Note 7 - Leases

9 Months Ended

Sep. 27, 2025

Notes to Financial Statements

Lessee, Operating Leases [Text Block]

Note 7 - Leases

We have operating leases for corporate offices, sales offices, research and development facilities, storage facilities, and a data center. All of our facilities are leased under operating leases, which expire at various times through 2035, with a weighted-average remaining lease term of 5.2 years and a weighted-average discount rate of 5.6% as of September 27, 2025.

We recorded fixed operating lease expenses of $1.7 million and $2.1 million for the third quarter of fiscal 2025 and 2024, respectively, and $6.1 million and $6.4 million for the first nine months of fiscal 2025 and 2024, 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 2025:

Operating lease right-of-use assets	(In thousands)
Balance as of December 28, 2024	$	13,870
Right-of-use assets obtained for new lease contracts during the period		10,349
Amortization of right-of-use assets during the period		(5,240	)
Adjustments for present value and foreign currency effects		(14	)
Balance as of September 27, 2025	$	18,965

Operating lease liabilities	(In thousands)
Balance as of December 28, 2024	$	15,251
Lease liabilities accrued for new lease contracts during the period		10,349
Accretion of lease liabilities		850
Operating cash used for payments on lease liabilities		(5,971	)
Adjustments for present value and foreign currency effects		(97	)
Balance as of September 27, 2025		20,382
Less: Current portion of operating lease liabilities (included in Accrued liabilities)		(5,805	)
Long-term operating lease liabilities, net of current portion	$	14,577

Maturities of operating lease liabilities as of September 27, 2025 are as follows:

Fiscal year	(In thousands)
2025 (Remaining quarter)	$	1,478
2026		6,550
2027		4,774
2028		3,678
2029		1,493
Thereafter		5,647
Total lease payments		23,620
Less: amount representing interest		(3,238	)
Total lease liabilities	$	20,382

Lease obligations for facilities restructured prior to the adoption of Topic 842 totaled approximately $1.7 million at September 27, 2025 and is recorded in Accrued liabilities and in Other long-term liabilities on our Consolidated Balance Sheets.