0000851310-23-000097 | 10-Q | XBRL Viewer

CONTRACT ASSETS AND DEFERRED REVENUE

9 Months Ended

Sep. 29, 2023

Revenue from Contract with Customer [Abstract]

Contract assets exist when the Company has satisfied a performance obligation but does not have an unconditional right to consideration (e.g., because the entity first must satisfy another performance obligation in the contract before it is entitled to invoice the customer). Deferred revenue represents the Company’s obligation to transfer goods or services to a customer for which the Company has received consideration (or an amount of consideration is due) from the customer.

Contract assets and deferred revenue consisted of the following:


	As of
(in thousands)	September 29, 2023		December 31, 2022
Contract assets	$	4,396	$	5,580
Deferred revenue	$	71,121	$	80,471

Contract assets and the non-current portion of deferred revenue are reported as components of “Prepaid expenses and other current assets” and “Other non-current liabilities,” respectively, on the condensed consolidated balance sheets.

Revenue recognized during the three months ended September 29, 2023 and September 30, 2022, that was included within the deferred revenue balance at January 1, 2023 and 2022 was $9.6 million and $7.9 million, respectively. Revenue recognized during the nine months ended September 29, 2023 and September 30, 2022, that was included within the deferred revenue balance at January 1, 2023 and 2022 was $44.9 million and $42.7 million, respectively.

Remaining performance obligations represent contracted revenues that have not yet been recognized and include deferred revenue and unbilled amounts that will be recognized as revenue in the future. The aggregate balance of the Company’s remaining performance obligations as of September 29, 2023 was $627.2 million, 48% of which is expected to be recognized as revenue over the next 12 months and the remainder thereafter.

Refer to Note 10, “Segment Information” for disaggregated revenue information.

- 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

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-Topic 606
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+ Details

NET INCOME (LOSS) PER SHARE - Basic and Diluted Net Income Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 29, 2023	Sep. 30, 2022	Sep. 29, 2023	Sep. 30, 2022
Numerator:
Net income (loss)	$ (6,495)	$ 8,740	$ 153	$ 22,051
Denominator:
Basic (in shares)	112,031	105,228	111,431	104,617
Diluted (in shares)	112,031	113,185	117,910	110,911
Net income (loss) per share:
Basic (in dollars per share)	$ (0.06)	$ 0.08	$ 0	$ 0.21
Diluted (in dollars per share)	$ (0.06)	$ 0.08	$ 0	$ 0.20
Stock options
Denominator:
Weighted average number diluted shares outstanding adjustment (in shares)	0	218	0	238
Restricted stock units
Denominator:
Weighted average number diluted shares outstanding adjustment (in shares)	0	1,920	1,515	1,725
Stock purchase rights under the ESPP
Denominator:
Weighted average number diluted shares outstanding adjustment (in shares)	0	63	45	44
2022 Notes
Denominator:
Weighted average number diluted shares outstanding adjustment (in shares)	0	3,078	0	2,718
2024 Notes
Denominator:
Weighted average number diluted shares outstanding adjustment (in shares)	0	2,678	4,919	1,569

OTHER FINANCIAL STATEMENT INFORMATION - Property and Equipment, Net (Details) - USD ($) $ in Thousands	Sep. 29, 2023	Dec. 31, 2022
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 144,280	$ 150,806
Less: accumulated depreciation and amortization	(107,320)	(110,992)
Total	36,960	39,814
Machinery and equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	72,208	75,589
Capitalized software
Property, Plant and Equipment [Line Items]
Property and equipment, gross	26,975	30,588
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property and equipment, gross	39,720	39,199
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Property and equipment, gross	2,502	2,739
Construction-in-progress
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 2,875	$ 2,691

OTHER FINANCIAL STATEMENT INFORMATION

9 Months Ended

Sep. 29, 2023

Organization, Consolidation and Presentation of Financial Statements [Abstract]

OTHER FINANCIAL STATEMENT INFORMATION

The following tables provide details of selected balance sheet components:


Accounts receivable, net:	As of
(in thousands)	September 29, 2023		December 31, 2022
Accounts receivable	$	113,029	$	110,576
Less: allowances for expected credit losses and sales returns	(2,684)		(2,149)
Total	$	110,345	$	108,427


Inventories:	As of
(in thousands)	September 29, 2023		December 31, 2022
Finished goods	$	58,377	$	65,308
Raw materials	34,782		46,081
Work-in-process	5,046		3,251
Service-related spares	5,543		6,309
Total	$	103,748	$	120,949


Prepaid expenses and other current assets:	As of
(in thousands)	September 29, 2023		December 31, 2022
Prepaid expenses	$	13,173	$	5,558
Contract assets	4,396		5,583
Other current assets	15,548		15,196
Total	$	33,117	$	26,337


Property and equipment, net:	As of
(in thousands)	September 29, 2023		December 31, 2022
Machinery and equipment	$	72,208	$	75,589
Capitalized software	26,975		30,588
Leasehold improvements	39,720		39,199
Furniture and fixtures	2,502		2,739
Construction-in-progress	2,875		2,691
Property and equipment, gross	144,280		150,806
Less: accumulated depreciation and amortization	(107,320)		(110,992)
Total	$	36,960	$	39,814


Other current liabilities:	As of
(in thousands)	September 29, 2023		December 31, 2022
Accrued employee compensation and related expenses	$	18,405	$	29,675
Other	27,381		37,049
Total	$	45,786	$	66,724

INVESTMENTS IN EQUITY SECURITIES	9 Months Ended
INVESTMENTS IN EQUITY SECURITIES	Sep. 29, 2023
Investments, Debt and Equity Securities [Abstract]
INVESTMENTS IN EQUITY SECURITIES	INVESTMENTS IN EQUITY SECURITIES In May 2022, the Company sold its investment in Encoding.com, Inc. for total consideration of up to approximately $10.7 million. The Company received $7.8 million in May 2022 and recognized a gain of $4.2 million. The balance of the consideration of up to approximately $2.9 million will be payable to the Company within 18 months from the date of sale, subject to certain conditions and indemnity obligations, and will be recorded upon receipt by the Company.

CONVERTIBLE DEBT - Narrative (Details) - 2024 Notes $ / shares in Units, $ in Thousands	Sep. 13, 2019 USD ($) $ / shares	Sep. 29, 2023 USD ($)	Dec. 31, 2022 USD ($)
Debt Instrument [Line Items]
Debt instrument principal amount		$ 115,500	$ 115,500
Senior Notes
Debt Instrument [Line Items]
Debt instrument stated percentage (as a percent)	2.00%
Debt instrument principal amount	$ 115,500
Debt instrument conversion ratio	0.1155001
Debt instrument conversion price (in dollars per share) \| $ / shares	$ 8.66

- 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.

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+ Details

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Cumulative Effect, Period of Adoption, Adjustment	Cumulative Effect, Period of Adoption, Adjusted Balance	Common Stock	Common Stock Cumulative Effect, Period of Adoption, Adjusted Balance	Additional Paid-in Capital	Additional Paid-in Capital Cumulative Effect, Period of Adoption, Adjustment	Additional Paid-in Capital Cumulative Effect, Period of Adoption, Adjusted Balance	Accumulated Deficit	Accumulated Deficit Cumulative Effect, Period of Adoption, Adjustment	Accumulated Deficit Cumulative Effect, Period of Adoption, Adjusted Balance	Accumulated Other Comprehensive Loss	Accumulated Other Comprehensive Loss Cumulative Effect, Period of Adoption, Adjusted Balance
Beginning balance (in shares) at Dec. 31, 2021				102,959,000	102,959,000
Beginning balance at Dec. 31, 2021	$ 295,913	$ (13,910)	$ 282,003	$ 103	$ 103	$ 2,387,039	$ (32,249)	$ 2,354,790	$ (2,087,957)	$ 18,339	$ (2,069,618)	$ (3,272)	$ (3,272)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	22,051								22,051
Other comprehensive loss, net of tax	(19,041)											(19,041)
Issuance of common stock under stock option, award and purchase plans, net (in shares)				3,033,000
Issuance of common stock under award and purchase plans, net	1,115			$ 3		1,112
Repurchase of common stock (in shares)				(571,000)
Repurchase of common stock	(5,134)			$ (1)					(5,133)
Stock-based compensation	19,627					19,627
Ending balance (in shares) at Sep. 30, 2022				105,421,000
Ending balance at Sep. 30, 2022	300,621			$ 105		2,375,529			(2,052,700)			(22,313)
Beginning balance (in shares) at Jul. 01, 2022				105,061,000
Beginning balance at Jul. 01, 2022	296,836			$ 105		2,371,001			(2,061,320)			(12,950)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	8,740								8,740
Other comprehensive loss, net of tax	(9,363)											(9,363)
Issuance of common stock under stock option, award and purchase plans, net (in shares)				374,000
Issuance of common stock under award and purchase plans, net	(1,932)					(1,932)
Repurchase of common stock (in shares)				(14,000)
Repurchase of common stock	(120)								(120)
Stock-based compensation	6,460					6,460
Ending balance (in shares) at Sep. 30, 2022				105,421,000
Ending balance at Sep. 30, 2022	$ 300,621			$ 105		2,375,529			(2,052,700)			(22,313)
Beginning balance (in shares) at Dec. 31, 2022	109,871,000			109,871,000
Beginning balance at Dec. 31, 2022	$ 324,506			$ 110		2,380,651			(2,046,569)			(9,686)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	153								153
Other comprehensive loss, net of tax	(2,492)											(2,492)
Issuance of common stock under stock option, award and purchase plans, net (in shares)				2,300,000
Issuance of common stock under award and purchase plans, net	$ (2,091)			$ 2		(2,093)
Repurchase of common stock (in shares)	0
Stock-based compensation	$ 20,724					20,724
Ending balance (in shares) at Sep. 29, 2023	112,171,000			112,171,000
Ending balance at Sep. 29, 2023	$ 340,800			$ 112		2,399,282			(2,046,416)			(12,178)
Beginning balance (in shares) at Jun. 30, 2023				111,584,000
Beginning balance at Jun. 30, 2023	342,801			$ 112		2,389,573			(2,039,921)			(6,963)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(6,495)								(6,495)
Other comprehensive loss, net of tax	(5,215)											(5,215)
Issuance of common stock under stock option, award and purchase plans, net (in shares)				587,000
Issuance of common stock under award and purchase plans, net	2,468					2,468
Stock-based compensation	$ 7,241					7,241
Ending balance (in shares) at Sep. 29, 2023	112,171,000			112,171,000
Ending balance at Sep. 29, 2023	$ 340,800			$ 112		$ 2,399,282			$ (2,046,416)			$ (12,178)

LEASES

9 Months Ended

Sep. 29, 2023

Leases [Abstract]

LEASES

The components of lease expense are as follows:


	Three Months Ended				Nine Months Ended
(in thousands)	September 29, 2023		September 30, 2022		September 29, 2023		September 30, 2022
Operating lease cost	$	1,788	$	1,767	$	5,313	$	5,802
Variable lease cost	472		503		1,322		1,395
Total lease cost	$	2,260	$	2,270	$	6,635	$	7,197

Supplemental information related to leases are as follows:


	Three Months Ended				Nine Months Ended
(in thousands)	September 29, 2023		September 30, 2022		September 29, 2023		September 30, 2022
Cash paid for operating lease liabilities	$	1,762	$	1,925	$	5,368	$	5,803
Right-of-use assets obtained in exchange for operating lease obligations	$	—	$	—	$	—	$	206

CONVERTIBLE DEBT

9 Months Ended

Sep. 29, 2023

Debt Disclosure [Abstract]

CONVERTIBLE DEBT

2.00% Convertible Senior Notes due 2024 (the “2024 Notes”)

In September 2019, the Company issued $115.5 million of the 2024 Notes pursuant to an indenture (the “2024 Notes Indenture”), dated September 13, 2019, by and between the Company and U.S. Bank Trust Company, National Association (as successor in interest to U.S. Bank National Association), as trustee. The 2024 Notes bear interest at a rate of 2.00% per year, payable semi-annually on March 1 and September 1 of each year, beginning March 1, 2020. The 2024 Notes will mature on September 1, 2024, unless earlier repurchased by the Company, redeemed by the Company or converted pursuant to their terms.

The 2024 Notes were initially convertible into cash, shares of the Company’s common stock, or a combination thereof, at the Company’s election, at an initial conversion rate of 115.5001 shares of the Company’s common stock per $1,000 principal amount of the 2024 Notes (which is equivalent to an initial conversion price of approximately $8.66 per share). Pursuant to the supplemental indenture entered into by the Company and the trustee during the fourth quarter of the fiscal year ended December 31, 2021, the Company made an irrevocable election to settle the principal amounts of the 2024 Notes solely with cash and may pay or deliver, as the case may be, any conversion value greater than the principal amount in cash, shares of the Company’s common stock or a combination thereof, at the Company’s election. The conversion rate, and thus the effective conversion price, may be adjusted under certain circumstances, including in connection with conversions made following certain fundamental changes or a notice of redemption and under other circumstances, in each case, as set forth in the 2024 Notes Indenture.

The 2024 Notes will be convertible at certain times and upon the occurrence of certain events in the future, in each case, specified in the 2024 Notes Indenture. Further, on or after June 1, 2024, until the close of business on the scheduled trading day immediately preceding the maturity date, holders of the 2024 Notes may convert all or a portion of their 2024 Notes regardless of these conditions.

The 2024 Notes are recorded at face value less unamortized debt issuance costs. Amortization costs are reported as a component of interest expenses and are computed using the effective interest method. As the 2024 Notes mature within the next twelve months, they are classified as “Convertible debt, current” on the condensed consolidated balance sheet as of September 29, 2023.

The following table presents the components of the 2024 Notes:


	As of
(in thousands, except for years and percentages)	September 29, 2023		December 31, 2022
Liability:
Principal amount	$	115,500	$	115,500

Less: Debt issuance costs, net of amortization	(846)		(1,519)
Carrying amount	$	114,654	$	113,981

The following table presents interest expense recognized for the 2024 Notes:


	Three Months Ended				Nine Months Ended
(in thousands)	September 29, 2023		September 30, 2022		September 29, 2023		September 30, 2022
Contractual interest expense	$	578	$	578	$	1,734	$	1,734

Amortization of debt issuance costs	226		220		673		654
Total interest expense recognized	$	804	$	798	$	2,407	$	2,388

- 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.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

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(c))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 470
-Name Accounting Standards Codification
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-URI https://asc.fasb.org//470/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Name Accounting Standards Codification
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-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Name Accounting Standards Codification
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1E
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1E

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

+ Details

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Sep. 29, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized (in shares)	5,000,000	5,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	150,000,000	150,000,000
Common stock, shares issued (in shares)	112,171,000	109,871,000
Common stock, shares outstanding (in shares)	112,171,000	109,871,000

INVESTMENTS IN EQUITY SECURITIES (Details) - EDC $ in Millions	1 Months Ended
	May 31, 2022 USD ($)
Equity Securities without Readily Determinable Fair Value [Line Items]
Total consideration	$ 10.7
Proceeds from sales of investments	7.8
Gain on sale of investment	4.2
Potential additional consideration on sale of equity securities	$ 2.9
Expiration period	18 months

LEASES (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
LEASES (Details) - USD ($) $ in Thousands	Sep. 29, 2023	Sep. 30, 2022	Sep. 29, 2023	Sep. 30, 2022
Leases [Abstract]
Operating lease cost	$ 1,788	$ 1,767	$ 5,313	$ 5,802
Variable lease cost	472	503	1,322	1,395
Total lease cost	2,260	2,270	6,635	7,197
Supplemental information related to leases are as follows:
Cash paid for operating lease liabilities	1,762	1,925	5,368	5,803
Right-of-use assets obtained in exchange for operating lease obligations	$ 0	$ 0	$ 0	$ 206

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 29, 2023	Sep. 30, 2022
Cash flows from operating activities:
Net income	$ 153	$ 22,051
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation	9,178	9,225
Stock-based compensation	20,724	19,621
Amortization of convertible debt discount	673	897
Amortization of warrant	870	1,298
Foreign currency remeasurement	(814)	(3,312)
Deferred income taxes, net	2,026	1,798
Provision for expected credit losses and returns	1,790	1,835
Provision for excess and obsolete inventories	6,514	4,521
Gain on sale of investment in equity securities	0	(4,370)
Other adjustments	146	419
Changes in operating assets and liabilities:
Accounts receivable	(4,348)	(22,115)
Inventories	14,532	(34,952)
Other assets	6,164	(10,371)
Accounts payable	(20,606)	1,305
Deferred revenues	(9,208)	(955)
Other liabilities	(27,002)	(770)
Net cash provided by (used in) operating activities	792	(13,875)
Cash flows from investing activities:
Purchases of short-term investments	(6,305)	0
Proceeds from sales of investments	0	7,962
Purchases of property and equipment	(5,749)	(7,389)
Net cash provided by (used in) investing activities	(12,054)	573
Cash flows from financing activities:
Repurchase of common stock	0	(5,133)
Proceeds from other debts	3,829	3,499
Repayment of other debts	(4,721)	(4,480)
Proceeds from common stock issued to employees	6,552	6,129
Taxes paid related to net share settlement of equity awards	(8,643)	(5,014)
Net cash used in financing activities	(2,983)	(4,999)
Effect of exchange rate changes on cash and cash equivalents	281	(9,850)
Net decrease in cash and cash equivalents	(13,964)	(28,151)
Cash and cash equivalents at beginning of period	89,586	133,431
Cash and cash equivalents at end of period	75,622	105,280
Supplemental schedule of non-cash investing activities:
Capital expenditures incurred but not yet paid	$ 1,802	$ 819

NET INCOME (LOSS) PER SHARE

9 Months Ended

Sep. 29, 2023

Earnings Per Share [Abstract]

NET INCOME (LOSS) PER SHARE

Basic earnings per share is computed by dividing net income (loss) for the period by the weighted-average number of common shares outstanding during the period. Diluted earnings per share is calculated by dividing net income (loss) by the weighted-average number of common shares and potentially dilutive securities outstanding during the period using the treasury stock method for the Company’s stock options, restricted stock units, and shares issuable under the ESPP, and the if-converted method for the 2024 Notes.

As noted in Note 6, “Convertible Debt,” the principal amount of the 2024 Notes will be settled in cash. Therefore, for the purpose of calculating diluted net income (loss) per share, it will be assumed that the conversion spread value will be settled in shares.

The following table sets forth the computation of the basic and diluted net income per share:


	Three Months Ended				Nine Months Ended
(in thousands, except per share amounts)	September 29, 2023		September 30, 2022		September 29, 2023		September 30, 2022
Numerator:
Net income (loss)	$	(6,495)	$	8,740	$	153	$	22,051
Denominator:
Weighted average number of shares outstanding:
Basic	112,031		105,228		111,431		104,617
2022 Notes	—		3,078		—		2,718
2024 Notes	—		2,678		4,919		1,569
Stock options	—		218		—		238
Restricted stock units	—		1,920		1,515		1,725
Stock purchase rights under the ESPP	—		63		45		44
Diluted	112,031		113,185		117,910		110,911
Net income (loss) per share:
Basic	$	(0.06)	$	0.08	$	—	$	0.21
Diluted	$	(0.06)	$	0.08	$	—	$	0.20

The following table sets forth the potential dilutive shares that were excluded from the computation of diluted net income (loss) per share, because their effects were anti-dilutive:


	Three Months Ended		Nine Months Ended
(in thousands)	September 29, 2023	September 30, 2022	September 29, 2023	September 30, 2022

2024 Notes	3,650	—	—	—

Restricted stock units	3,465	22	198	43
Stock purchase rights under the ESPP	425	—	—	—
Total	7,540	22	198	43

CONTRACT ASSETS AND DEFERRED REVENUE - Schedule of Contract Assets and Deferred Revenue (Details) - USD ($) $ in Thousands	Sep. 29, 2023	Dec. 31, 2022
Revenue from Contract with Customer [Abstract]
Contract assets	$ 4,396	$ 5,580
Deferred revenue	$ 71,121	$ 80,471

OTHER FINANCIAL STATEMENT INFORMATION - Accounts Receivable, Net (Details) - USD ($) $ in Thousands	Sep. 29, 2023	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accounts receivable	$ 113,029	$ 110,576
Less: allowances for expected credit losses and sales returns	(2,684)	(2,149)
Total	$ 110,345	$ 108,427

Cover - shares	9 Months Ended
Cover - shares	Sep. 29, 2023	Oct. 30, 2023
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 29, 2023
Document Transition Report	false
Entity File Number	000-25826
Entity Registrant Name	HARMONIC INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	77-0201147
Entity Address, Address Line One	2590 Orchard Parkway
Entity Address, City or Town	San Jose
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	95131
City Area Code	408
Local Phone Number	542-2500
Title of 12(b) Security	Common stock, $0.001 par value
Trading Symbol	HLIT
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		112,189,931
Amendment Flag	false
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q3
Entity Central Index Key	0000851310
Current Fiscal Year End Date	--12-31

LEASES (Tables)

9 Months Ended

Sep. 29, 2023

Leases [Abstract]

Schedule of Lease Expense

The components of lease expense are as follows:


	Three Months Ended				Nine Months Ended
(in thousands)	September 29, 2023		September 30, 2022		September 29, 2023		September 30, 2022
Operating lease cost	$	1,788	$	1,767	$	5,313	$	5,802
Variable lease cost	472		503		1,322		1,395
Total lease cost	$	2,260	$	2,270	$	6,635	$	7,197

Supplemental information related to leases are as follows:


	Three Months Ended				Nine Months Ended
(in thousands)	September 29, 2023		September 30, 2022		September 29, 2023		September 30, 2022
Cash paid for operating lease liabilities	$	1,762	$	1,925	$	5,368	$	5,803
Right-of-use assets obtained in exchange for operating lease obligations	$	—	$	—	$	—	$	206

OTHER FINANCIAL STATEMENT INFORMATION - Other Current Liabilities (Details) - USD ($) $ in Thousands	Sep. 29, 2023	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accrued employee compensation and related expenses	$ 18,405	$ 29,675
Other	27,381	37,049
Total	$ 45,786	$ 66,724

SEGMENT INFORMATION

9 Months Ended

Sep. 29, 2023

Segment Reporting [Abstract]

SEGMENT INFORMATION

Operating segments are defined as components of an enterprise that engage in business activities for which separate financial information is available and evaluated regularly by the Company’s Chief Operating Decision Maker (the “CODM”), which for the Company is its Chief Executive Officer, in deciding how to allocate resources and assess performance. Based on the internal reporting structure, the Company consists of two operating segments: Video and Broadband. The operating segments were determined based on the nature of the products offered. The Video segment provides video processing, production and playout solutions and services worldwide to broadcast and media companies, new streaming media companies, broadband operators, and satellite and telecommunications (“telco”) Pay-TV service providers. The Broadband segment provides broadband access solutions and related services to broadband operators globally. A measure of assets by segment is not applicable as segment assets are not included in the discrete financial information provided to the CODM.

The following table provides summary financial information by reportable segment:


	Three Months Ended				Nine Months Ended
(in thousands)	September 29, 2023		September 30, 2022		September 29, 2023		September 30, 2022
Video
Revenue	$	51,397	$	63,824	$	167,562	$	205,881

Operating income (loss)	(6,050)		2,907		(7,386)		17,317
Broadband
Revenue	$	75,806	$	91,914	$	273,253	$	254,742

Operating income	6,128		15,303		44,307		33,573
Total
Revenue	$	127,203	$	155,738	$	440,815	$	460,623

Operating income	78		18,210		36,921		50,890

A reconciliation of the Company’s consolidated segment operating income to consolidated income before income taxes is as follows:


	Three Months Ended				Nine Months Ended
(in thousands)	September 29, 2023		September 30, 2022		September 29, 2023		September 30, 2022
Total consolidated segment operating income	$	78	$	18,210	$	36,921	$	50,890
Unallocated corporate expenses(1)	(1,440)		(326)		(3,658)		(2,227)
Stock-based compensation	(7,241)		(6,460)		(20,724)		(19,621)
Consolidated income (loss) from operations	(8,603)		11,424		12,539		29,042
Non-operating expense, net	(276)		(1,402)		(2,211)		107
Income (loss) before income taxes	$	(8,879)	$	10,022	$	10,328	$	29,149

(1) Together with stock-based compensation, the Company does not allocate restructuring and related charges and other non-recurring expenses to the operating income (loss) for each segment because management does not include this information in the measurement of the performance of the operating segments.

Disaggregation of Revenues

The following table provides a summary of total revenues disaggregated by type:


	Three Months Ended				Nine Months Ended
(in thousands)	September 29, 2023		September 30, 2022		September 29, 2023		September 30, 2022

Product sales	$	76,133	$	105,602	$	283,551	$	313,390
Professional services	8,627		10,839		27,130		37,903
Total Appliance and integration	84,760		116,441		310,681		351,293
SaaS	12,540		8,862		37,707		24,168
Support services	29,903		30,435		92,427		85,162
Total SaaS and services	42,443		39,297		130,134		109,330
Total revenue	$	127,203	$	155,738	$	440,815	$	460,623

The following table provides a summary of total revenues by geographic region:


	Three Months Ended				Nine Months Ended
(in thousands)	September 29, 2023		September 30, 2022		September 29, 2023		September 30, 2022

United States (1)	$	80,501	$	89,940	$	288,150	$	282,927
Other countries (1)	46,702		65,798		152,665		177,696
Total revenue	$	127,203	$	155,738	$	440,815	$	460,623

(1) Revenue is attributed to countries based on the location of the customer.

- 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

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

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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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Sep. 29, 2023	Sep. 30, 2022	Sep. 29, 2023	Sep. 30, 2022
Pay vs Performance Disclosure
Net income	$ (6,495)	$ 8,740	$ 153	$ 22,051

- Definition

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

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

CONTRACT ASSETS AND DEFERRED REVENUE - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 29, 2023	Sep. 30, 2022	Sep. 29, 2023	Sep. 30, 2022
Revenue from Contract with Customer [Abstract]
Revenue recognized that was included within the deferred revenue balance	$ 9.6	$ 7.9	$ 44.9	$ 42.7
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-09-30
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, amount	$ 627.2		$ 627.2
Revenue, remaining performance obligation, percentage to be recognized	48.00%		48.00%
Revenue, remaining performance obligation, expected timing of satisfaction, period	12 months		12 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-09-30
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, expected timing of satisfaction, period

CONVERTIBLE DEBT (Tables)

9 Months Ended

Sep. 29, 2023

Debt Disclosure [Abstract]

Schedule of Carrying Values and Estimated Fair Values of Debt Instruments

The following table presents the components of the 2024 Notes:


	As of
(in thousands, except for years and percentages)	September 29, 2023		December 31, 2022
Liability:
Principal amount	$	115,500	$	115,500

Less: Debt issuance costs, net of amortization	(846)		(1,519)
Carrying amount	$	114,654	$	113,981

Schedule of Convertible Debt Interest

The following table presents interest expense recognized for the 2024 Notes:


	Three Months Ended				Nine Months Ended
(in thousands)	September 29, 2023		September 30, 2022		September 29, 2023		September 30, 2022
Contractual interest expense	$	578	$	578	$	1,734	$	1,734

Amortization of debt issuance costs	226		220		673		654
Total interest expense recognized	$	804	$	798	$	2,407	$	2,388

STOCKHOLDERS’ EQUITY (Tables)

9 Months Ended

Sep. 29, 2023

Equity [Abstract]

Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs

The following table sets forth the detailed allocation of the share-based compensation expense which was included in the Company’s condensed consolidated statements of operations:


	Three Months Ended				Nine Months Ended
(in thousands)	September 29, 2023		September 30, 2022		September 29, 2023		September 30, 2022
Cost of revenue	$	606	$	607	$	1,895	$	1,691
Research and development expense	2,152		2,109		5,982		5,988
Selling, general and administrative expense	4,483		3,744		12,847		11,942
Total	$	7,241	$	6,460	$	20,724	$	19,621

Schedule of Restricted Stock Units Outstanding


(in thousands, except per share amounts)	Number of Shares	Weighted Average Grant-Date Fair Value Per Share
Balance at December 31, 2022	3,499	$	8.93
Granted	2,412	13.73
Vested	(2,201)	8.86
Forfeited	(257)	9.08
Balance at September 29, 2023	3,453	$	12.19

FAIR VALUE MEASUREMENTS

9 Months Ended

Sep. 29, 2023

Fair Value Disclosures [Abstract]

FAIR VALUE MEASUREMENTS

The applicable accounting guidance establishes a framework for measuring fair value and requires disclosure about the fair value measurements of assets and liabilities. This guidance defines fair value as the exchange price that would be received for an asset or paid to transfer a liability, in the principal or most advantageous market for the asset or liability, in an orderly transaction between market participants on the measurement date. Valuation techniques used to measure fair value must maximize the use of observable inputs and minimize the use of unobservable inputs. This guidance requires the Company to classify and disclose assets and liabilities measured at fair value on a recurring basis, as well as fair value measurements of assets and liabilities measured on a nonrecurring basis in periods subsequent to initial measurement, in a three-tier fair value hierarchy as follows:

•Level 1 - Observable inputs that reflect quoted prices for identical assets or liabilities in active markets.

•Level 2 - Observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities, quoted prices in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities.

•Level 3 - Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities.

The carrying value of the Company’s financial instruments, including cash equivalents, short-term investments, accounts receivable, accounts payable and accrued liabilities, approximate fair value due to their short maturities.

The following table sets forth the fair value of the Company’s financial assets measured at fair value on a recurring basis based on the three-tier fair value hierarchy (in thousands):


	September 29, 2023								December 31, 2022
(in thousands)	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Cash equivalents
Money market funds	$	10,054	$	—	$	—	$	10,054	$	—	$	—	$	—	$	—
Short-term investments
Time deposits	—		6,305		—		6,305		—		—		—		—


Total assets	$	10,054	$	6,305	$	—	$	16,359	$	—	$	—	$	—	$	—

The Company’s financial instruments not recorded at fair value on a recurring basis were as follows:


	September 29, 2023								December 31, 2022
	Carrying		Fair Value						Carrying		Fair Value
(in thousands)	Value		Level 1		Level 2		Level 3		Value		Level 1		Level 2		Level 3

2024 Notes	$	114,654	$	—	$	139,724	$	—	$	113,981	$	—	$	181,139	$	—

The fair value of the Company’s convertible notes is influenced by interest rates, the price of the Company’s common stock and stock market volatility. The difference between the carrying value and the fair value is primarily due to the spread between the conversion price and the market value of the shares underlying the conversion as of each respective balance sheet date.

- 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

BASIS OF PRESENTATION	9 Months Ended
BASIS OF PRESENTATION	Sep. 29, 2023
Accounting Policies [Abstract]
BASIS OF PRESENTATION	BASIS OF PRESENTATION The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States ("U.S. GAAP") and applicable rules and regulations of the Securities and Exchange Commission regarding interim financial reporting. Certain information and note disclosures normally included in the financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. As such, the information included in this Quarterly Report on Form 10-Q should be read in conjunction with the Company’s audited consolidated financial statements and accompanying notes included in our Annual Report on Form 10-K for the year ended December 31, 2022 (“2022 Form 10-K”). The accompanying unaudited condensed consolidated financial statements reflect all adjustments (consisting only of normal recurring adjustments) necessary for a fair presentation of the Company's financial position as of balance sheet dates and its operating results and cash flows for the interim periods presented. Operating results for interim periods are not necessarily indicative of the results that may be expected for any subsequent quarter or for the fiscal year ending December 31, 2023. The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates. The Company’s significant accounting policies are described in Note 2 to its audited Consolidated Financial Statements included in the 2022 Form 10-K. There have been no significant changes to these policies during the nine months ended September 29, 2023.

SEGMENT INFORMATION - Segment Income or Loss Reconciliation (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 29, 2023	Sep. 30, 2022	Sep. 29, 2023	Sep. 30, 2022
Segment Reporting Information [Line Items]
Total consolidated segment operating income	$ (8,603)	$ 11,424	$ 12,539	$ 29,042
Unallocated corporate expenses	(70,287)	(67,180)	(218,139)	(201,145)
Stock-based compensation	(7,241)	(6,460)	(20,724)	(19,621)
Non-operating expense, net	(276)	(1,402)	(2,211)	107
Income (loss) before income taxes	(8,879)	10,022	10,328	29,149
Operating Segments
Segment Reporting Information [Line Items]
Total consolidated segment operating income	78	18,210	36,921	50,890
Corporate, Non-segments
Segment Reporting Information [Line Items]
Unallocated corporate expenses	$ (1,440)	$ (326)	$ (3,658)	$ (2,227)

- 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
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(11))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483586/944-220-S99-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
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-URI https://asc.fasb.org//1943274/2147482810/280-10-50-30

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Subparagraph (f)
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Reference 5: http://www.xbrl.org/2003/role/exampleRef
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-Name Accounting Standards Codification
-Section 50
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-URI https://asc.fasb.org//1943274/2147482810/280-10-50-31

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

STOCKHOLDERS’ EQUITY - Restricted Stock Units Outstanding (Details) - Restricted stock units shares in Thousands	9 Months Ended
	Sep. 29, 2023 $ / shares shares
Number of Shares
Beginning balance (in shares) \| shares	3,499
Granted (in shares) \| shares	2,412
Vested (in shares) \| shares	(2,201)
Forfeited (in shares) \| shares	(257)
Ending balance (in shares) \| shares	3,453
Weighted Average Grant-Date Fair Value Per Share
Beginning balance (in dollars per share) \| $ / shares	$ 8.93
Granted (in dollars per share) \| $ / shares	13.73
Vested (in dollars per share) \| $ / shares	8.86
Forfeited (in dollars per share) \| $ / shares	9.08
Ending balance (in dollars per share) \| $ / shares	$ 12.19

CONVERTIBLE DEBT - Components of Convertible Notes (Details) - 2024 Notes - USD ($) $ in Thousands	Sep. 29, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Principal amount	$ 115,500	$ 115,500
Less: Debt issuance costs, net of amortization	(846)	(1,519)
Carrying amount	$ 114,654	$ 113,981

- 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

NET INCOME (LOSS) PER SHARE - Antidilutive Securities (Details) - shares shares in Thousands	3 Months Ended		9 Months Ended
	Sep. 29, 2023	Sep. 30, 2022	Sep. 29, 2023	Sep. 30, 2022
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potential weighted common shares outstanding excluded from diluted net income (loss) per share (in shares)	7,540	22	198	43
2024 Notes
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potential weighted common shares outstanding excluded from diluted net income (loss) per share (in shares)	3,650	0	0	0
Restricted stock units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potential weighted common shares outstanding excluded from diluted net income (loss) per share (in shares)	3,465	22	198	43
Stock purchase rights under the ESPP
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potential weighted common shares outstanding excluded from diluted net income (loss) per share (in shares)	425	0	0	0

SEGMENT INFORMATION - Narrative (Details)	9 Months Ended
SEGMENT INFORMATION - Narrative (Details)	Sep. 29, 2023 segment
Segment Reporting [Abstract]
Number of operating segments	2

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 29, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 75,622	$ 89,586
Short-term investments	6,305	0
Accounts receivable, net	110,345	108,427
Inventories	103,748	120,949
Prepaid expenses and other current assets	33,117	26,337
Total current assets	329,137	345,299
Property and equipment, net	36,960	39,814
Operating lease right-of-use assets	21,604	25,469
Goodwill	237,161	237,739
Other non-current assets	48,949	61,697
Total assets	673,811	710,018
Current liabilities:
Convertible debt, current	114,654	113,981
Other debts, current	4,820	4,756
Accounts payable	47,123	67,455
Deferred revenue	56,325	62,383
Operating lease liabilities, current	6,511	6,773
Other current liabilities	45,786	66,724
Total current liabilities	275,219	322,072
Other debts, non-current	9,992	11,161
Operating lease liabilities, non-current	20,019	24,110
Other non-current liabilities	27,781	28,169
Total liabilities	333,011	385,512
Commitments and contingencies (Note 11)
Stockholders’ equity:
Preferred stock, $0.001 par value, 5,000 shares authorized; no shares issued or outstanding	0	0
Common stock, $0.001 par value, 150,000 shares authorized; 112,171 and 109,871 shares issued and outstanding at September 29, 2023 and December 31, 2022, respectively	112	110
Additional paid-in capital	2,399,282	2,380,651
Accumulated deficit	(2,046,416)	(2,046,569)
Accumulated other comprehensive loss	(12,178)	(9,686)
Total stockholders’ equity	340,800	324,506
Total liabilities and stockholders’ equity	$ 673,811	$ 710,018

STOCKHOLDERS’ EQUITY - Share-based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 29, 2023	Sep. 30, 2022	Sep. 29, 2023	Sep. 30, 2022
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation	$ 7,241	$ 6,460	$ 20,724	$ 19,621
Cost of revenue
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation	606	607	1,895	1,691
Research and development expense
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation	2,152	2,109	5,982	5,988
Selling, general and administrative expense
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation	$ 4,483	$ 3,744	$ 12,847	$ 11,942

BASIS OF PRESENTATION (Policies)	9 Months Ended
BASIS OF PRESENTATION (Policies)	Sep. 29, 2023
Accounting Policies [Abstract]
Use of Estimates	The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates.
Segment Information	Operating segments are defined as components of an enterprise that engage in business activities for which separate financial information is available and evaluated regularly by the Company’s Chief Operating Decision Maker (the “CODM”), which for the Company is its Chief Executive Officer, in deciding how to allocate resources and assess performance. Based on the internal reporting structure, the Company consists of two operating segments: Video and Broadband. The operating segments were determined based on the nature of the products offered. The Video segment provides video processing, production and playout solutions and services worldwide to broadcast and media companies, new streaming media companies, broadband operators, and satellite and telecommunications (“telco”) Pay-TV service providers. The Broadband segment provides broadband access solutions and related services to broadband operators globally. A measure of assets by segment is not applicable as segment assets are not included in the discrete financial information provided to the CODM.
Fair Value Measurements	The applicable accounting guidance establishes a framework for measuring fair value and requires disclosure about the fair value measurements of assets and liabilities. This guidance defines fair value as the exchange price that would be received for an asset or paid to transfer a liability, in the principal or most advantageous market for the asset or liability, in an orderly transaction between market participants on the measurement date. Valuation techniques used to measure fair value must maximize the use of observable inputs and minimize the use of unobservable inputs. This guidance requires the Company to classify and disclose assets and liabilities measured at fair value on a recurring basis, as well as fair value measurements of assets and liabilities measured on a nonrecurring basis in periods subsequent to initial measurement, in a three-tier fair value hierarchy as follows: •Level 1 - Observable inputs that reflect quoted prices for identical assets or liabilities in active markets. •Level 2 - Observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities, quoted prices in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. •Level 3 - Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities.

- Definition

Disclosure of accounting policy for segment reporting.

+ References + Details

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 29, 2023	Sep. 30, 2022	Sep. 29, 2023	Sep. 30, 2022
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ (6,495)	$ 8,740	$ 153	$ 22,051
Other comprehensive income (loss) before tax:
Change in foreign currency translation adjustments	(5,052)	(8,840)	(2,426)	(18,150)
Other comprehensive loss before tax	(5,052)	(8,840)	(2,426)	(18,150)
Provision for income taxes	163	523	66	891
Other comprehensive loss, net of tax	(5,215)	(9,363)	(2,492)	(19,041)
Total comprehensive income (loss)	$ (11,710)	$ (623)	$ (2,339)	$ 3,010

- Definition

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

+ References

+ Details

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Sep. 29, 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

SEGMENT INFORMATION - Schedule of Financial Information by Reportable Segments (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 29, 2023	Sep. 30, 2022	Sep. 29, 2023	Sep. 30, 2022
Segment Reporting Information [Line Items]
Revenue	$ 127,203	$ 155,738	$ 440,815	$ 460,623
Operating income (loss)	(8,603)	11,424	12,539	29,042
Operating Segments
Segment Reporting Information [Line Items]
Revenue	127,203	155,738	440,815	460,623
Operating income (loss)	78	18,210	36,921	50,890
Operating Segments \| Video
Segment Reporting Information [Line Items]
Revenue	51,397	63,824	167,562	205,881
Operating income (loss)	(6,050)	2,907	(7,386)	17,317
Operating Segments \| Broadband
Segment Reporting Information [Line Items]
Revenue	75,806	91,914	273,253	254,742
Operating income (loss)	$ 6,128	$ 15,303	$ 44,307	$ 33,573

- 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
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-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
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-URI https://asc.fasb.org//1943274/2147479941/924-10-S99-1

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+ Details

CONTRACT ASSETS AND DEFERRED REVENUE (Tables)

9 Months Ended

Sep. 29, 2023

Revenue from Contract with Customer [Abstract]

Schedule of Contract Assets and Deferred Revenue

Contract assets and deferred revenue consisted of the following:


	As of
(in thousands)	September 29, 2023		December 31, 2022
Contract assets	$	4,396	$	5,580
Deferred revenue	$	71,121	$	80,471

SEGMENT INFORMATION (Tables)

9 Months Ended

Sep. 29, 2023

Segment Reporting [Abstract]

Schedule of Financial Information by Reportable Segments

The following table provides summary financial information by reportable segment:


	Three Months Ended				Nine Months Ended
(in thousands)	September 29, 2023		September 30, 2022		September 29, 2023		September 30, 2022
Video
Revenue	$	51,397	$	63,824	$	167,562	$	205,881

Operating income (loss)	(6,050)		2,907		(7,386)		17,317
Broadband
Revenue	$	75,806	$	91,914	$	273,253	$	254,742

Operating income	6,128		15,303		44,307		33,573
Total
Revenue	$	127,203	$	155,738	$	440,815	$	460,623

Operating income	78		18,210		36,921		50,890

Schedule of Reconciliation of Operating Income from Segments to Consolidated

A reconciliation of the Company’s consolidated segment operating income to consolidated income before income taxes is as follows:


	Three Months Ended				Nine Months Ended
(in thousands)	September 29, 2023		September 30, 2022		September 29, 2023		September 30, 2022
Total consolidated segment operating income	$	78	$	18,210	$	36,921	$	50,890
Unallocated corporate expenses(1)	(1,440)		(326)		(3,658)		(2,227)
Stock-based compensation	(7,241)		(6,460)		(20,724)		(19,621)
Consolidated income (loss) from operations	(8,603)		11,424		12,539		29,042
Non-operating expense, net	(276)		(1,402)		(2,211)		107
Income (loss) before income taxes	$	(8,879)	$	10,022	$	10,328	$	29,149

Schedule of Disaggregation of Revenue

The following table provides a summary of total revenues disaggregated by type:


	Three Months Ended				Nine Months Ended
(in thousands)	September 29, 2023		September 30, 2022		September 29, 2023		September 30, 2022

Product sales	$	76,133	$	105,602	$	283,551	$	313,390
Professional services	8,627		10,839		27,130		37,903
Total Appliance and integration	84,760		116,441		310,681		351,293
SaaS	12,540		8,862		37,707		24,168
Support services	29,903		30,435		92,427		85,162
Total SaaS and services	42,443		39,297		130,134		109,330
Total revenue	$	127,203	$	155,738	$	440,815	$	460,623

Schedule of Net Revenue by Geographic Region

The following table provides a summary of total revenues by geographic region:


	Three Months Ended				Nine Months Ended
(in thousands)	September 29, 2023		September 30, 2022		September 29, 2023		September 30, 2022

United States (1)	$	80,501	$	89,940	$	288,150	$	282,927
Other countries (1)	46,702		65,798		152,665		177,696
Total revenue	$	127,203	$	155,738	$	440,815	$	460,623

(1) Revenue is attributed to countries based on the location of the customer.

COMMITMENTS AND CONTINGENCIES	9 Months Ended
COMMITMENTS AND CONTINGENCIES	Sep. 29, 2023
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Legal proceedings From time to time, the Company is involved in lawsuits as well as subject to various legal proceedings, claims, threats of litigation, and investigations in the ordinary course of business, including claims of alleged infringement of third-party patents and other intellectual property rights, commercial, employment, and other matters. The Company assesses potential liabilities in connection with each lawsuit and threatened lawsuits and accrues an estimated loss for these loss contingencies if both of the following conditions are met: information available prior to issuance of the financial statements indicates that it is probable that a liability has been incurred at the date of the financial statements and the amount of loss can be reasonably estimated. While certain matters to which the Company is a party specify the damages claimed, such claims may not represent reasonably probable losses. Given the inherent uncertainties of litigation, the ultimate outcome of these matters cannot be predicted at this time, nor can the amount of possible loss or range of loss, if any, be reasonably estimated.

Label	Element	Value
Accounting Standards Update [Extensible Enumeration]	us-gaap_AccountingStandardsUpdateExtensibleList	Accounting Standards Update 2020-06 [Member]

- Definition

Indicates amendment to accounting standards.

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-URI https://asc.fasb.org//1943274/2147480016/944-40-65-2

Reference 39: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org//1943274/2147480016/944-40-65-2

Reference 40: http://www.xbrl.org/2003/role/disclosureRef
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Reference 41: http://www.xbrl.org/2003/role/disclosureRef
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Reference 42: http://www.xbrl.org/2003/role/disclosureRef
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Reference 43: http://www.xbrl.org/2003/role/disclosureRef
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Reference 44: http://www.xbrl.org/2003/role/disclosureRef
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Reference 45: http://www.xbrl.org/2003/role/disclosureRef
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Reference 46: http://www.xbrl.org/2003/role/disclosureRef
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Reference 47: http://www.xbrl.org/2003/role/disclosureRef
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Reference 48: http://www.xbrl.org/2003/role/disclosureRef
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Reference 49: http://www.xbrl.org/2003/role/disclosureRef
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Reference 50: http://www.xbrl.org/2003/role/disclosureRef
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Reference 51: http://www.xbrl.org/2003/role/disclosureRef
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Reference 52: http://www.xbrl.org/2003/role/disclosureRef
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Reference 53: http://www.xbrl.org/2003/role/disclosureRef
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Reference 54: http://www.xbrl.org/2003/role/disclosureRef
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Reference 55: http://www.xbrl.org/2003/role/disclosureRef
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Reference 56: http://www.xbrl.org/2003/role/disclosureRef
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Reference 57: http://www.xbrl.org/2003/role/disclosureRef
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Reference 58: http://www.xbrl.org/2003/role/disclosureRef
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Reference 59: http://www.xbrl.org/2003/role/disclosureRef
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Reference 60: http://www.xbrl.org/2003/role/disclosureRef
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Reference 62: http://www.xbrl.org/2003/role/disclosureRef
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Reference 63: http://www.xbrl.org/2003/role/disclosureRef
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Reference 64: http://www.xbrl.org/2003/role/disclosureRef
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Reference 66: http://www.xbrl.org/2003/role/disclosureRef
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Reference 68: http://www.xbrl.org/2003/role/disclosureRef
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Reference 69: http://www.xbrl.org/2003/role/disclosureRef
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Reference 70: http://www.xbrl.org/2003/role/disclosureRef
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Reference 71: http://www.xbrl.org/2003/role/disclosureRef
-Topic 310
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-Section 65
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Reference 72: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 250
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-Section 50
-Paragraph 1
-Subparagraph (c)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-1

+ Details

FAIR VALUE MEASUREMENTS (Tables)

9 Months Ended

Sep. 29, 2023

Fair Value Disclosures [Abstract]

Schedule of Financial Instruments Measured on Recurring Basis

The following table sets forth the fair value of the Company’s financial assets measured at fair value on a recurring basis based on the three-tier fair value hierarchy (in thousands):


	September 29, 2023								December 31, 2022
(in thousands)	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Cash equivalents
Money market funds	$	10,054	$	—	$	—	$	10,054	$	—	$	—	$	—	$	—
Short-term investments
Time deposits	—		6,305		—		6,305		—		—		—		—


Total assets	$	10,054	$	6,305	$	—	$	16,359	$	—	$	—	$	—	$	—

Schedule of Financial Instruments Not Measured on Recurring Basis

The Company’s financial instruments not recorded at fair value on a recurring basis were as follows:


	September 29, 2023								December 31, 2022
	Carrying		Fair Value						Carrying		Fair Value
(in thousands)	Value		Level 1		Level 2		Level 3		Value		Level 1		Level 2		Level 3

2024 Notes	$	114,654	$	—	$	139,724	$	—	$	113,981	$	—	$	181,139	$	—

FAIR VALUE MEASUREMENTS - Financial Assets Measured at Fair Value on a Recurring Basis (Details) - Fair Value, Recurring - USD ($) $ in Thousands	Sep. 29, 2023	Dec. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	$ 16,359	$ 0
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	10,054	0
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	6,305	0
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	0	0
Time deposits
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	6,305	0
Time deposits \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	0	0
Time deposits \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	6,305	0
Time deposits \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	0	0
Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	10,054	0
Money market funds \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	10,054	0
Money market funds \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	0	0
Money market funds \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	$ 0	$ 0

NET INCOME (LOSS) PER SHARE (Tables)

9 Months Ended

Sep. 29, 2023

Earnings Per Share [Abstract]

Schedule of Numerators and Denominators of Basic and Diluted Net Income Per Share Computations

The following table sets forth the computation of the basic and diluted net income per share:


	Three Months Ended				Nine Months Ended
(in thousands, except per share amounts)	September 29, 2023		September 30, 2022		September 29, 2023		September 30, 2022
Numerator:
Net income (loss)	$	(6,495)	$	8,740	$	153	$	22,051
Denominator:
Weighted average number of shares outstanding:
Basic	112,031		105,228		111,431		104,617
2022 Notes	—		3,078		—		2,718
2024 Notes	—		2,678		4,919		1,569
Stock options	—		218		—		238
Restricted stock units	—		1,920		1,515		1,725
Stock purchase rights under the ESPP	—		63		45		44
Diluted	112,031		113,185		117,910		110,911
Net income (loss) per share:
Basic	$	(0.06)	$	0.08	$	—	$	0.21
Diluted	$	(0.06)	$	0.08	$	—	$	0.20

Schedule of Antidilutive Securities

The following table sets forth the potential dilutive shares that were excluded from the computation of diluted net income (loss) per share, because their effects were anti-dilutive:


	Three Months Ended		Nine Months Ended
(in thousands)	September 29, 2023	September 30, 2022	September 29, 2023	September 30, 2022

2024 Notes	3,650	—	—	—

Restricted stock units	3,465	22	198	43
Stock purchase rights under the ESPP	425	—	—	—
Total	7,540	22	198	43

SEGMENT INFORMATION - Geographic Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 29, 2023	Sep. 30, 2022	Sep. 29, 2023	Sep. 30, 2022
Segment Reporting Information [Line Items]
Total revenue	$ 127,203	$ 155,738	$ 440,815	$ 460,623
United States
Segment Reporting Information [Line Items]
Total revenue	80,501	89,940	288,150	282,927
Other countries
Segment Reporting Information [Line Items]
Total revenue	$ 46,702	$ 65,798	$ 152,665	$ 177,696

- Definition

+ References

+ Details

OTHER FINANCIAL STATEMENT INFORMATION - Prepaid Expenses and Other Current Assets (Details) - USD ($) $ in Thousands	Sep. 29, 2023	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Prepaid expenses	$ 13,173	$ 5,558
Contract assets	4,396	5,583
Other current assets	15,548	15,196
Total	$ 33,117	$ 26,337

STOCKHOLDERS’ EQUITY - Narrative (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 29, 2023	Feb. 28, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock repurchase program, authorized amount		$ 100.0
Stock repurchased and retired during period (in shares)	0
Remaining stock repurchase authorization amount	$ 94.9
Stock Plan 1995
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock reserved for issuance (in shares)	8,851,861
Shares available for grant (in shares)	5,585,931
Director Option Plans 2002
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock reserved for issuance (in shares)	637,671
Shares available for grant (in shares)	451,077
Stock purchase rights under the ESPP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock reserved for issuance under the ESPP (in shares)	650,000

OTHER FINANCIAL STATEMENT INFORMATION (Tables)

9 Months Ended

Sep. 29, 2023

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Accounts Receivable, Net

The following tables provide details of selected balance sheet components:


Accounts receivable, net:	As of
(in thousands)	September 29, 2023		December 31, 2022
Accounts receivable	$	113,029	$	110,576
Less: allowances for expected credit losses and sales returns	(2,684)		(2,149)
Total	$	110,345	$	108,427

Schedule of Inventories


Inventories:	As of
(in thousands)	September 29, 2023		December 31, 2022
Finished goods	$	58,377	$	65,308
Raw materials	34,782		46,081
Work-in-process	5,046		3,251
Service-related spares	5,543		6,309
Total	$	103,748	$	120,949

Schedule of Prepaid Expenses and Other Current Assets


Prepaid expenses and other current assets:	As of
(in thousands)	September 29, 2023		December 31, 2022
Prepaid expenses	$	13,173	$	5,558
Contract assets	4,396		5,583
Other current assets	15,548		15,196
Total	$	33,117	$	26,337

Schedule of Property and Equipment, Net


Property and equipment, net:	As of
(in thousands)	September 29, 2023		December 31, 2022
Machinery and equipment	$	72,208	$	75,589
Capitalized software	26,975		30,588
Leasehold improvements	39,720		39,199
Furniture and fixtures	2,502		2,739
Construction-in-progress	2,875		2,691
Property and equipment, gross	144,280		150,806
Less: accumulated depreciation and amortization	(107,320)		(110,992)
Total	$	36,960	$	39,814

Schedule of Other Current Liabilities


Other current liabilities:	As of
(in thousands)	September 29, 2023		December 31, 2022
Accrued employee compensation and related expenses	$	18,405	$	29,675
Other	27,381		37,049
Total	$	45,786	$	66,724

FAIR VALUE MEASUREMENTS - Financial Instruments Not Recorded at Fair Value on a Recurring Basis (Details) - 2024 Notes - USD ($) $ in Thousands	Sep. 29, 2023	Dec. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Carrying value	$ 114,654	$ 113,981
Fair Value, Nonrecurring \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	0
Fair Value, Nonrecurring \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	139,724	181,139
Fair Value, Nonrecurring \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	$ 0	$ 0

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 29, 2023	Sep. 30, 2022	Sep. 29, 2023	Sep. 30, 2022
Revenue:
Total net revenue	$ 127,203	$ 155,738	$ 440,815	$ 460,623
Cost of revenue:
Total cost of revenue	65,519	77,134	210,137	230,436
Total gross profit	61,684	78,604	230,678	230,187
Operating expenses:
Research and development	30,316	30,466	96,030	89,219
Selling, general and administrative	39,245	36,379	121,300	109,790
Restructuring and related charges	726	335	809	2,136
Total operating expenses	70,287	67,180	218,139	201,145
Income (loss) from operations	(8,603)	11,424	12,539	29,042
Interest expense, net	(619)	(1,284)	(2,125)	(4,111)
Other income (expense), net	343	(118)	(86)	4,218
Income (loss) before income taxes	(8,879)	10,022	10,328	29,149
Provision for (benefit from) income taxes	(2,384)	1,282	10,175	7,098
Net income (loss)	$ (6,495)	$ 8,740	$ 153	$ 22,051
Net income (loss) per share:
Basic (in dollars per share)	$ (0.06)	$ 0.08	$ 0	$ 0.21
Diluted (in dollars per share)	$ (0.06)	$ 0.08	$ 0	$ 0.20
Weighted average shares outstanding:
Basic (in shares)	112,031	105,228	111,431	104,617
Diluted (in shares)	112,031	113,185	117,910	110,911
Appliance and integration
Revenue:
Total net revenue	$ 84,760	$ 116,441	$ 310,681	$ 351,293
Cost of revenue:
Total cost of revenue	48,992	64,932	166,177	193,655
SaaS and service
Revenue:
Total net revenue	42,443	39,297	130,134	109,330
Cost of revenue:
Total cost of revenue	$ 16,527	$ 12,202	$ 43,960	$ 36,781

CONVERTIBLE DEBT - Interest Expense (Details) - 2024 Notes - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 29, 2023	Sep. 30, 2022	Sep. 29, 2023	Sep. 30, 2022
Debt Instrument [Line Items]
Contractual interest expense	$ 578	$ 578	$ 1,734	$ 1,734
Amortization of debt issuance costs	226	220	673	654
Total interest expense recognized	$ 804	$ 798	$ 2,407	$ 2,388

- 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

STOCKHOLDERS’ EQUITY

9 Months Ended

Sep. 29, 2023

Equity [Abstract]

STOCKHOLDERS’ EQUITY

Share-based Compensation Plans

The following table sets forth the detailed allocation of the share-based compensation expense which was included in the Company’s condensed consolidated statements of operations:


	Three Months Ended				Nine Months Ended
(in thousands)	September 29, 2023		September 30, 2022		September 29, 2023		September 30, 2022
Cost of revenue	$	606	$	607	$	1,895	$	1,691
Research and development expense	2,152		2,109		5,982		5,988
Selling, general and administrative expense	4,483		3,744		12,847		11,942
Total	$	7,241	$	6,460	$	20,724	$	19,621

Restricted Stock Units:


(in thousands, except per share amounts)	Number of Shares	Weighted Average Grant-Date Fair Value Per Share
Balance at December 31, 2022	3,499	$	8.93
Granted	2,412	13.73
Vested	(2,201)	8.86
Forfeited	(257)	9.08
Balance at September 29, 2023	3,453	$	12.19

The Company’s stock benefit plans include the 2002 Employee Stock Purchase Plan (“ESPP”) and current active stock plans adopted in 1995 and 2002 (“1995 Stock Plan” and “2002 Director Plan”, respectively). Refer to Note 13, “Employee Benefit Plans” of Notes to Consolidated Financial Statements in the 2022 Form 10-K for details pertaining to each plan.

The Company’s stockholders approved an amendment to the ESPP at the 2023 annual meeting of stockholders to increase the number of shares of common stock reserved for issuance under the ESPP by 650,000 shares. As of September 29, 2023, an aggregate of 8,851,861 shares of common stock were reserved for issuance under the 1995 Stock Plan, of which 5,585,931 shares remained available for future grants. As of September 29, 2023, an aggregate of 637,671 shares of common stock were reserved for issuance under the 2002 Director Plan, of which 451,077 shares remained available for future grants.

Share Repurchase Program

In February 2022, the Board of Directors of the Company (“Board”) authorized the Company to repurchase up to $100 million of the Company’s outstanding shares of common stock through February 2025. The Company is authorized to repurchase, from time-to-time, shares of its outstanding common stock through open market purchases and 10b5-1 trading plans, in accordance with applicable rules and regulations, at such time and such prices as management may decide. The program does not obligate the Company to repurchase any specific number of shares and may be discontinued at any time. The actual timing and amount of repurchases are subject to business and market conditions, corporate and regulatory requirements, stock price, acquisition opportunities and other factors.

There were no repurchase activities during the nine months ended September 29, 2023. As of September 29, 2023, approximately $94.9 million of the share repurchase authorization remained available for repurchases under this program.

- Definition

The entire disclosure for equity.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
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+ Details

OTHER FINANCIAL STATEMENT INFORMATION - Inventories (Details) - USD ($) $ in Thousands	Sep. 29, 2023	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Finished goods	$ 58,377	$ 65,308
Raw materials	34,782	46,081
Work-in-process	5,046	3,251
Service-related spares	5,543	6,309
Total	$ 103,748	$ 120,949

SEGMENT INFORMATION - Summary of Total Revenues Disaggregated by Type (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 29, 2023	Sep. 30, 2022	Sep. 29, 2023	Sep. 30, 2022
Segment Reporting Information [Line Items]
Total revenue	$ 127,203	$ 155,738	$ 440,815	$ 460,623
Appliance and integration
Segment Reporting Information [Line Items]
Total revenue	84,760	116,441	310,681	351,293
Product sales
Segment Reporting Information [Line Items]
Total revenue	76,133	105,602	283,551	313,390
Professional services
Segment Reporting Information [Line Items]
Total revenue	8,627	10,839	27,130	37,903
SaaS and service
Segment Reporting Information [Line Items]
Total revenue	42,443	39,297	130,134	109,330
SaaS
Segment Reporting Information [Line Items]
Total revenue	12,540	8,862	37,707	24,168
Support services
Segment Reporting Information [Line Items]
Total revenue	$ 29,903	$ 30,435	$ 92,427	$ 85,162

- Definition

+ References

+ Details