Leases

9 Months Ended

Sep. 26, 2026

Note 4—Leases

We have operating and finance leases primarily associated with office and manufacturing facilities and certain equipment. The determination of which discount rate to use when measuring the lease obligation was deemed a significant judgment.

Lease cost and supplemental condensed consolidated cash flow information related to operating and finance leases were as follows (in thousands):


	Three Months Ended					Nine Months Ended
	September 26,			September 27,		September 26,		September 27,
	2026			2025		2026		2025
Lease cost:
Operating lease cost	$	147		$	152	$	443	$	462
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	178		$	172	$	533	$	521
Lease modification to increase operating lease assets	$	—		$	—	$	999	$	—

For each of the three and nine months ended September 26, 2026 and September 27, 2025, finance lease costs and cash flows from finance leases were immaterial.

Supplemental condensed consolidated balance sheet information related to leases was as follows (in thousands):


	September 26,		December 27,
	2026		2025
Operating Leases
Operating lease right-of-use assets	$	1,154	$	541
Other current liabilities	$	424	$	619
Operating lease liabilities		716		23
Total operating lease liabilities	$	1,140	$	642

Finance Leases
Property and equipment, at cost	$	488	$	488
Accumulated depreciation		(438)		(380)
Property and equipment, net	$	50	$	108
Other current liabilities	$	—	$	3
Other liabilities		—		—
Total finance lease liabilities	$	—	$	3

The following table includes supplemental information:


	September 26,		December 27,
	2026		2025
Weighted Average Remaining Lease Term (in years)
Operating leases		3.0		1.0
Finance leases		—		0.6

Weighted Average Discount Rate
Operating leases		8.4%		5.5%
Finance leases		—		5.5%

Maturities of lease liabilities as of September 26, 2026, were as follows (in thousands):


	Operating
Fiscal Year	Leases
2026	$	178
2027		424
2028		340
2029		349
Total lease payments		1,291
Less: imputed interest		(151)
Total	$	1,140

On March 4, 2026, we entered into a First Amendment to Lease (the “Lease Amendment”) with University Research Park LLC (the “Landlord”), pursuant to which we and the Landlord agreed to renew the Company’s existing lease dated April 28, 2021 (the “Lease”), relating to our corporate headquarters located at 111 Academy, Suite 100, Irvine, CA 92617.

The Lease Amendment extends the current term of the Lease to December 31, 2029 with no renewal option. The annual base rent starting on January 1, 2027 will be $27,397 per month and increases by approximately 3% each lease year.