Supplemental Financial Information (Tables)
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9 Months Ended |
Sep. 26, 2026 |
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| Supplemental Financial Information |
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| Schedule of inventories |
Inventories consisted of the following (in thousands): | | | | | | | | | September 26, | | December 27, | | | 2026 | | 2025 | Raw materials | | $ | 982 | | $ | 181 | Work in process | | | 1,393 | | | 190 | Finished goods | | | 14,403 | | | 3,012 | | | $ | 16,778 | | $ | 3,383 |
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| Schedule of supplemental disclosure of cash flow information and non-cash financing activities |
The following table shows supplemental disclosures of cash flow information and non-cash financing activities (in thousands): | | | | | | | | | Nine Months Ended | | | September 26, | | September 27, | | | 2026 | | 2025 | Supplemental disclosure of cash flow information: | | | | | | | Cash paid during the year for: | | | | | | | Interest | | $ | 47 | | $ | 35 | Supplemental disclosure of non-cash investing and financing activities: | | | | | | | Debt financing of insurance | | $ | 438 | | $ | 537 | Lease modification to increase operating lease assets | | $ | 999 | | $ | — | Contract acquisition costs capitalized but not yet paid | | $ | 32,861 | | $ | — | Common stock issued in exchange for a prepaid vendor nonrefundable deposit in connection with a supply agreement | | $ | 15,990 | | $ | — |
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| Schedule of computation of basic and diluted earnings (loss) per share of common stock |
The following table shows the computation of basic and diluted earnings (loss) per share of common stock (in thousands, except per share data): | | | | | | | | | | | | | | | | | Three Months Ended | | Nine Months Ended | | | | September 26, | | September 27, | | September 26, | | September 27, | | | | 2026 | | 2025 | | 2026 | | 2025 | Numerator: Net income (loss) | | | $ | 85,448 | | $ | (7,010) | | $ | 95,496 | | $ | (22,575) | | | | | | | | | | | | | | | Denominator: | | | | | | | | | | | | | | Weighted-average basic shares outstanding | | | | 356,097 | | | 292,557 | | | 331,046 | | | 280,229 | Effect of dilutive securities | | | | 37,323 | | | — | | | 37,331 | | | — | Weighted-average diluted shares | | | | 393,420 | | | 292,557 | | | 368,377 | | | 280,229 | | | | | | | | | | | | | | | Basic income (loss) per share | | | $ | 0.24 | | $ | (0.02) | | $ | 0.29 | | $ | (0.08) | Diluted income (loss) per share | | | $ | 0.22 | | $ | (0.02) | | $ | 0.26 | | $ | (0.08) |
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| Schedule of potential common shares excluded from diluted net loss per share calculations |
These potential weighted average common share equivalents have been included in the three and nine months ended September 26, 2026 in the diluted net earnings per share calculations above as their effect would be dilutive and excluded in the three and nine months ended September 27, 2025 from the diluted net loss per share calculations above as their effect would be anti-dilutive (in thousands): | | | | | | | | | | | | | | | | | Three Months Ended | | Nine Months Ended | | | | September 26, | | September 27, | | September 26, | | September 27, | | | | 2026 | | 2025 | | 2026 | | 2025 | Weighted average common share equivalents | | | | 37,323 | | | 418 | | | 37,331 | | | 532 |
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| Schedule of disaggregation of sales by major source |
The following table shows disaggregated net sales by major source (in thousands): | | | | | | | | | | | | | | | Three Months Ended | | Nine Months Ended | | | September 26, | | September 27, | | September 26, | | September 27, | | | 2026 | | 2025 | | 2026 | | 2025 | Net product sales | | $ | 60,194 | | $ | 42,234 | | $ | 274,931 | | $ | 112,915 | License fee | | | 44,910 | | | — | | | 44,910 | | | — | Total net sales | | $ | 105,104 | | $ | 42,234 | | $ | 319,841 | | $ | 112,915 |
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| Schedule of sales from external customers by geographic area |
Net sales by country presented below are based on the billing location of the customer (in thousands): | | | | | | | | | | | | | | | Three Months Ended | | Nine Months Ended | | | September 26, | | September 27, | | September 26, | | September 27, | | | 2026 | | 2025 | | 2026 | | 2025 | United States | | $ | 27,799 | | $ | 3,618 | | $ | 53,294 | | $ | 7,446 | People's Republic of China (1) | | | 12,479 | | | 36,112 | | | 167,362 | | | 101,129 | Malaysia | | | 14,902 | | | 1,026 | | | 45,291 | | | 1,777 | Republic of Korea | | | 44,910 | | | — | | | 44,910 | | | — | Other countries | | | 5,014 | | | 1,478 | | | 8,984 | | | 2,563 | Total net sales | | $ | 105,104 | | $ | 42,234 | | $ | 319,841 | | $ | 112,915 |
(1) | The People’s Republic of China (“PRC”) includes Hong Kong and Taiwan. |
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| Schedule of customer concentration of risk |
| | | | | | | | | | | Three Months Ended | | Nine Months Ended | | | September 26, | | September 27, | | September 26, | | September 27, | | | 2026 | | 2025 | | 2026 | | 2025 | Customer A | | 15% | | 36% | | 27% | | 30% | Customer B | | * | | 13% | | * | | * | Customer C | | * | | 18% | | * | | 12% | Customer D | | 24% | | * | | 15% | | * | Customer E | | 25% | | * | | 10% | | * | Customer F | | * | | * | | 10% | | * |
* | Less than 10% of net product sales during the period. In addition, license fee revenue under the Samsung License Agreement, all of which was derived from a single licensee, represented approximately 43% and 14% of our total net sales for the three and nine months ended September 26, 2026, respectively. We had no license fee revenue during the three and nine months ended September 27, 2025. |
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| Schedule of supplier concentration of risk |
| | | | | | | | | | | Three Months Ended | | Nine Months Ended | | | September 26, | | September 27, | | September 26, | | September 27, | | | 2026 | | 2025 | | 2026 | | 2025 | Supplier A | | 19% | | 94% | | 79% | | 93% | Supplier B | | 36% | | * | | * | | * | Supplier C | | 24% | | * | | * | | * |
* | Less than 10% of purchases during the period. |
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