Stockholders' Equity (Tables)

6 Months Ended

Jun. 28, 2024

Stockholders' Equity Note [Abstract]

Schedule of Compensation Cost

The cost that has been charged against income for stock-based compensation is set forth below (in thousands):

	Three Months Ended				Six Months Ended
	June 28, 2024		June 30, 2023		June 28, 2024		June 30, 2023
Employee stock options	$	3,518	$	3,479	$	6,691	$	6,456
Restricted stock		170		79		198		146
RSUs		3,084		2,148		5,396		3,749
PSUs		2,119		2,403		2,804		3,509
Nonemployee stock options		151		314		292		628
Total stock-based compensation expense	$	9,042	$	8,423	$	15,381	$	14,488

Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs

The Company recorded stock-based compensation costs in the following categories (in thousands):

	Three Months Ended				Six Months Ended
	June 28, 2024		June 30, 2023		June 28, 2024		June 30, 2023
Cost of sales	$	363	$	223	$	661	$	372
General and administrative		4,981		3,695		8,056		7,058
Selling and marketing		1,319		2,492		2,529		3,349
Research and development		2,379		2,013		4,135		3,709
Total stock-based compensation expense, net		9,042		8,423		15,381		14,488
Amounts capitalized as part of inventory		440		528		777		897
Total stock-based compensation expense, gross	$	9,482	$	8,951	$	16,158	$	15,385

Schedule of Unrecognized Compensation Cost, Non-Vested Stock-Based Compensation Arrangements

As of June 28, 2024, total unrecognized compensation cost related to non-vested stock-based compensation arrangements were as follows (in thousands):

	June 28, 2024
Stock options	$	25,633
Restricted stock, RSUs and PSUs		38,796
Total unrecognized stock-based compensation cost	$	64,429

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions

The risk-free rate is based on the U.S. Treasury yield curve corresponding to the expected term at the time of the grant.

	Three Months Ended						Six Months Ended
	June 28, 2024			June 30, 2023			June 28, 2024			June 30, 2023
Expected dividend yield		0	%		0	%		0	%		0	%
Expected volatility		59	%		58	%		59	%		59	%
Risk-free interest rate		4.45	%		3.41	%		4.19	%		3.87	%
Expected term (in years)		5.29			4.87			5.29			5.02

Schedule of Share-based Compensation, Stock Options, Activity

A summary of stock option activity under the Equity Plan for six months ended June 28, 2024 is presented below:

	Stock Options (in 000’s)			Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Term (years)		Aggregate Intrinsic Value (in 000’s)
Outstanding at December 29, 2023		2,630		$	46.38
Granted		597			38.14
Exercised		(205	)		27.83
Forfeited or expired		(114	)		69.44
Outstanding at June 28, 2024		2,908		$	45.08		6.81	$	31,731
Exercisable at June 28, 2024		1,760		$	44.45		5.29	$	24,251

Schedule of Share-based Compensation, Restricted Stock, RSU and PSU Activity

A summary of restricted stock, RSU and PSU activity under the Equity Plan for the six months ended June 28, 2024 is presented below (shares in thousands):

	Restricted Stock			RSUs			PSUs
Unvested at December 29, 2023		14			401			56
Granted		17			443			390
Vested		(10	)		(122	)		(24	)
Forfeited or expired		(5	)		(18	)		(16	)
Unvested at June 28, 2024		16			704			406