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Fair Value Measurements
 6 Months Ended
Jun. 28, 2026
Fair Value Disclosures [Abstract]  
Fair Value Measurements Fair Value Measurements
Fair value on a recurring basis
As of
June 28,
2026		December 31,
2025
(In thousands)
Cash equivalents: money-market funds (<90 days)
$24,671 $71,987 
Cash equivalents: U.S. Treasuries (<90 days)
24,853 20,506 
Available-for-sale securities: U.S. Treasuries (1)
39,749 19,985 
Total$89,273 $112,478 
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(1)Included in short-term investments on our unaudited condensed consolidated balance sheets.

Our short-term investments in cash equivalents and marketable securities are classified within Level 1 of the fair value hierarchy because they are valued based on quoted market prices in active markets. As of June 28, 2026 and December 31, 2025, assets and liabilities measured as Level 2 fair value were not material and there were no financial assets measured as Level 3 fair value.

Earnout contingent consideration recognized through the Aloe Care acquisition is measured at the fair value on a recurring basis and is classified within Level 3 of the fair value hierarchy because the measurement requires the use of significant unobservable inputs. The fair value of the earnout contingent consideration was estimated using income and market-based valuation techniques and discounted to present value. Significant unobservable inputs used in the valuation include projected revenue, profitability, cash flows, and the discount rate. Changes in these assumptions could result in a significantly higher or lower fair value measurement.

The contingent consideration liability was $5.4 million as of June 28, 2026 and was included in other non-current liabilities on the unaudited condensed consolidated balance sheets. Changes in the fair value of the contingent consideration liability will be recognized in other operating expense on the unaudited condensed consolidated statements of operations and comprehensive income (loss). During the six months ended June 28, 2026, there was no fair value adjustment related to the earnout contingent consideration.

Fair value on a non-recurring basis

Our non-financial assets, such as property and equipment, goodwill, and intangible assets are assessed for impairment annually or whenever events or changes in circumstances indicate that the carrying value of an asset or asset group may not be recoverable.

Sale of long-term investment

During the first fiscal quarter of 2026, we sold our investment in connection with a privately held company’s acquisition by a public company. This investment was accounted for as an equity security without a readily determinable fair value and was measured at cost, less impairment, adjusted for observable price changes in orderly transactions for the identical or similar investment in the same issuer in accordance with ASC 321, Investments-Equity Securities. Upon completion of the sale, we received total cash proceeds of $18.9 million and recognized a realized gain of $6.4 million, representing the excess of proceeds received over the carrying value of the investment. The gain from the sale of the investment is included in other income (expense), net on the unaudited condensed consolidated statements of operations and comprehensive income (loss). Our Chief Executive Officer served on the board of directors of the privately held company and, as a result, the investee is considered a related party and the sale of our investment is a related party transaction.