ 200,000
Change in fair value of term loan due to instrument-specific credit risk	(4,403)
Remaining changes in fair value	5,904
Term Loan at fair value as of end of year	$ 201,501	$ 201,501

Revenue Recognition

12 Months Ended

Dec. 30, 2023

Revenue from Contract with Customer [Abstract]

Revenue Recognition


3.			Revenue Recognition

Disaggregation of Revenue

The following table provides information about disaggregated revenue by geographical region (in thousands):


	December 30, 2023		December 31, 2022		January 1, 2022
United States	$	428,531	$	615,107	$	754,173
EMEA	241,221		270,451		470,475
Japan	164,699		209,552		222,772
Other	56,129		88,273		117,567
Total revenue	$	890,580	$	1,183,383	$	1,564,987

Contract Balances

The following table provides information about receivables and contract liabilities from contracts with customers (in thousands):


	December 30, 2023		December 31, 2022
Accounts receivable, net	$	77,112	$	60,268
Unbilled receivables	3,006		6,569
Contract liabilities	18,702		24,140

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org//1943274/2147479806/606-10-50-9

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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
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-URI https://asc.fasb.org//606/tableOfContent

+ Details

Stockholders' Equity

12 Months Ended

Dec. 30, 2023

Equity [Abstract]

Stockholders' Equity


11.			Stockholders' Equity

Preferred Stock

The Company has authorized 5,000,000 shares of undesignated preferred stock with a par value of $0.01 per share. None of the preferred shares were issued and outstanding as of December 30, 2023 and December 31, 2022.

Common Stock

Common stockholders are entitled to one vote for each share held and to receive dividends if and when declared by the Company's board of directors and subject to and qualified by the rights of holders of the preferred stock. Upon dissolution or liquidation of the Company, holders of common stock will be entitled to receive all available assets subject to any preferential rights of any then outstanding preferred stock.

Share Repurchase Activity

In fiscal 2021, the Company repurchased a total of 1,645,172 shares of its common stock, totaling $150.0 million, under the stock repurchase program approved by the Company's Board of Directors.

- Definition

The entire disclosure for equity.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)
-Publisher FASB
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Commitments and Contingencies

12 Months Ended

Dec. 30, 2023

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies


13.			Commitments and Contingencies

Legal Proceedings

From time to time and in the ordinary course of business, the Company is subject to various claims, charges and litigation. The outcome of litigation cannot be predicted with certainty and some lawsuits, claims or proceedings may be disposed of unfavorably to us, which could materially affect our financial condition or results of operations.

Commitments to Suppliers

The Company utilizes contract manufacturers to build its products and some of its accessories. These contract manufacturers manage the supply of components, capacity and resources to build products based on a forecasted production plan, which typically covers a rolling 12-month period. During the normal course of business, and in order to ensure adequate supply, the Company enters into purchase commitments with contract manufacturers and suppliers. In certain instances, these purchase commitments allow the Company the option to cancel, reschedule and/or adjust the supply requirements based on its business needs for a period of time before the order is due to be fulfilled. In some instances, these purchase commitments are not cancellable in the event of a change in demand or other circumstances, such as where the contract manufacturer and/or supplier has built products, semi-finished products or procured and/or ordered unique, iRobot-specific designs, and/or specific non-cancellable, non-returnable components based on the provided forecasts. If the Company cancels all or part of the orders, or materially reduces forecasted orders, in certain circumstances the Company may be liable to its contract manufacturers and/or suppliers for the cost of the excess components purchased by its contract manufacturers based on the forecasted production plan and the purchase terms of its component suppliers. During fiscal 2023, the Company paid $14.0 million to its contract manufacturers for such liabilities and recorded as inventory components. In addition, the Company recognized $10.3 million associated with losses on purchase commitments.

Guarantees and Indemnification Obligations

The Company enters into standard indemnification agreements in the ordinary course of business. Pursuant to these agreements, the Company indemnifies and agrees to reimburse the indemnified party for losses incurred by the indemnified party, generally the Company’s customers, in connection with any patent, copyright, trade secret or other proprietary right infringement claim by any third party. The term of these indemnification agreements is generally perpetual any time after execution of the agreement. The maximum potential amount of future payments the Company could be required to make under these indemnification agreements is unlimited. The Company has never incurred costs to defend lawsuits or settle claims related to these indemnification agreements. As a result, the Company believes the estimated fair value of these agreements is minimal. Accordingly, the Company had no liabilities recorded for these agreements as of December 30, 2023 and December 31, 2022, respectively.

Warranty

The Company provides warranties on most products and has established a reserve for warranty obligations based on estimated warranty costs. The reserve is included as part of accrued expenses (Note 8) in the accompanying consolidated balance sheets.

Activity related to the warranty accrual was as follows (in thousands):


	Fiscal Year Ended
	December 30, 2023		December 31, 2022		January 1, 2022
Balance at beginning of period	$	27,379	$	32,019	$	24,392

Provision	18,706		22,155		42,430
Warranty claims	(21,460)		(26,795)		(34,803)
Balance at end of period	$	24,625	$	27,379	$	32,019

Merger Contingencies

As previously disclosed, on August 4, 2022, the Company entered into the Original Merger Agreement with Amazon, subject to the terms of which Amazon had agreed to acquire the Company. On July 24, 2023, the Company entered into the Amendment which amended the Original Merger Agreement. On January 28, 2024, the Company and Amazon mutually agreed to terminate the Merger Agreement and entered into the Termination Agreement effective as of such date. As of December 30, 2023, the Company expected to incur professional fees and expenses of approximately $27.0 million in connection with the Transactions. As a result of the termination of the Merger Agreement, the Company paid $18.8 million in professional fees and expenses in the first quarter of 2024.

Stock-Based Compensation - RSUs and PSUs (Details) - $ / shares	12 Months Ended
	Dec. 30, 2023	Dec. 31, 2022	Jan. 01, 2022
Restricted Stock Units (RSUs)
Activities relating to restricted stock awards
Number of Shares Underlying Restricted Stock, Beginning Balance	1,133,100	1,003,216	894,033
Number of Shares Underlying Restricted Stock, Granted	1,001,090	638,554	523,496
Number of Shares Underlying Restricted Stock, Vested	(567,696)	(321,443)	(314,427)
Number of Shares Underlying Restricted Stock, Forfeited	(212,895)	(187,227)	(99,886)
Number of Shares Underlying Restricted Stock, Ending Balance	1,353,599	1,133,100	1,003,216
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Weighted Average Grant Date Fair Value, Beginning Balance (in dollars per share)	$ 65.21	$ 77.85	$ 68.97
Weighted Average Grant Date Fair Value, Granted (in dollars per share)	42.10	54.26	88.73
Weighted Average Grant Date Fair Value, Vested (in dollars per share)	61.99	78.10	71.36
Weighted Average Grant Date Fair Value, Forfeited (in dollars per share)	61.24	73.45	75.82
Weighted Average Grant Date Fair Value, Ending Balance (in dollars per share)	$ 50.09	$ 65.21	$ 77.85
Performance Based Restricted Stock Units
Activities relating to restricted stock awards
Number of Shares Underlying Restricted Stock, Beginning Balance	367,182	285,122	229,652
Number of Shares Underlying Restricted Stock, Granted	0	153,676	134,127
Number of Shares Underlying Restricted Stock, Vested	(32,669)	0	(55,503)
Number of Shares Underlying Restricted Stock, Forfeited	(180,620)	(71,616)	(23,154)
Number of Shares Underlying Restricted Stock, Ending Balance	153,893	367,182	285,122
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Weighted Average Grant Date Fair Value, Beginning Balance (in dollars per share)	$ 66.55	$ 78.92	$ 66.41
Weighted Average Grant Date Fair Value, Granted (in dollars per share)	0	57.94	94.74
Weighted Average Grant Date Fair Value, Vested (in dollars per share)	49.30	0	68.41
Weighted Average Grant Date Fair Value, Forfeited (in dollars per share)	54.07	97.31	71.68
Weighted Average Grant Date Fair Value, Ending Balance (in dollars per share)	$ 84.87	$ 66.55	$ 78.92

Income Taxes - Effective Income Tax Reconciliation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 30, 2023	Dec. 31, 2022	Jan. 01, 2022
Reconciliation of the expected tax (benefit) expense
Statutory federal income tax	$ (61,542)	$ (54,953)	$ 5,940
State taxes (net of federal benefit)	(8,255)	(6,314)	389
Federal and state credits	(8,268)	(9,473)	(7,620)
Excess tax expenses (benefits) from stock-based compensation	3,220	1,813	(4,160)
Foreign-derived intangible income	0	(1,364)	(3,253)
Executive compensation	1,053	541	1,706
Foreign tax rate differential	1,046	1,416	264
Change in valuation allowance	78,727	91,905	4,691
Non-deductible transaction costs	3,654	2,711	0
Other	2,020	(1,670)	(63)
Total income tax provision (benefit)	$ 11,655	$ 24,612	$ (2,106)

Industry Segment, Geographic Information and Significant Customers (Tables)

12 Months Ended

Dec. 30, 2023

Segment Reporting [Abstract]

Schedule of revenue by geography

The following table provides information about revenue by geographical region (in thousands):


	December 30, 2023		December 31, 2022		January 1, 2022
Domestic	$	428,531	$	615,107	$	754,173
International	462,049		568,276		810,814
Total	$	890,580	$	1,183,383	$	1,564,987

Nature of the Business

12 Months Ended

Dec. 30, 2023

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Nature of the Business


1.			Nature of the Business

iRobot Corporation ("iRobot" or the "Company") designs, builds and sells robots and home innovations that make life better. The Company's portfolio of home robots and smart home devices features proprietary technologies for the connected home and advanced concepts in cleaning, mapping and navigation, human-robot interaction and physical solutions. iRobot's durable and high-performing robots are designed using the close integration of software, electronics and hardware. The Company’s revenue is primarily generated from product sales through a variety of distribution channels, including chain stores and other national retailers, through the Company's own website and app, dedicated e-commerce websites, the online arms of traditional retailers and through value-added distributors and resellers worldwide.

Subsequent Events

As previously disclosed, on August 4, 2022, the Company entered into an Agreement and Plan of Merger (the "Original Merger Agreement") with Amazon.com, Inc., a Delaware corporation ("Parent" or "Amazon"), and Martin Merger Sub, Inc., a Delaware corporation and an indirect wholly owned subsidiary of Amazon ("Merger Sub"), providing for, among other things, the merger of Merger Sub with and into iRobot, with the Company surviving the merger as a wholly owned subsidiary of Parent (the "Merger", and, together with the other transactions contemplated by the Merger Agreement (as defined below), (the "Transactions"). On July 24, 2023, iRobot, Amazon and Merger Sub entered into an amendment to the Original Merger Agreement (the "Amendment", and the Original Merger Agreement, as amended and supplemented by the Amendment, the "Merger Agreement"). The Amendment adjusted the merger consideration to reflect the incurrence of the Term Loan (see Note 9, Debt, for additional information).

On January 28, 2024, the Company and Amazon mutually agreed to terminate the Merger Agreement and entered into a mutual termination agreement effective as of such date (the "Termination Agreement"). The termination of the Merger Agreement was approved by the Company’s Board of Directors. In accordance with the terms of the Termination Agreement, Amazon made a cash payment to the Company in the previously agreed amount of $94.0 million (the "Parent Termination Fee") on January 29, 2024. As a result of the termination of the Merger Agreement and receipt of the Parent Termination Fee of $94.0 million from Amazon, the Company made a payment of $18.8 million for professional fees incurred in connection with the Transactions. In accordance with the terms of the Credit Agreement, the Company applied $35.0 million to repay a portion of the Term Loan. The remaining $40.0 million of the Parent Termination Fee will be set aside in a restricted account to be used for future repayments of the Term Loan subject to limited rights of the Company to utilize such amounts for the purchase of inventory. See Note 9, Debt, for additional information.

See Note 17, Subsequent Events, for additional events and details.

Revenue Recognition Contract Balances (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 30, 2023	Dec. 31, 2022
Revenue from Contract with Customer [Abstract]
Unbilled receivables	$ 3,006	$ 6,569
Contract liabilities	18,702	24,140
Revenue recognized	14,500	13,500
Contract with Customer, Receivable, after Allowance for Credit Loss	$ 77,112	$ 60,268

Fair Value Measurements (Tables)

12 Months Ended

Dec. 30, 2023

Fair Value Disclosures [Abstract]

Schedule of financial assets and liabilities measured at fair value on a recurring basis

The Company’s financial assets and liabilities measured at fair value on a recurring basis were as follows (in thousands):


	Fair Value Measurements as of
	December 30, 2023
	Level 1		Level 2		Level 3
Assets:
Money market funds	$	117,652	$	—	$	—
Restricted cash, current (Note 2)	1,000		—		—
Restricted cash, non-current (Note 2)	1,766		—		—
Derivative instruments (Note 10)	—		3,999		—



Total assets measured at fair value	$	120,418	$	3,999	$	—

Liabilities:
Term loan (unpaid principal of $200,000) (Note 9)	$	—	$	—	$	201,501
Derivative instruments (Note 10)	—		7,643		—
Total liabilities measured at fair value	$	—	$	7,643	$	201,501


	Fair Value Measurements as of
	December 31, 2022
	Level 1		Level 2		Level 3
Assets:
Money market funds	$	79,005	$	—	$	—


Derivative instruments (Note 10)	—		5,619		—
Total assets measured at fair value	$	79,005	$	5,619	$	—

Liabilities:
Derivative instruments (Note 10)	$	—	$	13,793	$	—
Total liabilities measured at fair value	$	—	$	13,793	$	—

Schedule Of Changes In Fair Value Of Level Instruments

The following table provides a summary of changes in fair value of our Level 3 instrument for twelve months ended December 30, 2023 (in thousands):


Balance at December 31, 2022	$	—
Term loan (Note 9)	200,000
Change in fair value	1,501
Balance at December 30, 2023	$	201,501

Goodwill and Other Intangible Assets - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 30, 2023	Dec. 31, 2022	Jan. 01, 2022
Finite-Lived Intangible Assets [Line Items]
Amortization	$ 6,532	$ 15,361	$ 2,300
Impairment loss on intangible assets	4,900	11,100
Aeris Cleantec AG
Finite-Lived Intangible Assets [Line Items]
Impairment loss on intangible assets	$ 4,900	$ 11,100

Derivative Instruments and Hedging Activities

12 Months Ended

Dec. 30, 2023

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Instruments and Hedging Activities


10.			Derivative Instruments and Hedging Activities

The Company operates internationally and, in the normal course of business, is exposed to fluctuations in foreign currency exchange rates. The foreign currency exposures typically arise from transactions denominated in currencies other than the functional currency of the Company's operations, primarily the British Pound, Canadian Dollar, Euro and Japanese Yen. The Company enters into derivative instruments that are designated as cash flow hedges to reduce its exposure to foreign currency exchange risk in sales. These contracts have historically has a maturity of three years or less. At December 30, 2023 and December 31, 2022, the Company had outstanding cash flow hedges with a total notional value of $114.4 million and $362.9 million, respectively. The outstanding contracts have average maturities of 1 year or less.

The Company also enters into economic hedges that are not designated as hedges from an accounting standpoint to reduce foreign currency exchange risk related to short term trade receivables and payables. These contracts typically have maturities of twelve months or less. As of December 30, 2023 and December 31, 2022, the Company had outstanding foreign currency economic hedges with a total notional value of $252.0 million and $242.0 million, respectively.

During the first quarter of 2023, the Company terminated foreign currency forward contracts with a notional value of $151.7 million, resulting in a net cash payment of $2.5 million which was recognized within cash used in operating activities in the consolidated statement of cash flows. During fiscal 2022, the appreciation of the U.S. dollar resulted in the Company’s foreign currency forward contracts being substantially in-the-money. Given the increased cash value of the hedges and the Company’s overall desire to strengthen its cash position, the Company terminated the contracts during the third quarter of 2022, resulting in cash proceeds of $51.7 million which were recognized within cash used in operating activities in the consolidated statement of cash flows. Amounts previously recorded in AOCI were frozen at the time of termination, and will be recognized in earnings when the original forecasted transaction occurs. In conjunction with the termination of the existing contracts, the Company entered into new foreign currency forward contracts with the same notional values and value dates.

The fair values of derivative instruments were as follows (in thousands):


		Fair Value
	Classification		December 30, 2023		December 31, 2022
Derivatives not designated as hedging instruments:
Foreign currency forward contracts	Other current assets		$	2,929	$	4,288

Foreign currency forward contracts	Accrued expenses		4,586		3,249

Derivatives designated as cash flow hedges:
Foreign currency forward contracts	Other current assets		$	1,070	$	—
Foreign currency forward contracts	Other assets		—		1,331
Foreign currency forward contracts	Accrued expenses		2,690		4,061
Foreign currency forward contracts	Long-term liabilities		367		6,483

(Loss) gain associated with derivative instruments not designated as hedging instruments were as follows (in thousands):


		Fiscal year ended
	Classification	December 30, 2023		December 31, 2022		January 1, 2022
(Loss) gain recognized in income	Other (expense) income, net	$	(121)	$	2,951	$	(9,779)

The following tables reflect the effect of derivatives designated as cash flow hedging for the years ended (in thousands):


	Gain recognized in OCI on Derivative (1)
	Fiscal year ended
	December 30, 2023		December 31, 2022		January 1, 2022
Foreign currency forward contracts	$	2,978	$	43,735	$	31,363

(1)The amount represents the change in fair value of derivative contracts due to changes in spot rates.


	Gain recognized in earnings on cash flow hedging instruments
	December 30, 2023		December 31, 2022		January 1, 2022
	Revenue		Revenue		Revenue
Consolidated statements of operations in which the effects of cash flow hedging instruments are recorded	$	890,580	$	1,183,383	$	1,564,987

Gain on cash flow hedging relationships:
Foreign currency forward contracts:
Amount of gain reclassified from AOCI into earnings	$	24,373	$	27,285	$	4,493

Leases (Tables)

12 Months Ended

Dec. 30, 2023

Leases [Abstract]

Lease, Cost [Table Text Block]

The components of lease expense were as follows (in thousands):


	December 30, 2023		December 31, 2022		January 1, 2022
Operating lease cost	$	6,024	$	6,622	$	8,510
Variable lease cost	2,582		3,644		3,633
Sublease income	(1,276)		—		—
Right-of-use asset impairment	3,048		2,268		—
Total lease cost	$	10,378	$	12,534	$	12,143

Schedule of Leases, Supplemental Cash Flow [Table Text Block]

Supplemental cash flow information related to leases was as follows (in thousands):


	December 30, 2023		December 31, 2022		January 1, 2022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	7,781	$	8,187	$	8,762
Right-of-use assets obtained in exchange for lease obligations:
Operating leases	$	683	$	—	$	—

Lessee, Operating Lease, Liability, Maturity [Table Text Block]

Maturities of operating lease liabilities and sublease payments were as follows as of December 30, 2023 (in thousands):


	Operating Lease Payments		Sublease Payments		Net
2024	$	6,287	$	(1,115)	$	5,172
2025	6,092		(556)		5,536
2026	6,055		(572)		5,483
2027	5,909		(589)		5,320
2028	5,474		(607)		4,867
Thereafter	7,574		(840)		6,734
Total minimum lease payments	$	37,391	$	(4,279)	$	33,112
Less: imputed interest	4,566
Present value of future minimum lease payments	$	32,825
Less: current portion of operating lease liabilities (Note 8)	5,216
Long-term lease liabilities	$	27,609