ACQUISITION (Tables)

3 Months Ended

Mar. 29, 2026

Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]

Business Combination, Intangible Asset, Acquired, Finite-Lived

The following table sets forth the components of identifiable intangible assets acquired, including immaterial measurement period adjustments, as of January 31, 2025:


(in thousands, except percentages and estimated useful lives, in years)	Estimated fair value		Estimated useful life in years	Valuation method	Discount rate
Customer relationships	$	14,300	6	Multi-period excess earnings	17.0%
Trade names/trademarks	650		7	Relief from royalty	17.0%
Total acquired identifiable intangible assets	$	14,950

Business Combination, Recognized Asset Acquired and Liability Assumed

The following table reflects our final allocation of the purchase price to the fair value of assets acquired and liabilities assumed:


(in thousands)	Purchase price allocation


Purchase price allocated as follows:
Cash and cash equivalents	$	5,042
Accounts receivable	13,877
Prepaid expenses, deposits and other current assets	216
Operating lease right-of-use assets	97
Intangible assets	14,950
Total assets acquired	34,182

Accounts payable and other accrued expenses	2,228
Accrued wages and benefits	10,369
Income tax payable	3,635

Operating lease liabilities	97
Total liabilities assumed	16,329

Net identifiable assets acquired	17,853
Goodwill (1)	17,338
Total cash consideration transferred	$	35,191

(1) Goodwill represents the expected synergies with our existing businesses, the acquired assembled workforce, potential new clients and future cash flows after the acquisition of Healthcare Staffing Professionals, Inc., and is deductible for income tax purposes. We performed an interim goodwill impairment test associated with our HSP reporting unit as of the last day of our fiscal first quarter of 2026, which resulted in an impairment charge of $3.7 million. Goodwill remaining for the HSP reporting unit as of March 29, 2026 is $13.7 million. Refer to Note 6: Goodwill for additional details.