v3.26.1
Segment Information
 6 Months Ended
Jun. 27, 2026
Segment Reporting [Abstract]  
Segment Information Segment Information
The Company operates in one segment in the plant-based meat industry, offering a portfolio of revolutionary plant-based meats. The Company’s Chief Executive Officer and President, who reviews operating results to make decisions about allocating resources and assessing performance for the entire Company, has been identified as the Chief Operating Decision Maker.
The following table presents the details of the significant segment expenses, segment net revenues, and the segment performance measure, net income (loss), in the periods indicated (in thousands):
Three Months Ended
Six Months Ended
June 27,
2026		June 28,
2025		June 27,
2026		June 28,
2025
Net revenues$68,832 $74,958 $127,038 $143,689 
Less:
Cost of goods sold62,959 67,038 119,180 142,694 
Research and development expenses4,189 5,807 9,409 13,269 
Selling expenses 6,790 6,741 13,117 13,712 
Marketing expenses 9,426 8,061 15,054 20,150 
General and administrative expenses 16,273 24,826 42,188 55,748 
Interest expense6,571 2,002 13,303 3,026 
Remeasurement of delayed draw term loan warrant liability76 — (1,224)— 
Remeasurement of derivative liability3,838 — (8,053)— 
Gain on debt extinguishment(57,729)— (63,789)— 
Equity in losses of unconsolidated joint venture16 59 32 70 
Other segment items, net(1)
19 (7,731)(101)(12,049)
Net income (loss)
$16,404 $(31,845)$(12,078)$(92,931)
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(1) Includes Other, net and Income tax (benefit) expense as reported in the Company’s unaudited condensed consolidated statements of operations. Other, net includes $1.5 million and $0.5 million in interest income in the three months ended June 27, 2026 and June 28, 2025, respectively, and $3.0 million and $1.4 million in interest income in the six months ended June 27, 2026 and June 28, 2025, respectively. Other, net also includes $(1.8) million and $7.5 million in foreign currency transaction (losses) gains in the three months ended June 27, 2026 and June 28, 2025, respectively, and $(3.1) million and $11.0 million in foreign currency transaction (losses) gains in the three months ended June 27, 2026 and June 28, 2025, respectively. See the accompanying unaudited condensed consolidated financial statements for the other financial information regarding the Company’s operating segment.
See the accompanying unaudited condensed consolidated financial statements for other financial information regarding the Company's operating segment.