XML 33 R22.htm IDEA: XBRL DOCUMENT v3.25.3
SEGMENTS
9 Months Ended
Sep. 28, 2025
Segment Reporting [Abstract]  
SEGMENTS 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 and 39-week periods ended September 28, 2025 and September 29, 2024:
For the thirteen weeks endedFor the thirty-nine weeks ended
September 28, 2025September 29, 2024September 28, 2025September 29, 2024
Net sales$138,373 $134,038 $458,078 $462,170 
Cost of goods sold78,534 81,732 264,593 287,512 
Gross profit59,839 52,306 193,485 174,658 
Selling, general, and administrative33,466 30,109 103,119 97,675 
Research and development costs4,715 4,620 13,894 13,743 
Amortization of intangible assets3,456 3,436 10,338 10,307 
Restructuring costs1,360 954 2,178 1,566 
Write-down of assets held for sale— 7,505 — 7,505 
Other operating income975 119 1,232 213 
Total operating expense43,972 46,743 130,761 131,009 
Operating income15,867 5,563 62,724 43,649 
Change in fair value of warrant liability3,019 (1,041)2,939 (7,570)
Change in fair value of earn-out liability1,126 (634)722 (2,341)
Loss on early extinguishment of debt— — — 141 
Interest expense, net11,259 15,010 40,341 39,192 
Total non-operating expense15,404 13,335 44,002 29,422 
Income (loss) before income taxes463 (7,772)18,722 14,227 
Income tax expense (benefit)1,269 (1,484)5,848 (320)
Net income (loss)$(806)$(6,288)$12,874 $14,547