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Fair Value Measurements (Tables) | 9 Months Ended | 12 Months Ended
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Sep. 28, 2025 | Dec. 29, 2024
Fair Value Measurements [Abstract] |  |
Schedule of Financial Assets and Liabilities that are Measured at Fair Value, on a Recurring Basis | The following table sets forth the Company’s financial assets and liabilities that are measured at fair value, on a recurring basis (in thousands):
|  | As of September 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 |  | $ | — |  |  | $ | — |  |  | $ | 21,664 |  |  | $ | 21,664 |
July 2024 Notes derivative liability – related parties |  |  | — |  |  |  | — |  |  |  | 13,940 |  |  |  | 13,940 |
September 2024 derivative liability |  |  | — |  |  |  | — |  |  |  | 53,301 |  |  |  | 53,301 |
September 2024 derivative liability – related parties |  |  | — |  |  |  | — |  |  |  | 5,922 |  |  |  | 5,922 |
July 2025 Note derivative liability– related party |  |  | — |  |  |  | — |  |  |  | 3,468 |  |  |  | 3,468 |
September 2025 Notes derivative liability |  |  | — |  |  |  | — |  |  |  | 16,274 |  |  |  | 16,274 |
Forward purchase agreement liabilities |  |  | — |  |  |  | — |  |  |  | 4,301 |  |  |  | 4,301 |
Public warrants |  |  | — |  |  |  | — |  |  |  | 2,588 |  |  |  | 2,588 |
Private placement warrants |  |  | — |  |  |  | — |  |  |  | 1,880 |  |  |  | 1,880 |
Working capital warrants |  |  | — |  |  |  | — |  |  |  | 215 |  |  |  | 215 |
SAFE Agreement with related party |  |  | — |  |  |  | — |  |  |  | 497 |  |  |  | 497 |
Total |  | $ | — |  |  | $ | — |  |  | $ | 124,050 |  |  | $ | 124,050 |
|  | 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 |  | $ | — |  |  | $ | — |  |  | $ | 13,563 |  |  | $ | 13,563 |
July 2024 Notes derivative liability – related parties |  |  | — |  |  |  | — |  |  |  | 21,127 |  |  |  | 21,127 |
September 2024 Notes derivative liability |  |  | — |  |  |  | — |  |  |  | 55,474 |  |  |  | 55,474 |
September 2024 Notes derivative liability – related parties |  |  | — |  |  |  | — |  |  |  | 6,958 |  |  |  | 6,958 |
Forward purchase agreement liabilities (1) |  |  | — |  |  |  | — |  |  |  | 3,494 |  |  |  | 3,494 |
Public warrants |  |  | — |  |  |  | — |  |  |  | 862 |  |  |  | 862 |
Private placement warrants |  |  | — |  |  |  | — |  |  |  | 627 |  |  |  | 627 |
Working capital warrants |  |  | — |  |  |  | — |  |  |  | 72 |  |  |  | 72 |
SAFE Agreement with related party |  |  | — |  |  |  | — |  |  |  | 384 |  |  |  | 384 |
Total |  | $ | — |  |  | $ | — |  |  | $ | 102,561 |  |  | $ | 102,561 |
(1) | Includes $1.3 million due to related parties as of and December 29, 2024.
| The following table sets forth the Company’s financial assets and liabilities that were measured at fair value, on a recurring basis (in thousands):
|  | 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 derivative liability (1) |  | $ | - |  |  | $ | - |  |  | $ | 34,690 |  |  | $ | 34,690 |
September 2024 derivative liability (1) |  |  | - |  |  |  | - |  |  |  | 62,432 |  |  |  | 62,432 |
Forward purchase agreements (2) |  |  | - |  |  |  | - |  |  |  | 3,494 |  |  |  | 3,494 |
Public warrants |  |  | - |  |  |  | - |  |  |  | 862 |  |  |  | 862 |
Private placement warrants |  |  | - |  |  |  | - |  |  |  | 627 |  |  |  | 627 |
Working capital warrants |  |  | - |  |  |  | - |  |  |  | 72 |  |  |  | 72 |
SAFE Agreement with related party |  |  | - |  |  |  | - |  |  |  | 384 |  |  |  | 384 |
Total |  | $ | - |  |  | $ | - |  |  | $ | 102,561 |  |  | $ | 102,561 |
|  | As of December 31, 2023 |
|  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
Financial Assets |  |  |  |  |  |  |  |  |  |  |  |
Restricted cash |  | $ | 3,823 |  |  | $ | - |  |  | $ | - |  |  | $ | 3,823 |
Total |  | $ | 3,823 |  |  | $ | - |  |  | $ | - |  |  | $ | 3,823 |
Financial Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Carlyle Warrants |  | $ | - |  |  | $ | - |  |  | $ | 9,515 |  |  | $ | 9,515 |
Public warrants |  |  | 167 |  |  |  | - |  |  |  | - |  |  |  | 167 |
Private placement warrants |  |  | - |  |  |  | 122 |  |  |  | - |  |  |  | 122 |
Working capital warrants |  |  | - |  |  |  | 13 |  |  |  | - |  |  |  | 13 |
Replacement warrants |  |  | - |  |  |  | - |  |  |  | 1,310 |  |  |  | 1,310 |
Forward purchase agreements (1) |  |  | - |  |  |  | - |  |  |  | 3,831 |  |  |  | 3,831 |
Total |  | $ | 167 |  |  | $ | 135 |  |  | $ | 14,656 |  |  | $ | 14,958 |
| (1) | A portion of these balances are with related parties. Refer to Note 15 - Borrowings and Derivative Liabilities for details.
| (2) | A portion of these balances are with related parties. Refer to Note 6 - Forward Purchase Agreements for details.
Schedule of Derivative Liability Valuation Inputs | The July 2024 Notes derivative liability valuation included the following inputs:
|  | As of |
|  | September 28, 2025 |  |  | December 29, 2024 |
Coupon rate |  |  | 12.0 | % |  |  | 12.0 | %
Conversion rate |  |  | 595.24 |  |  |  | 595.24 |
Conversion price |  | $ | 1.68 |  |  | $ | 1.68 |
Common stock price |  | $ | 1.77 |  |  | $ | 1.81 |
Risk-free rate |  |  | 3.7 | % |  |  | 4.43 | %
Volatility |  |  | 73.9 | % |  |  | 62.0 | %
Dividend yield |  |  | 0.0 | % |  |  | 0.0 | %
The September 2024 Notes derivative liability valuation included the following inputs:
|  | As of |
|  | September 28, 2025 |  |  | December 29, 2024 |
Coupon rate |  |  | 7.0 | % |  |  | 7.0 | %
Conversion rate |  |  | 467.84 |  |  |  | 467.84 |
Conversion price |  | $ | 2.14 |  |  | $ | 2.14 |
Common stock price |  | $ | 1.77 |  |  | $ | 1.81 |
Risk-free rate |  |  | 3.7 | % |  |  | 4.43 | %
Volatility |  |  | 77.8 | % |  |  | 66.6 | %
Dividend yield |  |  | 0.0 | % |  |  | 0.0 | %
The July 2025 Note derivative liability valuation included the following inputs:
|  | As of |
|  | September 28, 2025 |
Coupon rate |  |  | 12.0 | %
Conversion rate |  |  | 558.66 |
Conversion price |  | $ | 1.79 |
Common stock price |  | $ | 1.77 |
Risk-free rate |  |  | 3.7 | %
Volatility |  |  | 75.1 | %
Dividend yield |  |  | 0.0 | %
The September 2025 Notes derivative liability valuation included the following inputs:
|  | As of |
|  | September 28, 2025 |
Coupon rate |  |  | 7.0 | %
Conversion rate |  |  | 467.84 |
Conversion price |  | $ | 2.14 |
Common stock price |  | $ | 1.77 |
Risk-free rate |  |  | 3.7 | %
Volatility |  |  | 77.8 | %
Dividend yield |  |  | 0.0 | %
| The Company issued derivative liabilities in conjunction with the issuance of certain convertible notes in July 2024 and September 2024 (refer to Note 15 - Borrowings and Derivative Liabilities). The Company valued the derivative liabilities as of their issuance date and as of December 29, 2024 using a binomial lattice model, which includes level 3 unobservable inputs. The key inputs used were dividend yield, the Company’s common stock price, volatility, risk-free rate and the expected term of the derivative liabilities. The derivative liability valuation included the following inputs as of December 29, 2024:
|  | September Notes |  |  | July Notes |
Coupon rate |  |  | 7.0 | % |  |  | 12.0 | %
Conversion rate |  |  | 467.84 |  |  |  | 595.24 |
Conversion price |  | $ | 2.14 |  |  | $ | 1.68 |
Common stock price |  | $ | 1.81 |  |  | $ | 1.81 |
Dividend Yield |  |  | 0.0 | % |  |  | 0.0 | %
Schedule of Measurement Inputs | The Company valued the private placement and working capital warrants, based on a Black-Scholes Option Pricing Method, which included the following inputs:
|  | As of |
|  | September 28, |  |  | December 29, |
|  | 2025 |  |  | 2024 |
Expected term |  |  | 2.81 years |  |  |  | 3.56 years |
Expected volatility |  |  | 169.0 | % |  |  | 68.1 | %
Risk-free rate |  |  | 3.65 | % |  |  | 4.39 | %
Expected dividend yield |  |  | 0.00 | % |  |  | 0.00 | %
The expected volatility is determined based on the historical equity volatility of comparable companies over a period that matches the simulation period, which included the following inputs:
|  | As of |
|  | September 28, |  |  | December 29, |
|  | 2025 |  |  | 2024 |
VWAP |  | $ | 1.86 |  |  | $ | 1.78 |
Simulation period |  |  | 0.80 years |  |  |  | 0.55 years |
Risk-free rate |  |  | 3.73 | % |  |  | 4.28 | %
Volatility |  |  | 84.8 | % |  |  | 117 | %
| The Company valued the Carlyle Warrants as of December 31, 2023, based on a Black-Scholes Option Pricing Method, which included the following inputs:
|  | As of December 31, |
|  | 2023 |
Expected term |  |  | 7.0 years |
Expected volatility |  |  | 77 | %
Risk-free interest rate |  |  | 3.92 | %
Expected dividend yield |  |  | 0.00 | %
The private placement and working capital warrants are measured at fair value. The Company valued the private placement and working capital warrants, based on a Black-Scholes Option Pricing Method, which included the following inputs:
|  | As of December 29, |
|  | 2024 |
Expected term |  |  | 3.56 years |
Expected volatility |  |  | 68.1 | %
Risk-free interest rate |  |  | 4.39 | %
Expected dividend yield |  |  | 0.00 | %
FPAs are measured at fair value on a recurring basis using a Monte Carlo simulation analysis. The expected volatility is determined based on the historical equity volatility of comparable companies over a period that matches the simulation period, which included the following inputs:
|  | As of |
|  | December 29, |  |  | December 31, |
|  | 2024 |  |  | 2023 |
VWAP |  | $ | 1.78 |  |  | $ | 1.66 |
Simulation period |  |  | 0.55 years |  |  |  | 1.55 years |
Risk-free rate |  |  | 4.28 | % |  |  | 4.48 | %
Volatility |  |  | 117 | % |  |  | 95 | %
There were no replacement warrants as of December 29, 2024. The Company valued the Replacement Warrants as of December 31, 2023, based on a Black-Scholes Option Pricing Method, which included the following inputs:
|  | As of December 31, |
|  | 2023 |
Expected term |  |  | 0.3 years |
Expected volatility |  |  | 78.5 | %
Risk-free interest rate |  |  | 5.4 | %
Expected dividend yield |  |  | 0 | %
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, on a non-recurring basis (in thousands):
|  | As of September 28, 2025 |
|  |  |  |  | Fair value |
|  | Carrying value |  |  | Estimated fair value |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
Financial Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
July 2024 Notes |  | $ | 36,998 |  |  | $ | 34,187 |  |  | $ | — |  |  | $ | — |  |  | $ | 34,187 |  |  | $ | 34,187 |
July 2024 Notes – related parties |  |  | 8,155 |  |  |  | 22,042 |  |  |  | — |  |  |  | — |  |  |  | 22,042 |  |  |  | 22,042 |
September 2024 Notes |  |  | 15,750 |  |  |  | 78,563 |  |  |  | — |  |  |  | — |  |  |  | 78,563 |  |  |  | 78,563 |
September 2024 Notes – related parties |  |  | 1,714 |  |  |  | 8,729 |  |  |  | — |  |  |  | — |  |  |  | 8,729 |  |  |  | 8,729 |
July 2025 Note – related party |  |  | 1,373 |  |  |  | 6,250 |  |  |  | — |  |  |  | — |  |  |  | 6,250 |  |  |  | 6,250 |
September 2025 Notes |  |  | 4,218 |  |  |  | 25,090 |  |  |  | — |  |  |  | — |  |  |  | 25,090 |  |  |  | 25,090 |
Total |  | $ | 68,208 |  |  | $ | 174,861 |  |  | $ | — |  |  | $ | — |  |  | $ | 174,861 |  |  | $ | 174,861 |
|  | As of December 29, 2024 |
|  |  |  |  | Fair value |
|  | Carrying value |  |  | Estimated fair value |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
Financial Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
July 2024 Notes |  | $ | 17,965 |  |  | $ | 21,390 |  |  | $ | — |  |  | $ | — |  |  | $ | 21,390 |  |  | $ | 21,390 |
July 2024 Notes - related parties |  |  | 24,632 |  |  |  | 33,323 |  |  |  | — |  |  |  | — |  |  |  | 33,323 |  |  |  | 33,323 |
September 2024 Notes |  |  | 5,636 |  |  |  | 77,245 |  |  |  | — |  |  |  | — |  |  |  | 77,245 |  |  |  | 77,245 |
September 2024 Notes - related parties |  |  | 476 |  |  |  | 8,583 |  |  |  | — |  |  |  | — |  |  |  | 8,583 |  |  |  | 8,583 |
Total |  | $ | 48,709 |  |  | $ | 140,541 |  |  | $ | — |  |  | $ | — |  |  | $ | 140,541 |  |  | $ | 140,541 |
| The following table sets forth the Company’s financial liabilities that were not measured at fair value, on a non-recurring basis (in thousands):
|  | As of December 29, 2024 |
|  |  |  |  | Fair value |
|  | Carrying value |  |  | Estimated fair value |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
Financial Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
12% Notes |  | $ | 17,965 |  |  | $ | 21,390 |  |  | $ | - |  |  | $ | - |  |  | $ | 21,390 |  |  | $ | 21,390 |
12% Notes - related parties |  |  | 24,632 |  |  |  | 33,323 |  |  |  | - |  |  |  | - |  |  |  | 33,323 |  |  |  | 33,323 |
7% Notes |  |  | 5,636 |  |  |  | 77,245 |  |  |  | - |  |  |  | - |  |  |  | 77,245 |  |  |  | 77,245 |
7% Notes - related parties |  |  | 476 |  |  |  | 8,583 |  |  |  | - |  |  |  | - |  |  |  | 8,583 |  |  |  | 8,583 |
Total |  | $ | 48,709 |  |  | $ | 140,541 |  |  | $ | - |  |  | $ | - |  |  | $ | 140,541 |  |  | $ | 140,541 |

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- Definition Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique for each separate class of asset and liability measured on recurring and nonrecurring basis. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (bbb)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2003/role/exampleRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 103 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482078/820-10-55-103 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (bbb)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
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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 the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 101 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482078/820-10-55-101 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-3 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c) -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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