Fair Value of Financial Instruments (Tables)

12 Months Ended

Dec. 28, 2024

Fair Value Disclosures [Abstract]

Summary of valuation of the financial instruments

The following summarizes the valuation of the Company’s financial instruments (in thousands). The tables do not include either cash on hand or assets and liabilities that are measured at historical cost or any basis other than fair value.

	Fair Value Measurements at December 28, 2024 Using				Total
Description	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)
Cash equivalents:
Money market funds	$	188,057	$	—	$	188,057
Total cash equivalents	$	188,057	$	—	$	188,057
Short-term investments:
Corporate debt securities	$	—	$	13,514	$	13,514
Government debt securities	—		87,040		87,040
Total short-term investments	$	—	$	100,554	$	100,554
Total	$	188,057	$	100,554	$	288,611

	Fair Value Measurements at December 30, 2023 Using				Total
Description	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)
Cash equivalents:
Money market funds	$	137,195	$	—	$	137,195
Total cash equivalents	$	137,195	$	—	$	137,195
Short-term investments:
Corporate debt securities	$	—	$	130,047	$	130,047
Government debt securities	—		81,673		81,673
Total short-term investments	$	—	$	211,720	$	211,720
Total	$	137,195	$	211,720	$	348,915

Components of available for sale investments

The following summarizes the components of available-for-sale investments:

									Reported As
As of December 28, 2024	Amortized Cost Basis		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value		Cash Equivalent		Marketable Securities
Corporate debt securities	$	13,517	$	12	$	(15)	$	13,514	$	—	$	13,514
Government debt securities	86,949		141		(49)		87,040		—		87,040
Money market funds	188,057		—		—		188,057		188,057		—
Total	$	288,523	$	153	$	(64)	$	288,611	$	188,057	$	100,554

									Reported As
As of December 30, 2023	Amortized Cost Basis		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value		Cash Equivalent		Marketable Securities
Corporate debt securities	$	130,858	$	69	$	(880)	$	130,047	$	—	$	130,047
Government debt securities	82,091		137		(555)		81,673		—		81,673
Money market funds	137,195		—		—		137,195		137,195		—
Total	$	350,144	$	206	$	(1,435)	$	348,915	$	137,195	$	211,720

Schedule of maturities of the company's available-for-sale investments and money market funds

The following summarizes the contractual underlying maturities of the Company’s available-for-sale investments at December 28, 2024 (in thousands):

	Cost		Fair Value
Due in one year or less	$	44,953	$	45,009
Due after one year through five years	55,513		55,546
	$	100,466	$	100,554

Schedule of available-for-sale investments in continuous unrealized loss position

The available-for-sale investments that were in a continuous unrealized loss position, aggregated by length of time that individual securities have been in a continuous loss position, were as follows (in thousands):

	Less Than 12 Months				12 Months or Greater				Total
As of December 28, 2024	Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses
Corporate debt securities	$	—	$	—	$	4,187	$	(15)	$	4,187	$	(15)
Government debt securities	26,318		(49)		—		—		26,318		(49)
	$	26,318	$	(49)	$	4,187	$	(15)	$	30,505	$	(64)

	Less Than 12 Months				12 Months or Greater				Total
As of December 30, 2023	Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses
Corporate debt securities	$	12,449	$	(13)	$	95,760	$	(867)	$	108,209	$	(880)
Government debt securities	28,255		(115)		31,122		(440)		59,377		(555)
	$	40,704	$	(128)	$	126,882	$	(1,307)	$	167,586	$	(1,435)