Note 16 - Segments

3 Months Ended

Mar. 30, 2025

Notes to Financial Statements

Segment Reporting Disclosure [Text Block]

16. Segments

The Company operates as one operating segment. The Company's chief operating decision maker ("CODM") is its Chief Executive Officer, who reviews financial information presented on a consolidated basis. The CODM uses consolidated gross margin and net income to assess financial performance and allocate resources. These financial metrics are used by the CODM to make key operating decisions, such as the determination of the rate at which the Company seeks to grow gross margin and the allocation of budget between cost of revenues, sales and marketing, research and development, and general and administrative expenses.

The following table presents selected financial information with respect to the Company’s single operating segment for the 13-week periods ended March 30, 2025 and March 31, 2024

	For the thirteen weeks ended
	March 30, 2025		March 31, 2024
Net sales		$ 153,044		$ 158,636
Cost of goods sold		88,956		106,577
Gross profit		64,088		52,059
Selling, general, and administrative		36,699		32,996
Research and development costs		4,093		4,812
Amortization of intangible assets		3,532		3,436
Restructuring costs		463		615
Other operating income		(42)		(8)
Total operating expense		44,745		41,851
Operating income		19,343		10,208
Change in fair value of warrant liability		(73)		(3,127)
Change in fair value of earn-out liability		(185)		(649)
Loss on early extinguishment of debt		—		141
Interest expense, net		15,708		11,004
Total non-operating expense		15,450		7,369
Income before income taxes		3,893		2,839
Income tax expense (benefit)		1,076		(891)
Net income		$ 2,817		$ 3,730