Leases

9 Months Ended

Oct. 03, 2026

Note 8 - Leases

Our facilities for corporate offices, sales offices, research and development facilities, storage facilities, and a data center are leased under operating leases, which expire at various times through 2037. Our leases have remaining lease terms of less than 1 year up to 10 years, some of which include options to extend for up to 5 years, and some of which include options to terminate within 1 year. The weighted-average remaining lease term was 6.8 years and the weighted-average discount rate was 5.3% as of October 3, 2026.

We recorded fixed operating lease expenses of $2.8 million and $1.7 million for the third quarter of fiscal 2026 and 2025, respectively, and $7.4 million and $6.1 million for the first nine months of fiscal 2026 and 2025, respectively.

The following table presents the lease balance classifications within the Consolidated Balance Sheets and summarizes their activity during the first nine months of fiscal 2026:


Operating lease right-of-use assets	(In thousands)
Balance as of January 3, 2026	$	39,459
Right-of-use assets obtained for new or renewed lease contracts during the period		3,638
Fair value of right-of-use assets acquired in AMI acquisition		20,025
Amortization of right-of-use assets during the period		(5,808	)
Adjustments for present value and foreign currency effects		(1,763	)

Balance as of October 3, 2026	$	55,551


Operating lease liabilities	(In thousands)
Balance as of January 3, 2026	$	42,107
Lease liabilities accrued for new or renewed lease contracts during the period		3,638
Fair value of lease liabilities assumed in AMI acquisition		18,965
Accretion of lease liabilities		1,570
Operating cash used for payments on lease liabilities		(8,091	)
Adjustments for present value and foreign currency effects		(1,961	)

Balance as of October 3, 2026		56,228
Less: Current portion of operating lease liabilities (included in Accrued liabilities)		(7,371	)

Long-term operating lease liabilities, net of current portion	$	48,857

Maturities of operating lease liabilities as of October 3, 2026 are as follows:


Fiscal year	(In thousands)
2026 (Remaining quarter)	$	987
2027		11,800
2028		10,691
2029		7,807
2030		8,207
Thereafter		29,060

Total lease payments		68,552
Less: amount representing interest		(12,324	)

Present value of lease liabilities	$	56,228