Net income (loss) per share available to common stockholders—basic is computed by dividing net income (loss) by the weighted-average number of shares of our common stock outstanding.

For the calculation of net income per share available to common stockholders—diluted, net income per share available to common stockholders—basic is adjusted by the effect of dilutive securities. Net income per share available to common stockholders—diluted is computed by dividing net income by the weighted-average number of fully diluted common shares outstanding.

For periods in which the Company reports net losses, net loss per share available to common stockholders—basic and diluted are the same because potentially dilutive common shares are not assumed to have been issued if their effect is anti-dilutive.

The numerators and denominators for the calculation of net income (loss) per share available to common stockholders—basic and diluted are as follows (in thousands, except share and per share data):


	Three Months Ended				Six Months Ended
	June 27, 2026		June 28, 2025		June 27, 2026		June 28, 2025
Numerator:

Net income (loss) available to common stockholders—basic	$	16,404	$	(31,845)	$	(12,078)	$	(92,931)
Add: Dilutive effect of 2030 Notes, net(1)	(52,933)		—		—		—

Net loss available to common stockholders—diluted	$	(36,529)	$	(31,845)	$	(12,078)	$	(92,931)










Denominator:

Weighted average common shares outstanding—basic	501,304,934		76,491,594		476,742,903		76,348,524







Effect of dilutive shares:
2030 Notes, if converted(1)	90,563,957		—		—		—


Weighted average common shares outstanding—diluted	591,868,891		76,491,594		476,742,903		76,348,524


Net income (loss) per share
Net income (loss) per share available to common stockholders—basic	$	0.03	$	(0.42)	$	(0.03)	$	(1.22)
Net loss per share available to common stockholders—diluted	$	(0.06)	$	(0.42)	$	(0.03)	$	(1.22)

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(1) For the three months ended June 27, 2026, net loss per share available to common stockholders—basic, and net loss available to common stockholders—diluted, excludes gain on debt extinguishment, remeasurement of derivative liability and interest expense, associated with the 2030 Notes during the period, as evaluated under the if-converted method. Under the if-converted method, net income is adjusted to reflect the assumption that the 2030 Notes were converted at the beginning of the period or date of issuance, if issued during the period.

The following outstanding shares of common stock equivalents were excluded from the computation of net loss per share available to common stockholders—diluted for the periods presented because the impact of including them would have been antidilutive:


	Three Months Ended		Six Months Ended
	June 27, 2026	June 28, 2025	June 27, 2026	June 28, 2025
Options to purchase common stock(1)	4,640,161	4,100,689	4,640,161	4,100,689
RSUs(1)	42,026,622	1,612,253	42,026,622	1,612,253
PSUs(1)	10,225,814	145,660	10,225,814	145,660
2027 Notes(2)	—	8,234,230	—	8,234,230
2030 Notes (if converted)	—	—	80,696,458	—
Delayed Draw Term Loan Warrants	9,558,635	3,823,454	9,558,635	3,823,454
BG Warrants	4,166,667	—	4,166,667	—
Total	65,977,738	13,815,597	146,674,196	13,815,597

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(1) As the Company recorded a net loss (on a diluted basis) in the six month months ended June 27, 2026, outstanding common stock equivalents for stock options, RSUs and PSUs were excluded, as their impact would be antidilutive.

(2) 2027 Notes are no longer convertible into shares of common stock in the three and six months ended June 27, 2026. In the three and six months ended June 28, 2025, as the Company recorded a net loss (on a diluted basis), inclusion of shares from the conversion premium or spread on the 2027 Notes would be anti-dilutive.