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Stockholders' Equity (Tables) | 3 Months Ended
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Mar. 29, 2024
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 |
|  | March 29, 2024 |  |  | March 31, 2023 |
Employee stock options |  | $ | 3,173 |  |  | $ | 2,977 |
Restricted stock |  |  | 28 |  |  |  | 67 |
RSUs |  |  | 2,312 |  |  |  | 1,601 |
PSUs |  |  | 685 |  |  |  | 1,106 |
Nonemployee stock options |  |  | 141 |  |  |  | 314 |
Total stock-based compensation expense |  | $ | 6,339 |  |  | $ | 6,065 |
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 |
|  | March 29, 2024 |  |  | March 31, 2023 |
Cost of sales |  | $ | 298 |  |  | $ | 149 |
General and administrative |  |  | 3,075 |  |  |  | 3,363 |
Selling and marketing |  |  | 1,210 |  |  |  | 857 |
Research and development |  |  | 1,756 |  |  |  | 1,696 |
Total stock-based compensation expense, net |  |  | 6,339 |  |  |  | 6,065 |
Amounts capitalized as part of inventory |  |  | 337 |  |  |  | 369 |
Total stock-based compensation expense, gross |  | $ | 6,676 |  |  | $ | 6,434 |
Schedule of Unrecognized Compensation Cost, Non-Vested Stock-Based Compensation Arrangements | As of March 29, 2024, total unrecognized compensation cost related to non-vested stock-based compensation arrangements were as follows (in thousands):
|  | March 29, 2024 |
Stock options |  | $ | 28,392 |
Restricted stock, RSUs and PSUs |  |  | 43,614 |
Total unrecognized stock-based compensation cost |  | $ | 72,006 |
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 |
|  | March 29, 2024 |  |  | March 31, 2023 |
Expected dividend yield |  |  | 0 | % |  |  | 0 | %
Expected volatility |  |  | 59 | % |  |  | 60 | %
Risk-free interest rate |  |  | 4.16 | % |  |  | 3.96 | %
Expected term (in years) |  |  | 5.29 |  |  |  | 5.05 |
Schedule of Share-based Compensation, Stock Options, Activity | A summary of stock option activity under the Equity Plan for three months ended March 29, 2024 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 29, 2023 |  |  | 2,630 |  |  | $ | 46.38 |  |  |  |  |  |  |
Granted |  |  | 523 |  |  |  | 37.21 |  |  |  |  |  |  |
Exercised |  |  | (187 | ) |  |  | 28.50 |  |  |  |  |  |  |
Forfeited or expired |  |  | (83 | ) |  |  | 76.05 |  |  |  |  |  |  |
Outstanding at March 29, 2024 |  |  | 2,883 |  |  | $ | 45.01 |  |  |  | 6.98 |  |  | $ | 16,386 |
Exercisable at March 29, 2024 |  |  | 1,668 |  |  | $ | 42.93 |  |  |  | 5.41 |  |  | $ | 15,090 |
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 three months ended March 29, 2024 is presented below (shares in thousands):
|  | Restricted Stock |  |  | RSUs |  |  | PSUs |
Unvested at December 29, 2023 |  |  | 14 |  |  |  | 401 |  |  |  | 56 |
Granted |  |  | — |  |  |  | 415 |  |  |  | 390 |
Vested |  |  | — |  |  |  | (110 | ) |  |  | (24 | )
Forfeited or expired |  |  | (4 | ) |  |  | (1 | ) |  |  | (4 | )
Unvested at March 29, 2024 |  |  | 10 |  |  |  | 705 |  |  |  | 418 |

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- Definition Tabular disclosure of allocation of amount expensed and capitalized for award under share-based payment arrangement to statement of income or comprehensive income and statement of financial position. Includes, but is not limited to, corresponding line item in financial statement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(1) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
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- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Subparagraph (f)(2) -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
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