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Stockholders' Equity (Tables) | 9 Months Ended
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Sep. 29, 2023
Stockholders' Equity Note [Abstract] |
Schedule of Compensation Cost | The cost that has been charged against income for stock-based compensation is set forth below (in thousands):
|  | Three Months Ended |  |  | Nine Months Ended |
|  | September 29, 2023 |  |  | September 30, 2022 |  |  | September 29, 2023 |  |  | September 30, 2022 |
Employee stock options |  | $ | 3,517 |  |  | $ | 2,865 |  |  | $ | 9,973 |  |  | $ | 7,649 |
Restricted stock |  |  | 201 |  |  |  | 67 |  |  |  | 347 |  |  |  | 618 |
Restricted stock units |  |  | 2,214 |  |  |  | 1,249 |  |  |  | 5,963 |  |  |  | 3,242 |
Performance stock units |  |  | 2,449 |  |  |  | 1,240 |  |  |  | 5,958 |  |  |  | 2,932 |
Nonemployee stock options |  |  | 465 |  |  |  | 306 |  |  |  | 1,093 |  |  |  | 934 |
Total stock-based compensation expense |  | $ | 8,846 |  |  | $ | 5,727 |  |  | $ | 23,334 |  |  | $ | 15,375 |
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):
|  | Three Months Ended |  |  | Nine Months Ended |
|  | September 29, 2023 |  |  | September 30, 2022 |  |  | September 29, 2023 |  |  | September 30, 2022 |
Cost of sales |  | $ | 223 |  |  | $ | 233 |  |  | $ | 595 |  |  | $ | 409 |
General and administrative |  |  | 4,049 |  |  |  | 2,584 |  |  |  | 11,107 |  |  |  | 7,171 |
Selling and marketing |  |  | 2,561 |  |  |  | 1,335 |  |  |  | 5,910 |  |  |  | 3,548 |
Research and development |  |  | 2,013 |  |  |  | 1,575 |  |  |  | 5,722 |  |  |  | 4,247 |
Total stock-based compensation expense, net |  |  | 8,846 |  |  |  | 5,727 |  |  |  | 23,334 |  |  |  | 15,375 |
Amounts capitalized as part of inventory |  |  | 534 |  |  |  | 361 |  |  |  | 1,431 |  |  |  | 1,379 |
Total stock-based compensation expense, gross |  | $ | 9,380 |  |  | $ | 6,088 |  |  | $ | 24,765 |  |  | $ | 16,754 |
Schedule of Unrecognized Compensation Cost, Non-Vested Stock-Based Compensation Arrangements | As of September 29, 2023, total unrecognized compensation cost related to non-vested stock-based compensation arrangements were as follows (in thousands):
|  | September 29, 2023 |
Stock options |  | $ | 23,888 |
Restricted stock, RSUs and PSUs |  |  | 24,690 |
Total unrecognized stock-based compensation cost |  | $ | 48,578 |
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.
|  | Three Months Ended |  |  | Nine Months Ended |
|  | September 29, 2023 |  |  | September 30, 2022 |  |  | September 29, 2023 |  |  | September 30, 2022 |
Expected dividend yield |  |  | 0 | % |  |  | 0 | % |  |  | 0 | % |  |  | 0 | %
Expected volatility |  |  | 60 | % |  |  | 54 | % |  |  | 60 | % |  |  | 54 | %
Risk-free interest rate |  |  | 4.18 | % |  |  | 2.91 | % |  |  | 3.91 | % |  |  | 1.88 | %
Expected term (in years) |  |  | 5.05 |  |  |  | 5.10 |  |  |  | 5.05 |  |  |  | 5.10 |
Schedule of Share-based Compensation, Stock Options, Activity | A summary of stock option activity under the Plan for nine months ended September 29, 2023 is presented below:
|  | Stock Options (in 000’s) |  |  | Weighted- Average Exercise Price |  |  | Weighted- Average Remaining Contractual Term (years) |  |  | Aggregate Intrinsic Value (in 000’s) |
Outstanding at December 30, 2022 |  |  | 2,469 |  |  | $ | 39.63 |  |  |  |  |  |  |
Granted |  |  | 622 |  |  |  | 55.84 |  |  |  |  |  |  |
Exercised |  |  | (500 | ) |  |  | 18.54 |  |  |  |  |  |  |
Forfeited or expired |  |  | (38 | ) |  |  | 72.49 |  |  |  |  |  |  |
Outstanding at September 29, 2023 |  |  | 2,553 |  |  | $ | 47.22 |  |  |  | 6.77 |  |  | $ | 19,641 |
Exercisable at September 29, 2023 |  |  | 1,663 |  |  | $ | 39.11 |  |  |  | 5.52 |  |  | $ | 19,641 |
Schedule of Share-based Compensation, Restricted Stock, RSUs and PSUs Activity | A summary of restricted stock, RSUs and PSUs activity under the Plan for the nine months ended September 29, 2023 is presented below (shares in thousands):
|  | Restricted Stock |  |  | RSUs |  |  | PSUs |
Unvested at December 30, 2022 |  |  | 4 |  |  |  | 192 |  |  |  | 118 |
Granted |  |  | 12 |  |  |  | 269 |  |  |  | 182 |
Vested |  |  | (4 | ) |  |  | (94 | ) |  |  | (36 | )
Forfeited or expired |  |  | — |  |  |  | (6 | ) |  |  | (13 | )
Unvested at September 29, 2023 |  |  | 12 |  |  |  | 361 |  |  |  | 251 |

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