Basic and Diluted Net Loss Per Share

9 Months Ended

Sep. 28, 2025

Basic and Diluted Net Loss Per Share [Abstract]

Basic and Diluted Net Loss Per Share

(14) Basic and Diluted Net Loss Per Share

The Company uses the two-class method to calculate net loss per share. No dividends were declared or paid in the thirteen and thirty-nine week periods ended September 28, 2025 and September 29, 2024.

The following table sets forth the computation of the Company’s basic and diluted net loss per share attributable to common stockholders for the thirteen and thirty-nine week periods ended September 28, 2025 and September 29, 2024 (in thousands, except share and per share amounts):

	Thirteen Weeks Ended						Thirty-Nine Weeks Ended
	September 28, 2025			September 29, 2024			September 28, 2025			September 29, 2024
Numerator:
Net loss from continuing operations	$	(15,804	)	$	(77,958	)	$	(30,099	)	$	(101,433	)
Net loss from discontinued operations		(1,100	)		—			(1,100	)		(2,007	)
Net loss	$	(16,904	)	$	(77,958	)	$	(31,199	)	$	(103,440	)
Denominator:
Weighted average common shares outstanding, basic and diluted		84,904,228			75,348,627			82,036,790			61,868,747
Net loss per share, basic and diluted:
Continuing operations	$	(0.19	)	$	(1.03	)	$	(0.37	)	$	(1.64	)
Discontinued operations		(0.01	)		—			(0.01	)		(0.03	)
Net loss	$	(0.20	)	$	(1.03	)	$	(0.38	)	$	(1.67	)

The computation of basic net loss per share attributable to common stockholders is inclusive of warrants with an insignificant exercise price. The Company’s calculation of  the weighted average shares outstanding is inclusive of 234,610 warrants with an insignificant exercise price (which assumes that the warrants were outstanding as of the beginning of the period or the date of the grant, whichever is earlier) for each of the thirteen and thirty-nine week periods ended September 28, 2025, respectively. The computation of diluted net loss per share attributable to common stockholders is the same for the thirteen and thirty-nine week periods ended September 28, 2025 and September 29, 2024 because the inclusion of potential shares of common stock would have been anti-dilutive for the periods presented.

The following table presents the potential common shares outstanding that were excluded from the computation of diluted net loss per share of common stock as of the periods presented because including them would have been anti-dilutive:

	Thirteen Weeks Ended				Thirty-Nine Weeks Ended
	September 28, 2025		September 29, 2024		September 28, 2025		September 29, 2024
Common stock warrants		25,670,265		31,670,265		25,670,265		31,670,265
Stock options and RSUs issued and outstanding		34,256,501		14,170,385		34,256,501		14,170,385
Convertible notes		77,821,528		58,579,636		77,821,528		58,579,636
Third SAFE Agreement		2,750,000		—		2,750,000		—
Forward Purchase Agreements		6,720,000		—		6,720,000		—
Deferred consideration shares		6,666,666		—		6,666,666		—
Total potential common shares excluded from diluted net loss per share		153,884,960		104,420,286		153,884,960		104,420,286