v3.26.1
Summary of Significant Accounting Policies (Tables)
6 Months Ended
Jun. 27, 2026
Accounting Policies [Abstract]  
Schedule of Error Corrections and Prior Period Adjustments
The following tables reflect the effects of these error corrections to the previously issued interim unaudited condensed consolidated financial statements for the three and six months ended June 28, 2025, which are presented as comparative in this Quarterly Report on Form 10-Q for the three and six months ended June 27, 2026 (in thousands):
Condensed Consolidated Statement of Operations (unaudited)
Three Months Ended June 28, 2025
As Previously ReportedInventory ValuationDebt Issuance CostsAs Corrected
Cost of goods sold$66,367 $671 $— $67,038 
Gross profit$8,591 $(671)$— $7,920 
Selling, general and administrative expenses$37,696 $— $1,932 $39,628 
Total operating expenses$43,503 $— $1,932 $45,435 
Loss from operations$(34,912)$(671)$(1,932)$(37,515)
Loss before taxes$(29,183)$(671)$(1,932)$(31,786)
Net loss$(29,242)$(671)$(1,932)$(31,845)
Net loss per share available to common stockholders—basic and diluted$(0.38)$(0.01)$(0.03)$(0.42)
Condensed Consolidated Statement of Operations (unaudited)
Six Months Ended June 28, 2025
As Previously ReportedInventory ValuationDebt Issuance CostsAs Corrected
Cost of goods sold$136,163 $6,531 $— $142,694 
Gross profit$7,526 $(6,531)$— $995 
Selling, general and administrative expenses$85,368 $— $4,242 $89,610 
Total operating expenses$98,637 $— $4,242 $102,879 
Loss from operations$(91,111)$(6,531)$(4,242)$(101,884)
Loss before taxes$(82,088)$(6,531)$(4,242)$(92,861)
Net loss$(82,158)$(6,531)$(4,242)$(92,931)
Net loss per share available to common stockholders—basic and diluted$(1.08)$(0.08)$(0.06)$(1.22)
Condensed Consolidated Statement of Comprehensive Loss (unaudited)
Three Months Ended June 28, 2025
As Previously ReportedInventory ValuationDebt Issuance CostsAs Corrected
Net loss$(29,242)$(671)$(1,932)$(31,845)
Comprehensive loss$(31,710)$(671)$(1,932)$(34,313)
Condensed Consolidated Statement of Comprehensive Loss (unaudited)
Six Months Ended June 28, 2025
As Previously ReportedInventory ValuationDebt Issuance CostsAs Corrected
Net loss$(82,158)$(6,531)$(4,242)$(92,931)
Comprehensive loss$(85,666)$(6,531)$(4,242)$(96,439)
Condensed Consolidated Statement of Cash Flows (unaudited)
Six Months Ended June 28, 2025
As Previously ReportedInventory ValuationDebt Issuance CostsAs Corrected
Net loss$(82,158)$(6,531)$(4,242)$(92,931)
Inventories$4,709 $6,531 $— $11,240 
Prepaid expenses and other current assets$(8,473)$— $5,623 $(2,850)
Net cash used in operating activities$(59,355)$— $1,381 $(57,974)
Debt issuance costs$(5,117)$— $(1,381)$(6,498)
Net cash provided by financing activities$33,640 $— $(1,381)$32,259