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OTHER FINANCIAL STATEMENT INFORMATION | 6 Months Ended
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Jun. 27, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
OTHER FINANCIAL STATEMENT INFORMATION | OTHER FINANCIAL STATEMENT INFORMATION The following tables provide details of selected balance sheet components:
Accounts receivable, net: | As of
(in thousands) | June 27, 2025 |  | December 31, 2024
Accounts receivable | $ | 122,436 |  |  | $ | 180,541 |
Less: allowances for expected credit losses and sales returns | (1,771) |  |  | (2,528) |
Total | $ | 120,665 |  |  | $ | 178,013 |
Inventories: | As of
(in thousands) | June 27, 2025 |  | December 31, 2024
Finished goods | $ | 47,612 |  |  | $ | 37,634 |
Raw materials | 10,737 |  |  | 14,214 |
Work-in-process | 3,948 |  |  | 2,951 |
Service-related spares | 8,841 |  |  | 9,205 |
Total | $ | 71,138 |  |  | $ | 64,004 |
Prepaid expenses and other current assets: | As of
(in thousands) | June 27, 2025 |  | December 31, 2024
Prepaid expenses | $ | 12,312 |  |  | $ | 4,219 |
Contract assets | 4,243 |  |  | 4,288 |
Other current assets | 10,225 |  |  | 13,763 |
Total | $ | 26,780 |  |  | $ | 22,270 |
Property and equipment, net: | As of
(in thousands) | June 27, 2025 |  | December 31, 2024
Machinery and equipment | $ | 79,815 |  |  | $ | 77,710 |
Capitalized software | 27,435 |  |  | 26,882 |
Leasehold improvements | 25,992 |  |  | 25,701 |
Furniture and fixtures | 2,625 |  |  | 2,583 |
Construction-in-progress | 3,275 |  |  | 1,081 |
Property and equipment, gross | 139,142 |  |  | 133,957 |
Less: accumulated depreciation and amortization | (111,115) |  |  | (107,134) |
Total | $ | 28,027 |  |  | $ | 26,823 |
During the second quarter of 2025, the Company recognized impairment charges of $0.3 million related to leasehold improvements. Refer to Note 4, “Leases” for more details.
Other current liabilities: | As of
(in thousands) | June 27, 2025 |  | December 31, 2024
Accrued employee compensation and related expenses | $ | 23,029 |  |  | $ | 25,053 |
Income tax payable | 1,238 |  |  | 11,728 |
Accrued customer rebates | 10,775 |  |  | 5,327 |
Accrued liabilities for excess and obsolete inventory | 8,638 |  |  | 7,247 |
Other | 22,626 |  |  | 23,085 |
Total | $ | 66,306 |  |  | $ | 72,440 |

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- Definition The entire disclosure for supplemental balance sheet disclosures, including descriptions and amounts for assets, liabilities, and equity. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 210 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/210/tableOfContent + Details
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