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NET LOSS PER SHARE | 3 Months Ended
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Mar. 31, 2024
Earnings Per Share [Abstract] |
NET LOSS PER SHARE | NET LOSS PER SHARE During the thirteen weeks ended March 31, 2024 and March 26, 2023, the rights, including the liquidation and dividend rights, of the holders of Class A and Class B common stock were identical, except with respect to voting. As the liquidation and dividend rights were identical, the undistributed earnings were allocated on a proportionate basis and the resulting net loss per share attributable to common stockholders were, therefore, the same for both Class A and Class B common stock on an individual or combined basis. The following table sets forth the computation of net loss per common share:
| Thirteen weeks ended |  |
| March 31, 2024 |  | March 26, 2023 |  |  |  |
(dollar amounts in thousands) |  |  |  |  |  |  |
Numerator: |  |  |  |  |  |  |
Net loss | $ | (26,067) |  |  | $ | (33,657) |  |  |  |  |
Denominator: |  |  |  |  |  |  |
Weighted-average common shares outstanding—basic and diluted | 112,772,776 |  |  | 111,297,064 |  |  |  |  |
Earnings per share—basic and diluted | $ | (0.23) |  |  | $ | (0.30) |  |  |  |  |
The Company’s potentially dilutive securities, which include preferred stock, time-based vesting restricted stock units, performance stock units, contingently issuable stock and options to purchase common stock, have been excluded from the computation of diluted net loss per share as the effect would be antidilutive. Therefore, the weighted-average number of common shares outstanding used to calculate both basic and diluted net loss per share is the same. The Company excluded the following potential common shares, presented based on amounts outstanding at each period end, from the computation of diluted net loss per share for the periods indicated because including them would have had an anti-dilutive effect:
| Thirteen weeks ended |  |
| March 31, 2024 |  | March 26, 2023 |  |  |  |
Options to purchase common stock | 14,569,140 |  |  | 14,367,322 |  |  |  |  |
Time-based vesting restricted stock units | 1,177,911 |  |  | 1,610,403 |  |  |  |  |
Performance stock units | 6,300,000 |  |  | 6,621,428 |  |  |  |  |
Contingently issuable stock | 506,243 |  |  | 714,285 |  |  |  |  |
Total common stock equivalents | 22,553,294 |  |  | 23,313,438 |  |  |  |  |

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