Fair Value Measurements (Tables)

6 Months Ended

Jun. 28, 2025

Schedule of Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis

The following table presents financial assets and financial liabilities that are measured at fair value on a recurring basis at June 28, 2025:


	Fair Value Hierarchy
(in thousands)	Level 1		Level 2		Level 3		Total
Assets:
Money market funds	$	3,172	$	—	$	—	$	3,172


Marketable securities (1)	2,665		—		—		2,665
Forward contracts	—		24		—		24
Total	$	5,837	$	24	$	—	$	5,861
Liabilities:

Forward contracts	$	—	$	1,881	$	—	$	1,881
Acquisition-related contingent consideration	—		—		788		788
Total	$	—	$	1,881	$	788	$	2,669

(1)Represents investments held in a rabbi trust associated with the Company’s deferred compensation plan which is included in “Prepaid expenses and other current assets” and “Other assets” in the accompanying unaudited interim Condensed Consolidated Balance Sheets.

The following table presents financial assets and financial liabilities that are measured at fair value on a recurring basis at December 28, 2024:


	Fair Value Hierarchy
(in thousands)	Level 1		Level 2		Level 3		Total
Assets:
Money market funds	$	57,000	$	—	$	—	$	57,000
Forward contracts	—		4,574		—		4,574
Total	$	57,000	$	4,574	$	—	$	61,574
Liabilities:
Acquisition-related contingent consideration	$	—	$	—	$	2,000	$	2,000

Schedule of Fair Value Measurement Inputs and Valuation Techniques

The following table provides quantitative information regarding Level 3 inputs used in the fair value measurement of the acquisition-related contingent consideration liability as of June 28, 2025:

Acquisition-Related Contingent Consideration Liability

Valuation Technique

Unobservable Inputs

Range

Potential payment

Probability-weighted present value

Probability of payment

0% - 100%

Discount rate

9.6%

Projected years of payments

2026 - 2027

Schedule of Fair Value, Liabilities Measured on Recurring Basis

The following table provides a reconciliation of the acquisition-related contingent consideration liability measured at fair value using Level 3 significant unobservable inputs:


(in thousands)
Balance at December 28, 2024	$	2,000
Change in fair value recorded in selling, general and administrative	(326)
Balance at March 29, 2025	1,674
Change in fair value recorded in selling, general and administrative	(886)
Balance at June 28, 2025	$	788