Fair Value of Financial Instruments (Tables)

6 Months Ended

Jul. 04, 2026

Schedule of Valuation of the Financial Instruments

The following summarizes the valuation of the Company’s financial instruments (in thousands). The tables do not include either cash on hand or assets and liabilities that are measured at historical cost or any basis other than fair value.


	Fair Value Measurements at July 4, 2026 Using
Description	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Total
Cash equivalents:
Money market funds	$	141,849	$	—	$	141,849

Total cash equivalents	$	141,849	$	—	$	141,849

Short-term investments:

Government debt securities	$	—	$	35,051	$	35,051
Total short-term investments	$	—	$	35,051	$	35,051

Total	$	141,849	$	35,051	$	176,900


	Fair Value Measurements at January 3, 2026 Using
Description	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Total
Cash equivalents:
Money market funds	$	206,051	$	—	$	206,051
Time deposit	—		5,595		5,595
Total cash equivalents	$	206,051	$	5,595	$	211,646

Short-term investments:

Government debt securities	$	—	$	79,400	$	79,400
Total short-term investments	$	—	$	79,400	$	79,400

Total	$	206,051	$	84,995	$	291,046

Schedule of Components of Available-For-Sale Investments

The following summarizes the components of available-for-sale investments (in thousands):


									Reported As
As of July 4, 2026	Amortized Cost Basis		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value		Cash Equivalent		Marketable Securities

Government debt securities	35,028		26		(3)		35,051		—		35,051
Money market funds	141,849		—		—		141,849		141,849		—
Total	$	176,877	$	26	$	(3)	$	176,900	$	141,849	$	35,051


									Reported As
As of January 3, 2026	Amortized Cost Basis		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value		Cash Equivalent		Marketable Securities
Time deposits	$	5,595	$	—	$	—	$	5,595	$	5,595	$	—
Government debt securities	79,148		252		—		79,400		—		79,400
Money market funds	206,051		—		—		206,051		206,051		—
Total	$	290,794	$	252	$	—	$	291,046	$	211,646	$	79,400

Schedule of Contractual Underlying Maturities

The following summarizes the contractual underlying maturities of the Company’s available-for-sale investments at July 4, 2026 (in thousands):


	Cost		Fair Value
Due in one year or less	$	33,522	$	33,546
Due after one year through five years	1,506		1,505
	$	35,028	$	35,051

Schedule of Available-For-Sale Investments in Continuous Unrealized Loss Position

The available-for-sale investments that were in a continuous unrealized loss position, aggregated by length of time that individual securities have been in a continuous loss position, were as follows (in thousands):


	Less Than 12 Months				12 Months or Greater				Total
As of July 4, 2026	Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses

Government debt securities	$	4,468	$	(3)	$	—	$	—	$	4,468	$	(3)
	$	4,468	$	(3)	$	—	$	—	$	4,468	$	(3)