Revenue Recognition and Contract Balances (Tables)
|
3 Months Ended |
12 Months Ended |
Mar. 29, 2026 |
Dec. 28, 2025 |
| Revenue Recognition and Contract Balances [Abstract] |
|
|
| Schedule of Disaggregation of Revenue |
Refer
to the table below for the Company’s revenue recognized (in thousands):
| | |
Thirteen
Weeks
Ended | |
| | |
March
29,
2026 | | |
March
30,
2025 | |
| Residential Solar
Installation | |
| | |
| |
| Revenue
recognized over time | |
$ | 31,537 | | |
$ | 36,504 | |
| Total
Residential Solar Installation | |
| 31,537 | | |
| 36,504 | |
| | |
| | | |
| | |
| New
Homes Business | |
| | | |
| | |
| Revenue
recognized over time | |
| 10,106 | | |
| 15,466 | |
| Revenue
recognized at a point in time | |
| 4,523 | | |
| 26,443 | |
| Total
New Homes Business | |
| 14,629 | | |
| 41,909 | |
| | |
| | | |
| | |
| Dealer | |
| | | |
| | |
| Revenue
recognized at a point in time | |
| 26,627 | | |
| — | |
| Total
Dealer | |
| 26,627 | | |
| — | |
| Total
revenue | |
$ | 72,793 | | |
$ | 78,413 | |
| | |
| | | |
| | |
| Total
revenue recognized over time | |
$ | 41,642 | | |
$ | 51,970 | |
| Total
revenue recognized at a point in time | |
| 31,151 | | |
| 26,443 | |
|
All
revenue is generated in the U.S. Revenue is disaggregated as follows (in thousands):
| | |
Fiscal Year Ended | |
| | |
December 28, | | |
December 29, | |
| | |
2025 | | |
2024 | |
| Residential Solar Installation | |
| | |
| |
| Revenue recognized over time | |
$ | 160,987 | | |
$ | 67,460 | |
| Total Residential Solar Installation | |
| 160,987 | | |
| 67,460 | |
| New Homes Business | |
| | | |
| | |
| Revenue recognized over time | |
| 46,686 | | |
| 32,205 | |
| Revenue recognized at a point in time | |
| 77,909 | | |
| 9,077 | |
| Total New Homes Business | |
| 124,595 | | |
| 41,282 | |
| Dealer | |
| | | |
| | |
| Revenue recognized at a point in time | |
| 14,418 | | |
| — | |
| Total Dealer | |
| 14,418 | | |
| — | |
| Total revenue | |
$ | 300,000 | | |
$ | 108,742 | |
| | |
| | | |
| | |
| Total revenue recognized over time | |
$ | 207,673 | | |
$ | 99,665 | |
| Total revenue recognized at a point in time | |
| 92,327 | | |
| 9,077 | |
|
| Schedule of Contract Liabilities |
Contract
liabilities consist of the following (in thousands):
| | |
As
of | |
| | |
March
29, | | |
December 28, | |
| | |
2026 | | |
2025 | |
| Contract liabilities: | |
| | |
| |
| Contract
liabilities, current | |
$ | 12,634 | | |
$ | 20,336 | |
| Contract
liabilities, noncurrent | |
| 794 | | |
| 794 | |
| Total
contract liabilities | |
$ | 13,428 | | |
$ | 21,130 | |
|
Accounts
receivable, contract assets and contract liabilities from contracts with customers are as follows (in thousands):
| | |
As of | |
| | |
December 28, | | |
December 29, | |
| | |
2025 | | |
2024 | |
| Trade accounts receivable, net | |
$ | 67,824 | | |
$ | 25,842 | |
| Contract assets: | |
| | | |
| | |
| Contract assets, current | |
$ | 14,122 | | |
$ | 26,066 | |
| Total contract assets | |
$ | 14,122 | | |
$ | 26,066 | |
| Contract liabilities: | |
| | | |
| | |
| Contract liabilities, current | |
$ | 20,336 | | |
$ | 10,003 | |
| Contract liabilities, noncurrent | |
| 794 | | |
| 918 | |
| Total contract liabilities | |
$ | 21,130 | | |
$ | 10,921 | |
|
| Schedule of Changes in Contract Assets and Liabilities |
|
Changes in the balances of contract assets in
the fiscal years ended December 28, 2025 and December 29, 2024 were as follows (in thousands):
| |
|
Fiscal Year Ended |
|
| Contract assets |
|
December 28, |
|
|
December 29, |
|
| |
|
2025 |
|
|
2024 |
|
| Contract assets, beginning of period |
|
$ |
26,066 |
|
|
$ |
— |
|
| Contract assets recognized |
|
|
12,979 |
|
|
|
21,451 |
|
| Reclassifications to accounts receivable |
|
|
(26,066 |
) |
|
|
— |
|
| Increase due to contract assets acquired in business combination |
|
|
1,143 |
|
|
|
4,615 |
|
| Contract assets, end of period |
|
$ |
14,122 |
|
|
$ |
26,066 |
|
Changes in the balances of contract liabilities
in the fiscal years ended December 28, 2025 and December 29, 2024 were as follows (in thousands):
| | |
Fiscal Year Ended | |
| Contract liabilities | |
December 28, | | |
December 29, | |
| | |
2025 | | |
2024 | |
| Contract liabilities, beginning of period | |
$ | 10,921 | | |
$ | 3,478 | |
| Increases due to billings or cash received in advance | |
| 6,750 | | |
| 2,642 | |
| Revenue recognized from beginning balance of contract liabilities | |
| (9,889 | ) | |
| (2,560 | ) |
| Increase due to contract liabilities assumed in a business combination | |
| 13,348 | | |
| 7,361 | |
| Contract liabilities, end of period | |
$ | 21,130 | | |
$ | 10,921 | |
|