Net (Loss) Income Per Share

9 Months Ended

Sep. 27, 2025

Basic net (loss) income per share is computed by dividing net (loss) income by the weighted-average number of shares outstanding during the period. Diluted net (loss) income per share gives effect to all potentially dilutive common equivalent shares outstanding for the period under the treasury stock method.

Basic and diluted net (loss) income per share were as follows:


	Thirteen Weeks Ended				Thirty-Nine Weeks Ended
(in thousands, except per share data)	September 27, 2025		September 28, 2024		September 27, 2025		September 28, 2024
Numerator
Net (loss) income	$	(14,003)	$	21,681	$	191	$	30,926
Denominator
Basic weighted average shares outstanding	155,770		160,856		156,939		161,301
Dilutive effect of employee stock options and awards	—		4,815		6,285		5,940
Diluted weighted average shares outstanding (1)	155,770		165,671		163,224		167,241
Net (loss) income per share (2)
Basic	$	(0.09)	$	0.13	$	0.00	$	0.19
Diluted	$	(0.09)	$	0.13	$	0.00	$	0.18

(1)For the thirteen and thirty-nine weeks ended September 27, 2025, the calculation of diluted net (loss) income per share excludes the effect of 12.5 million and 6.8 million, respectively, of potential shares of common stock relating to awards of stock options and restricted stock units that, if exercised or vested, would have been antidilutive. For the thirteen and thirty-nine weeks ended September 28, 2024, the calculation of diluted net income per share excludes the effect of 3.9 million and 2.9 million, respectively, of potential shares of common stock relating to awards of stock options and restricted stock units that, if exercised or vested, would have been antidilutive.

(2)Due to the differences between quarterly and year-to-date weighted average share counts and the effect of quarterly rounding to the nearest cent per share, the year-to-date calculation of net (loss) income per share may not equal the sum of the quarters.