7Baggers
Quarterly
Annual
    Unit: USD2025-09-28 2025-06-29 2025-03-30 2024-12-31 2024-09-29 2024-06-30 2024-03-31 2023-12-31 2023-10-01 2023-07-02 2023-04-02 2022-12-31 2022-10-02 2022-07-03 2022-04-03 2021-12-31 2021-10-03 2021-06-27 2021-03-28 2020-12-31 2020-09-27 2020-06-28 2020-03-29 2019-12-31 2019-09-29 2019-06-30 2019-03-31 2018-12-31 2018-09-30 
      
    		                             
      cash flows from operating activities:
    		                             
      net income
    		6,873,000 3,124,000 -835,000 -4,861,000 -4,439,000 -11,560,000 -9,644,000 692,000 -1,120,000 -7,363,000 -14,245,000 -22,155,000 -14,435,000 -11,557,000 -8,479,000 -6,792,000 -15,198,000 -23,320,000 -10,719,000 -15,210,000 -17,459,000 -29,256,000 -39,326,000 19,615,000 -30,590,000 -33,692,000 -41,284,000 -39,073,000 -13,225,000 
      adjustments to reconcile net income to net cash from operating activities:
    		                             
      stock-based compensation expense, net of amounts capitalized
    		                             
      depreciation and amortization
    		899,000 858,000 829,000 805,000 711,000 781,000 903,000 852,000 1,456,000 1,204,000 1,149,000 1,115,000 1,130,000 1,221,000 1,302,000 1,429,000 1,377,000 1,622,000 1,547,000 2,182,000 2,548,000 2,703,000 2,773,000 -269,000 3,863,000 4,062,000 3,025,000 1,901,000 1,450,000 
      gain on early lease termination
    		                             
      allowance for credit losses and non-cash changes to reserves
    		  416,000 -845,000 3,155,000 -118,000 -107,000                       
      deferred income taxes
    		-199,000 48,000 -155,000 10,000 -18,000 -73,000 68,000 -145,000 14,000 116,000 127,000 -78,000 126,000 142,000 -9,000 -12,000 -169,000 15,000 -130,000 -13,000 36,000 -73,000 100,000 -101,000 -183,000 86,000 -12,000 -670,000  
      discount accretion on investments and other
    		-790,000 -733,000 -657,000                           
      changes in assets and liabilities:
    		                             
      accounts receivable
    		-15,212,000 -15,475,000 11,287,000 11,323,000 -6,900,000 -5,173,000 8,978,000 4,952,000 -12,996,000 -4,482,000 13,216,000 16,688,000 -8,669,000 3,990,000 1,508,000 -9,451,000 -18,024,000 -786,000 26,522,000 -21,220,000 -9,665,000 14,965,000 65,685,000 -28,101,000 -19,990,000 -8,141,000 94,479,000 -48,927,000 -117,119,000 
      inventories
    		-14,522,000 4,178,000 5,648,000 12,099,000 -9,824,000 -510,000 -6,275,000 16,027,000 -14,661,000 70,000 6,341,000 26,726,000 -33,985,000 -2,118,000 1,490,000 1,984,000 4,622,000 13,356,000 9,296,000 4,700,000 -3,665,000 -4,315,000 6,142,000 2,929,000 23,106,000 34,005,000 -6,436,000 7,687,000 -9,389,000 
      prepaid expenses and other assets
    		1,875,000 -3,112,000 354,000 -874,000 -449,000 -582,000 -1,672,000 2,855,000 1,271,000 -4,724,000 -900,000 3,532,000 -872,000 211,000 556,000 1,703,000 -384,000 -5,143,000 361,000 2,072,000 -376,000 3,472,000 5,273,000 13,254,000 -3,513,000 724,000 1,060,000 527,000 -2,287,000 
      accounts payable
    		28,310,000 1,095,000 -14,983,000 -29,870,000 19,374,000 4,224,000 14,561,000 -27,326,000 21,213,000 15,929,000 -6,093,000 -55,749,000 29,794,000 9,111,000 -15,676,000 22,183,000 19,162,000 15,458,000 -34,647,000 -11,728,000 21,115,000 13,165,000 -71,834,000 53,172,000 35,484,000 -32,379,000 -27,486,000 33,590,000 49,332,000 
      deferred revenue
    		-1,992,000 -641,000 15,597,000 2,723,000 1,132,000 2,155,000 3,427,000 408,000 4,000 2,413,000 3,785,000 -737,000 -1,781,000 -3,352,000 -13,411,000 -10,900,000 -9,217,000 -10,701,000 -8,101,000 31,176,000 -16,016,000 -5,302,000 -6,251,000 24,563,000 531,000 -273,000 -2,254,000 4,084,000 2,616,000 
      accrued and other liabilities
    		3,973,000 4,921,000 -3,594,000 2,430,000 1,813,000 -2,779,000 -8,191,000 1,243,000 2,043,000 -3,529,000 -7,716,000 2,784,000 13,478,000 -14,793,000 -1,320,000  2,430,000 -4,001,000 -22,072,000  3,672,000 776,000 -25,651,000  -1,864,000 3,640,000 -53,553,000   
      net cash from operating activities
    		19,203,000 8,830,000 30,919,000 6,672,000 18,366,000 6,462,000 19,806,000 7,935,000 7,459,000 12,579,000 10,329,000 -11,179,000 -5,402,000 -4,824,000 -24,557,000 9,459,000 -9,190,000 6,702,000 -30,168,000 12,787,000 -10,634,000 221,000 -48,904,000 51,886,000 11,946,000 -39,176,000 -15,485,000 28,623,000 -43,571,000 
      capex
    		-4,361,000 -598,000 -1,639,000 -1,015,000 -547,000 -242,000 -176,000 -936,000 -201,000 -1,492,000 -29,000 -458,000 -488,000 -130,000 12,000 -374,000 -998,000 204,000 -721,000 -2,728,000 -939,000 1,127,000 -788,000 -2,133,000 6,424,000 -4,514,000 -5,355,000 -88,000 -207,000 
      free cash flows
    		14,842,000 8,232,000 29,280,000 5,657,000 17,819,000 6,220,000 19,630,000 6,999,000 7,258,000 11,087,000 10,300,000 -11,637,000 -5,890,000 -4,954,000 -24,545,000 9,085,000 -10,188,000 6,906,000 -30,889,000 10,059,000 -11,573,000 1,348,000 -49,692,000 49,753,000 18,370,000 -43,690,000 -20,840,000 28,535,000 -43,778,000 
      cash flows from investing activities:
    		                             
      purchases of property and equipment, including capitalized software
    		-4,218,000                             
      purchases of short-term investments
    		-29,542,000 -39,341,000 -44,049,000 -59,113,000 -34,436,000 -70,717,000 -40,802,000 -38,965,000 -49,753,000 -24,397,000 -36,755,000 0 -9,815,000 -14,850,000 -44,640,000     -4,998,000 -19,991,000 -4,998,000 -20,096,000 0 -4,975,000 -14,896,000 -9,897,000 -14,845,000  
      purchase of long-term investment
    		0 0 -12,500,000                           
      proceeds from maturities of short-term investments
    		40,000,000 20,000,000 45,000,000 59,800,000 46,894,000 71,184,000 40,718,000 34,772,000 37,303,000 14,950,000 15,006,000 15,000,000 15,030,000   0 0 5,000,000 15,000,000 5,000,000 20,000,000 15,000,000 10,000,000 20,000,000 10,000,000 15,000,000 15,000,000   
      net cash from investing activities
    		6,240,000 -22,316,000 -14,352,000 -389,000 11,497,000 172,000 -440,000 -4,592,000 -12,944,000 -10,478,000 -22,672,000 13,805,000 4,851,000 -5,491,000 -44,938,000 -330,000 -872,000 4,737,000 14,197,000 -1,820,000 -877,000     -2,752,000 843,000 -20,657,000 -43,094,000 
      cash flows from financing activities:
    		                             
      proceeds related to employee benefit plans
    		0 1,631,000 649,000 1,252,000 4,733,000 1,807,000 573,000 3,200,000 682,000 4,608,000 3,000 1,088,000 1,000 1,783,000 1,388,000 828,000 1,267,000 3,000 6,133,000 1,704,000 1,195,000 2,000 1,854,000 0 1,825,000 11,000 1,000   
      repurchase of common stock
    		-10,675,000 -910,000 -15,239,000                           
      restricted stock unit withholdings
    		   -1,768,000 -20,462,000 -8,126,000 -14,355,000 -1,102,000 -5,971,000 -11,868,000 -4,694,000 -436,000 -4,211,000 -6,895,000 -6,660,000 -263,000 -3,854,000 -4,907,000 -4,177,000 -146,000 -1,483,000 -1,129,000 -2,020,000 -120,000 -73,000 -614,000 -1,068,000   
      net cash from financing activities
    		-10,675,000 721,000 -14,590,000 -4,937,000 -15,729,000 -6,319,000 -13,782,000 2,098,000 -5,289,000 -7,260,000 -4,691,000 652,000 -4,210,000 -5,112,000 -5,272,000 565,000 -2,587,000 -4,904,000 1,956,000 1,558,000 -288,000 -1,127,000 -166,000 -120,000 1,752,000 -603,000 -1,067,000 -615,000 234,605,000 
      net increase in cash, cash equivalents, and restricted cash
    		14,768,000 -12,765,000 1,977,000 1,346,000 14,134,000 315,000 5,584,000                       
      cash, cash equivalents, and restricted cash, at beginning of period
    		0 0 82,032,000 0 0 0 60,653,000 0 0 0 88,179,000                   
      cash, cash equivalents, and restricted cash, at end of period
    		14,768,000 -12,765,000 84,009,000 1,346,000 14,134,000 315,000 66,237,000 5,441,000 -10,774,000 -5,159,000 71,145,000                   
      reconciliation of cash, cash equivalents, and restricted cash to unaudited condensed consolidated balance sheets
    		                             
      cash and cash equivalents
    		14,768,000 -12,765,000 84,009,000 5,000,000 14,104,000 874,000 62,054,000 5,389,000 -10,818,000 -5,019,000 66,970,000                   
      restricted cash
    		    30,000 -559,000 4,183,000 52,000 44,000 -140,000 4,175,000                   
      total cash, cash equivalents, and restricted cash
    		14,768,000 -12,765,000 84,009,000 1,346,000 14,134,000 315,000 66,237,000 5,441,000 -10,774,000 -5,159,000 71,145,000                   
      supplemental cash flow information:
    		                             
      non-cash investing activities:
    		                             
      purchases of property and equipment included in accounts payable and accrued liabilities
    		-143,000 -598,000 1,164,000 61,000 414,000 53,000 180,000 -537,000 293,000 -461,000 894,000 737,000 -124,000 23,000 310,000 -44,000 -126,000 467,000 82,000 -906,000 -53,000 1,200,000 323,000 -492,000 4,331,000 -1,658,000 -1,095,000   
      stock-based compensation expense capitalized for software development
    		534,000                             
      stock-based compensation expense, net of amounts of capitalized
    		                             
      stock-based compensation expense
    		  17,012,000 14,498,000 14,689,000 20,920,000 18,550,000 10,097,000 10,287,000 12,973,000 14,591,000 16,689,000 9,953,000 12,245,000 9,589,000 10,482,000 7,599,000 11,609,000 8,340,000 8,909,000 9,001,000 4,564,000 12,773,000 7,633,000 5,219,000 5,389,000 4,653,000   
      purchases of property and equipment
    		  -2,803,000 -1,076,000 -961,000 -295,000 -356,000 -399,000 -494,000 -1,031,000 -923,000 -1,195,000 -364,000 -153,000 -298,000 -330,000 -872,000 -263,000 -803,000 -1,822,000 -886,000 -73,000 -1,111,000 -1,641,000 2,093,000 -2,856,000 -4,260,000 -10,812,000 -3,320,000 
      reconciliation of cash, cash equivalents, and restricted cash to consolidated balance sheets
    		                             
      cash paid for income taxes
    		                             
      other
    		    -878,000 -823,000 -792,000                       
      impairment charges
    		               0 0             
      benefit from (release of) expected credit losses and inventory reserves
    		                             
      net decrease in cash, cash equivalents, and restricted cash
    		       5,441,000 -10,774,000 -5,159,000 -17,034,000                   
      allowance for credit losses and inventory reserves
    		        605,000 415,000 198,000 21,000 -91,000 15,000 -135,000 -595,000 -1,445,000 -523,000 -562,000    1,709,000       
      others
    		        -657,000 -443,000 -124,000 -15,000                  
      net decrease in cash and cash equivalents and restricted cash
    		            -4,761,000 -15,427,000 -74,767,000  -12,649,000 6,535,000 -14,015,000  -11,799,000 9,023,000 -60,277,000       
      cash and cash equivalents and restricted cash, at beginning of period
    		            0 0 179,856,000 0 0 0 190,291,000 0 0 0 240,819,000 0 0 0 155,424,000   
      cash and cash equivalents and restricted cash, at end of period
    		            -4,761,000 -15,427,000 105,089,000 9,694,000 -12,649,000 6,535,000 176,276,000 12,525,000 -11,799,000 9,023,000 180,542,000 122,819,000 20,816,000 -42,531,000 139,715,000   
      premium amortization (discount accretion) on investments
    		             61,000 28,000 0 0 0 -3,000 -6,000          
      non-cash investing and financing activities:
    		                             
      gain on sale of business
    		                   0 0 0 -292,000       
      accrued liabilities
    		                           65,391,000 52,427,000 
      proceeds from sale of business
    		                             
      net increase in cash and cash equivalents and restricted cash
    		                       122,819,000 20,816,000 -42,531,000 -15,709,000   
      de-recognized fair value of build-to-suit lease
    		                             
      loss on disposal of property and equipment
    		                             
      allowance for (release of) credit losses and inventory reserves
    		                   -358,000 140,000         
      proceeds from initial public offering, net of offering costs
    		                           0  
      net investment from netgear
    		                             
      estimated fair value of a facility under build-to-suit lease including tenant improvements
    		                             
      loss on disposal of fixed assets
    		                             
      de-recognition of build-to-suit assets and liabilities
    		                        0 0 -21,610,000   
      premium amortization / discount accretion on investments
    		                     49,000 -5,000  -117,000 -137,000 -137,000   
      net cash provided (cash used) by investing activities
    		                      -11,207,000       
      benefit from (release of) bad debts and inventory
    		                             
      premium amortization/discount accretion on investments
    		                             
      payments made in connection with business acquisition, net of cash acquired
    		                             
      net investment from parent
    		                           -615,000 61,210,000 
      estimated fair value of a facility under build-to-suit lease
    		                             
      changes in operating assets and liabilities:
    		                             
      receivables from netgear
    		                          12,054,000 14,337,000  
      income taxes payable
    		                          406,000 535,000 102,000 
      net investment to parent
    		                             
      stock-based compensation
    		                           3,495,000 3,437,000 
      purchases and transfers of property and equipment
    		                           10,724,000 3,113,000 
      payables to netgear
    		                             
      net increase in cash and cash equivalents
    		                            147,940,000 
      cash and cash equivalents, at beginning of period
    		                            0 
      cash and cash equivalents, at end of period
    		                            147,940,000 
    The information provided in this report is taken from www.sec.gov and many other data providers. While we have conducted our best efforts to ensure that the parsed data is accurate, we cannot guarantee its accuracy. Please use caution and understand that any consequences of its use are your own responsibility.