Related Party Transactions |
3 Months Ended |
|---|---|
Apr. 03, 2026 | |
| Related Party Transactions [Abstract] | |
| RELATED PARTY TRANSACTIONS | 14. RELATED PARTY TRANSACTIONS
In connection with the Reorganization, the Company issued 466 shares of Class B common stock to the Company’s CEO for cash proceeds of less that $0.1 million. Following the completion of the IPO, the Company redeemed the 466 shares of Class B common stock held by the Company’s CEO for less than $0.1 million of cash.
As of April 3, 2026 and December 31, 2025, Poly Labs owed the Company less than $0.1 million and $0.2 million, respectively, related to various management fees and other services provided by the Company to Poly Labs following the October 1, 2025 distribution date, which is included within related party receivables within the consolidated balance sheets. The related party receivable was non-interest bearing and contained no stated maturity date.
During the three months ended April 3, 2026, in connection with the Reorganization, the Company entered into a $2.4 million note payable with Anania & Associates Investment Company LLC. As of April 3, 2026, approximately $0.8 million remained outstanding. On May 11, 2026, the Company repaid $0.6 million on the AAI Note. Refer to Note 12 – Debt for further information.
During the year ended December 31, 2025, the Company entered into a $1.7 million note payable with Poly Labs, which is majority owned by the Company’s CEO. The Poly Labs Note Payable was repaid on January 19, 2026. Refer to Note 12 – Debt for further information.
During the year ended December 31, 2023, the Company and an employee of the Company entered into a note receivable, which consisted of a note bearing interest at 1.5% with an initial maturity date of August 31, 2025. In November 2025, the parties agreed to extend the maturity date of the note to March 1, 2026. In May 2026, the parties agreed to extend the maturity date of the note to June 1, 2026. At the maturity date the remaining principal and accrued interest will be due in full. As of April 3, 2026 and December 31, 2025, the outstanding balance on the note receivable was approximately $0.2 million and was included in related party receivables on the consolidated balance sheet.
During the year ended December 31, 2023, the Company entered into a $20.0 million term note with Great Falls Property, LLC, which is owned by a principal stockholder of a consolidated subsidiary. The loan proceeds were used to fund a portion of one of the Company’s 2023 acquisitions. Refer to Note 12 – Debt for further information.
During the year ended December 31, 2023, the Company entered into a $2.0 million line of credit with the Company’s CEO, which was further increased to $2.5 million as a result of an amendment entered into during the year ended December 31, 2025. The loan proceeds were used to fund working capital needs. On January 1, 2026, the Company amended the maturity date of the CEO Line of Credit. Refer to Note 12 – Debt for further information. |