The accompanying unaudited condensed consolidated financial statements have been prepared in U.S. dollars, in accordance with accounting principles generally accepted in the United States of America (“GAAP”). Certain information and note disclosures normally included in the Company’s annual audited consolidated financial statements and accompanying notes prepared in accordance with GAAP have been condensed in, or omitted from, these interim financial statements. Accordingly, these unaudited condensed consolidated financial statements included herein should be read in conjunction with the audited consolidated financial statements and accompanying notes thereto as of and for the year ended September 27, 2025, which are included within the Company’s Annual Report on Form 10-K filed with the SEC on November 24, 2025. The September 27, 2025 condensed consolidated balance sheet included herein is derived from the Company’s audited consolidated financial statements.

The accompanying unaudited condensed consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries and majority-owned subsidiaries and reflect all adjustments (consisting solely of normal, recurring adjustments) which are, in the opinion of management, necessary for a fair statement of results for the interim periods presented. All intercompany balances and transactions have been eliminated in consolidation. The consolidated financial statements include 100% of the accounts of wholly owned and majority-owned subsidiaries and the ownership interest of the minority investor is recorded as a noncontrolling interest in a subsidiary. The results of operations for the interim periods presented are not necessarily indicative of the results to be expected for any future period or the entire fiscal year.

The preparation of unaudited condensed consolidated financial statements in conformity with GAAP requires management to make estimates, judgments, and assumptions that affect the reported amounts of assets, liabilities, revenue, and expenses, and the amounts disclosed in the related notes to the consolidated financial statements. Actual results and outcomes may differ materially from management’s estimates, judgments, and assumptions. Significant estimates, judgments, and assumptions used in these financial statements include, but are not limited to, those related to revenue, useful lives and realizability of long-lived assets, accounting for income taxes and related valuation allowances, and stock-based compensation. Estimates are periodically reviewed in light of changes in circumstances, facts, and experience.

The Company has concentration in the volume of purchases it conducts with its suppliers. For the three and nine months ended June 27, 2026, there was one supplier that accounted for greater than 10% of total purchases, and the aggregate purchases from this supplier amounted to $78.6 million and $202.7 million, respectively. For the three months ended June 28, 2025, there were two suppliers that accounted for greater than 10% of total purchases, and the aggregate purchases from these suppliers amounted to $96.1 million. For the nine months ended June 28, 2025, there was one supplier that accounted for greater than 10% of total purchases, and the aggregate purchases from this supplier amounted to $151.8 million.

The Company revised the consolidated statement of cash flows included in the Company’s unaudited interim consolidated financial statements for the nine months ended June 28, 2025 to reflect an updated presentation and classification of certain cash flows. The revision relates to the cash flow presentation of consideration payable to customer of $45.0 million and an employee cost reimbursement asset of $13.2 million, both of which were related to the Company’s acquisition of 100% of the outstanding common stock of ASR from Walmart. These items were subsequently determined to represent separate transactions and, accordingly, have been reclassified from investing activities to operating activities in the consolidated statement of cash flows. As a result of this revision, the consolidated statement of cash flows for the nine months ended June 28, 2025 reflects the following changes:


	For the Nine Months Ended
	June 28, 2025
(in thousands)	Reported		Adjustment		Revised
Cash flows from operating activities
Changes in operating assets and liabilities
Prepaid expenses and other current assets1	$	65,948	$	(13,169)	$	52,779
Other assets	(16,928)		(45,000)		(61,928)
Net cash provided by operating activities	$	336,259	$	(58,169)	$	278,090
Cash flows from investing activities
Cash paid for business and asset acquisitions	$	(200,000)	$	58,169	$	(141,831)
Net cash used in investing activities	$	(285,009)	$	58,169	$	(226,840)

In December 2023, the FASB issued ASU 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures” (“ASU 2023-09”). ASU 2023-09 requires public entities, on an annual basis, to provide: a tabular rate reconciliation (using both percentages and reporting currency amounts) of (1) the reported income tax expense (or benefit) from continuing operations, to (2) the product of the income (or loss) from continuing operations before income taxes and the applicable statutory federal (national) income tax rate of the jurisdiction (country) of domicile using specific categories, and separate disclosure for any reconciling items within certain categories that are equal to or greater than a specified quantitative

threshold. For each annual period presented, ASU 2023-09 also requires all reporting entities to disclose the year-to-date amount of income taxes paid (net of refunds received) disaggregated by federal (national), state, and foreign. It also requires additional disaggregated information on income taxes paid (net of refunds received) to an individual jurisdiction equal to or greater than 5% of total income taxes paid (net of refunds received). ASU 2023-09 is effective for public entities for fiscal years beginning after December 15, 2024. ASU 2023-09 is to be applied on a prospective basis with the option to apply the standard retrospectively. Early adoption is permitted. The Company will adopt this standard and disclose any impact from this standard in its fiscal year 2026 consolidated financial statements.

In November 2024, the FASB issued ASU 2024-03, “Income Statement-Reporting Comprehensive Income-Expense Disaggregation Disclosures (Subtopic 220-40) - Disaggregation of Income Statement Expenses” (“ASU 2024-03”), which requires additional disclosure about specified categories of expenses included in relevant expense captions presented on the income statement. The amendments are effective for annual periods beginning after December 15, 2026, and for interim periods within fiscal years beginning after December 15, 2027. Early adoption is permitted. The amendments may be applied either prospectively or retrospectively. The Company is currently evaluating the impact that ASU 2024-03 will have on its disclosures.

On July 4, 2025, the One Big Beautiful Bill Act (“OBBBA”) was signed into law in the United States. Key provisions of the OBBBA include permanent extension of once-temporary provisions of the Tax Cuts and Jobs Act of 2017, along with the introduction of other significant changes that may impact the Company. The legislation has multiple effective dates, with certain provisions effective in the Company’s fiscal year 2025 and others implemented through the Company’s fiscal year 2028. The Company continues to evaluate the impact of the OBBBA and has included the impact of changes in the law that were effective during its fiscal year 2025 in the results of its consolidated financial statements.

In the first quarter of fiscal year 2026, the Company changed its stock-based compensation policy for recognizing expense for graded vesting awards with only service conditions from the accelerated attribution method to the straight-line attribution method. In connection with the Business Combination in June 2022, the Company granted restricted stock unit (“RSU”) awards with accelerated vesting terms. As those RSU awards with accelerated vesting terms have fully vested since the Business Combination, the Company believes the straight-line attribution method for stock-based compensation expense for awards solely subject to time-based vesting conditions is the preferable accounting policy in accordance with Accounting Standards Codification (“ASC”) Topic 718, Compensation - Stock Compensation (“ASC Topic 718”) because it more accurately reflects how the Company’s ongoing equity awards are earned over the service period and is the predominant method used in its industry. The Company applied the change retrospectively adjusting all periods presented and recorded a cumulative effect adjustment to additional paid-in capital, prepaid expenses and other current assets, and accumulated deficit as of September 27, 2025, resulting in a decrease to additional paid-in capital of $8.2 million, a decrease in GreenBox Systems LLC, which is now doing business as Exol (“Exol”), accounts receivable due from the shared services agreement of $5.5 million and a decrease to accumulated deficit of $7.1 million before giving effect to the impact to the noncontrolling interest. For the year ended September 28, 2024, the cumulative effect of the change in accounting principle on additional paid-in capital and accumulated deficit was a decrease to additional paid-in capital of $0.8 million and an increase to accumulated deficit of $0.7 million. For the three and nine months ended June 27, 2026, the change in accounting principle decreased net income by $2.2 million and increased net income by $5.7 million, respectively. For the three months ended June 27, 2026, there was no effect of the change in accounting principle on basic or diluted earnings per share (“EPS”). For the nine months ended June 27, 2026, the effect of the change in accounting principle on basic EPS was a $0.01 decrease per share of Class A common stock and there was no effect of the change in accounting principle on diluted EPS.


	For the Three Months Ended
	June 28, 2025
	As Computed Under Accelerated Attribution Method		As Computed Under Straight-line Attribution Method		Effect of Change
Systems cost of revenue	$	457,911	$	453,967	$	(3,944)
Software maintenance and support cost of revenue	1,756		1,705		(51)
Operation services cost of revenue	24,832		24,607		(225)
Total cost of revenue	484,499		480,279		(4,220)
Gross profit	107,622		111,842		4,220
Research and development expenses	52,147		49,729		(2,418)
Selling, general, and administrative expenses	75,670		71,557		(4,113)
Total operating expenses	144,178		137,647		(6,531)
Operating loss	(36,556)		(25,805)		10,751
Loss before income tax and equity method investment	(28,105)		(17,354)		10,751
Income tax expense	(44)		(44)		—
Net loss	(31,925)		(21,174)		10,751
Net loss attributable to noncontrolling interests	(26,012)		(17,251)		8,761
Net loss attributable to common stockholders	$	(5,913)	$	(3,923)	$	1,990

Loss per share of Class A Common Stock:
Basic and Diluted	$	(0.05)	$	(0.04)	$	0.01


	For the Nine Months Ended
	June 28, 2025
	As Computed Under Accelerated Attribution Method		As Computed Under Straight-line Attribution Method		Effect of Change
Systems cost of revenue	$	1,254,289	$	1,246,745	$	(7,544)
Software maintenance and support cost of revenue	5,735		5,593		(142)
Operation services cost of revenue	72,952		72,476		(476)
Total cost of revenue	1,332,976		1,324,814		(8,162)
Gross profit	295,489		303,651		8,162
Research and development expenses	157,279		150,967		(6,312)
Selling, general, and administrative expenses	215,092		205,567		(9,525)
Total operating expenses	388,732		372,895		(15,837)
Operating loss	(93,243)		(69,244)		23,999
Loss before income tax and equity method investment	(65,256)		(41,257)		23,999
Income tax benefit	1,204		1,204		—
Net loss	(71,883)		(47,884)		23,999
Net loss attributable to noncontrolling interests	(58,569)		(38,982)		19,587
Net loss attributable to common stockholders	$	(13,314)	$	(8,902)	$	4,412

Loss per share of Class A Common Stock:
Basic and Diluted	$	(0.12)	$	(0.08)	$	0.04


	For the Nine Months Ended
	June 28, 2025
	As Computed Under Accelerated Attribution Method		As Computed Under Straight-line Attribution Method		Effect of Change
			Revised
Cash flows from operating activities:
Net loss	$	(71,883)	$	(47,884)	$	23,999
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization	30,954		30,954		—
Amortization of leases	3,172		3,172		—
Loss on equity method investment	7,831		7,831		—
Foreign currency gains	(73)		(73)		—
Loss on disposal of assets	201		201		—
Provision for excess and obsolete inventory	4,901		4,901		—
Stock-based compensation	119,568		92,322		(27,246)
Gain from strategic investment fair value adjustment	(4,481)		(4,481)		—
Changes in operating assets and liabilities:
Accounts receivable	65,570		65,570		—
Inventories	(30,187)		(30,187)		—
Prepaid expenses and other current assets	62,701		52,779		(9,922)
Deferred expenses	23,582		23,582		—
Other assets	(16,928)		(61,928)		(45,000)
Accounts payable	40,544		40,544		—
Accrued expenses and other current liabilities	(7,613)		(7,613)		—
Deferred revenue	117,288		117,288		—
Other liabilities	(8,888)		(8,888)		—
Net cash provided by operating activities	$	336,259	$	278,090	$	(58,169)