Income Taxes |
6 Months Ended |
|---|---|
Aug. 01, 2026 | |
| Income Tax Disclosure [Abstract] | |
| Income Taxes | Note 10. Income Taxes The Company provides for income taxes at the end of each interim period based on the estimated effective tax rate for the full fiscal year. Section 382 of the Internal Revenue Code of 1986 (“IRC”) subjects the future utilization of net operating losses to an annual limitation in the event of certain ownership changes, as defined ("382 limitation"). The Company determined that under Section 382, the P180 Acquisition resulted in an ownership change in January 2025. Thus, the Company’s ability to offset current year taxable income with net operating loss carryforwards is limited. The provision for income taxes for the three and six months ended August 1, 2026 is $3,139 and $2,731, respectively. For the six months ended August 2, 2025, the Company had year-to-date ordinary pre-tax losses for the interim period and anticipated annual ordinary pre-tax income for the fiscal year. The Company determined that it is more likely than not that the tax benefit of the year-to-date ordinary pre-tax loss will not be realized in the current or future years and as such, tax provisions for the interim periods would not be recognized until the Company has year-to-date ordinary pre-tax income. The provision for income taxes of $58 for the three and six months ended August 2, 2025 represents a discrete tax expense recorded during the second quarter of fiscal 2025 relating to interest received in connection with the ERC. Each reporting period, the Company evaluates the realizability of its deferred tax assets and has maintained a full valuation allowance against its deferred tax assets. The valuation allowance will be maintained until there is sufficient positive evidence to conclude that it is more likely than not that these deferred tax assets will be realized. |