v3.26.1
Segments (Tables)
 3 Months Ended
Apr. 03, 2026
Segment [Abstract]  
Schedule of Segment Total Revenue

The following tables (i) summarize total revenues by segment, (ii) reconcile each segment’s revenues to their respective segment operating income, including segment operating expenses, (iii) reconcile each segment’s income from continuing operations before taxes and (iv) reconcile (loss) income from continuing operations for the three months ended April 3, 2026 and March 31, 2025:

 

    Three Months Ended April 3, 2026  
    CMC     EMP     Corporate and Other     Total  
Revenue:                        
Revenue – Point in time   $ 31,177     $ 6,280     $ —     $ 37,457  
Revenue – Over time     17,029       1,521       —       18,550  
Total revenue     48,206       7,801       —       56,007  
Cost of goods sold     38,415       5,744       —       44,159  
Gross profit     9,791       2,057       —       11,848  
Operating expenses:                                
General and administrative(1)     2,692       1,418       2,958       7,068  
Research and development     518       330       2       850  
Sales and marketing     1,366       548       153       2,067  
Operating expenses     4,576       2,296       3,113       9,985  
Operating income (loss)     5,215       (239 )     (3,113 )     1,863  
Interest expense (income)     542       89       (18 )     613  
Interest expense – related party     368       78       181       627  
Other (income) expense, net(2)     11       (29 )     (3,731 )     (3,749 )
Income (loss) from continuing operations before taxes     4,294       (377 )     455       4,372  
Income tax provision     —       4       4,706       4,710  
Income (loss) from continuing operations   $ 4,294     $ (381 )   $ (4,251 )   $ (338 )

 

 
(1) Includes stock-based compensation of approximately $0.6 million within the Corporate and Other segments, respectively. There is no stock-based compensation within the CMC and EMP segments.
(2) Includes the following line items from the consolidated statement of operations: (i) change in fair value of derivative asset and (ii) other (income) expense, net.

 

 

    Three Months Ended March 31, 2025  
    CMC     EMP     Corporate and Other     Total  
Revenue:                        
Revenue – Point in time   $ 33,060     $ 6,211     $ —     $ 39,271  
Revenue – Over time     6,053       1,063       —       7,116  
Total revenue     39,113       7,274       —       46,387  
Cost of goods sold     33,196       4,580       —       37,776  
Gross profit     5,917       2,694       —       8,611  
Operating expenses:                                
General and administrative     1,645       1,291       323       3,259  
Research and development     477       334       —       811  
Sales and marketing     1,204       336       143       1,683  
Operating expenses     3,326       1,961       466       5,753  
Operating income (loss)     2,591       733       (466 )     2,858  
Interest expense     335       95       80       510  
Interest expense (income) – related party     392       55       (31 )     416  
Other (income) expense, net     50       (25 )     54       79  
Income (loss) from continuing operations before taxes     1,814       608       (569 )     1,853  
Income tax provision     —       —       —       —  
Income (loss) from continuing operations   $ 1,814     $ 608     $ (569 )   $ 1,853  
Schedule of Depreciation and Amortization Expense by Segment

Depreciation and amortization expense by segment for the three months ended April 3, 2026 and March 31, 2025 were as follows:

 

    Three Months Ended April 3, 2026  
    CMC     EMP     Corporate
and Other		     Total  
Depreciation and amortization   $ 1,632     $ 288     $ 3     $ 1,923  
Total depreciation and amortization   $ 1,632     $ 288     $ 3     $ 1,923  

 

    Three Months Ended March 31, 2025  
    CMC     EMP     Corporate and Other     Total  
Depreciation and amortization   $ 1,315     $ 289     $ —     $ 1,604  
Total depreciation and amortization   $ 1,315     $ 289     $ —     $ 1,604  
Schedule of Total Assets by Segments

Total assets for the Company’s business segments, as of April 3, 2026 and December 31, 2025, were as follows: 

 

    April 3, 2026  
    CMC     EMP     Corporate and Other     Total  
Total assets   $ 156,025     $ 26,283     $ 4,939     $ 187,247  

 

    December 31, 2025  
    CMC     EMP     Corporate and Other     Total  
Total assets   $ 148,704     $ 26,322     $ 620     $ 175,646  
Schedule of Capital Expenditures Net of Grants Proceeds

Capital expenditures net of grants proceeds, by segment during the three months ended April 3, 2026 and March 31, 2025 were as follows:

 

    Three Months Ended April 3, 2026  
    CMC     EMP     Corporate and Other     Total  
Purchases of property, plant and equipment, net of grant proceeds   $ 2,318     $ 19     $ —     $ 2,337  

 

    Three Months Ended March 31, 2025  
    CMC     EMP     Corporate and Other     Total  
Purchases of property, plant and equipment, net of grant proceeds   $ 2,710     $ 12     $ 11     $ 2,733  
Schedule of Long Lived Assets

As of April 3, 2026 and December 31, 2025, geographic information about long-lived assets associated with particular regions are as follows:

 

    April 3, 2026  
    United States     Europe     Total  
Property, plant and equipment, net   $ 44,185     $ —     $ 44,185  
Operating lease right-of-use assets     10,435       13       10,448  
Intangible assets, net     6,622       248       6,870  
Goodwill     2,686       1,861       4,547  
Deferred tax assets, net     —       84       84  
Other assets     872       —       872  
Total long-lived assets   $ 64,800     $ 2,206     $ 67,006  

 

    December 31, 2025  
    United States     Europe     Total  
Property, plant and equipment, net   $ 42,342     $ —     $ 42,342  
Operating lease right-of-use assets     10,570       16       10,586  
Intangible assets, net     6,922       262       7,184  
Goodwill     2,685       1,898       4,583  
Other assets     878       —       878  
Total long-lived assets   $ 63,397     $ 2,176     $ 65,573