v3.26.1
Label Element Value
Cash, Cash Equivalent, Restricted Cash, and Restricted Cash Equivalent, Continuing Operation us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $ 346,119,000
Standard Product Warranty Accrual us-gaap_StandardProductWarrantyAccrual $ 10,292,000
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Product and Service, Revenue [Table Text Block] us-gaap_ScheduleOfEntityWideInformationRevenueFromExternalCustomersByProductsAndServicesTextBlock

The following table lists the different sources of revenue:

 

 

Three Months Ended

 

 

Six Months Ended

 

 

 

June 30,

 

 

June 28,

 

 

June 30,

 

 

June 28,

 

 

 

2026

 

 

2025

 

 

2026

 

 

2025

 

 

 

(in thousands, except for percentages)

 

Systems and software

 

$

294,040

 

 

 

85.7

%

 

$

214,506

 

 

 

84.6

 %

 

$

541,197

 

 

 

85.2

 %

 

$

445,656

 

 

 

85.7

 %

Parts

 

 

28,713

 

 

 

8.4

%

 

 

19,849

 

 

 

7.8

 %

 

 

55,263

 

 

 

8.7

 %

 

 

38,025

 

 

 

7.3

 %

Services

 

 

20,376

 

 

 

5.9

%

 

 

19,242

 

 

 

7.6

 %

 

 

38,618

 

 

 

6.1

 %

 

 

36,523

 

 

 

7.0

 %

Total revenue*

 

$

343,129

 

 

 

100.0

%

 

$

253,597

 

 

 

100.0

 %

 

$

635,078

 

 

 

100.0

 %

 

$

520,204

 

 

 

100.0

 %

*The sum of the individual percentages may not equal 100% due to rounding.

 

See Note 13 for additional discussion of the Company’s disaggregated revenue by geography.
Contract with Customer, Contract Asset, Contract Liability, and Receivable [Table Text Block] us-gaap_ContractWithCustomerAssetAndLiabilityTableTextBlock

Changes in deferred revenue were as follows:

 

Three Months Ended

 

 

Six Months Ended

 

June 30,

 

 

June 28,

 

 

June 30,

 

 

June 28,

 

2026

 

 

2025

 

 

2026

 

 

2025

 

 

(in thousands)

 

Balance, beginning of the period

$

39,733

 

 

$

43,599

 

 

$

38,031

 

 

$

37,836

 

Deferral of revenue

 

24,239

 

 

 

22,635

 

 

 

40,794

 

 

 

51,616

 

Recognition of current year deferred revenue

 

(5,658

)

 

 

(14,956

)

 

 

(19,489

)

 

 

(29,187

)

Recognition of prior period deferred revenue

 

(13,722

)

 

 

(7,733

)

 

 

(14,744

)

 

 

(16,720

)

Balance, end of the period

$

44,592

 

 

$

43,545

 

 

$

44,592

 

 

$

43,545

 
Segment Reporting [Table Text Block] us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock

The table below presents the Company’s consolidated operating results including significant segment expenses:

 

 

Three Months Ended

 

 

Six Months Ended

 

 

 

June 30,

 

 

June 28,

 

 

June 30,

 

 

June 28,

 

 

 

2026

 

 

2025

 

 

2026

 

 

2025

 

 

 

(in thousands)

 

Revenue

 

$

343,129

 

 

$

253,597

 

 

$

635,078

 

 

$

520,204

 

Less:

 

 

 

 

 

 

 

 

 

 

 

 

Adjusted cost of revenue (1)

 

 

147,616

 

 

 

115,284

 

 

 

276,841

 

 

 

235,023

 

Adjusted research and development (2)

 

 

38,879

 

 

 

35,292

 

 

 

73,977

 

 

 

64,012

 

Adjusted sales and marketing (2)

 

 

23,061

 

 

 

14,910

 

 

 

44,520

 

 

 

34,626

 

Adjusted general and administrative (2)

 

 

30,753

 

 

 

22,496

 

 

 

59,047

 

 

 

44,432

 

Other segment items:

 

 

 

 

 

 

 

 

 

 

 

 

Restructuring and other (3)

 

 

15,268

 

 

 

22,415

 

 

 

30,664

 

 

 

27,173

 

Merger and acquisitions related (3)

 

 

4,303

 

 

 

2,507

 

 

 

13,566

 

 

 

2,666

 

Amortization

 

 

19,699

 

 

 

8,446

 

 

 

39,399

 

 

 

16,891

 

Operating income

 

 

63,550

 

 

 

32,247

 

 

 

97,064

 

 

 

95,381

 

Total other income, net

 

 

4,946

 

 

 

7,494

 

 

 

9,484

 

 

 

16,017

 

Provision for income taxes

 

 

8,394

 

 

 

5,830

 

 

 

12,696

 

 

 

13,392

 

Net income

 

$

60,102

 

 

$

33,911

 

 

$

93,852

 

 

$

98,006

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(1) Excludes restructuring and other expenses and merger and acquisition related expenses

 

(2) Excludes merger and acquisition related expenses

 

(3) The Company excludes these expenses in order to provide better comparability between periods as they are not representative of the Company’s ongoing operations.

 
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Customer, Extent of Reliance [Table Text Block] us-gaap_ScheduleOfRevenueByMajorCustomersByReportingSegmentsTableTextBlock

The following customers accounted for 10.0% or more of total revenue for the indicated periods:

 

 

Six Months Ended

 

 

 

June 30,

 

 

June 28,

 

 

 

2026

 

 

2025

 

Customer A

 

 

16.2

%

 

 

21.6

%

Customer B

 

 

15.9

%

 

 

16.8

%

Customer C

 

 

14.9

%

 

 

17.6

%

Customer D

 

 

10.3

%

 

^

 

^ The customer accounted for less than 10.0% of total revenue during the period.

 

 

 

 

 

 

Five customers’ accounts receivable balances were individually greater than 10.0% of net accounts receivable at June 30, 2026, representing, in the aggregate approximately 64.3% of the Company’s total accounts receivable.

One customer’s accounts receivable balances was individually greater than 10.0% of net accounts receivable at January 3, 2026, representing, approximately 12.2% of the Company’s total accounts receivable.

Substantially all of the Company’s long-lived assets are located within the United States of America.
Bridge Loan [Member]  
Debt Issuance Costs Incurred During Noncash or Partial Noncash Transaction us-gaap_DebtIssuanceCostsIncurredDuringNoncashOrPartialNoncashTransaction $ 678,000
ConvertibleSeniorNotesDue2031Member  
Debt Issuance Costs Incurred During Noncash or Partial Noncash Transaction us-gaap_DebtIssuanceCostsIncurredDuringNoncashOrPartialNoncashTransaction $ 1,941,000