The Company calculates basic and diluted net loss per share available to common stockholders in conformity with the provisions of ASC 260 “Earnings Per Share.” Pursuant to ASU 2020-06, the Company applies the if-converted method to its Notes. See Note 2.


(in thousands, except share and per share amounts)	Three Months Ended
	March 29, 2025		March 30, 2024
Numerator:


Net loss available to common stockholders—basic	$	(52,916)	$	(54,361)
Denominator:
Weighted average common shares outstanding—basic	76,194,916		64,702,249
Dilutive effect of shares issuable under stock options	—		—
Dilutive effect of RSUs	—		—
Dilutive effect of PSUs	—		—
Dilutive effect of Notes, if converted(1)	—		—
Weighted average common shares outstanding—diluted	76,194,916		64,702,249
Net loss per share available to common stockholders—basic and diluted	$	(0.69)	$	(0.84)

____________

(1) As the Company recorded a net loss in the three months ended March 29, 2025 and March 30, 2024, inclusion of shares from the conversion premium or spread would be anti-dilutive. The Company had $1.15 billion in Notes outstanding as of March 29, 2025 and March 30, 2024.

The following outstanding shares of common stock equivalents were excluded from the computation of diluted net loss per share available to common stockholders for the periods presented because the impact of

including them would have been antidilutive:


	Three Months Ended
	March 29, 2025	March 30, 2024
Options to purchase common stock	4,211,947	5,311,878
RSUs	1,805,678	2,386,363
PSUs	145,660	225,967


Total	6,163,285	7,924,208