v3.25.2
Summary of Significant Accounting Policies (Tables)
6 Months Ended
Jun. 28, 2025
Accounting Policies [Abstract]  
Schedule of Assumptions Used for Valuation of Warrants The following are the assumptions used in the Black-Scholes valuation of the Warrants at issuance on June 26, 2025 for the periods indicated:
Three Months Ended
June 28, 2025June 29, 2024
Risk-free interest rate3.79%N/A
Average expected term (years)5.0N/A
Expected volatility69.35%N/A
Dividend yield
The following are the assumptions used in the Monte-Carlo simulation to determine the fair value of the contingently issuable Warrants as of June 28, 2025, assuming an aggregate draw amount of $60.0 million by December 31, 2025:
AssumptionAs of June 28, 2025
Issue dateJune 26, 2025
Expiration dateJune 26, 2030
Remaining term to expiration (years)5.0
Remaining term to expiration (trading weeks)260
Annualized volatility70.0%
Risk free rate (continuous)3.76%
Schedule of Changes in Fair Value of Warrants Liability
The following table sets forth a summary of the changes in the fair value of the Warrant liability:
Three Months EndedSix Months Ended
(in thousands)June 28, 2025June 29, 2024June 28, 2025June 29, 2024
Beginning balance$— $— $— $— 
Fair value of Warrants issued during the period7,983 — 7,983 — 
Fair value of contingently issuable Warrants12,160 — 12,160 — 
Change in fair value of issued Warrants— — — — 
Ending balance$20,143 $— $20,143 $— 
Schedule of Disaggregation of Revenue The following table presents the Company’s net revenues by channel:
Three Months EndedSix Months Ended
June 28, 2025June 29, 2024June 28, 2025June 29, 2024
(in thousands)
U.S.:
Retail$32,909 $44,869 $64,269 $81,957 
Foodservice11,055 10,350 20,468 22,654 
U.S. net revenues43,964 55,219 84,737 104,611 
International:
Retail15,867 17,585 28,549 30,163 
Foodservice15,127 20,381 30,403 34,014 
International net revenues30,994 37,966 58,952 64,177 
Net revenues$74,958 $93,185 $143,689 $168,788