Commitments and Contingencies |
6 Months Ended |
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Jun. 29, 2026 | |
| Commitments and Contingencies Disclosure [Abstract] | |
| Commitments and Contingencies | Commitments and Contingencies Legal contingencies From time to time, the Company is party to certain legal proceedings. The Company accrues losses for a legal proceeding when it is probable that a loss has been incurred and the amount of the loss can be reasonably estimated. However, the uncertainties inherent in legal proceedings make it difficult to reasonably estimate the costs and effects of resolving these matters. Accordingly, actual costs incurred may differ materially from amounts accrued, may exceed applicable insurance coverage and could materially affect the Company’s business, cash flows, results of operations, financial condition, and prospects. Benefit plan The Company has a defined contribution plan under Internal Revenue Code Section 401(k). The Company may make discretionary contributions to the plan. During the three months ended June 29, 2026 and June 30, 2025, the contributions to the plan totaled approximately $0.2 million and $0.1 million, respectively, and during the six months ended June 29, 2026 and June 30, 2025, the contributions to the plan totaled approximately $0.4 million and $0.3 million, respectively. These were recorded as part of operating expenses within the condensed consolidated statements of operations. Letter of credit For the six months ended June 29, 2026 and June 30, 2025, the Company had outstanding standby letters of credit totaling $1.0 million and $0.7 million, respectively, all of which expire within one year of issuance date. These instruments were issued primarily to support lease obligations and are fully secured by restricted cash deposits. The letter of credit is payable upon the occurrence of any of the following conditions: (a) the Company fails to comply with or perform its obligations under the terms and conditions of the applicable leases; (b) a case under Title 11 or other applicable bankruptcy laws is filed by or against the Company; (c) the lessor has not received a proper extension of the letter of credit; or (d) the Company fails to deliver a replacement letter of credit to the lessor. No amounts had been drawn under this letter of credit during the six months ended June 29, 2026 and June 30, 2025. The Company does not expect to incur any losses under the arrangement.
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