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Property and Equipment
 9 Months Ended
Sep. 28, 2025
Property, Plant and Equipment [Abstract]  
Property and Equipment Property and Equipment
Property and equipment are stated at cost, net of accumulated depreciation. Depreciation is computed on a straight-line basis over the estimated useful lives of the assets. Property and equipment as of September 28, 2025 and December 29, 2024, consisted of the following (in thousands).
September 28, 2025December 29, 2024
Machinery and equipment$128,455 $112,635 
Building and leasehold improvements41,947 33,658 
Office equipment and software5,927 5,411 
Furniture and fixtures17,166 16,821 
Land5,166 1,433 
Construction in process18,285 18,990 
Total property and equipment216,946 188,948 
Less: accumulated depreciation(42,361)(21,001)
Property and equipment, net$174,585 $167,947 
The following table summarizes the depreciation and amortization expenses related to property and equipment, which are recorded within cost of revenue, research and development expense and selling, general and administrative expense in the Condensed Consolidated Statements of Operations (in thousands).
Fiscal Quarters EndedFiscal Years-to-Date Ended
September 28, 2025September 29, 2024September 28, 2025September 29, 2024
Depreciation expense$7,700 $4,683 $21,538 $32,643 
In connection with our strategic realignment in 2023, we recognized accelerated depreciation expenses of approximately $18.4 million for Fab1 equipment in the first quarter of 2024, of which approximately $18.3 million and $0.1 million were recorded as research and development expense, and selling, general and administrative expense, respectively, in the Condensed Consolidated Statements of Operations. After the first quarter of 2024 and thereafter, we did not record any accelerated depreciation expenses for Fab1 equipment.
Fab1 Long-Lived Asset Disposals
During the fiscal quarter and fiscal year-to-date ended September 29, 2024, we recorded $3.1 million and $38.2 million, respectively, of loss on disposal of our Fab1 long-lived assets, including machinery and equipment, leasehold improvements and other assets located in Fremont, California as a part of the 2024 Restructuring Plan (as defined below) and it was recorded as Restructuring Cost in the Condensed Consolidated Statement of Operations. See Note 13 “Restructuring Costs” for more information.