Stockholders' Equity (Tables)

9 Months Ended

Sep. 27, 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				Nine Months Ended
	September 27, 2024		September 29, 2023		September 27, 2024		September 29, 2023
Employee stock options	$	3,592	$	3,517	$	10,283	$	9,973
Restricted stock		156		201		354		347
RSUs		3,160		2,214		8,556		5,963
PSUs		115		2,449		2,919		5,958
Nonemployee stock options		137		465		429		1,093
Total stock-based compensation expense	$	7,160	$	8,846	$	22,541	$	23,334

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				Nine Months Ended
	September 27, 2024		September 29, 2023		September 27, 2024		September 29, 2023
Cost of sales	$	303	$	223	$	964	$	595
General and administrative		3,621		4,049		11,677		11,107
Selling and marketing		1,213		2,561		3,742		5,910
Research and development		2,023		2,013		6,158		5,722
Total stock-based compensation expense, net		7,160		8,846		22,541		23,334
Amounts capitalized as part of inventory		361		534		1,138		1,431
Total stock-based compensation expense, gross	$	7,521	$	9,380	$	23,679	$	24,765

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

As of September 27, 2024, total unrecognized compensation cost related to non-vested stock-based compensation arrangements were as follows (in thousands):

	September 27, 2024
Stock options	$	22,076
Restricted stock, RSUs and PSUs		28,545
Total unrecognized stock-based compensation cost	$	50,621

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						Nine Months Ended
	September 27, 2024			September 29, 2023			September 27, 2024			September 29, 2023
Expected dividend yield		0	%		0	%		0	%		0	%
Expected volatility		59	%		60	%		59	%		60	%
Risk-free interest rate		3.70	%		4.18	%		4.17	%		3.91	%
Expected term (in years)		5.29			5.05			5.29			5.05

Schedule of Share-based Compensation, Stock Options, Activity

A summary of stock option activity under the Equity Plan for the nine months ended September 27, 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		622			38.03
Exercised		(310	)		23.76
Forfeited or expired		(144	)		70.90
Outstanding at September 27, 2024		2,798		$	45.76		6.81	$	12,305
Exercisable at September 27, 2024		1,709		$	46.54		5.43	$	11,458

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 nine months ended September 27, 2024 is presented below (shares in thousands):

	Restricted Stock			RSUs			PSUs
Unvested at December 29, 2023		14			401			56
Granted		17			457			390
Vested		(10	)		(127	)		(24	)
Forfeited or expired		(5	)		(18	)		(16	)
Unvested at September 27, 2024		16			713			406