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Borrowings and Derivative Liabilities (Tables)

12 Months Ended

Dec. 28, 2025

Borrowings and Derivative Liabilities [Abstract]

Schedule of Borrowings and Derivative Liabilities

The Company’s borrowings and derivative liabilities consisted of the following (in thousands):

		As of
		December 28,				December 29,
		2025				2024
Short term:
Seller Note – related party		$	20,000			$	—
Loan with related party			1,500				1,500
Total short-term debt with related parties		$	21,500			$	1,500
Long-term:
12.0% senior unsecured convertible notes and related derivative liabilities
July 2024 Notes		$	32,969			$	17,965
July 2024 Notes – related parties			7,631				24,632
Subtotal July 2024 Notes			40,600				42,597
July 2025 Note – related party			1,443				—
November 2025 Note – related party			491				—
July 2024 Notes derivative liability			19,604				13,563
July 2024 Notes derivative liability – related party			12,615				21,127
Subtotal July 2024 Notes derivative liability			32,219				34,690
July 2025 Note derivative liability – related party			3,246				—
November 2025 Note derivative liability – related party			1,488				—
Total 12.0% senior unsecured convertible notes and derivative liabilities			79,487				77,287
7.0% senior unsecured convertible notes and derivative liabilities
September 2024 Notes			14,332				5,636
September 2024 Notes – related parties			2,346				476
Subtotal September 2024 Notes			16,678				6,112
September 2025 Notes			3,354				—
September 2024 Notes derivative liability			37,930				55,474
September 2024 Notes derivative liability – related parties			5,870				6,958
Subtotal September 2024 Notes derivative liability			43,800				62,432
September 2025 Notes derivative liability			14,756				—
Total 7.0% senior unsecured convertible notes and derivative liabilities			78,588				68,544
Total notes payable and derivative liabilities			158,075				145,831
Less current portion			(2,786	)			—
Total senior unsecured convertible notes payable and derivative liabilities, net of current portion		$	155,289			$	145,831
Balance sheet classification
Current liabilities
Notes payable, current portion		$	2,786			$	—
Long-term liabilities
Notes payable and derivative liabilities, net of current portion		$	120,159			$	92,638
Notes payable and derivative liabilities with related parties			35,130				53,193
Total		$	155,289			$	145,831

Schedule of Fair Value of the Derivative Liability

The carrying amount of the July 2024 Notes was as follows (in thousands):

		As of
		December 28,				December 29,
		2025				2024
July 2024 Notes principal amount		$	56,801			$	59,587
Less Unamortized debt discount			(16,201	)			(16,990	)
Net carrying amount of July 2024 Notes		$	40,600			$	42,597

The carrying amount of the July 2025 Note was as follows (in thousands):

		As of
		December 28,
		2025
July 2025 Note – related party		$	5,000
Less Unamortized debt discount – related party			(3,557	)
Net carrying amount of July 2025 Note – related party		$	1,443

The carrying amount of the convertible November 2025 Note was as follows (in thousands):

		As of
		December 28,
		2025
November 2025 Note – related party		$	2,000
Less Unamortized debt discount – related party			(1,509	)
Net carrying amount of November 2025 Note – related party		$	491

The carrying amount of the convertible September 2024 Notes was as follows (in thousands):

		As of
		December 28,				December 29,
		2025				2024
September 2024 Notes		$	65,293			$	79,800
Less Unamortized debt discount			(48,615	)			(73,688	)
Net carrying amount of September 2024 Notes		$	16,678			$	6,112

The carrying amount of the September 2025 Notes, inclusive of the fair value of the derivative liabilities was as follows (in thousands):

		As of
		December 28,
		2025
September 2025 Notes		$	22,000
Less Unamortized debt discount			(18,646	)
Net carrying amount of September 2025 Notes		$	3,354

Schedule of Short and Long-term Debt

The principal amount of all short and long-term debt, excluding capitalized interest in connection with the exchanged notes, is as follows:

		Principal payment
Fiscal year ending
2026		$	21,500
2027			—
2028			—
2029			143,266
Total			164,766

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