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Fair Value Measurements (Tables) | 12 Months Ended
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Dec. 28, 2025
Fair Value Measurements [Abstract] |
Schedule of Financial Assets and Liabilities that are Measured at Fair Value, on a Recurring Basis | The following tables set forth the Company’s financial assets and liabilities that are measured at fair value, on a recurring basis (in thousands):
|  | As of December 28, 2025 |
|  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
Financial Assets |  |  |  |  |  |  |  |  |  |  |  |
Restricted cash |  | $ | 3,841 |  |  | $ | — |  |  | $ | — |  |  | $ | 3,841 |
Total |  | $ | 3,841 |  |  | $ | — |  |  | $ | — |  |  | $ | 3,841 |
Financial Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
July 2024 Notes derivative liability (1) |  | $ | — |  |  | $ | — |  |  | $ | 19,604 |  |  | $ | 19,604 |
July 2024 Notes derivative liability – related parties (1) |  |  | — |  |  |  | — |  |  |  | 12,615 |  |  |  | 12,615 |
September 2024 Notes derivative liability (1) |  |  | — |  |  |  | — |  |  |  | 37,930 |  |  |  | 37,930 |
September 2024 Notes derivative liability – related parties (1) |  |  | — |  |  |  | — |  |  |  | 5,870 |  |  |  | 5,870 |
July 2025 Note derivative liability– related party (1) |  |  | — |  |  |  | — |  |  |  | 3,246 |  |  |  | 3,246 |
September 2025 Notes derivative liability (1) |  |  | — |  |  |  | — |  |  |  | 14,756 |  |  |  | 14,756 |
November 2025 Note derivative liability – related party (1) |  |  | — |  |  |  | — |  |  |  | 1,488 |  |  |  | 1,488 |
Forward purchase agreement liabilities |  |  | — |  |  |  | — |  |  |  | 3,965 |  |  |  | 3,965 |
SAFE Agreement with related party |  |  | — |  |  |  | — |  |  |  | 535 |  |  |  | 535 |
Private placement warrants |  |  | — |  |  |  | — |  |  |  | 1,692 |  |  |  | 1,692 |
Working capital warrants |  |  | — |  |  |  | — |  |  |  | 194 |  |  |  | 194 |
Public warrants |  |  | 2,475 |  |  |  | — |  |  |  | — |  |  |  | 2,475 |
Deferred Sunder Consideration Shares |  |  | 10,840 |  |  |  | — |  |  |  | — |  |  |  | 10,840 |
Deferred Ambia Consideration Shares |  |  | — |  |  |  | — |  |  |  | 16,879 |  |  |  | 16,879 |
Total |  | $ | 13,315 |  |  | $ | — |  |  | $ | 118,774 |  |  | $ | 132,089 |
|  | As of December 29, 2024 |
|  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
Financial Assets |  |  |  |  |  |  |  |  |  |  |  |
Restricted cash |  | $ | 3,841 |  |  | $ | — |  |  | $ | — |  |  | $ | 3,841 |
Total |  | $ | 3,841 |  |  | $ | — |  |  | $ | — |  |  | $ | 3,841 |
Financial Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
July 2024 Notes derivative liability (1) |  | $ | — |  |  | $ | — |  |  | $ | 13,563 |  |  | $ | 13,563 |
July 2024 Notes derivative liability – related parties (1) |  |  | — |  |  |  | — |  |  |  | 21,127 |  |  |  | 21,127 |
September 2024 Notes derivative liability (1) |  |  | — |  |  |  | — |  |  |  | 55,474 |  |  |  | 55,474 |
September 2024 Notes derivative liability – related parties (1) |  |  | — |  |  |  | — |  |  |  | 6,958 |  |  |  | 6,958 |
Forward purchase agreement liabilities (2) |  |  | — |  |  |  | — |  |  |  | 3,494 |  |  |  | 3,494 |
SAFE Agreement with related party |  |  | — |  |  |  | — |  |  |  | 384 |  |  |  | 384 |
Private placement warrants |  |  | — |  |  |  | — |  |  |  | 627 |  |  |  | 627 |
Working capital warrants |  |  | — |  |  |  | — |  |  |  | 72 |  |  |  | 72 |
Public warrants |  |  | 862 |  |  |  | — |  |  |  | — |  |  |  | 862 |
Total |  | $ | 862 |  |  | $ | — |  |  | $ | 101,699 |  |  | $ | 102,561 |
(1) | The derivative liabilities are associated with the Company’s outstanding senior unsecured convertible notes with stated interest rates of 7.0% (the “September 2024 Notes” and “September 2025 Notes”) and 12.0% (the “July 2024 Notes”, “July 2025 Note”, and “November 2025 Note”) all of which are defined in Note 10 – Borrowings and Derivative Liabilities.
(2) | Includes $1.3 million due to related parties as of and December 29, 2024.
Schedule of Liabilities by Class and Categorized Within Level 3 Under the Fair Value Hierarchy | The reconciliation of liabilities by class and categorized within Level 3 under the fair value hierarchy is as follows for the fiscal years ended December 28, 2025 and December 29, 2024 (in thousands):
|  | Fiscal Year Ended December 28, 2025 |
|  | Derivative liabilities |  |  | Forward Purchase Agreements |  |  | SAFE Agreements |  |  | Warrant liabilities |  |  | Deferred Ambia Consideration Shares |  |  | Total |
Balance as of December 29, 2024 |  | $ | 97,122 |  |  | $ | 3,494 |  |  | $ | 384 |  |  | $ | 699 |  |  | $ | — |  |  | $ | 101,699 |
Additions |  |  | 20,808 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 16,879 |  |  |  | 37,687 |
Conversions |  |  | (10,931 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (10,931 | )
Net (gain)/loss recognized within Other non-operating income, net in the consolidated statement of operations |  |  | (11,490 | ) |  |  | 471 |  |  |  | 151 |  |  |  | 1,187 |  |  |  | — |  |  |  | (9,681 | )
Balance as of December 28, 2025 |  | $ | 95,509 |  |  | $ | 3,965 |  |  | $ | 535 |  |  | $ | 1,886 |  |  | $ | 16,879 |  |  | $ | 118,774 |
|  | Fiscal Year Ended December 29, 2024 |
|  | Derivative liabilities |  |  | Forward Purchase Agreements |  |  | SAFE Agreements |  |  | Warrant liabilities |  |  | Total |
Balance as of December 31, 2023 |  | $ | — |  |  | $ | 3,831 |  |  | $ | — |  |  | $ | 10,960 |  |  | $ | 14,791 |
Additions |  |  | 131,108 |  |  |  | — |  |  |  | 6,000 |  |  |  | — |  |  |  | 137,108 |
Conversions |  |  | — |  |  |  | — |  |  |  | (6,250 | ) |  |  | (7,306 | ) |  |  | (13,556 | )
Net (gain)/loss recognized within Other non-operating income, net in the consolidated statement of operations |  |  | (33,986 | ) |  |  | (337 | ) |  |  | 634 |  |  |  | (2,955 | ) |  |  | (36,644 | )
Balance as of December 29, 2024 |  | $ | 97,122 |  |  | $ | 3,494 |  |  | $ | 384 |  |  | $ | 699 |  |  | $ | 101,699 |
Schedule of Derivative Liability Valuation Inputs | The assumptions used to value the derivative liabilities as of December 28, 2025 were as follows:
|  | 12.0% Senior Unsecured Convertible Notes |  |  | 7.0% Senior Unsecured Convertible Notes |
|  | July 2024 Notes |  |  | July 2025 Note |  |  | November 2025 Note |  |  | September 2024 Notes |  |  | September 2025 Notes |
Coupon rate |  |  | 12.0 | % |  |  | 12.0 | % |  |  | 12.0 | % |  |  | 7.0 | % |  |  | 7.0 | %
Conversion rate |  |  | 595.24 |  |  |  | 558.66 |  |  |  | 626.96 |  |  |  | 467.84 |  |  |  | 467.84 |
Conversion price |  | $ | 1.68 |  |  | $ | 1.79 |  |  | $ | 1.60 |  |  | $ | 2.14 |  |  | $ | 2.14 |
Common stock price |  | $ | 1.62 |  |  | $ | 1.62 |  |  | $ | 1.62 |  |  | $ | 1.62 |  |  | $ | 1.62 |
Risk-free interest rate |  |  | 3.6 | % |  |  | 3.6 | % |  |  | 3.6 | % |  |  | 3.58 | % |  |  | 3.58 | %
Volatility |  |  | 82.2 | % |  |  | 83.2 | % |  |  | 81.3 | % |  |  | 85.6 | % |  |  | 85.6 | %
Dividend yield |  |  | 0.00 | % |  |  | 0.00 | % |  |  | 0.00 | % |  |  | 0.00 | % |  |  | 0.00 | %
The assumptions used to value the derivative liabilities as of December 29, 2024 were as follows:
|  | Senior Unsecured Convertible Notes |
|  | 12.0% Notes |  |  | 7.0% Notes |
|  | July 2024 Notes |  |  | September 2024 Notes |
Coupon rate |  |  | 12.0 | % |  |  | 7.0 | %
Conversion rate |  |  | 595.24 |  |  |  | 467.84 |
Conversion price |  | $ | 1.68 |  |  | $ | 2.14 |
Common stock price |  | $ | 1.81 |  |  | $ | 1.81 |
Risk-free interest rate |  |  | 4.43 | % |  |  | 4.43 | %
Volatility |  |  | 62.0 | % |  |  | 66.6 | %
Dividend yield |  |  | 0.00 | % |  |  | 0.00 | %
Schedule of Measured at Fair Value | FPAs are measured at fair value on a recurring basis using a Monte Carlo simulation analysis based upon the following inputs:
|  | As of |
|  | December 28, |  |  | December 29, |
|  | 2025 |  |  | 2024 |
VWAP stock price |  | $ | 1.66 |  |  | $ | 1.78 |
Simulation period |  |  | 0.55 years |  |  |  | 0.55 years |
Risk-free rate |  |  | 3.57 | % |  |  | 4.28 | %
Volatility |  |  | 77.3 | % |  |  | 117.0 | %
The Company valued the private placement and working capital warrants, based on a binomial lattice model, which included the following inputs:
|  | As of |
|  | December 28, |  |  | December 29, |
|  | 2025 |  |  | 2024 |
Expected term |  |  | 2.56 years |  |  |  | 3.56 years |
Stock price |  | $ | 1.62 |  |  | $ | 1.81 |
Exercise price |  | $ | 11.50 |  |  | $ | 11.50 |
Expected volatility |  |  | 179.0 | % |  |  | 68.1 | %
Risk-free rate |  |  | 3.50 | % |  |  | 4.39 | %
Expected dividend yield |  |  | 0.00 | % |  |  | 0.00 | %
Schedule of Financial Liabilities that were not Measured at Fair Value, on a Non-Recurring Basis | The following table sets forth the Company’s financial liabilities that were not measured at fair value and are considered a Level 3 instrument in the fair value hierarchy (in thousands):
|  | As of December 28, 2025 |
|  | Principal amount (1) |  |  | Unamortized debt discount and debt issuance costs |  |  | Net carrying amount excluding capitalized interest (1) |  |  | Fair value |
12.0% senior unsecured convertible notes |  |  |  |  |  |  |  |  |  |  |  |
July 2024 Notes |  | $ | 27,973 |  |  | $ | (5,832 | ) |  | $ | 22,141 |  |  | $ | 33,165 |
July 2024 Notes – related parties |  |  | 18,000 |  |  |  | (10,369 | ) |  |  | 7,631 |  |  |  | 21,204 |
Subtotal July 2024 Notes |  |  | 45,973 |  |  |  | (16,201 | ) |  |  | 29,772 |  |  |  | 54,369 |
July 2025 Note – related party |  |  | 5,000 |  |  |  | (3,557 | ) |  |  | 1,443 |  |  |  | 5,641 |
November 2025 Note – related party |  |  | 2,000 |  |  |  | (1,509 | ) |  |  | 491 |  |  |  | 2,360 |
7.0% senior unsecured convertible notes |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
September 2024 Notes |  |  | 56,543 |  |  |  | (42,211 | ) |  |  | 14,332 |  |  |  | 59,425 |
September 2024 Notes – related parties |  |  | 8,750 |  |  |  | (6,404 | ) |  |  | 2,346 |  |  |  | 8,880 |
Subtotal September 2024 Notes |  |  | 65,293 |  |  |  | (48,615 | ) |  |  | 16,678 |  |  |  | 68,305 |
September 2025 Notes |  |  | 22,000 |  |  |  | (18,646 | ) |  |  | 3,354 |  |  |  | 24,227 |
Total |  | $ | 140,266 |  |  | $ | (88,528 | ) |  | $ | 51,738 |  |  | $ | 154,902 |
|  | As of December 29, 2024 |
|  | Principal amount (1) |  |  | Unamortized debt discount and debt issuance costs |  |  | Net carrying amount excluding capitalized interest (1) |  |  | Fair value |
12.0% senior unsecured convertible notes |  |  |  |  |  |  |  |  |  |  |  |
July 2024 Notes |  | $ | 17,973 |  |  | $ | (6,205 | ) |  | $ | 11,768 |  |  | $ | 21,390 |
July 2024 Notes – related parties |  |  | 28,000 |  |  |  | (10,785 | ) |  |  | 17,215 |  |  |  | 33,323 |
Subtotal July 2024 Notes |  |  | 45,973 |  |  |  | (16,990 | ) |  |  | 28,983 |  |  |  | 54,713 |
7.0% senior unsecured convertible notes |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
September 2024 Notes |  |  | 71,800 |  |  |  | (66,164 | ) |  |  | 5,636 |  |  |  | 77,245 |
September 2024 Notes – related parties |  |  | 8,000 |  |  |  | (7,524 | ) |  |  | 476 |  |  |  | 8,583 |
Subtotal September 2024 Notes |  |  | 79,800 |  |  |  | (73,688 | ) |  |  | 6,112 |  |  |  | 85,828 |
Total |  | $ | 125,773 |  |  | $ | (90,678 | ) |  | $ | 35,095 |  |  | $ | 140,541 |
(1) | Excludes capitalized interest (coupon interest, default interest and failure to file interest) of $10.8 million and $13.6 million as of December 28, 2025 and December 29, 2024, respectively, included in the July 2024 Notes.

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- Definition Tabular disclosure of assets measured at fair value measured on a recurring or nonrecurring basis. Includes, but is not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
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