v3.26.1
Unaudited Condensed Consolidated Statements of Operations and Comprehensive Income - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 28, 2026
Jun. 29, 2025
Jun. 28, 2026
Jun. 29, 2025
Income Statement [Abstract]        
Revenues $ 54,858 $ 66,115 $ 127,651 $ 144,528
Cost of revenues [1] 29,898 42,331 58,003 93,368
Gross profit 24,960 23,784 69,648 51,160
Operating expenses:        
Sales commissions 14,721 9,055 43,285 16,739
Sales and marketing 3,403 7,164 8,396 15,686
General and administrative 30,292 16,486 60,618 31,382
Total operating expenses 48,416 32,705 112,299 63,807
Loss from operations (23,456) (8,921) (42,651) (12,647)
Interest expense [2] (8,470) (6,372) (15,394) (12,413)
Interest income 3
Other non-operating income (expense), net [3] 38,820 (12,044) 69,581 2,532
Total other income (expense), net 30,350 (18,416) 54,187 (9,878)
Income (loss) before income taxes 6,894 (27,337) 11,536 (22,525)
Income tax (provision) 608
Net income (loss) 6,894 (27,337) 12,144 (22,525)
Other comprehensive income
Comprehensive income (loss), net of tax $ 6,894 $ (27,337) $ 12,144 $ (22,525)
Net income per share attributable to common stockholders        
Basic (in Dollars per share) $ 0.05 $ (0.34) $ 0.09 $ (0.28)
Diluted (in Dollars per share) $ 0 $ (0.34) $ 0 $ (0.28)
Weighted-average shares used to compute net income per share attributable to common stockholders        
Basic (in Shares) 149,417,506 81,176,254 136,849,897 80,695,825
Diluted (in Shares) 185,216,106 81,176,254 173,747,528 80,695,825
[1] Cost of revenue with SameDay Solar, a related party, was $0.4 million and $0.1 million in the thirteen weeks ended June 28, 2026 and June 29, 2025, respectively. Cost of revenue with SameDay Solar, a related party, was $0.9 million and $0.3 million in the twenty-six weeks ended June 28, 2026 and June 29, 2025. Refer to Note 17 – Related Party Transactions for details.
[2] Includes related party interest expense and amortization of debt issuance costs of $2.3 million and $1.4 million in the thirteen weeks ended June 28, 2026 and June 29, 2025, respectively. In the twenty-six week periods ended June 28, 2026 and June 29, 2025, includes related party interest and amortization of debt issuance costs of $4.6 million and $2.8 million, respectively.
[3] Includes the following related party transactions (in millions): Thirteen Weeks Ended Twenty-Six Weeks Ended June 28, 2026 June 29, 2025 June 28, 2026 June 29, 2025 Gain on remeasurement of derivative liabilities (Note 9 – Borrowings and Derivative Liabilities) $ 12.5 $ (1.6 ) $ 20.0 $ 2.1 Other income — — — 0.1