LEASES (Tables)

9 Months Ended

Sep. 27, 2025

Leases [Abstract]

Schedule of Assets and Liabilities Related to Operating and Finance Leases

The following table presents the assets and liabilities related to operating and finance leases (in thousands):

	Balance Sheet Location	September 27, 2025		December 28, 2024
Assets:
Operating lease assets	Operating lease right-of-use assets	$	126,015	$	78,279
Finance lease assets	Property and equipment	16,888		5,625
Total lease assets		$	142,903	$	83,904
Liabilities:
Current
Operating lease liabilities	Operating lease liabilities	$	16,017	$	19,621
Finance lease liabilities	Current maturities of long-term debt	1,622		2,256
Non-current
Operating lease liabilities	Operating lease liabilities, non-current	131,455		73,586
Finance lease liabilities	Long-term debt, net of current portion	269		1,190
Total lease liabilities		$	149,363	$	96,653

Schedule of Lease Costs

The following table presents the components of lease costs (in thousands):

	Three Months Ended				Nine Months Ended
	September 27, 2025		September 28, 2024		September 27, 2025		September 28, 2024
Operating lease costs	$	6,018	$	5,067	$	17,157	$	14,515
Finance lease cost - amortization of right-of-use assets	892		516		1,888		1,548
Finance lease cost - interest on lease liabilities	13		25		48		88
Short-term lease cost	374		89		904		256
Variable lease cost	1,775		1,406		4,685		3,403
Sublease income	—		(207)		(7)		(620)
Total lease cost	$	9,072	$	6,896	$	24,675	$	19,190

The following table presents lease terms and discount rates:

	September 27, 2025		September 28, 2024
Weighted average remaining lease term:
Operating leases	8.53 years		6.35 years
Finance leases	2.30 years		3.21 years
Weighted average discount rate:
Operating leases	6.08	%	6.00	%
Finance leases	2.63	%	2.35	%

The following table presents supplemental cash flow information related to our leases (in thousands):

	Nine Months Ended
	September 27, 2025		September 28, 2024
Cash paid for amounts included in measurement of liabilities:
Operating cash flows used in operating leases	$	17,004	$	14,344
Operating cash flows used in finance leases	48		88
Financing cash flows used in finance leases	14,753		3,206
Right-of-use assets obtained in exchange for new lease liabilities:
Finance leases	$	—	$	1,362
Operating leases(1)	66,520		16,235

_________________________

(1)During the three months ended September 27, 2025, we extended the lease term of our headquarters in Austin, Texas and extended the term of the service agreement related to one of our distribution facilities. This resulted in an increase to right-of-use assets and corresponding lease liabilities of approximately $50.4 million recorded during the quarter.

Schedule of Operating Lease Liability, Maturity

The following table presents the minimum lease payment obligations of operating and finance lease liabilities (leases with terms in excess of one year) for the next five years and thereafter as of September 27, 2025 (in thousands):

	Operating Leases		Finance Leases		Total
2025	$	6,753	$	712	$	7,465
2026	19,871		973		20,844
2027	21,786		142		21,928
2028	22,528		106		22,634
2029	21,621		—		21,621
2030	21,451		—		21,451
Thereafter	82,757		—		82,757
Total lease payments	196,767		1,933		198,700
Less: Effect of discounting to net present value	49,295		42		49,337
Present value of lease liabilities	$	147,472	$	1,891	$	149,363

Schedule of Finance Lease Liability, Maturity

The following table presents the minimum lease payment obligations of operating and finance lease liabilities (leases with terms in excess of one year) for the next five years and thereafter as of September 27, 2025 (in thousands):

	Operating Leases		Finance Leases		Total
2025	$	6,753	$	712	$	7,465
2026	19,871		973		20,844
2027	21,786		142		21,928
2028	22,528		106		22,634
2029	21,621		—		21,621
2030	21,451		—		21,451
Thereafter	82,757		—		82,757
Total lease payments	196,767		1,933		198,700
Less: Effect of discounting to net present value	49,295		42		49,337
Present value of lease liabilities	$	147,472	$	1,891	$	149,363