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Stockholders’ Deficit | 9 Months Ended
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Sep. 28, 2024
Equity [Abstract] |
Stockholders’ Deficit | Stockholders’ Deficit As of September 28, 2024, the Company’s shares consisted of 500,000,000 authorized shares of common stock, par value $0.0001 per share, of which 65,171,128 shares of common stock were issued and outstanding, and 500,000 authorized shares of preferred stock, par value $0.0001 per share, of which no shares were issued and outstanding. As of December 31, 2023, the Company’s shares consisted of 500,000,000 authorized shares of common stock, par value $0.0001 per share, of which 64,624,140 shares were issued and outstanding, and 500,000 authorized shares of preferred stock, par value $0.0001 per share, of which no shares were issued and outstanding. The Company has not declared or paid any dividends, or authorized or made any distribution upon or with respect to any class or series of its capital stock. Common Stock Common stock reserved for future issuance consisted of the following:
|  | September 28, 2024 |  | December 31, 2023
Equity incentive compensation awards granted and outstanding |  | 8,032,742 |  |  | 5,888,077 |
Shares available for grant under the 2018 Equity Incentive Plan(1) |  | 7,462,253 |  |  | 8,230,500 |
Shares available for issuance under the Employee Stock Purchase Plan |  | 3,484,845 |  |  | 2,948,715 |
Shares reserved for potential issuance under the Notes |  | 8,234,230 |  |  | 8,234,230 |
Total common stock reserved for future issuance(1)(2) |  | 27,214,070 |  |  | 25,301,522 |
_________________ (1) Shares available for issuance under the 2018 Equity Incentive Plan includes 225,967 shares that may be issued pursuant to performance stock units if 200% of the applicable performance target is achieved. (2) Total common stock reserved for future issuance does not include shares that may be issued pursuant to the ATM Program discussed below. ATM Program In May 2023, the Company filed an automatic shelf registration statement on Form S-3 (the “2023 Shelf Registration Statement”) with the SEC registering an indeterminate amount of its common stock, preferred stock, debt securities, warrants, purchase contracts and units (collectively, “Company securities”). On March 18, 2024, the Company filed an updated shelf registration statement on Form S-3 (the “2024 Shelf Registration Statement”), which the SEC declared effective on April 12, 2024 and which replaced the 2023 Shelf Registration Statement. The 2024 Shelf Registration Statement allows the Company to sell, from time to time and at its discretion, Company securities having an aggregate offering price of up to $250.0 million including up to $200.0 million in shares of common stock that may be sold pursuant to the Company’s equity distribution agreement (the “Equity Distribution Agreement”) with Goldman Sachs & Co. LLC (“Goldman Sachs”), as sales agent, under an “at the market” offering program (the “ATM Program”). Pursuant to the Equity Distribution Agreement, the Company may offer and sell common stock having an aggregate offering price of up to $200.0 million from time to time to or through Goldman Sachs, as the sales agent, subject to compliance with applicable laws and the applicable requirements of the Equity Distribution Agreement. The Equity Distribution Agreement also requires the Company to pay Goldman Sachs a commission equal to 3.25% of the aggregate gross proceeds of any shares sold through Goldman Sachs pursuant to the Equity Distribution Agreement. The Company intends to use the net proceeds, if any, from sales of common stock issued under the ATM Program for general corporate and working capital purposes. The timing of any sales and the number of shares sold, if any, will depend on a variety of factors to be determined and considered by the Company. The Company is not obligated to sell any shares under the Equity Distribution Agreement. As of September 28, 2024, no sales had been made under the Equity Distribution Agreement and the ATM Program’s full capacity remained available.

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