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Share-Based Compensation (Tables)
3 Months Ended
Apr. 03, 2022
Share-based Payment Arrangement [Abstract]  
Schedule of Black-Scholes Option Pricing Model Assumptions
Three Months Ended
April 3, 2022
Expected volatility:47.2%
Expected term (in years):
6.25
Risk-free interest rate:1.9%
Schedule of Stock Option Activity
The following table summarizes our stock option activity during the three months ended April 3, 2022:
Number of Stock Options
(in thousands)
Weighted Average
Exercise Price Per Share
Aggregate Intrinsic Value
(in thousands)
Weighted-Average Remaining Contractual Life
Balance outstanding as of January 2, 2022986 $14.29 
Granted549 $11.24 
Exercised— $— 
Forfeited or canceled(99)$13.25 
Balance outstanding as of April 3, 20221,436 $13.20 $— 7.4 years
Balance vested and exercisable as of April 3, 202222 $14.00 $— 0.2 years
Schedule of Restricted Common Stock Unit Activity
The following table summarizes our restricted common stock unit activity during the three months ended April 3, 2022:
Number of Restricted Common Stock Units
(in thousands)
Weighted Average Grant Date Fair Value Per Share
Balance outstanding as of January 2, 20221,745 $8.34 
Granted273 $11.24 
Vested— $— 
Forfeited or canceled(40)$16.57 
Balance outstanding as of April 3, 20221,978 $8.52 
Schedule of Black-Scholes ESPP Pricing Model Assumptions
Three Months Ended
April 3, 2022
Expected volatility:47.2%
Expected term (in years):0.50
Risk-free interest rate:0.60%
Weighted average grant-date fair value per share
$3.20
Schedule of Share-based Compensation Expense Share-based compensation expense was allocated in the condensed consolidated statements of operations as follows:
Three Months Ended
April 3, 2022April 4, 2021
Cost of revenue$1,040 $— 
Research and development207 — 
Selling, general and administrative expenses1,760 
$3,007 $