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INCOME TAXES
 9 Months Ended
Sep. 28, 2024
Income Tax Disclosure [Abstract]  
INCOME TAXES

10. INCOME TAXES

 

The Company recorded a provision for income taxes of approximately $0.1 million in the three and nine months ended September 28, 2024, respectively. The Company recorded a provision for income taxes of less than $0.1 million and approximately $0.1 million in the three and nine months ended September 30, 2023, respectively. As of September 28, 2024, the Company has available for tax purposes U.S. federal net operating loss carryforwards (“NOLs”) of approximately $122.7 million expiring 2024 through 2038 and $107.8 million that have an unlimited carryover period. The Company has recognized a full valuation allowance on its domestic and certain foreign net deferred tax assets due to the uncertainty of the realization of such assets. The Company recognizes both accrued interest and penalties related to its uncertain tax positions related to intercompany loan interest and potential transfer pricing exposure related to its foreign subsidiaries.