Stockholders' Equity (Tables)
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9 Months Ended |
Oct. 02, 2026 |
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| Stockholders' Equity Note [Abstract] |
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| Schedule of Compensation Cost |
The cost that has been charged against income for stock-based compensation is set forth below (in thousands):
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Three Months Ended |
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Nine Months Ended |
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October 2, 2026 |
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September 26, 2025 |
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October 2, 2026 |
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September 26, 2025 |
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Stock options |
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$ |
793 |
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$ |
1,566 |
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$ |
2,794 |
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$ |
5,611 |
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PSOs |
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203 |
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— |
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203 |
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— |
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Restricted stock |
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— |
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— |
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— |
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302 |
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RSUs |
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2,495 |
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3,382 |
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7,880 |
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9,690 |
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PSUs |
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1,699 |
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2,478 |
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5,088 |
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5,085 |
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Nonemployee stock options |
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188 |
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124 |
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564 |
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426 |
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Nonemployee RSUs |
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139 |
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608 |
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|
371 |
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|
861 |
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Total stock-based compensation expense |
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$ |
5,517 |
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$ |
8,158 |
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$ |
16,900 |
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$ |
21,975 |
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| Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs |
The Company recorded stock-based compensation costs in the following categories (in thousands):
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Three Months Ended |
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Nine Months Ended |
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October 2, 2026 |
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September 26, 2025 |
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October 2, 2026 |
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September 26, 2025 |
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Cost of sales |
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$ |
296 |
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$ |
48 |
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$ |
806 |
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$ |
428 |
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General and administrative |
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2,772 |
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5,026 |
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7,717 |
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12,352 |
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Selling and marketing |
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1,275 |
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1,492 |
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3,765 |
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4,078 |
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Research and development |
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1,174 |
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1,592 |
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4,612 |
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5,117 |
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Total stock-based compensation expense, net |
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5,517 |
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8,158 |
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16,900 |
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21,975 |
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Amounts capitalized as part of inventory |
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103 |
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64 |
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321 |
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568 |
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Total stock-based compensation expense, gross |
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$ |
5,620 |
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$ |
8,222 |
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$ |
17,221 |
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$ |
22,543 |
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| Schedule of Unrecognized Compensation Cost and Weighted-Average Period of Recognition, Non-Vested Stock-Based Compensation Arrangements |
As of October 2, 2026, total unrecognized compensation cost and the weighted-average period of recognition related to non-vested stock-based compensation arrangements were as follows (dollars in thousands):
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Unrecognized Compensation Costs |
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Weighted-Average Recognition Period (in Years) |
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Stock options |
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$ |
3,936 |
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1.9 |
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PSOs |
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4,502 |
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3.2 |
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RSUs |
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17,870 |
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1.9 |
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PSUs |
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6,503 |
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1.2 |
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Total unrecognized stock-based compensation cost |
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$ |
32,811 |
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1.9 |
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| Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions |
The risk-free rate is based on the U.S. Treasury yield curve corresponding to the expected term at the time of the grant. Note 11 — Stockholders’ Equity (Continued) Assumptions (Continued)
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Three Months Ended |
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Nine Months Ended |
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October 2, 2026 |
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September 26, 2025 |
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October 2, 2026 |
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September 26, 2025 |
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Stock Options |
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Expected dividend yield |
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0 |
% |
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0 |
% |
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0 |
% |
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0 |
% |
Expected volatility |
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62 |
% |
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60 |
% |
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62 |
% |
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60 |
% |
Risk-free interest rate |
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4.39 |
% |
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3.83 |
% |
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4.29 |
% |
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4.07 |
% |
Expected term (in years) |
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4.86 |
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5.05 |
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4.86 |
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5.05 |
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Performance Stock Options |
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Expected dividend yield |
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0 |
% |
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— |
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0 |
% |
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— |
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Expected volatility |
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57 |
% |
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— |
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57 |
% |
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— |
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Risk-free interest rate |
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4.63 |
% |
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— |
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4.63 |
% |
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— |
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Expected term (in years) |
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5.96 |
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— |
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5.96 |
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— |
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| Schedule of Share-based Compensation, Stock Option and PSO, Activity |
A summary of stock option and PSO activity under the Equity Plan for nine months ended October 2, 2026 is presented below:
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Stock
Options
(in 000’s) |
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Weighted-
Average
Exercise
Price |
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Weighted-
Average
Remaining
Contractual
Term (years) |
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Aggregate
Intrinsic
Value
(in 000’s) |
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Outstanding at January 2, 2026 |
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1,716 |
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$ |
44.85 |
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Granted |
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504 |
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25.75 |
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Exercised |
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(88 |
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15.94 |
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Forfeited or expired |
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(161 |
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41.68 |
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Outstanding at October 2, 2026 |
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1,971 |
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$ |
41.52 |
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6.36 |
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$ |
1,223 |
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Exercisable at October 2, 2026 |
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1,385 |
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$ |
47.71 |
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5.05 |
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$ |
1,065 |
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| Schedule of Share-based Compensation, Restricted Stock, RSU and PSU Activity |
A summary of RSU and PSU activity under the Equity Plan for the nine months ended October 2, 2026 is presented below (shares in thousands):
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RSUs |
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PSUs |
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Unvested at January 2, 2026 |
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1,459 |
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|
802 |
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Granted |
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|
594 |
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|
423 |
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Vested |
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(595 |
) |
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(350 |
) |
Forfeited or expired |
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(307 |
) |
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(141 |
) |
Unvested at October 2, 2026 |
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1,151 |
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|
734 |
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Share Repurchase Program In September 2026, the Company’s Board of Directors authorized a share repurchase program under which the Company may repurchase up to $50.0 million of its outstanding common stock. During the quarter ended October 2, 2026, the Company did not repurchase any of its shares under the share repurchase program.
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