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NET LOSS PER SHARE | 6 Months Ended
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Jun. 30, 2024
Earnings Per Share [Abstract] |
NET LOSS PER SHARE | NET LOSS PER SHARE During the thirteen and twenty-six weeks ended June 30, 2024 and June 25, 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 |  | Twenty-six weeks ended
| June 30, 2024 |  | June 25, 2023 |  | June 30, 2024 |  | June 25, 2023
(dollar amounts in thousands) |  |  |  |  |  |  |
Numerator: |  |  |  |  |  |  |
Net loss | $ | (14,460) |  |  | $ | (27,258) |  |  | $ | (40,527) |  |  | $ | (60,915) |
Denominator: |  |  |  |  |  |  |
Weighted-average common shares outstanding—basic and diluted | 113,580,674 |  |  | 111,585,282 |  |  | 113,238,928 |  |  | 111,441,435 |
Earnings per share—basic and diluted | $ | (0.13) |  |  | $ | (0.24) |  |  | $ | (0.36) |  |  | $ | (0.55) |
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 |  | Twenty-six weeks ended
| June 30, 2024 |  | June 25, 2023 |  | June 30, 2024 |  | June 25, 2023
Options to purchase common stock | 13,839,897 |  |  | 13,873,261 |  |  | 13,839,897 |  |  | 13,873,261 |
Time-based vesting restricted stock units | 1,089,930 |  |  | 1,451,429 |  |  | 1,089,930 |  |  | 1,451,429 |
Performance stock units | 6,300,000 |  |  | 6,621,428 |  |  | 6,300,000 |  |  | 6,621,428 |
Contingently issuable stock | 506,243 |  |  | 714,285 |  |  | 506,243 |  |  | 714,285 |
Total common stock equivalents | 21,736,070 |  |  | 22,660,403 |  |  | 21,736,070 |  |  | 22,660,403 |

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482662/260-10-50-1 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/260/tableOfContent Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482662/260-10-50-2 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482662/260-10-50-3 + Details
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