NET LOSS PER SHARE

12 Months Ended

Dec. 29, 2024

During the fiscal years ended December 29, 2024, December 31, 2023, and December 25, 2022, 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:


(dollar amounts in thousands)	Fiscal Year Ended December 29, 2024		Fiscal Year Ended December 31, 2023		Fiscal Year Ended December 25, 2022
Numerator:
Net loss	$	(90,373)	$	(113,384)	$	(190,441)
Denominator:
Weighted-average common shares outstanding—basic and diluted	114,321,672		111,907,675		110,128,287
Earnings per share—basic and diluted	$	(0.79)	$	(1.01)	$	(1.73)

The Company’s potentially dilutive securities, which include 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:


	Fiscal Year Ended December 29, 2024	Fiscal Year Ended December 31, 2023	Fiscal Year Ended December 25, 2022
Options to purchase common stock	13,169,869	13,219,388	13,813,922
Time-based vesting restricted stock units	910,024	951,517	1,780,681
Performance stock units	4,500,000	6,621,428	6,621,428
Contingently issuable stock	500,000	714,285	714,285
Total common stock equivalents	19,079,893	21,506,618	22,930,316