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Borrowings and Derivative Liabilities (Tables) | 9 Months Ended | 12 Months Ended
--- | --- | ---
Sep. 28, 2025 | Dec. 29, 2024
Borrowings and Derivative Liabilities [Abstract] |  |
Schedule of Borrowings and Derivative Liabilities | The Company’s borrowings and derivative liabilities consist of the following (in thousands):
|  | As of |
|  | September 28, |  |  | December 29, |
|  | 2025 |  |  | 2024 |
12.0% senior unsecured convertible notes |  |  |  |  |  |  |  |
July 2024 Notes |  | $ | 36,998 |  |  | $ | 17,965 |
July 2024 Notes derivative liability |  |  | 21,664 |  |  |  | 13,563 |
July 2024 Notes – related parties |  |  | 8,155 |  |  |  | 24,632 |
July 2024 derivative liability – related parties |  |  | 13,940 |  |  |  | 21,127 |
July 2025 Note – related party |  |  | 1,373 |  |  |  | — |
July 2025 Note – derivative liability – related party |  |  | 3,468 |  |  |  | — |
7.0% senior unsecured convertible notes |  |  |  |  |  |  |  |
September 2024 Notes |  |  | 15,750 |  |  |  | 5,636 |
September 2024 Notes derivative liability |  |  | 53,301 |  |  |  | 55,474 |
September 2024 Notes – related party |  |  | 1,714 |  |  |  | 476 |
September 2024 Notes – derivative liability – related party |  |  | 5,922 |  |  |  | 6,958 |
September 2025 Notes |  |  | 4,218 |  |  |  | — |
September 2025 Notes derivative liability |  |  | 16,274 |  |  |  | — |
Note payable to Seller – related party |  |  | 20,000 |  |  |  | — |
Loan with related party |  |  | 1,500 |  |  |  | 1,500 |
Total notes payable |  |  | 204,277 |  |  |  | 147,331 |
Less current portion |  |  | (21,500 | ) |  |  | (1,500 | )
Notes payable and convertible notes, net of current portion |  | $ | 182,777 |  |  | $ | 145,831 |
As classified in the unaudited condensed consolidated balance sheets |  |  |  |  |  |  |  |
Notes payable to related parties |  |  | 21,500 |  |  |  | 1,500 |
Notes payable and derivative liabilities |  |  | 148,205 |  |  |  | 92,638 |
Notes payable and derivative liabilities with related parties, net of current portion |  |  | 34,572 |  |  |  | 53,193 |
Total notes payable |  | $ | 204,277 |  |  | $ | 147,331 |
| The Company’s borrowings and derivative liabilities consisted of the following (in thousands):
|  | As of |
|  | December 29, |  |  | December 31, |
|  | 2024 |  |  | 2023 |
12% Notes |  | $ | 17,965 |  |  | $ | - |
12% Notes derivative liability |  |  | 13,563 |  |  |  | - |
12% Notes - related parties |  |  | 24,632 |  |  |  | - |
July 2024 derivative liability - related parties |  |  | 21,127 |  |  |  | - |
7% Notes |  |  | 5,636 |  |  |  | - |
7% Notes derivative liability |  |  | 55,474 |  |  |  | - |
7% Notes - related party |  |  | 476 |  |  |  | - |
7% Notes - derivative liability - related party |  |  | 6,958 |  |  |  | - |
2018 Bridge Notes |  |  | - |  |  |  | 11,031 |
Revolver Loan |  |  | 1,500 |  |  |  | 5,168 |
Secured Credit Facility |  |  | - |  |  |  | 12,158 |
Polar Settlement Agreement |  |  | - |  |  |  | 300 |
Total Notes payable |  |  | 147,331 |  |  |  | 28,657 |
Debt in CS Solis |  |  | - |  |  |  | 33,280 |
Total notes payable and convertible notes, net |  |  | - |  |  |  | 61,937 |
Less current portion |  |  | (1,500 | ) |  |  | (61,937 | )
Notes payable and convertible notes, net of current portion |  | $ | 145,831 |  |  | $ | - |
Schedule of Fair Value of the Derivative Liability | The carrying amount of the convertible July 2024 Notes, inclusive of the fair value of the derivative liabilities was as follows (in thousands):
|  | As of |
|  | September 28, |  |  | December 29, |
|  | 2025 |  |  | 2024 |
July 2024 Notes |  | $ | 69,876 |  |  | $ | 70,348 |
July 2024 Notes derivative liability |  |  | 35,604 |  |  |  | 34,690 |
Less Unamortized debt discount |  |  | (24,723 | ) |  |  | (27,751 | )
Total carrying amount of July 2024 Notes |  | $ | 80,757 |  |  | $ | 77,287 |
The carrying amount of the convertible July 2025 Note, inclusive of the fair value of the derivative liabilities was as follows (in thousands):
|  | As of |
|  | September 28, |  |  | December 29, |
|  | 2025 |  |  | 2024 |
July 2025 Note – related party |  | $ | 5,000 |  |  | $ | — |
July 2025 Note derivative liability – related party |  |  | 3,468 |  |  |  | — |
Less Unamortized debt discount |  |  | (3,627 | ) |  |  | — |
Total carrying amount of July 2025 Note – related party |  | $ | 4,841 |  |  | $ | — |
The carrying amount of the convertible September 2024 Notes, inclusive of the fair value of the derivative liabilities was as follows (in thousands):
|  | As of |
|  | September 28, |  |  | December 29, |
|  | 2025 |  |  | 2024 |
September 2024 Notes |  | $ | 80,000 |  |  | $ | 79,800 |
September 2024 Notes derivative liability |  |  | 59,223 |  |  |  | 62,432 |
Less Unamortized debt discount |  |  | (62,536 | ) |  |  | (73,688 | )
Total carrying amount of September 2024 Notes and derivative liabilities |  | $ | 76,687 |  |  | $ | 68,544 |
The carrying amount of the convertible September 2025 Notes, inclusive of the fair value of the derivative liabilities was as follows (in thousands):
|  | As of |
|  | September 28, |  |  | December 29, |
|  | 2025 |  |  | 2024 |
September 2025 Notes |  | $ | 22,000 |  |  | $ | — |
September 2025 Notes derivative liability |  |  | 16,274 |  |  |  | — |
Less Unamortized debt discount |  |  | (17,782 | ) |  |  | — |
Total carrying amount of September 2025 Notes and derivative liabilities |  | $ | 20,492 |  |  | $ | — |
Schedule of Contingent Interest Payable | Contingent interest payable upon default and included in the July 2024 Notes was as follows (in thousands):
|  | As of |
|  | September 28, |  |  | December 29, |
|  | 2025 |  |  | 2024 |
Contingent interest payable |  | $ | 2,359 |  |  | $ | 1,255 |
Contingent interest payable – related parties |  |  | — |  |  |  | 1,575 |
Total contingent interest payable |  | $ | 2,359 |  |  | $ | 2,830 |
Schedule of Interest Expense and Amortization of Debt Discount Cost | Interest expense and amortization of debt discount cost were as follows (in thousands):
|  | Thirteen Weeks Ended |  |  | Thirty-Nine Weeks Ended |
|  | September 28, 2025 |  |  | September 29, 2024 |  |  | September 28, 2025 |  |  | September 29, 2024 |
Interest expense |  | $ | 1,410 |  |  | $ | 849 |  |  | $ | 4,182 |  |  | $ | 849 |
Amortization of debt discount |  |  | 1,072 |  |  |  | 864 |  |  |  | 3,028 |  |  |  | 864 |
Total |  | $ | 2,482 |  |  | $ | 1,713 |  |  | $ | 7,210 |  |  | $ | 1,713 |
Related parties’ portion of interest expense and amortization of debt discount included in the above amounts |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest expense — related parties |  | $ | 550 |  |  | $ | 546 |  |  | $ | 1,932 |  |  | $ | 546 |
Amortization of debt discount — related parties |  |  | 421 |  |  |  | 526 |  |  |  | 1,391 |  |  |  | 526 |
Total — related parties |  | $ | 971 |  |  | $ | 1,072 |  |  | $ | 3,323 |  |  | $ | 1,072 |
Interest expense and amortization of debt discount cost, all of which was with a related party were as follows (in thousands):
|  | Thirteen Weeks Ended |  |  | Thirty-Nine Weeks Ended |
|  | September 28, 2025 |  |  | September 29, 2024 |  |  | September 28, 2025 |  |  | September 29, 2024 |
Interest expense – related party |  | $ | 138 |  |  | $ | — |  |  | $ | 138 |  |  | $ | — |
Amortization of debt discount – related party |  |  | 53 |  |  |  | — |  |  |  | 53 |  |  |  | — |
Total – related party |  | $ | 191 |  |  | $ | — |  |  | $ | 191 |  |  | $ | — |
Interest expense and amortization of debt discount cost were as follows (in thousands):
|  | Thirteen Weeks Ended |  |  | Thirty-Nine Weeks Ended |
|  | September 28, 2025 |  |  | September 29, 2024 |  |  | September 28, 2025 |  |  | September 29, 2024 |
Interest expense |  | $ | 1,431 |  |  | $ | 52 |  |  | $ | 4,253 |  |  | $ | 52 |
Amortization of debt discount |  |  | 3,790 |  |  |  | 454 |  |  |  | 11,152 |  |  |  | 454 |
Total |  | $ | 5,221 |  |  | $ | 506 |  |  | $ | 15,405 |  |  | $ | 506 |
Related parties’ portion of interest expense and amortization of debt discount included in the above amounts |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest expense – related parties |  | $ | 143 |  |  | $ | 6 |  |  | $ | 425 |  |  | $ | 6 |
Amortization of debt discount – related parties |  |  | 422 |  |  |  | 54 |  |  |  | 1,253 |  |  |  | 54 |
Total – related parties |  | $ | 565 |  |  | $ | 60 |  |  | $ | 1,678 |  |  | $ | 60 |
Interest expense and amortization of debt discount cost were as follows (in thousands):
|  | Thirteen Weeks Ended |  |  | Thirty-Nine Weeks Ended |
|  | September 28, 2025 |  |  | September 29, 2024 |  |  | September 28, 2025 |  |  | September 29, 2024 |
Interest expense |  | $ | 34 |  |  | $ | — |  |  | $ | 34 |  |  | $ | — |
Amortization of debt discount |  |  | 26 |  |  |  | — |  |  |  | 26 |  |  |  | — |
Total |  | $ | 60 |  |  | $ | — |  |  | $ | 60 |  |  | $ | — |

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