v3.25.2
Net Loss Per Share Available to Common Stockholders
6 Months Ended
Jun. 28, 2025
Earnings Per Share [Abstract]  
Net Loss Per Share Available to Common Stockholders Net Loss Per Share Available to Common Stockholders
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 EndedSix Months Ended
June 28, 2025June 29, 2024June 28, 2025June 29, 2024
Numerator:
Net loss available to common stockholders—basic$(29,242)$(34,479)$(82,158)$(88,840)
Denominator:
Weighted average common shares outstanding—basic76,491,594 64,901,584 76,348,524 64,797,245 
Dilutive effect of shares issuable under stock options— — — — 
Dilutive effect of RSUs— — — — 
Dilutive effect of PSUs— — — — 
Dilutive effect of Notes, if converted(1)
— — — — 
Dilutive effect of Warrants, if converted(2)
— — — — 
Weighted average common shares outstanding—diluted76,491,594 64,901,584 76,348,524 64,797,245 
Net loss per share available to common stockholders—basic and diluted$(0.38)$(0.53)$(1.08)$(1.37)
____________
(1) As the Company recorded a net loss in the three and six months ended June 28, 2025 and June 29, 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 June 28, 2025 and June 29, 2024.
(2) As the Company recorded a net loss in the three and six months ended June 28, 2025, inclusion of shares from the potential conversion of Warrants would be anti-dilutive. The Company had 3,823,454 Warrants outstanding as of June 28, 2025. No Warrants were outstanding as of June 29, 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 EndedSix Months Ended
June 28, 2025June 29, 2024June 28, 2025June 29, 2024
Options to purchase common stock4,100,689 5,400,017 4,100,689 5,400,017 
RSUs1,612,253 2,527,308 1,612,253 2,527,308 
PSUs145,660 225,967 145,660 225,967 
Total5,858,602 8,153,292 5,858,602 8,153,292