Leases

9 Months Ended

Sep. 28, 2025

Leases [Abstract]

Leases

LEASES

The table below represents a summary of the balances recorded in the consolidated condensed balance sheets related to the Company’s leases as of September 28, 2025 and December 29, 2024:

	September 28, 2025				December 29, 2024
Balance Sheet Location	Operating Leases		Finance Leases		Operating Leases		Finance Leases
	(in thousands)
Operating lease right-of-use assets	$	77,596			$	76,815
Current portion of operating lease liabilities	$	13,561			$	12,296
Operating lease liabilities	68,692				68,092
Total operating lease liabilities	$	82,253			$	80,388
Property, plant and equipment, net			$	7,857			$	8,079
Accrued expenses			$	2,759			$	2,657
Other long-term liabilities			5,493				5,797
Total finance lease liabilities			$	8,252			$	8,454

As of September 28, 2025, there were no significant leases that had not commenced.

Lease Costs

	Three Months Ended				Nine Months Ended
	September 28, 2025		September 29, 2024		September 28, 2025		September 29, 2024
	(in thousands)
Finance lease cost:
Amortization of right-of-use assets	$	883	$	766	$	2,600	$	2,291
Interest on lease liabilities	137		119		413		328
Operating lease cost	5,152		4,824		15,271		14,635
Short-term lease cost	116		241		412		637
Variable lease cost	1,007		805		2,496		2,140
Total lease cost	$	7,295	$	6,755	$	21,192	$	20,031

Other Supplemental Information

	Three Months Ended				Nine Months Ended
	September 28, 2025		September 29, 2024		September 28, 2025		September 29, 2024
	(in thousands)
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from finance leases	$	132	$	115	$	397	$	316
Operating cash flows from operating leases	4,696		4,377		13,743		12,797
Financing cash flows from finance leases	738		723		2,282		2,160
Right-of-use assets obtained in exchange for new finance lease liabilities	559		780		1,545		2,361
Right-of-use assets obtained in exchange for new operating lease liabilities	691		2,318		6,318		3,217

Lease Term and Discount Rate

The table below presents the weighted average remaining lease terms and discount rates for finance and operating leases as of September 28, 2025 and December 29, 2024:

	September 28, 2025		December 29, 2024
Weighted-average remaining lease term – finance leases (in years)	3.39		3.61
Weighted-average remaining lease term – operating leases (in years)	7.30		7.68
Weighted-average discount rate – finance leases	6.65	%	6.44	%
Weighted-average discount rate – operating leases	6.42	%	6.39	%

Maturity Analysis

A maturity analysis of lease payments under non-cancellable leases is presented as follows:

Fiscal Year	Operating Leases		Finance Leases
	(in thousands)
2025 (excluding the nine months ended September 28, 2025)	$	4,715	$	836
2026	19,115		3,195
2027	16,008		2,531
2028	12,586		1,576
2029	10,973		715
Thereafter	40,384		372
Total future minimum lease payments (undiscounted)	103,781		9,225
Less: Present value discount	(21,528)		(973)
Total lease liabilities	$	82,253	$	8,252

Leases

LEASES

The table below represents a summary of the balances recorded in the consolidated condensed balance sheets related to the Company’s leases as of September 28, 2025 and December 29, 2024:

	September 28, 2025				December 29, 2024
Balance Sheet Location	Operating Leases		Finance Leases		Operating Leases		Finance Leases
	(in thousands)
Operating lease right-of-use assets	$	77,596			$	76,815
Current portion of operating lease liabilities	$	13,561			$	12,296
Operating lease liabilities	68,692				68,092
Total operating lease liabilities	$	82,253			$	80,388
Property, plant and equipment, net			$	7,857			$	8,079
Accrued expenses			$	2,759			$	2,657
Other long-term liabilities			5,493				5,797
Total finance lease liabilities			$	8,252			$	8,454

As of September 28, 2025, there were no significant leases that had not commenced.

Lease Costs

	Three Months Ended				Nine Months Ended
	September 28, 2025		September 29, 2024		September 28, 2025		September 29, 2024
	(in thousands)
Finance lease cost:
Amortization of right-of-use assets	$	883	$	766	$	2,600	$	2,291
Interest on lease liabilities	137		119		413		328
Operating lease cost	5,152		4,824		15,271		14,635
Short-term lease cost	116		241		412		637
Variable lease cost	1,007		805		2,496		2,140
Total lease cost	$	7,295	$	6,755	$	21,192	$	20,031

Other Supplemental Information

	Three Months Ended				Nine Months Ended
	September 28, 2025		September 29, 2024		September 28, 2025		September 29, 2024
	(in thousands)
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from finance leases	$	132	$	115	$	397	$	316
Operating cash flows from operating leases	4,696		4,377		13,743		12,797
Financing cash flows from finance leases	738		723		2,282		2,160
Right-of-use assets obtained in exchange for new finance lease liabilities	559		780		1,545		2,361
Right-of-use assets obtained in exchange for new operating lease liabilities	691		2,318		6,318		3,217

Lease Term and Discount Rate

The table below presents the weighted average remaining lease terms and discount rates for finance and operating leases as of September 28, 2025 and December 29, 2024:

	September 28, 2025		December 29, 2024
Weighted-average remaining lease term – finance leases (in years)	3.39		3.61
Weighted-average remaining lease term – operating leases (in years)	7.30		7.68
Weighted-average discount rate – finance leases	6.65	%	6.44	%
Weighted-average discount rate – operating leases	6.42	%	6.39	%

Maturity Analysis

A maturity analysis of lease payments under non-cancellable leases is presented as follows:

Fiscal Year	Operating Leases		Finance Leases
	(in thousands)
2025 (excluding the nine months ended September 28, 2025)	$	4,715	$	836
2026	19,115		3,195
2027	16,008		2,531
2028	12,586		1,576
2029	10,973		715
Thereafter	40,384		372
Total future minimum lease payments (undiscounted)	103,781		9,225
Less: Present value discount	(21,528)		(973)
Total lease liabilities	$	82,253	$	8,252