| Supplemental Balance Sheet Information |
(6)
Supplemental Balance Sheet Information
Prepaid
Expenses and Other Current Assets
Prepaid
expenses and other current assets consist of the following (in thousands):
| |
|
As
of |
|
| |
|
March
29, |
|
|
December 28, |
|
| |
|
2026 |
|
|
2025 |
|
| Costs
to obtain contracts and costs to fulfill contracts (1) |
|
$ |
17,161 |
|
|
$ |
7,361 |
|
| Other |
|
|
10,691 |
|
|
|
9,552 |
|
| Total
prepaid expenses and other current assets |
|
$ |
27,852 |
|
|
$ |
16,913 |
|
| (1) |
Costs to obtain contracts
and costs to fulfill contracts with customers are recognized within sales commissions and cost of revenues, respectively, when the related
revenue is recognized. |
Accrued
Expenses and Other Current Liabilities
Accrued
expenses and other current liabilities consist of the following (in thousands):
| |
|
As
of |
|
| |
|
March
29, |
|
|
December 28, |
|
| |
|
2026 |
|
|
2025 |
|
| Accrued
compensation and benefits |
|
$ |
14,746 |
|
|
$ |
7,202 |
|
| Income taxes
payable |
|
|
278 |
|
|
|
278 |
|
| Professional
fees |
|
|
70 |
|
|
|
70 |
|
| Accrued
legal settlements |
|
|
9,500 |
|
|
|
9,500 |
|
| Accrued
rebates and credits |
|
|
6,269 |
|
|
|
7,564 |
|
| Deferred
financing fees |
|
|
4,868 |
|
|
|
4,868 |
|
| Investor
financing deposits with related parties |
|
|
5,392 |
|
|
|
2,000 |
|
| Accrued
interest (1) |
|
|
4,093 |
|
|
|
6,301 |
|
| Other
|
|
|
24,790 |
|
|
|
19,194 |
|
| Total
accrued expenses and other current liabilities |
|
$ |
70,006 |
|
|
$ |
56,977 |
|
| (1) |
Includes accrued interest
due to related parties of $2.2
million and $2.6
million as of March 29, 2026 and December 28, 2025, respectively. |
|
(6)
Supplemental Balance Sheet Information
Prepaid
Expenses and Other Current Assets
Prepaid
expenses and other current assets consist of the following (in thousands):
| |
|
As of |
|
| |
|
December 28, |
|
|
December 29, |
|
| |
|
2025 |
|
|
2024 |
|
| Costs to obtain contracts and costs to fulfill contracts (1) |
|
$ |
7,361 |
|
|
$ |
3,759 |
|
| Other |
|
|
9,552 |
|
|
|
4,447 |
|
| Total prepaid expenses and other current assets |
|
$ |
16,913 |
|
|
$ |
8,206 |
|
| (1) |
Costs to obtain contracts and costs to fulfill contracts with customers are recognized within sales
commissions and cost of revenues, respectively, when the related revenue is recognized. |
Property
and Equipment, Net
Property
and equipment, net consist of the following (in thousands):
| |
|
As
of |
|
| |
|
December 28, |
|
|
December 29, |
|
| |
|
2025 |
|
|
2024 |
|
| Internal-use software |
|
$ |
308 |
|
|
$ |
420 |
|
| Equipment |
|
|
145 |
|
|
|
73 |
|
| Furniture and equipment |
|
|
1,112 |
|
|
|
724 |
|
| Vehicles |
|
|
6,824 |
|
|
|
5,174 |
|
| Leasehold improvements |
|
|
378 |
|
|
|
18 |
|
| Total property
and equipment |
|
|
8,767 |
|
|
|
6,409 |
|
| Less: accumulated
depreciation and amortization |
|
|
(3,877 |
) |
|
|
(916 |
) |
| Total property
and equipment, net |
|
$ |
4,890 |
|
|
$ |
5,493 |
|
Depreciation and amortization expense totaled $3.0
million and $2.0
million for the fiscal years ended December 28, 2025 and December 29, 2024, respectively. Finance leases are included within vehicles
and account for $1.7
million and $3.9
million of the total balance as of the fiscal years ended December 28, 2025, and December 29, 2024, respectively.
In
the fiscal year ended December 29, 2024, the Company capitalized $1.2
million, of internal-use software development costs.
The
Company recognized a total of $3.8
million on impairment and loss on disposal of property and equipment for the fiscal year ended December 29, 2024 consisting primarily
of $3.4
million relating to its proprietary HelioTrackTM software system. The Company impaired the value of its HelioTrackTM software as this
software has no future use following the completion of the migration to software acquired in the SunPower Acquisition.
Accrued
Expenses and Other Current Liabilities
Accrued
expenses and other current liabilities consist of the following (in thousands):
| |
|
As of |
|
| |
|
December 28, |
|
|
December 29, |
|
| |
|
2025 |
|
|
2024 |
|
| Accrued compensation and benefits |
|
$ |
7,202 |
|
|
$ |
6,619 |
|
| Income taxes payable |
|
|
278 |
|
|
|
— |
|
| Professional fees |
|
|
70 |
|
|
|
8,028 |
|
| Accrued legal settlements |
|
|
9,500 |
|
|
|
7,700 |
|
| Accrued rebates and credits |
|
|
7,564 |
|
|
|
7,641 |
|
| Deferred financing fees |
|
|
4,868 |
|
|
|
4,674 |
|
| Investor financing deposit with related
party (1) |
|
|
2,000 |
|
|
|
— |
|
| Accrued interest (2) |
|
|
6,301 |
|
|
|
4,523 |
|
| Other (3) |
|
|
19,194 |
|
|
|
16,896 |
|
| Total accrued expenses and other current liabilities |
|
$ |
56,977 |
|
|
$ |
56,081 |
|
| (1) |
The Company received a deposit
of $2.0
million from the Rodgers Massey Revocable Living Trust (“Rodgers Revocable Trust”), a related party, in fiscal 2025. In
January 2026, these proceeds along with an additional $1.3
million received in January 2026 was converted to a 12.0%
convertible promissory note. Refer to Note 20 – Subsequent Events – 12.0% Convertible Promissory Note for
further details. |
| (2) |
Includes accrued interest
due to related parties of $2.6
million and $2.5
million as of December 28, 2025 and December 29, 2024, respectively. |
| (3) |
No individual items exceed
5%
of total current liabilities. |
|