Summary of Significant Accounting Policies (Tables)

6 Months Ended

Jul. 03, 2026

The following table summarizes the activity related to the Company’s allowance for credit losses during the six months ended July 3, 2026 and June 30, 2025 (in thousands):


	Three Months Ended July 3, 2026		Three Months Ended June 30, 2025		Six Months Ended July 3, 2026		Six Months Ended June 30, 2025
Beginning balance	$	265	$	237	$	263	242
Write-offs of receivables	—		—		—		—
Increase in allowance for credit losses	40		58		42		53
Ending balance	$	305	$	295	$	305	295

Schedule of Inventory, Net of Reserves

As of July 3, 2026 and December 31, 2025, inventory, net of reserves, consisted of the following (in thousands):


	July 3, 2026		December 31, 2025
Finished goods	$	45,383	$	30,946
Work-in-progress	28,761		27,919
Raw materials	28,257		10,832
Inventory, net	$	102,401	$	69,697

Schedule of Property, Plant and Equipment, Net

The Company accounts for depreciation and amortization using the straight-line method to allocate the cost of property, plant and equipment over their estimated useful lives as follows:


			Estimated Useful Life (in Years)
Buildings			25
Building improvements			3 – 12
Machinery and equipment			3 – 7
Furniture, fixtures and vehicles			3 – 5
Leasehold improvements			Shorter of the estimated useful life or the remaining lease term

Property, plant and equipment, net as of July 3, 2026 and December 31, 2025 consists of the following (in thousands):


	July 3, 2026		December 31, 2025
Machinery and equipment	$	37,741	$	35,141
Buildings and building improvements	19,616		19,592
Land	1,751		1,751
Furniture, fixtures and vehicles	2,614		2,740
Leasehold improvements	1,378		1,383
Property and equipment, gross	63,100		60,607
Less: Accumulated depreciation	(25,330)		(22,182)
Plus: Construction in-progress	4,687		3,917
Property and equipment, net	$	42,457	$	42,342

Schedule of Fair Value on Recurring Basis

The following table summarizes the classification between the three levels of the fair value hierarchy of the Company’s financial instruments measured/disclosed at fair value on a recurring basis as of July 3, 2026 (in thousands):


	Financial Statement Classification	Level 1		Level 2		Level 3		Total Fair Value
Assets:
Equity securities	Marketable securities	$	4,923	$	—	$	—	$	4,923
Total Assets		$	4,923	$	—	$	—	$	4,923

Liabilities:
Interest rate collar derivatives	Other liabilities	$	—	$	11	$	—	$	11
Contingent consideration	Other liabilities	—		—		239		239
Total Liabilities		$	—	$	11	$	239	$	250


	Financial Statement Classification	Level 1		Level 2		Level 3		Total Fair Value
Assets:
Equity securities	Marketable securities	$	202	$	—	$	—	$	202
Total Assets		$	202	$	—	$	—	$	202

Liabilities:
Interest rate collar derivatives	Other liabilities	$	—	$	66	$	—	$	66
Contingent consideration	Other liabilities	—		—		288		288
Total Liabilities		$	—	$	66	$	288	$	354