v3.25.4
Fair Value Measurements
 12 Months Ended
Dec. 28, 2025
Fair Value Disclosures [Abstract]  
Fair Value Measurements

5. Fair Value Measurements

Assets Measured at Fair Value on a Recurring Basis

The fair value hierarchy requires the use of observable market data when available. In instances where the inputs used to measure fair value fall into different levels of the fair value hierarchy, the fair value measurement has been determined based on the lowest level input significant to the fair value measurement in its entirety. The Company’s assessment of the significance of a

particular item to the fair value measurement in its entirety requires judgment, including the consideration of inputs specific to the asset or liability.

The following tables present information about the Company’s financial assets measured at fair value on a recurring basis for the periods presented:

 

 

Fair Value Measurements as of December 28, 2025, Using:

 

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

Cash and cash equivalents:

 

 

 

 

 

 

 

 

 

 

 

 

Money market

 

$

14,807

 

 

$

—

 

 

$

—

 

 

$

14,807

 

U.S. Treasury Bills

 

 

—

 

 

 

4,998

 

 

 

—

 

 

 

4,998

 

Investment securities, available-for-sale:

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Treasury Bills

 

 

—

 

 

 

64,520

 

 

 

—

 

 

 

64,520

 

Prepaid expenses and other current assets:

 

 

 

 

 

 

 

 

 

 

 

 

Derivative financial instruments

 

 

—

 

 

 

262

 

 

 

—

 

 

 

262

 

Total assets measured at fair value

 

$

14,807

 

 

$

69,780

 

 

$

—

 

 

$

84,587

 

 

 

 

Fair Value Measurements as of December 29, 2024, Using:

 

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

Cash and cash equivalents:

 

 

 

 

 

 

 

 

 

 

 

 

Money market

 

$

114,249

 

 

$

—

 

 

$

—

 

 

$

114,249

 

Investment securities, available-for-sale:

 

 

 

 

 

 

 

 

 

 

 

 

U.S. corporate bonds and U.S. dollar
   denominated foreign bonds

 

 

—

 

 

 

9,692

 

 

 

—

 

 

 

9,692

 

Prepaid expenses and other current assets:

 

 

 

 

 

 

 

 

 

 

 

 

Derivative financial instruments

 

 

—

 

 

 

1,153

 

 

 

—

 

 

 

1,153

 

Total assets measured at fair value

 

$

114,249

 

 

$

10,845

 

 

$

—

 

 

$

125,094

 

During the fiscal year ended December 28, 2025, there were no transfers between fair value measurement levels. For additional information on concentrations of credit risk for the Company’s financial instruments, refer to “Summary of Significant Accounting Policies” in Note 2 and “Investment Securities” in Note 3 above.

Fair Value of Other Financial Instruments

The carrying values of the Company’s short-term financial instruments not included above, including cash, trade receivables, other non-trade receivables included in prepaid expense and other current assets, accounts payable, accrued expenses and other current liabilities approximate their fair value due to their short-term nature.