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Stockholders' Equity (Tables) | 12 Months Ended
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Dec. 29, 2023
Stockholders' Equity Note [Abstract] |
Schedule of Share-based Compensation, Fair Value of Stock-Based Compensation Granted | The following table represents the fair value of stock-based compensation granted during the year ended 2023 (in thousands):
|  | Fair Value |
Stock options |  | $ | 21,239 |
RSUs |  |  | 17,227 |
PSUs |  |  | 10,338 |
Restricted stock |  |  | 715 |
Total stock-based compensation expense |  | $ | 49,519 |
Schedule of Compensation Cost | The Company recorded stock-based compensation expense by award as follows (in thousands):
|  | Years Ended |
|  | 2023 |  |  | 2022 |  |  | 2021 |
Employee stock options |  | $ | 12,842 |  |  | $ | 10,403 |  |  | $ | 10,373 |
Restricted stock |  |  | 548 |  |  |  | 686 |  |  |  | 616 |
RSUs |  |  | 7,987 |  |  |  | 4,512 |  |  |  | 2,667 |
PSUs |  |  | 1,270 |  |  |  | 3,525 |  |  |  | 371 |
Nonemployee stock options |  |  | 869 |  |  |  | 1,245 |  |  |  | 578 |
Total stock-based compensation expense |  | $ | 23,516 |  |  | $ | 20,371 |  |  | $ | 14,605 |
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs | The Company recorded stock-based compensation expense in the following categories (in thousands):
|  | Years Ended |
|  | 2023 |  |  | 2022 |  |  | 2021 |
Cost of sales |  | $ | 716 |  |  | $ | 501 |  |  | $ | 215 |
General and administrative |  |  | 12,125 |  |  |  | 9,402 |  |  |  | 6,495 |
Selling and marketing |  |  | 4,083 |  |  |  | 4,795 |  |  |  | 3,454 |
Research and development |  |  | 6,592 |  |  |  | 5,673 |  |  |  | 4,441 |
Total stock-based compensation expense, net |  |  | 23,516 |  |  |  | 20,371 |  |  |  | 14,605 |
Amounts capitalized as part of inventory |  |  | 1,672 |  |  |  | 1,881 |  |  |  | 1,295 |
Total stock-based compensation expense, gross |  | $ | 25,188 |  |  | $ | 22,252 |  |  | $ | 15,900 |
Schedule of Unrecognized Compensation Cost, Non-Vested Stock-Based Compensation Arrangements | As of December 29, 2023, total unrecognized compensation cost related to non-vested stock-based compensation arrangements granted under the Equity Plan were as follows (in thousands):
|  | 2023 |
Stock options |  | $ | 22,001 |
Restricted stock, RSUs and PSUs |  |  | 16,952 |
Total unrecognized stock-based compensation cost |  | $ | 38,953 |
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.
|  | Years Ended |
|  | 2023 |  |  | 2022 |  |  | 2021 |
Expected dividend yield |  |  | 0 | % |  |  | 0 | % |  |  | 0 | %
Expected volatility |  |  | 60 | % |  |  | 54 | % |  |  | 53 | %
Risk-free interest rate |  |  | 3.98 | % |  |  | 2.09 | % |  |  | 0.84 | %
Expected term (in years) |  |  | 5.05 |  |  |  | 5.10 |  |  |  | 5.38 |
Schedule of Share-based Compensation, Stock Options, Activity | A summary of stock option activity under the Equity Plan for the year ended December 29, 2023 was as follows:
|  | Shares (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 |  |  | 749 |  |  |  | 51.88 |  |  |  |  |  |  |
Exercised |  |  | (518 | ) |  |  | 18.67 |  |  |  |  |  |  |
Forfeited or expired |  |  | (70 | ) |  |  | 72.30 |  |  |  |  |  |  |
Outstanding at December 29, 2023 |  |  | 2,630 |  |  | $ | 46.38 |  |  |  | 6.04 |  |  | $ | 10,088 |
Exercisable at December 29, 2023 |  |  | 1,704 |  |  | $ | 40.70 |  |  |  | 4.55 |  |  | $ | 10,088 |
Share-based Compensation, Performance Shares Award Unvested Activity | A summary of unvested stock options activity under the Equity Plan for the year ended December 29, 2023 was as follows:
|  | Shares (in 000’s) |  |  | Weighted- Average Grant-Date Fair Value |
Outstanding at December 30, 2022 |  |  | 633 |  |  | $ | 35.37 |
Granted |  |  | 749 |  |  |  | 28.36 |
Forfeited or expired |  |  | (70 | ) |  |  | 35.30 |
Vested |  |  | (386 | ) |  |  | 34.63 |
Unvested at December 29, 2023 |  |  | 926 |  |  | $ | 30.09 |
Summary of Weighted Average Grant Date Fair Value of Stock Options Granted Under The Equity Plan and Total intrinsic Value of Stock options Exercised | The weighted average grant date fair value of stock options granted under the Equity Plan and the total intrinsic value of stock options exercised were as follows:
|  | Years Ended |
|  | 2023 |  |  | 2022 |  |  | 2021 |
Weighted-average grant-date fair value |  | $ | 28.36 |  |  | $ | 35.68 |  |  | $ | 45.08 |
Intrinsic value of options exercised (in thousands) |  | $ | 17,041 |  |  | $ | 25,000 |  |  | $ | 127,024 |
Schedule of Share-based Compensation, Restricted Stock, RSU and PSU Activity | A summary of restricted stock, RSU and PSU activity under the Equity Plan for the year ended December 29, 2023 was as follows:
|  | Restricted Stock |  |  | Restricted Stock Units |  |  | Performance Stock Units |
|  | Units (in 000’s) |  |  | Weighted- Average Grant- Date Fair Value |  |  | Units (in 000’s) |  |  | Weighted- Average Grant- Date Fair Value |  |  | Units (in 000’s) |  |  | Weighted- Average Grant- Date Fair Value |
Outstanding at December 30, 2022 |  |  | 4 |  |  | $ | 62.10 |  |  |  | 192 |  |  | $ | 73.25 |  |  |  | 118 |  |  | $ | 73.78 |
Granted |  |  | 15 |  |  |  | 46.70 |  |  |  | 336 |  |  |  | 51.28 |  |  |  | 182 |  |  |  | 56.64 |
Vested |  |  | (5 | ) |  |  | 55.99 |  |  |  | (95 | ) |  |  | 68.43 |  |  |  | (35 | ) |  |  | 71.41 |
Forfeited or expired |  |  | — |  |  |  | — |  |  |  | (32 | ) |  |  | 75.86 |  |  |  | (209 | ) |  |  | 58.93 |
Outstanding at December 29, 2023 |  |  | 14 |  |  | $ | 47.61 |  |  |  | 401 |  |  | $ | 55.75 |  |  |  | 56 |  |  | $ | 74.80 |

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